Shareholder Update 22 August 2012 – The 10K Upda

Shareholder Update 22 August 2012 – The 10K Update
Posted: 22 Aug 2012 10:31 AM PDT
Just a quick update for investors regarding the 10K and a few other items…
As I mentioned in my last update, the 10K is the cornerstone of any fully reporting and transparent Company. Having a 10K on file with the SEC inherently adds value to Rapid Fire Marketing because of the transparency that the document provides for any investor or fund looking to invest in our Company.
Finally, after much work, our 10K is going to be finished by the end of this week or latest, early next week. The next step (very important) is to get our 10K through the auditors. This process is expected to take up to 4 weeks but could be less. Our financial and corporate team has painstakingly worked through every aspect of this document to make sure that we get through the audit process quickly.
Once the audit is complete, the 10K will be filed with the SEC. This is a HUGE event for this Company. But, the process will not stop there…
Once the 10K is on file with the SEC, I am going to appoint and announce 2 members to the Board of Directors for Rapid Fire Marketing. Both have accepted my invitation to join our Company. One brings over a decade of experience as a CEO of a very successful micro cap company; his expertise is in the corporate side of business with regard to growth and funding. The other is a current CEO of a micro cap company who has an extraordinary ability to grow companies, build brands and sell products.
I look at the business of Rapid Fire Marketing as having two sides: Corporate, and Product. Both are equally important. So, the first two members of the board will be the very best of the best on each side. Personally, I cannot wait to appoint these two individuals and subsequently announce their appointment…
Funding
I am happy to announce that our equity based funding package of $2M has been finalized and submitted to our funder. As stated in the previous update, if needed, we have an additional $2M committed to Rapid Fire Marketing from another funder that will work with us rather than against us (like some of the short term funders) in the marketplace.
However, once we are fully reporting and on the OTCBB and revenues continue to grow, the opportunity for even better funding could become available. For now though, we are quite pleased with what we have in place.
And, as stated in the previous update, I believe we are in the process of winding down the short term funding for two reasons:
Better terms from new and long term funders
Revenues are growing which means that our need for funding is shrinking
Products
In the short term, we are ordering 2,000 more units of the CANNAcig and within 30-45 days, we will be ordering 10,000 units of the CANNAcig and the new Cumulus Vapor Inhaler plus accessories, parts etc.
We expect to have a couple of important announcements out within the coming days regarding the product side of the business including the new Cumulus Vapor Inhaler.
Will keep you updated…
Tom Allinder
CEO
Rapid Fire Marketing