Listen up folks - please read!
After catching my breath and thinking logically a stark reality hit me. I believe there was an accounting error of 40x (in regards to the 1:40 reverse split that just took place) with the HIVE purchase deal... please follow my logic.
30M @0.13 (8-k, Jan 3) would've accounted for 750k shares at $5.2 for the HIVE deal.
30M post split (8-k, Jan14) means this is a factor of 40x more than the original projected purchase price for HIVE. 30M/750k = 40x
Now, prior to the R/S VAPE holdings was given 187M for peoplestring acquiring it. How could HIVE be worth 30M post split? 30M if thought of in pre-split terms would be 30Mx40 = 1.2Billon shares... there's no way HIVE was worth this much and more than the company (VAPE) itself. It makes sense that VAPE was worth more than PLPE during the acquision phase, but it doesn't make sense that HIVE is worth what we are all thinking 30M post-split. This means HIVE was inaccurately priced at ~6.4 times the value of VAPE... instead I see the true value, VAPE was 187M and HIVE was 30M... There's a huge gap to fill somewhere, but I am led to believe there was an accounting error... this wouldn't be Kyle Tracey's fault, but instead Jerome Kaiser who is the CFO and wrote up the documents. It really sucks, but my advice to everyone would be to hold onto their shares until this is figured out.
IF there was an accounting error I doubt I would be compensated since I sold my 200 shares at $5. Going into the R/S my 200 shares were worth $16.44 = $3288. I sold today for $1000 with a loss of 2288... It really sucks, but my name should be on the list for those who went through the R/S and I hope for everyone's sake that there is a remedy to this. The ticker should stop trading until this is all figured out (especially since there is time until the VAPE ticker change)... I may be wrong, but it is clear as day that the projected purchase price for HIVE was 30M @.13 = 750k shares post-split, that would've taken us to ~7.25M shares O/S... Instead we are looking at 36.5M shares, which is outright wrong. There was a 40x difference with the post-split shares vs. pre-split shares in the HIVE purchase, which corresponds directly with the 1:40 R/S that just took place during the deal. I believe there was an accounting error and everyone should wait patiently for news. Do as you wish and I wish I had held after realizing this. But, goodluck and I lost my temperament and spoke out against the company, but Kyle has a proven track record as a great guy who worked for Growlife Inc and helped build that company to where it is. He has a great vision and I really think that this was an error which can be fixed. I may be wrong, but it looks obvious enough to me that the HIVE purchase deal is way overvalued in comparison to the company VAPE Holdings. Does anyone share this opinion? Trade as you will, but it's very possible there was an error between the two 8-ks that were released. I wanted to point this out before anyone else gets hurt.
