FORT LAUDERDALE, FL -- November 23, 2016 -- VPR Brands, LP
(OTC
PINK: VPRB) announces record third quarter revenues, with
revenues of $608,354 which represent an 889% increase over the
second quarter 2016 revenues. The significant increase in revenues
can be attributed to our July 29th acquisition of the wholesale
division business and brands of Vapor Corp. (OTC
PINK: VPCO). The acquisition allowed us to record revenues
for two months in the third quarter.
We recorded a net loss of $121,583 for the third quarter,
primarily attributable to transition and implementation expenses
and legal and accounting expenses that are one time in nature and
directly related to the acquisition.
Kevin Frija, Chief Executive Officer of VPR Brands, said, "I am
very pleased with the successful integration and consolidation of
business operations so far. We have worked diligently and have
stabilized sales, which were in rapid decline quarter over quarter,
as well as month over month, prior to the acquisition. Our team has
identified and evaluated the core strengths and weaknesses of
operations and will focus on exploiting the strengths. We have also
started building by leveraging the experience of our staff,
developing great products for our portfolio, and further aligning
with key customers to extend our outreach."
Although our sales are not segregated by brand or product
category, our primary revenue source is from vaporization devices
specifically created for use with medical cannabis and recreational
marijuana. These devices are specifically created for use with
extract oils and concentrates which are vaped, providing optimal
results and the best experience for patients and recreational
users. Vaporizers are far more convenient and discrete compared to
traditional cannabis use methods. These units are compact, easy to
carry and concealable. Modern cannabis vaporizers do not emit
distinct and lingering odors that are affiliated with traditional
marijuana use. We believe that portable vaporizers as the fastest
growing delivery mechanism for marijuana. Our team is currently
working with other market leaders within cannabis growth and
extraction to innovate and further educate the marketplace on its
advantages.
About VPR Brands, LP
VPR Brands, LP (the "Company") 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 eliquids. Electronic
cigarettes (also known as ecigs or ecigs) are electronic devices
which deliver nicotine through atomization or vaping of eliquids
and without smoke and other chemicals constituents typically found
in traditional tobacco burning cigarette products.
Forward-looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such statements are subject to risks and
uncertainties that could cause future results to differ materially
from the forward-looking statements. This press release contains
information relating to the Company that is based on the beliefs of
the Company or its management, as well as assumptions made by and
information currently available to the Company or its management.
When used in this document, the words "anticipate," "estimate,"
"expect," "intend," "plans," "projects," and similar expressions,
as they relate to the Company or its management, are intended to
identify forward-looking statements. Such statements reflect the
current view of the Company regarding future events and are subject
to certain risks, uncertainties and assumptions, including the
risks and uncertainties noted. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
to be incorrect, actual results may vary materially from those
described herein as anticipated, believed, estimated, expected,
intended or projected. In each instance, forward-looking
information should be considered in light of the accompanying
meaningful cautionary statements herein. Factors that could cause
results to differ include, but are not limited to, successful
performance of internal plans, the impact of competitive services
and pricing and general economic risks, estimated, expected,
intended or projected. In each instance, forward-looking
information should be considered in light of these uncertainties.
The forward-looking statements in this release are made as of the
date hereof and the Company undertakes no obligation to update such
statements.