Let me start by saying I want this stock to fly. I want to make a boatload of $ on it and I hope the future is positive.
Industry growth has been huge over the past few years. I believe the product is a much healthier option for smokers and the general public (no 2nd hand smoke). The potential is definitely there.
However, what if revenues for Q1 are flat? What if the net operating losses continues to rise? What happens if more Countries ban the products outright (Brazil, Argentina, Hong Kong, Singapore, Uruguay, United Arab Emirates etc. have banned e-cigarettes) or regulations strangle the industry?
ECIG may have "one of the largest distribution network in the world and a slew of good products", but distribution is not an issue for anyone entering the market and none of ECIG products are unique. This is an extremely competitive and risky industry and market share is not guaranteed.
This is not a sure thing, there are huge risks and those should not be ignored.