Bellevue, Wash./Australian e-cigarette maker mCig Inc. (OTCQB:MCIG) announced Apr. 21 that its wholly owned subsidiary VitaCig Inc. has filed a Form S-1 (prospectus) with the Securities and Exchange Commission (SEC).
It is registering 250,000,000 VitaCig Inc. shares that will be paid out to mCig shareholders as a dividend on the record date.
The record date has now been declared. That date shall be defined as the first business day following an effective statement from the SEC in regards to the Form S-1 filing.
VitaCig, Inc. Spin-Off, Dividend, and IPO
Purpose: The Purpose of the Spin-Off is to allow VitaCig Inc. to operate as an independent company operating within the electronic cigarette space by harnessing mobile vaporization for medical delivery.
Pro Forma Capital Structure: VitaCig Inc. will have 560,000,000 shares Authorized, 500,135,000 shares Outstanding, with mCig Inc. owning 246,786,424 of that total representing 49% of the outstanding shares. The remaining 51% of VitaCig Inc. will be owned by current mCig, Inc. shareholders as well as mCig, Inc. management.
Dividend Ratio: Every shareholder of mCig Inc. will receive a dividend of One (1) share of VitaCig Inc. for every One (1) share of mCig Inc. owned on the Record Date.
On Apr. 21, MCIG’s share price closed at 60 cents, up 4 cents from the share price of 56 cents the previous day, on volume of 4.4-million shares.
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American Heritage International’s Selling Disposable e-Cigarettes in 11 States
In other news, American Heritage International Inc. (OTCQB: AHII) stock volume also soared Apr. 21, with 875,230 shares changing hands, substantially higher than its three-month average volume of 540,244 shares.
The high volume comes on the heels of yet another positive press release from the Las Vegas-based disposable e-cigarette maker.
American Heritage’s Footprint Growing
American Heritage announced that its premium brand of disposable electronic cigarettes will be available for sale within the states of Nevada and Illinois as it expands its distribution across the nation. With these additions, customers can now purchase American Heritage(TM) in eleven States including: Arizona, California, Florida, Illinois, Nevada, New Mexico, New York, North Carolina, Ohio, South Carolina and Texas.
"American Heritage's primary focus has been and will continue to be moving our company forward by growing our brand and securing the maximum possible retail exposure for our best in class product," CEO of American Heritage Anthony Sarvucci said, in a written statement.
On Apr. 21, AHII’s share price closed at 89 cents, up 4 cents from the share price of 85 cents the previous day.
Vapor Group Inc. Share Volume Soars Second Day in a Row
Meanwhile, Vapor Group, Inc., formerly AvWorks Aviation Corp., (OTCQB: SPLI) stock volume continued to soar Apr. 21, with 25,193,591changing hands, significantly higher than its three-month average volume of 17,517,169 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 would show its new, cutting-edge vaporizers at the High Times’ U.S. Cannabis Cup held at the Denver Mart, Denver, Colorado, on Apr. 19 to 20. More than 40,000 adults and 700 vendors are expected for the two-day public event. Vapor Group will be exhibiting the new products at its booth 203B.
"There is no doubt that this is a truly unique 'show' reflective of the changing times we live in. As you already know, Vapor Group manufactures and markets several e-cigarette brands and high-tech vaporizers suitable for a range of purposes," Vapor Group’s President Dror Svorai said, in a written statement.
This latest good news comes less than a week after Vapor Group revealed that it had acquired 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. 21, SPLI’s share price closed at 12 cents, unchanged from the previous day’s close.
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