Vapor Group, Inc., VPOR, Announces Reduction in Quantity of Authorized Shares of Its Common Stock
July 24 2014 - 8:06AM
eTeligis
DAVIE, FL /eTeligis/ Vapor Group, Inc. (OTCQB:
VPOR), (the “Company”, “Vapor Group”), announced today that its
Board of Directors had approved on July 22nd a reduction
in the total number of authorized shares of its common stock from
two (2) billion to one (1) billion shares.
Dror Svorai, President and CEO of the Company stated, “Several
of our shareholders have expressed concern over the large number of
shares of common stock that we could issue over time. We are
delighted to announce that we have decided to immediately file an
amendment to our Articles of Incorporation reducing the number of
authorized shares of common stock to one (1) billion from two (2)
billion – that is, we are cutting it in half. Over time, we will
re-evaluate the number of shares of common stock authorized, and if
we can cut it further, we will. We believe that this change
represents a reduction in the amount of dilution that can impact
our shareholders.”
He added, “This change also represents our continued review and
evolution of our corporate structure and overall business
strategies which is part of a major long term expansion of our
business.”
About the Vapor Group
Vapor Group, Inc., www.vaporgroup.com, 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, which may or may not contain 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, American Smoke and Vapor Products brands. It
sells nationwide through distributors, wholesalers and directly to
consumers through its own websites and direct response
advertising.
All of its E-cigarettes consist of a long-life battery, a
heating element, a cartridge filled with an “e-liquid” and an
atomizer which when heated vaporizes the e-liquid. Because
E-cigarettes are not “lit” like regular cigarettes, they don’t
create flame, smoke from burning, ash, tar, noxious fumes or
leftover “cigarette butts”. As a result, they may be used virtually
anywhere.
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, Inc. 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.
Safe Harbor Statement:
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
SOURCE: Vapor Group, Inc.
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