MIAMI--(BUSINESS WIRE)--NewGen Concepts, Inc., formerly Vapor Group, Inc. (OTC Pink:VPOR), (“Company”), today released the following letter to shareholders from its President and CEO, Dror Svorai.
We have become aware that some shareholders have become concerned that there has been recent dilution in the market as the result of the Company’s issuance of shares of free-trading common stock.
For the record, the Company has not issued any common stock in 2017, nor has it in all of 2016. We have “held the line” on allowing debt conversions, and have maintained the same quantity of issued and outstanding common stock for this long period of time. What quantity of shares is trading today in the market is the same as has been trading in the market since 2015.
For the foreseeable future, we do not expect to issue any new shares into the marketplace.
Businesswise, we are a re-invented company. For 2017, we are committed to continue to grow revenues and drive shareholder value. In the coming months, I will provide you with further updates on the substantial progress that we are making.
Very truly yours,
|President and CEO|
|Vapor Group, Inc.|
About NewGen Concepts, Inc.
NewGen Concepts, Inc., www.newgenconcepts.com, acquires and develops commercially viable intellectual property. Formerly Vapor Group, www.vaporgroup.com, it focused on the manufacture and marketing of vaporizers, e-cigarettes and e-liquids. Through its subsidiary, Smart Wheels, Inc., it markets "Whizboard" scooters.
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. Such statements include any 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", "likely", "should", "could", "would", "may" or similar words or expressions. 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 in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, economic, competitive, and equity market conditions.