Might as well be out. They have nothing to sell anymore. The remaining stores are costing them too much money to operate and it cost too much to close them. It cost them over $300K to close nearly half. They already lost ($17,376,046) as of June 30.
10-Q:
"During the three months ended June 30, 2016, the Company closed five retail vape stores. In connection with the retail store closings, the Company incurred approximately $101,000 of losses on disposal of computer equipment, fixtures, and furniture, $177,000 of exit costs for non-cancellable leases, and $33,855 of other exit costs for the three months ended June 30, 2016. During the three months ended June 30, 2015, the Company closed seven retail vape kiosks located in malls. In connection with the retail kiosk closings, the Company incurred approximately $96,800 of exit costs for non-cancellable leases for the three months ended June 30, 2015.
During the three months ended June 30, 2016, the Company’s wholesale and online operations did not generate positive cash flows and are projected to continue incurring operating losses for the foreseeable future. The Company concluded that goodwill was impaired and recorded an impairment charges of $1,199,484 for the three months ended June 30, 2016. The Company determined its trade names and technology carrying value exceeded the potential cash flow from their disposition. The Company recorded an impairment charge of $778,345 for the three months ended June 30, 2016."
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