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Newgen Concepts Inc (OTCMKTS: VPOR) Making Another Upside Move

Newgen Concepts Inc (OTCMKTS: VPOR) Making Another Upside Move
Written by
Richard Sandle
Published on
May 1, 2017
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When we last reviewed Vapor Group Inc, now known as NewGen Concepts Inc (OTCMKTS:VPOR), the stock was retracing a strong upward spike that topped out on February 22, 2017 at $.0068. The stock is now in the midst of another upward price move after the retracement low of $.0018. The stock is currently trading at $.0031.

For those who are not familiar with the company, NewGen Concepts’ primary focus is the design, manufacture and marketing of high quality vaporizers, e-cigarette brands and custom formulated, high purity “Made in the USA” e-liquids. These products are sold under the Vapor Group, Total Vapor, and Vapor 123 brands.Total Vapor Inc is the exclusive worldwide distributor, and a direct reseller of the new Easy Grinder. The Easy Grinder is used by consumers to grind cannabis in preparation for consumption via a vaporizer, to smoke in pipe, or to roll it into a cigarette. The hand-held Easy Grinder is rechargeable, electronically controlled, and made to be fast and non-clogging even when grinding an herb of high moisture content. The simple-to-use grinder includes a built-in storage area to hold an ample supply of unground cannabis.Vapor Group has also positioned itself as an exclusive brand of electronic cigarettes, vaporizers and e-liquids. With more unique product lines out now, and more in the works, the company set out on a path of several major trends in this industry. The company hopes to capitalize by making the Vapor Group brands one of the leading choices for the everyday smoker’s alternative. The combination of the continued increase in the use of recreational cannabis resulting from the wave of legalization taking place across the country, and the practical utility and popularity of the product itself, has prompted a sharp increase in the demand for it.In response to feedback from initial consumer testing, on March 30, 2017, NewGen Concepts, Inc announced that all customers who had ordered Easy Grinder™ will receive an "enhanced version" at no additional cost. The enhanced version has an upgraded, much more powerful motor and battery, and a reconfigured, sharper grinding mechanism. Since the enhancements are being retrofitted into production, beginning deliveries scheduled for this month will be delayed 30 days or more, but not later than the end of May. Any customer that is unwilling to wait for their delivery of the enhanced version, will be issued an immediate refund by the Company.On April 27, 2017, Vapor Group, Inc announced that its Board of Directors approved a reduction in the Company's quantity of authorized common stock from fifteen billion to eight billion shares. The primary reason for the reduction was the Company's settlement or paydown of several convertible promissory notes reducing the overall debt owed to note holders. Dror Svorai, President of Vapor Group, stated:

"We have long been concerned about the amount of debt we have been carrying and the associated large quantity of authorized shares of common stock that we were required to reserve for it. We are delighted to announce that by reducing this debt significantly, we are now able to reduce our authorized common stock from fifteen billion shares to eight billion - cutting it almost in half. Importantly, this change represents a reduction in the potential for the ongoing dilution of our shareholders while simultaneously improving our overall financial strength."

First quarter financials for 2017 did not reflect the anticipated increase in revenues from the increased sales reported for the Easy Grinder product. Once the revenues start to show on the financials, the share price should follow. Current market capitalization stands at $13.09 million, on 5.02 billion shares outstanding as of April 28, 2017. We will be updating our subscribers as soon as we know more. For the latest updates on VPOR, sign up below!Disclosure: We have no position in VPOR and have not been compensated for this article.

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