$0.03 in four months. $3M isn't squat for a $multi-billion market. It's a small dilution if anything. 100M shares. If ECIG is even a fraction of 52 week high in four months then this 8K worthy investor has made a very wise investment.
Sometimes the deal that they shook hands on is not the same deal we can read in the contract. It could be O'Neils friends at Molson Coors or BRP for all we know.
I doubt this stock ever sees anything below a dime again, even intraday, unless there is a major disaster and this 8K is actually a good thing IMO and as others have already stated.