Rapid Fire Marketing Issues Shareholder Update
Updates on The PocketPuffer™ and Merger/Acquisition Progress
CARSON CITY, Nev., Feb 17, 2015 /PRNewswire/ -- Rapid Fire Marketing (Pink Sheets: RFMK) has issued the following update on the Company's business and objectives going forward in 2015:
PocketPuffer™ Herbal Vaporizer
Over the last several months, numerous improvements to the PocketPuffer™ dry herbal vaporizer have been underway at the factory in China. Rapid Fire Marketing has had an ambitious plan from the beginning to develop our own vaporizer that is unique and provides a customer experience superior to competitors. From the start, we wanted a sophisticated unit with multiple temperature settings which is essential for the vaporization of a variety of herbs. Optimum vaporization occurs with different heat settings depending on the herb the user wants to vaporize.
This sophistication has the drawback of taking a significant amount of time to develop and having a unit that is ready for the marketplace. As we have said before, rather than rush a unit to the marketplace, we want to bring the best unit available to the marketplace.
We are expecting the final units to be received in California by next week. Once we receive these units, our factory representative, as well as members of our team will test the units. If all goes well, we can go to a significant production run.
Additionally, we have received our final trademark for the PocketPuffer™, from the United States Patent and Trademark office.
Merger/Acquisition Update
During the past year, we have been in discussions with several companies regarding a potential merger or acquisition. It is our contention that acquiring a cash flow positive company, or merging with a company that is either cash flow positive or working their way toward profitability, is the quickest route to long term growth for Rapid Fire Marketing.
There are many considerations in the merger/acquisition business. First of all, it has to make sense for our Company and it has to be a good deal for our Company and its shareholders. We are not going to acquire or merge with a company that will be to the long term detriment of the shareholders.
We have a three to five year plan for Rapid Fire Marketing. It is our objective to find the right acquisitions and then position the combined resources of the companies for growth into the future.
We believe there is a lot of value in our Company. RFMK is fully reporting with the SEC, as we file our 10-Qs and 10-Ks on time. And, most importantly for a potential private acquisition company with capital requirements, our Company has funding in place for a potential transaction.
We have made significant progress narrowing down the field of companies we have been in discussions with in regards to a merger or acquisition. We were close to consummating a deal after a great deal of due diligence but, in the end, it was not the best deal for our shareholders. This development has been a major factor in the Company not providing many updates because we felt we were so close to substantive news.
However, we have identified another attractive opportunity and we believe we are getting close to striking a definitive agreement in the near future which will lead to a whole new and exciting chapter in the story of Rapid Fire Marketing.
Tom Allinder, CEO of Rapid Fire Marketing, said, "Next month, I will have been the CEO of Rapid Fire Marketing for three years. It has been a long and difficult road for our Company and its shareholders. We were able to clean this Company up and get to fully reporting status, and even though it has taken a long time, we will bring our first herbal vaporizer to the marketplace."
Allinder continued, "We have put a lot of time, work and travel into meetings with potential acquisition and merger candidates over the last nine months or so. We have narrowed the field and I am hoping we can make an announcement soon on that front."
