CARSON CITY, NV - (NewMediaWire) - November 6, 2015 - Rapid Fire Marketing (OTC PINK: RFMK) has issued the following update on the Company's businesses, including The PocketPuffer™ Dry Herbal Vaporizer, Industrial Hemp Farm and Corporate Plans:
PocketPuffer™ Dry Herbal Vaporizer
According to the manufacturer, The PocketPuffer's™ first production run has been completed. As stated in CEO Tom Allinder's most recent update, there was one minor problem to be resolved which is now resolved but resulted in an additional cosmetic problem, which has also been corrected at the factory. The manufacturer has stated that they expect to receive a test sample of the completed units today. The manufacturer will test the units upon receipt. If the issues are indeed resolved, shipping arrangements will be made to air ship the units to the fulfillment facility.
The ecommerce module at Pocket-Puffer.com is in work and will be launched when the Company receives the first units for inventory and fulfillment of orders.
Marketing of the Pocket-Puffer™ will begin upon arrival of the first production units.
Drawing winners from the first drawing were notified and the second drawing winners will be notified in the next two weeks.
Tom Allinder, CEO of Rapid Fire Marketing, said, "Needless to say, our procurement methods will change for the future given all that we have been through with the PocketPuffer™ product development and production. I clearly understand the challenges of creating a proprietary unit and I have been beyond patient during this process and so have our shareholders. I am confident that this production odyssey is going to finally end and we can begin marketing and selling the PocketPuffer™ and start booking revenues."
Industrial Hemp Farm
Rapid Fire Marketing has been working on the infrastructure for the Industrial Hemp Farm since July. The Company is still awaiting completion of the permitting process through the State of California. Based on information we have now this process may be completed before the end of the year but there are no guarantees on this timeframe. RFMK cannot give a timeline on this permitting process as it is out of the Company's control.
In the meantime, the leased land is being surveyed and acreage being sectioned off in preparation for planting. The Company will begin cultivating the soil to establish the correct PH and nutrient levels prior to planting.
Discussions with Industrial Hemp companies have taken place regarding possible joint ventures related to seed procurement, cultivation methods, processing plants available, in addition to offers to plant and harvest throughout different states that already provide permits for growing Industrial Hemp.
"We are anxious to get going with industrial hemp. We have made connections with several state directors of hemp industry associations as well as other industrial hemp business owners in the private sector. We have opportunities to expand our hemp operations beyond California."
Allinder continued, "I really do believe that industrial hemp is going to be a significant contributor to the future of this Company. To that end, we are building business relationships and a network in the industrial hemp industry. We are also looking to establish investments in other hemp players, joint venture partners and acquisition candidates in the industrial hemp industry."
Rapid Fire Marketing has reached a point whereby the Company no longer has the necessary funding to move forward with either the vaporizer business (beyond the PocketPuffer™) or the industrial hemp business. In order to allow us to receive additional funding, we are going to file a 14C Preliminary with the SEC to execute a 1000:1 reverse split of the common stock.
CEO Tom Allinder commented, "I really did not want to get to the point of having to reverse split the Company's stock. However, getting the Company to fully reporting status and well organized on the public side was very time intensive and expensive. The delays in getting the PocketPuffer™ to market eroded a lot of value in the Company as well. We have opportunities in the vaporizer business and the industrial hemp business for joint ventures and acquisitions. We need quality funding and a capital structure that is much tighter in order to take the Company to the next level -- which is establishing revenue growth and, eventually, profitability.
"The plan all along has been to get RFMK to fully reporting status, build a business, grow revenues and become profitable. The economic reality is that you must become cash flow positive if you want to move forward in business. The old days of living off of funding and recycling ideas and never getting to profitability are dead and gone forever. We have been in discussions for months now and believe we are in a position to get RFMK moving in the right direction on the business side via the vaporizer and industrial hemp industries with the ultimate goal of having a cash flow business. However, we cannot get there from here. This is why I have decided to move forward with the reverse split. I am very confident at this point with what we have in place that once the reverse is executed, we will be able to start creating value for the Company and its shareholders," Allinder concluded.
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About Rapid Fire Marketing, Inc.
Rapid Fire Marketing, Inc. is involved in three business activities:
The Company is a developer and re-seller of herbal vaporizers. Developed vaporizers include the CANNAcig and Cumulus while the PocketPuffer™ is now developed and in production.
Rapid Fire Marketing has recently entered the Industrial Hemp Farming industry. To benefit from the recent deregulation of Industrial Hemp throughout the United States, the Company has acquired a land lease for an initial 66 acres and all of the equipment necessary to operate the farm.
Rapid Fire Marketing also looks to invest in, joint ventures with or acquire companies in the vaporizer or vaporizer accessory industries as well as the industrial hemp industry.
From time to time, the Company may issue news releases that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be "forward-looking statements." "Forward-looking statements" are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.