Newgen Concepts Inc (OTCMKTS:VPOR) reported that on July 20, 2017, Yaniv Nahon, the VP, COO and Secretary of the firm was engaged as the new CEO and President and Treasurer of the firm, and Dror Svorai, former President and CEO of the firm resigned as a director and officer of the firm and each of its subsidiaries so as to pursue other interests. At the same time, Jorge Schcolnik, CFO of the firm was elected as a member of the Board and Corporate Secretary.
On July 20, 2017, Dror Svorai finalized a stock purchase deal with SF Holdings LLC, wherein he sold complete stake of his Series ‘A’ Preferred Stock and transferred voting control of the firm to SF Holdings LLC. The terms of the stock purchase deal were not revealed. Mr. Svorai agreed for an unspecified amount of time to serve as a consultant to the firm’s management to support the transition.
On August 14, 2017, Newgen released its Q2 2017 disclosure statement mentioning the above changes. The firm even released its second quarter 2017 financial report. Yaniv Nahon, the current CEO and President of the company, expressed that the financial statements as of the close of June 30 don’t reflect the remarkable sales gains of Easy Grinder™ that the company has made since shipping, however, invoicing only commenced in early June, with product inventory coming in numerous shipments across the month.
So, the financial report highlight just a few weeks of Easy Grinder™ sales report. Nahon added that the market will witness a remarkable gain in their revenues in the upcoming third quarter financial report as Easy Grinder™ sales surged upward. Also, the company recorded considerable sales gains from its attendance at the BIG Industry Show in NY City in August, and the