Vapor Hub International Inc. (OTCQB: VHUB) saw its share volume surge on June 2nd with 1,175,329 shares exchanging hands, almost double its three month daily average volume of 611,608 shares.
This uptick in volume comes after Vapor Hub International announced just last week that an exclusive distribution agreement was signed with SoCal Vape Bar and Lounge, Inc., to which SoCal Vape Bar and Lounge will exclusively distribute the Company's AR Mods in California for an initial term of three months.
"We received a contract and payment in full for the AR Mod version 1.5, (V1.5) to be released in mid to late June," states Brendan Shafton, Sales Manager for Vapor Hub International. "In order for the Company to accept such an offer, we needed to ensure that we are working with the right distribution partner. California is one of our biggest markets, especially southern California."
"The new AR Mod V1.5 has changed the top contacts and the internal components of the bottom button, providing a remedy to the common hot button issue. These are the most prevalent improvements and are based on customer feedback and additional research. We also are offering new colors that are powder coated and hydro-dipped with cool patterns like digital camouflage," added Brendan.
VHUB closed the day at $.458 on June 2nd, 18.21% lower than its previous close of $.56.
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mCig, Inc. Provides Update On Status Of VitaCig, Inc.
mCig, Inc. (OTCQB: MCIG) saw its share volume plummet on June 2nd with 1,033,371 shares exchanging hands, four times lower than its three month daily average volume of 4,228,635 shares.
MCIG recently provided its investors with an update on the status of the VitaCig, Inc. subsidiary spinoff and pro-rata dividend. On April 21, 2014, VitaCig, Inc. (an mCig, Inc. subsidiary) filed for an IPO (Initial Public Offering) with the Securities and Exchange Commission (SEC) under form S-1.
Form S-1 is a disclosure document that registers shares for resale with the SEC. Once the SEC declares an S-1 effective, every share registered becomes freely tradable and the company filing the document (in this case VitaCig, Inc.) becomes eligible for public listing.
In VitaCig's case, the shares being registered totaling 250,000,000 represent the amount of shares that will be paid out as a dividend to existing mCig, Inc. shareholders on a one (1) for one (1) basis such that every mCig, Inc. shareholder with one (1) share will receive one (1) share of VitaCig, Inc. that will be freely tradable following an effective declaration from the SEC.
mCig, Inc. is pleased to report that on May 16, 2014 the company received an initial round of comments from the SEC. The company's legal counsel is currently preparing an amended S-1 that will be filed with the SEC by June 15th, 2014. At that point, the SEC may return with additional comments or alternatively, declare the registration statement effective which in turn would allow VitaCig, Inc. to obtain a stock symbol and begin trading on the OTC Exchange.
"We have received an overwhelming amount of investor communication regarding this topic. Unfortunately, there is not a faster way to pursue a public listing with a pro-rata dividend other than filing for a new IPO as we have done. I want to stress that we remain committed to this process and will do everything in our power to see that VitaCig, Inc. obtains a public listing expeditiously. We are even more excited about the prospects of VitaCig, Inc. which is growing in popularity at a much faster rate than mCig," said Paul Rosenberg, CEO of mCig, Inc.
MCIG closed the day at $.5025 on June 2nd.
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Vape Holdings, Inc. Sees Share Volume Slide
Vape Holdings, Inc. (OTCQB: VAPE) saw its share volume fall on June 2nd with 132,895 shares exchanging hands, significantly lower than its three month daily average volume of 347,864 shares.
With no recent news being released by the company, one can only speculate why the decrease in share volume occurred, but here is what is known about the company:
Vape Holdings is a company with its primary focus in the manufacturing and distribution of healthy and sustainable vaporization products. HIVE Ceramics is the premier brand under the Company umbrella, bringing to market a medical and food grade ceramic that has countless design and product crossover capabilities in existing and emerging markets. The company operates in Los Angeles, California with current distribution throughout North America and Europe.
VAPE closed the day at $2.05 on June 2nd.
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