The management re examined the current share structure of the company and determined that the reverse split is unnecessary at this time. Several factors that helped with this opinion are; expanded interest in the company's market cap, comparison to other companies in the sector with comparative or larger share structures, and ultimately current shareholders best interest. The company's continued negotiations with Hedge Funds and Investment Groups will determine the future of the market cap and share structure. As revenue increases, the company is planning to implement repurchase of common shares and is in negotiations with several large shareholders and owners of preferred shares to retire their blocks of stock to the treasury. We believe this is the most prudent path to follow for our company and our current and future shareholders.
Vortex Waterpipes is best known for its patented product, the 'Gravity Vortex', which won the High Times Cannabis Cup's Gold Medal in 2006. The company's other products include a freezable glycerin coil condenser and a Glowing LED glass pipes. The company has sold over 100,000 units, and has grossed over a million dollars in wholesale sales of its core product line. Vortex has been successful by creating innovation, running efficiently, keeping overhead costs low, and mass networking and marketing. Vortex Waterpipes have been featured in the popular television series Weeds and Wilfred.
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Forward-Looking Statements: The information posted in this release may contain forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions.
Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.
For more information:
Luther JeffriesCEO ProTek/Luxuriant Holdingslutherjeffries@gmail.com