We wanted to update shareholders on Rapid Fire Marketing’s business plan going forward, now that the company’s equity is listed on the OTCQB and fully reporting.
Production: As I mentioned in the last update, we would go to production at the end of the Chinese New Year. HexCorp had some issues with the factory in China as the one they were using closed unexpectedly and a new manufacturer had to be vetted and a contract negotiated. The initial production unit has arrived in California for inspection and testing. Full scale production will begin shortly. Our expectations are that in three to six weeks the units will arrive at our fulfillment facility in California. The delays have been frustrating and unexpected, but we are looking forward to having our first unit available for purchase by June. We have an enormous amount of interest expressed from the marketplace in our new dual chamber, dry blend vaporizer, not only from prospective buyers, but from other vaporizer manufacturers as well. Our proprietary battery incorporated in the design of the unit offers a considerable amount of usage between battery charges.
Patent and Trademark: Perhaps not well known by many shareholders, trademarks take much longer when they involve anything that can be used for tobacco. Vaporizers fall into this category. However, we initiated the trademark process ten months ago, so our expectations are that we will soon obtain trademark approval. The patent application will be submitted in the near future.
Branding and Graphics: This week, we will release graphics of the branding and logo of the new unit. We hired a professional marketing firm to complete the branding and logo work for this vaporizer unit.
Additional Vaporizers: We are currently in discussions with two vaporizer companies, but I am not at liberty to discuss any details because there is a non-disclosure agreement in place while negotiations are being conducted. Our own online sales site will be launched soon to facilitate the direct sales of the new vaporizer. The potential joint venture and agreements we are working on are not just for sales of vaporizers, but other items related to the rapidly growing medical cannabis industry. We are open to discussing a possible exchange of equity with a vaporizer manufacturer. We are also considering a significant equity position in other vaporizer companies or outright acquisition. I apologize for being a bit vague on details but, at this juncture, it is necessary.
Strategy going Forward
Other Strategies: While we are concentrating on the vaporizer and medical cannabis industry, we are looking at other potential agreements which will provide an immediate return on investment and added revenue to Rapid Fire Marketing. Our new website currently under construction will reflect our strategy.
Gary Gordon has been instrumental in bringing deal flow to Rapid Fire Marketing. He has taken a great deal of responsibility since joining the company and has enabled me to concentrate on finishing corporate business. He is leading the early rounds of negotiations and discussion and his knowledge of the vaporizer and medical cannabis industry has been invaluable. Bringing Gary on board has been one of the best moves we have made.
Gary will also be attending conferences and trade shows this year with regard to vaporizers and medical cannabis. A schedule of conferences that he or other representatives of the Company will be attending will be announced as we begin introducing our innovative vaporizer to the market place.
Now that we have attained fully reporting status, our attorneys are working hard to get the DTC chill cleared. They have a dialogue with the DTCC and we expect to have an answer with regard to any further documentation we need to provide. We understand the importance to have every potential investor be able to invest in Rapid Fire Marketing, regardless of which brokerage firm they have their investment account with. This is a high priority item…
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