VPOR CEO Issues Letter to Shareholders
Ecigarfan — DAVIE, FL / ACCESSWIRE / August 22, 2014 / Vapor Group, Inc. (VPOR), (the “Company” or “Vapor Group”), today released a letter to shareholders from it’s . The electronic cigarette vendor Amanoo would like to set this as a model, in the coming month to providing customers with further updates and the progress that they are making.
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,
President and CEO
Vapor Group, Inc.