It's Garbage Because of This:
1. Customer base? Really? I have visited not less than 20 "head shops" over the past year, sometimes to do DD, other times to pick up smoking/vaping items. Not one single shop owner or employee had ever heard of VAPE or Hive and this is in Los Angeles where the Company is based. Not only was VAPE/Hive off the radar, whenever I saw similar domeless pieces and pins, the shop owners reactions were equally as discouraging. Most said ceramics were unpopular and titanium was the preferred material. When I asked one shop owner if he knew the brand/maker of his domeless pieces, he said he didn't but said random people came Ito the shop all the time to sell him all sort of similar stuff. Oversaturated much? BUT where all this blabber is leading is....if shop owners don't have a clue or much less care about VAPE/Hive products, where do you get the idea that there is a "customer base" demanding the products? I'm pretty well entrenched in the California cannabis scene having been a medical patient since 2003 when sb420 allowed for retail dispensaries and NOT ONCE have I seen, heard or much less used anything from VAPE/Hive. Cloud Pens, G-Pens, O.Pen Vape Cartridges are everywhere, but VAPE/Hive is nowhere
2. Growing sales? Uh, growing where? The latest earnings reports didn't show sales "growing", it showed the very first "sales" to date and it sure wasn't anything spectacular. The only thing growing for certain is the debt load.
3. Growing distributors? Ha! Look, if VAPE/Hive is a total no show in SoCal (despite their claims on the website) then I doubt they are "growing" elsewhere. To boot, there are really only about 5 states where MJ concentrates like wax and oil are readily available and those are the only MJ products that can be used with VAPE products.
4. New markets? Those markets are oversaturated with paraphernalia. Vapes products are crappy little add ons that most people don't really care to use. The dome pieces are confusing, far less straight forward than a G-Pen where you push a button, it heats up and vapor is released.
Maybe I'm no expert but Malvern might remember me from when I called VAPE to hit 1.25 back when it was trading at 8. Unfortunately I've had to undergo some changes since then but I was 100% correct in my call as I am in my statements above. I also called Brochstein a fraud about 1.5 years ago when he first discovered the MJ sector and I was right about that too. Like it or not, I'm right. VAPE is garbage
