Electronic Cigarettes International Group Ltd fka ECIGQ

[tbone8]

On March 13, 2015, the Company entered into a Securities Exchange Agreement (the “Securities Exchange Agreement”) with an accredited investor (the “Investor”) pursuant to which the Company exchanged with the Investor the Company’s 6% Senior Convertible Note, dated April 22, 2014 (the “Original Note”), as amended by the First Amendment to the Original Note dated June 3, 2014 (the “First Amendment”), the Second Amendment to the Original Note dated August 20, 2014 (the “Second Amendment”) and the Third Amendment to the Original Note dated October 15, 2014 (the “Third Amendment” and collectively with the First Amendment and the Second Amendment, the “Amendments,” and the Original Note as amended by the Amendments, the “6% Convertible Notes”), held by the Investor in exchange for (i) $13,000,000, (ii) a 0.04% Unsecured Note in the principal amount of $1.8 million (the “0.04% Unsecured Note”) and (iii) a prepaid $.03 warrant for 93,750,000 shares of Common Stock and a prepaid warrant for 31,250,000 shares of Common Stock (collectively, the “Prepaid Warrants”).

Lets not try to spin this one. The 6% convertible notes are paid in their entirety and all obligations under these notes have been released.

We will know tomorrow what the balance on these notes were at the EOY and that will give us a better idea. Give it a rest.