MIAMI, Aug. 17, 2016 (GLOBE NEWSWIRE) -- VPR Brands (OTC:VPRB) has reported revenues of $61,526 and $36,936 cost of sales which leaves $24,590 gross profit on sales of it’s HELIUM Brand E-Liquid.
Kevin Frija, Chief Executive Officer of VPR Brands commented, "We have achieved a huge milestone and had our first quarter of revenue for the company, while a modest amount of $61,526 in sales this represents our initial entry into over 100 retail vape shops with our new HELIUM brand E-Liquid in the United states and abroad including the United Kingdom and China. We began shipping our HELIUM brand product in late April and continued placing product through May and June. We have already received and shipped reorders from customers and distributors on the initial placement as their initial stock had sold through."
On July 29, 2016, VPR Brands acquired the wholesale business assets, brands, and operations of Vapor Corp. There was no revenue realized by VPR Brands in the 2nd quarter from this acquisition.
Looking ahead Mr. Frija stated, "We are excited to acquire the business and add to our portfolio of brands with each catering to a different market segment and price category from the Vape Shop market with our HELIUM brand to the alternative medicinal market with our HONEY STICK and VAPORX brand as well as to regain a foothold in the convenience store and supermarkets with VAPORIN, KRAVE and HOOKAH STIX brands."
All of these brands and sku's once registered and filed with the FDA will fall into the FDA Regulations compliance period and can remain on sale at least until August 8th of 2018 and for those with PMTA's filed until August 8th of 2019. "We have a lot of work ahead of us but we have a great team and we all look forward to taking on the challenges together as well as taking advantage of the opportunities that lay ahead," said Frija.
VPR Brands is a technology holding company, whose assets include issued U.S. and Chinese patents for atomization related products including technology for medical marijuana vaporizers and electronic cigarette products and components. The company is also engaged in product development for the vapor or vaping market, including e-liquids. Electronic cigarettes (also known as ecigs) are devices which deliver nicotine through atomization, or vaping of e-liquids and without smoke and other chemicals constituents typically found in traditional tobacco burning cigarette products.
This news release contains statements that involve expectations, plans or intentions and other factors discussed from time to time in the Company’s Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. The company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Source:VPR Brands LP