DAVIE, FL / ACCESSWIRE / August 22, 2014 / Vapor Group, Inc. (OTCQB: VPOR), (the "Company" or "Vapor Group"), today released a letter to shareholders from its President and CEO, Dror Svorai. In the letter, Dror Svorai discusses the results for the first 6 month of 2014:
This past six months have been very eventful for us, and as a result we have great expectations for 2014
First, for the six months ended June 30th, as reported in our 10-Q, our revenues were $1,991,776, an increase of $1,897,049 or approximately 2003% from 2013 for the same period. Overall year-to-date, Vapor Group's sales have continued strong and steady month over month this year.
To accelerate our sales further, we added several additional persons to our salesforce who are all experienced and expert in the sales of e-cigarette products and accessories.
In the past few months, we opened our first two "Total Vapor" company stores in the greater Miami area, selling our full line of products. We are working on opening a total of ten retail locations in metropolitan Florida this year.
In July we began the process to franchise our "Total Vapor" store concept in Connecticut, New York, New Jersey, Pennsylvania, Delaware, Maryland, Virginia, North Carolina, and Washington D.C. We will have more to report on progress here in the coming weeks. Each of these market areas represents great sales potential and we are excited by the projects.
In March we increased our percentage ownership of online retailer, American Vaporizer, LLC, and due to slower growth than projected, and the need for incremental investment, sold off our 51% interest of this company in June, so that we could refocus our marketing strategy and inventory investment and obtain a better return on our working capital. Important, the sale allows us to better focus our efforts on our core brands and the new products that they will bring to market this fall.
That said, we are currently in development of a line of low-cost, affordable vaporizers, including one available as a blister pack, and a limited edition series of vaporizers as well, all of which will be available by the holiday season.
Separately, in the coming month, we will update you on our considerable progress in establishing broad distribution in the State of Colorado.
In the coming months I look forward to providing you with further updates and the progress that we are making.
Very truly yours,
Dror SvoraiPresident and CEOVapor Group, Inc.
About the Vapor Group
Vapor Group, Inc., www.vaporgroup.com, is in the business of designing, developing, manufacturing and marketing high quality, vaporizers and e-cigarette brands which use state-of-the-art electronic technology and specially formulated, "Made in the USA" e-liquids, which may or may not contain nicotine. It offers a range of products with unique e-liquid flavors that is unmatched in our industry. Its products are marketed under the Vapor Group, Total Vapor, Vapor 123, American Smoke and Vapor Products brands. It sells nationwide through distributors, wholesalers and directly to consumers through its own websites and direct response advertising.
All of its E-cigarettes consist of a long-life battery, a heating element, a cartridge filled with an "e-liquid" and an atomizer which when heated vaporizes the e-liquid. Because E-cigarettes are not "lit" like regular cigarettes, they don't create flame, smoke from burning, ash, tar, noxious fumes or leftover "cigarette butts". As a result, they may be used virtually anywhere.
Vapor Group is committed to providing E-cigarettes that are convenient and economical to use, safer and healthier than traditional smoking, and which provide a flavorful, enjoyable smoking experience.
Vapor Group, Inc. is managed by a highly experienced team of executives committed to responsible business policies and practices, including the marketing of our products only to those eighteen years of age or older, not making or avoiding claims about our product health benefits, and fulfilling the requirements of all applicable laws and regulations.
Safe Harbor Statement:
This release includes "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. Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.
Vapor Group, Inc.
SOURCE: Vapor Group, Inc.