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Friday, November 17, 2017 9:46:41 AM
Pros:
- in a previous PR VPOR was required to buy 20K grinders at 363K in cost of goods you are looking at 19$ a grinder
- min 12K grinders sold so there is a demand
Cons:
- 500k in revenue mean they are selling to wholesellers at about 45$ a grinder meaning they are making 20$ a grinder in profit and not 80$
- net profit after goods sold was only 134k when they have a net loss of 900K in Q2
- the notes are very alarming. 1.7mm in notes with 1.8mm in accrued interest? Did they borrow off loan sharks?
- the lawsuit for 860k is not good, they settled in shares meaning this shareholder will keep the PPS down in order to take back his money and run. Given there is no liquidity he will sell daily and not a lump sum.
With their current 1MM in net losses and at 20$ profit on average a grinder they need to sell 500K grinders. They need to increase their margins to sell to these distributors.
Although IMO these are not good results. I was expecting so. It will take a while to pull themselves out and that's assuming the demands stays.
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