Vapor Group, Inc., formerly AvWorks Aviation Corp., (OTCQB: SPLI) stock volume soared, with 29,037,846 changing hands, more than twice its three-month average volume of 13,920,598 shares.
This comes on the heels of the Davie, Fla.-based automobile parts firm that morphed into a medical-marijuana accessory company's announcement that it to acquire a 51% ownership interest in online reseller of e-cigarette products and accessories, American Vaporizer LLC, marketer of the brand, "American Smoke." Terms and conditions of the transaction weren't disclosed.
"We have been negotiating obtaining a majority ownership in this company for some time," said President of the Vapor Group Dror Svorai, in a written statement. "We have had a 25% ownership interest in American Vaporizer since its inception and believe that now is the time to increase our stake," he added.
Despite this positive announcement and the recently completed merger of AvWorks Aviation Corp., SPLI, and Vapor Group Inc., its stock has lost more than half of its value in less than a month.
On Apr. 10, SPLI's share price closed at 13 cents, down 6 cents from its closing price of 19 cents the previous day.
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Titan Iron Ore Corp. Changes Name to iHookup Social Inc.
In other news, Titan Iron Ore Corp. (OTCQB: TFER) stock volume also skyrocketed Apr. 10, with 110,735,892 shares changing hands, more than twice its three-month average volume of 63,087,156 shares.
The surge in stock volume comes one day after the Campbell, Calif.-based one-time iron ore company turned dating service app maker announced that it has received confirmation of its name change, with an effective date of Apr. 11, 2014.
Also Changing Ticker Symbol
Additionally, a symbol change with FINRA to (OTCQB: HKUP) is in process, along with the company's latest 14C filing of its reverse stock split with the Securities and Exchange Commission. The Company's new name will be iHookup Social, Inc. when the market opens on April 11, 2014.
"Our new corporate name allows the company to align our operations, brand, and financial presence far more effectively going forward," stated Robert Rositano Jr., iHookup Social's chief executive. "The name change, reverse stock split and new symbol are the next step toward building the proper foundation after the merger of Titan Iron Ore Corp. and iHookup Social, Inc. We believe that this step will further enable the company to leverage the goodwill on our popular app and its growing 140,000 plus users."
The company has applied for a 20-1 reverse stock split which we believe will allow our stock to now be traded by a much broader group of investors, while achieving the May 1, 2014 requirements for its OTCQB market listing.
On Apr. 10, TFER's share price closed at 0.0021 cents, up 0.0002 cents from its closing price of 0.0019 cents the previous day.
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Vega Biofuels to Acquire Biochar Now's Legal Hemp and Marijuana Division
Meanwhile, Vega Biofuel, Inc. (OCTPINK: VGPR) stock volume surged Apr. 10, with 79,580,664 shares changing hands, significantly higher than its three-month average volume of 62,556,428 shares.
The uptick in volume is being fueled in part by the recent announcement that the Norcross, Ga.-based biofuel's company has entered into an agreement to acquire the Legal Hemp and Marijuana Division of Colorado based Biochar Now LLC.
Biochar Now currently markets its biochar product to growers in various agricultural industries. The legal hemp and marijuana business has increased significantly with the legalization of medical marijuana in several states and the legalization of recreational marijuana use in Colorado and Washington.
Vega Biochar, a wholly subsidiary of Vega Biofuels, Inc. will continue marketing biochar to the current clients of Biochar Now's legal hemp and marijuana division and plans to immediately expand its marketing to growers throughout the United States and around the world.
On Apr. 10, VGPR's share price closed at 0.0082 cents, down 0.0015 cents from its closing price of 0.0097 cents the previous day.
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