Monday, March 10, 2014 3:50:23 PM
First, I am long SPLI but I would like some clarification of a couple of statements made/not made in the PR
(Vapor Group, Inc., SPLI, Announces Changes in Merger Agreement and Capital Stock Structure)
1) The Company shall file an Amendment to its Articles of Incorporation whereby any and all existing shares of its voting Series A Preferred Stock shall no longer be convertible, in whole or in part, into shares of common stock of the Company at any time ("Common Stock"). To date, no such shares of Series A Preferred Stock have not been converted.
This statement sounds like all of the Series A Preferred have been converted to common shares since it says no shares of Series A Preferred Stock have NOT been converted.
Does anyone know if this is a misprint?
2)I see no indication that the AS (not listed on OTC but must assume somewhere between 750 Mil and 1 Bil) will be reduced by 30:1. If this is the case then isn't there a danger that the company dilute from a much higher share price all the way back to where we are now?
I want to here good things not bad but can just gloss over these questions.
Does anyone out there have some answers?
Is the TA or CEO available for clarification?
TIA
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