Vapor Group, Inc., VPOR, Board of Directors Announces No Reverse Split in 2015
(firmenpresse) - DAVIE, FL -- (Marketwired) -- 05/05/15 -- Vapor Group, Inc. (OTCQB: VPOR) (the "Company" or "Vapor Group") announced today that in a meeting of its Board of Directors ("Board") held Friday, May 1, 2015, it had voted to defer any consideration of a reverse split of the Company's common stock until at the earliest January 2016.
Dror Svorai, President and CEO, said, "Even though the Company has gone on record that there won't be a reverse split through June 30, 2015 and that a reverse split may or may not be considered for the remainder of the year, several shareholders have expressed concern that in the remainder of the year the Board could vote to reverse split our common stock because of the amount of shares issued and outstanding. Clearly the concern is that such a reverse could negatively impact the value of our stock owned by our shareholders. Although the number of shares issued and outstanding remains of concern, the Board decided that in the interest of helping to maintain investor confidence that it would publicly state that it wouldn't authorize any reverse split in 2015." He added, "Moreover, the Board felt that our results for 2014, and those for the first quarter 2015 when announced, along with our ongoing efforts to further grow the Company, will help build the value of our common stock over the year. In other words, over time, we believe we don't need to reverse split our stock to have its value increase, we can accomplish this by demonstrating the growth of the Company."
Vapor Group, Inc., , is in the business of designing, developing, manufacturing and marketing high quality, vaporizers and e-cigarette brands which use state-of-the-art electronic technology and specially formulated, "Made in the USA" e-liquids, with and without nicotine. It offers a range of products with unique e-liquid flavors that is unmatched in our industry. Its products are marketed under the Vapor Group, Total Vapor, Vapor 123, and Vapor Products brands. It sells nationwide through distributors, wholesalers and directly to consumers through its own websites and direct response advertising. In addition, Vapor Group owns and operates VGR Media, Inc., , a full service interactive advertising agency, offering customized performance marketing solutions to help marketers of consumer products acquire new customers and maximize their return on investment. VGR Media operates in the U.S. and internationally.
Vapor Group is committed to providing e-cigarettes that are convenient and economical to use, safer and healthier than traditional smoking, and which provide a flavorful, enjoyable smoking experience.
Vapor Group is managed by a highly experienced team of executives committed to responsible business policies and practices, including the marketing of our products only to those eighteen years of age or older, not making or avoiding claims about our product health benefits, and fulfilling the requirements of all applicable laws and regulations.
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.
CONTACT:
Vapor Group, Inc.
954-792-8450
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Datum: 05.05.2015 - 12:00 Uhr
Sprache: Deutsch
News-ID 390857
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DAVIE, FL
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