DAVIE, FL--(NewMediaWire - 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.