VAPE HLDGS INC COM USD0.00001 (OTCMKTS:VAPE) is doing everything possible to retain control of its debt restructuring program. The company’s efforts is evident by its active accomplishments in debt restructuring process.
The company notified its shareholders that it has now entered into third round of its debt restructuring and consolidation process, involving $1,000,000 of the company’s debt. Vape shared that it had entered into a deal agreeing to buy and restructure $338,500 worth of convertible debt, held by two of its note holders.
The company had already closed debt amounting $119,806 in mid-March, belonging to JSJ Investments, Inc. While taking into account the total restructured debt, Vape has successfully closed or repaid nearly $779,000 of the previously issued debt. The company has now consolidated all of its debt to a single financing partner.
Debt issues will be resolved
Following this achievement, the company’s CEO, Justin Braune, reassured the shareholders that they will be able to put the debt issues behind if the company executed the plan systematically. He added that nearly 80% of the company’s convertible debt has been restructured and consolidated into its new financing partners. Braune took pride in stating that the company has been able to accomplish most of what it had promised to shareholders in 2015.
Braune did add that the execution of debt restructuring plan will give the company room to concentrate on boosting its core business, which includes Revival and Hive Ceramics. Moreover, the company is already in the final stages of developing its CBD line of products.
Apart from this, the growth prospects for Vape remain solid given the frenzy in marijuana based stocks. Several polls have indicated that as many as 14 states could legalize pot, either through ballot or state legislation. In any case, the ultimate winner be marijuana based stocks including Vape.
The stock of the company rose by as much as 30% to $0.0130 during the previous trading session.