The cutoff for receiving dividends if you own shares of MCIG (the XDATE) will be announced in the next few weeks according to the announcement from the company on 2/25/13. I'm assuming the the NXDATE will be set to happen sometime before VCIG launches as a company on April 15. However, this is just an assumption. It could be anytime before VCIG starts trading (sometime between May 10 and June 21). It can't start trading if nobody has any shares. The NXDATE only fixes a time after which anyone who buys MCIG shares will not receive a dividend of shares in VCIG (the VCIG shares would go to whoever owned the MCIG shares before the NXDATE even if they no longer held the shares after the NXDATE). The physical shares do not have to be delivered to us until just prior to when trading begins in May or June. See below..
Several weeks from 2/25/14 = Xdate announced
End of March = Pre-orders start
April 5, 2014 = Target Filing date
April 15, 2014 = VCIG launched as separate company (first orders shipped?)
May 10 thru June 21 - Timeframe for public offering (shares trade)- 6 to 12 weeks from filing date
From the XDATE until May or June you only own rights to those shares. There are no actual shares to trade and no one to buy them from. XDATE's are usually about a month prior to when the dividends are delivered to give the transfer agent time to process their delivery to the rightful owners. When the XDATE is announced, they usually also announce a delivery date for the shares. I would imagine that would be the date the shares start trading. If that's the case, many of you will still not be able to sell your shares for several days while your broker processes the dividend (you will be able to buy them, however, if anyone has shares to sell - usually the MM's have a supply). The VCIG pps really can't go up until the public offering date because no one is trading them. However, in order to buy at $.05 on the day trading opens, you have to find someone willing to sell at that price. That may not be possible if in the meantime there are reports of major sales of E-cigs by VCIG. It all depends on the bid and the ask when the market opens.
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