Electronic Cigarettes International Group Ltd fka ECIGQ

[Toons39]

If a company postpones it's uplisting the night before it is supposed to uplist almost 99% of the time it is because they couldn't raise the $ they were trying to raise. In this situation ECIG was trying to raise $150 million and if they couldn't raise a certain percentage of that (I think it is around 80-85%) they will be forced to pull the uplisting. You can't put in the prospectus that you are going to raise x amount and then only end up raising half of that. Who's fault is that then? The majority of the blame needs to be on the investment banks that are doing the uplisting. It is their job to go out and talk to their clients and get an indication of interest of how much the company can raise. That is part of why the companies pay these investment banks such hefty fees. In this case, I would assume that the investment banks probably told ECIG that they could comfortably raise $150 million and it obviously didn't happen. Now if ECIG wanted to raise more than what the bankers were telling them they could, the blame goes on ECIG. Usually the company listens to the bankers. I will tell you with great confidence that big tobacco was not behind this and the company itself was not trying to scam people.