DAVIE, FL--(Marketwired - May 7, 2015) - Vapor Group, Inc. (OTCQB: VPOR), (the "Company" or "Vapor Group"), announced today that Dror Svorai, its President and CEO, and Yaniv Nahon, its Co-founder, COO and Secretary, had agreed to postpone their right to convert any of their aggregate 250,000 shares of Series B Preferred Stock of the Company, issued per the January 22, 2014 merger with AvWorks Aviation Corp., (the "Merger"), into common stock until after January 1, 2016. As reported in the Company's 8-K, filed on September 2, 2014 with the SEC, such a conversion could be made by each of them after July 22, 2015, eighteen (18) months after the Merger.
Dror Svorai, President and CEO, said, "Yaniv and I feel that neither of us has any need to convert any of our preferred stock this year, which would only add to the dilution of our common stock. He and I are committed to building long term shareholder value and believe that holding our preferred stock at least through January 2016, and perhaps even longer, will add to investor confidence and demonstrate that management is committed to building the value of the Company over the long term."
About Vapor Group, Inc.
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, 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., www.vgr-media.com, 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.
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.