Vapor Hub International, Inc. (OTCPINK: VHUB) CEO Kyle Winther discussed moves the company has undertaken to eliminate toxic debt.
July 10, 2015 – CEO Kyle Winther interviewed on MoneyTV with Donald Baillargeon and talks about eliminating toxic debt, growth of sales, innovative products, and continued sales growth. Watch the video interview as Kyle Winther explains the companies growth strategy and innovation.
Vapor Hub International Inc. (OTC: VHUB) (www.vapor-hub.com) is pleased to announce that its third monthly installment of interest and other fees owed to Typenex Co-Investment, LLC was paid in cash. No shares were issued by the Corporation to pay the installment.
“Our intention continues to be to pay this back entirely in cash,” said Kyle Winther, VHUB CEO. “We know that investors and potential investors were concerned that we would repay this debt through the issuance of shares, which would have been potentially dilutive to our shareholders. We expect to pay the facility in its entirety in seven months.”
Vapor Hub International Inc. (OTC: VHUB) (www.vapor-hub.com) announced today that it converted $614,341, representing the entire principal amount and all accrued interest on all promissory notes issued by the Company to Gotama Capital, S.A., into shares of the Company’s common stock at a conversion price of $0.15 per share. In total, Vapor Hub issued an aggregate of 4,095,605 shares in order to retire the debt owed to Gotama. The closing price of the Company’s common stock on the OTC market was $0.0419 on June 30, 2015.
Kyle Winther, Vapor Hub’s Chief Executive Officer, stated, “We are delighted to have retired the debt owed to Gotama by converting the debt at a conversion price in excess of our market price. We removed a significant amount of debt from our books and avoided dilution to our stockholders.”
Vapor Hub also announced that it has an outstanding balance of approximately $260,000 as of June 30, 2015 under the convertible promissory note the Company issued to Typenex Co-Investment, LLC on November 4, 2014, after offsetting all amounts owed by Typenex to Vapor Hub under the facility. “By offsetting the amounts owed by Typenex to Vapor Hub, we have reduced a potential source of dilution to our stockholders. Our current intention is to repay the outstanding balance in cash to further avoid dilutive stock issuances,” Mr. Winther concluded.
Vapor Hub International Inc. (OTC: VHUB) (www.vapor-hub.com) is pleased to announce that revenues for May 2015 topped $630,000, the top month in the Company’s history.
Kyle Winther, Vapor Hub’s CEO, attributed the increase to new products that have captured the imagination of customers and attendance at sales conventions in the U.S. and the United Kingdom. “We continue to grow our revenues, and expect June sales to be strong as well,” stated Mr. Winther.
“Our Limitless Mods http://www.vapor-hub.com/product-category/mechanical-mods/sleeve-mod-by-limitless/ continue to be our number one seller and we are very pleased with the margins on our own products,” Mr. Winther concluded.
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Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this press release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the statements contained in this press release are reasonable, there can be no assurance that such statements will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.