July 25th PR just released here: VAPE
Vape Holdings, Inc.
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VAPE Holdings Provides Shareholder Update and Announces New Product Line
Jul 25, 2016
OTC Disclosure & News Service
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VAPE Holdings Provides Shareholder Update and Announces New Product Line
AGOURA HILLS, CA--(Marketwired - Jul 25, 2016) - VAPE Holdings, Inc. (OTCQB: VAPE)
Dear Shareholders,
I want to thank all of you for supporting VAPE Holdings through the toughest time in our company's history. I apologize for the delay in introducing myself and communicating my plan for the company. With the situation that VAPE Holdings was in, I felt that it was my responsibility to take the time to outline and convey a plan that I believe will be essential to our recovery. My predecessors had good intentions for the directions they went in, but ultimately fell short. Over the next six months I hope to reinvigorate VAPE Holdings and guide it down the road to success by focusing on the following key factors:
Fiscal Conservatism:
We have worked diligently to scale back operations and will continue to reduce any unnecessary expenses in the future. Our goal is to be at an operational breakeven and then move into profitability. We hope to avoid any type of toxic financing and use profits to grow our company responsibly.
Stick to the Business Model:
We are refocusing on our core business, which is developing innovative products and distributing them to a premier customer base of retailers. In the near future we plan to release our new "advanced ceramic" product line, ONYX, that will help refine the industry and further strengthen the reputation of HIVE and VAPE Holdings. A limited number of our newly designed ONYX product will be for sale on the HIVE Ceramics website in the near future. In addition to strengthening our foundation we plan to selectively distribute high quality products from other brands as the opportunities present themselves, allowing our customers to do more of their purchasing from us.
Stabilize Capital Structure:
Many of VAPE Holdings' recent challenges have been caused by investments that haven't returned profits in excess of the cost of capital. We have been working around the clock to stabilize the capital structure and are focused on finishing the debt consolidation. We also plan to work with investors to manage the conversion of outstanding notes so the impact of new shares on the market is manageable.
Clarity for investors:
I am committed to sharing information about our progress on these matters and working with you to revitalize VAPE Holdings. We have received advice and offers from our shareholders within the industry to assist where they can. We appreciate this tremendously and hope to work with all parties to positively impact the company. We would like any of our shareholders to contact our Investor Relations team to receive updates or discuss any potential joint efforts. In addition to reaching out directly we will be updating you through our press releases, public filings and website regularly.
Thank you again for your continued support. I look forward to working together to create a long and bright future for VAPE Holdings.
Best Regards,
Benjamin Beaulieu
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