Thursday, June 04, 2015 6:58:12 PM
Due diligence is not operating on assumptions and innuendos.
What is worth considering however is the information that has been presented in writing and filed correspondingly with the SEC for it is at the very least what I know and not what I “think” might be…
What is known to name but a few: (1) the former CPA either re-signed and/or was terminated by several different entities and/or companies none of which were related to Vapor Group. (2) The CPA failed to accurately categorize convertible debentures and as such did not calculate for the embedded conversion factors of said convertible note/bond/debt which directly affects the classification and valuation of same. (3) The financials of several companies and as well Vapor Group as a result of the aforementioned #2 were required to be reviewed, corrected and refiled. (4) The 1st replaced CPA took on more work than he could produce results for and in all likelihood committed to a date for completion that he could not deliver by and kept pushing further as a result. (5) To date there has not been any indication and/or supporting evidence set forth that would implement anyone to include Dror and/or the former CPA in unethical and unlawful accounting practices designed to inaccurately portray the financial condition and ongoing concerns of this company or any other company for that matter. (6) As for the categorization of Vapor Group and “gray trading” let’s just say none of the aforementioned or even the situation would be at issue if such were the case as there would be NO filings to amend or even the suggestion to amend previous filings. (7) Dror is increasingly stepping into the public light and risking legal exposure if acting in an unlawful manner by addressing and explaining to the shareholders the reasons for the delays to include the decisions and actions he is undertaking to address same. Support of his actions is further substantiated in the corresponding filing of the 8-K (s) being remitted to the SEC not to mention his selection of a CPA firm (not a lone individual that could be manipulated and/or bribed) that is specialized in the accounting and regulatory reporting requirements of a public traded company. In my experience people with fraudulent and unlawful intentions make it habit to minimize if not avoid completely any and ALL incriminating statements, documents and/or actions…they like small targets not bigger ones on their backs.
Conclusion: We will see the financials before the asserted end of the month timeline. Personally if I were in the same situation I would equally cushion myself with extra time as Dror is now doing giving the recent events. Dror’s hat tip to the anticipated revenue numbers for the 1st quarter in comparison to the same quarter in the 1st year of business is tracking in the right direction. If a company with not a fraction of what Vapor Group already has as a tangible and growing footprint never made mistakes along the way and/or didn’t have some bumps in the road…that would qualify as a concern to me. This will pass and for those who dare to venture that it is no more than what it is being presented as…I believe the return will have been worth it.
At the end of it all …it’s really quite simple…if concerned, than life is too short to stress over such and you need to find what is more conducive to your level of risk and reward. GLTA…
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