Vapor Group Inc (VPOR)

[Tony_the_Tiger_1973]

Previous valuation based on future cash flows, industry growth, terminal share count, and terminal profit assumptions yielded a fair value of 3.5 cents.

Quickly reviewing those factors...

Revs were slightly down but strong. Effect on valuation insignificant. Might become a trend for Q4.

Industry is still expected to grow at greater than 25% per quarter through 2020. Supports valuation strongly.

Terminal share count will probably settle around 3.2B. This brings valuation down slightly since I was using 3B. Minimal debt was taken on in Q4.

Terminal profit margin may be higher than I have assumed, since their gross profit was 80%+ this quarter. This significantly increases my valuation.

.04-.06 is my new target.