VPR Brands, LP (VPRB)
Chart Events
Performance Outlook
| Previous Close | 0.0523 |
| Open | 0.0545 |
| Bid | 0.0000 x 0 |
| Ask | 0.0000 x 0 |
| Day's Range | 0.0502 - 0.0565 |
| 52 Week Range | 0.0070 - 0.2500 |
| Volume | 235,230 |
| Avg. Volume | 272,904 |
| Market Cap | 4.858M |
| Beta (5Y Monthly) | -0.62 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -0.0070 |
| Earnings Date | Jun 29, 2020 - Jun 30, 2020 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | N/A |
- GlobeNewswire
VPR Brands Announces Q1 2021 Financial Results; with increased revenue greater than 200% over Q1 2020
FORT LAUDERDALE, Fla., May 21, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- VPR Brands LP (OTC: VPRB), a market leading supplier and patent holder for electronic cigarettes or vaporizers for nicotine, cannabis and cannabidiol (CBD) and other related accessories such as lighters, recently announced its first quarter 2021 financial results, posting increased revenues and a narrowed net loss as compared to 2020. While increasing its quarterly revenues approximately 209% to $1.25 million, the Company also reduced its net loss from $421,590 in 2020 to $101,651 in 2021 and the company was also able to strengthen its gross operating margins to 43% in the 1st Quarter 2021 from 35% in Q1, 2020. "We are back in business,” said Kevin Frija, CEO of VPR Brands. “After a difficult year in 2020 due to circumstances beyond our control, we are grateful to be able to come back strong and continue where we left off in 2019 and we look forward to the rest of 2021 and beyond.” "Our company made great strides in regaining revenues to pre Covid-19 levels, and with marked increases to our direct to customer business and the addition of Dissim Lighters to our portfolio our profit margins have started to trend upwards,” said Dan Hoff, COO of VPR Brands. “As much of the country opens up and business continues to recover we eagerly await what lies ahead for the company. " Results of Operations for the Three Months Ended March 31, 2021 Compared to the Three Months Ended March 31, 2020 Revenues Our revenues for the three months ended March 31, 2021 and 2020 were $1,252,058 and $598,633, respectively. The increase was a result of an industry-wide health-related crisis that hampered sales significantly in 2020, as well as increased direct on-line sales in 2021. Cost of Sales Cost of sales for the three months ended March 31, 2021 and 2020 was $710,501 and $386,128, respectively. Gross margins increased to 43% in 2021 compared to 35% in 2020, due to pricing pressures from the decreased demand related to the industry crisis in 2020, and increased direct sales in 2021. Operating Expenses Operating expenses for the three months ended March 31, 2021 were $537,903 as compared to $476,824 for the three months ended March 31, 2020. The increase in expenses is primarily due to increased sales activity in 2021. Other Income (Expense) Interest expense decreased to $105,305 for the three months ended March 31, 2021 as compared to $157,271 for the three months ended March 31, 2020 due to less interest expense recognized on related party loans in 2021. Net Loss Net loss for the three months ended March 31, 2021 was $101,651 compared to a net loss of $421,590 for the three months ended March 31, 2020. Liquidity and Capital Resources The Company used cash in operating activities of $138,245 for three months ended March 31, 2021 as compared to $21,386 of cash used in three months ended March 31, 2020. Cash used in operations in 2021 related to the Company’s net loss of approximately $102,000, offset by an increase in accounts payable offset by an increase in vendor deposits. Cash used in operations in 2020 related to the Company’s net loss of approximately $422,000, offset by decreases in inventory and accounts receivable levels as well as increase in accounts payable. During the three months ended March 31, 2021, the Company received $180,000 from the issuance of notes payable to related parties, repaid $183,754 of principal on notes payable to related parties, repaid $42,251 of principal on notes payable, and received $190,057 of notes payable proceeds under the Paycheck Protection Program (“PPP”) and Economic Injury Disaster Loan (“EIDL”) program. Both the PPP and EIDL are financial programs under the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) signed into law by the U.S. President on March 27, 2020 to provide economic relief to small businesses adversely impacted by COVID-19. During the three months ended March 31, 2020, the Company received $290,000 of proceeds from the issuance of notes payable to related parties, repaid $185,622 of principal on notes payable to related parties, and repaid $101,141 of principal on notes payable. Assets At March 31, 2021 and December 31, 2020, we had total assets of $1,018,165 and $908,345, respectively. Assets primarily consist of the cash accounts held by the Company, inventory, vendor deposits, accounts receivable and a right-to-use asset. In 2021, the Company’s vendor deposits increased by $117,078 and inventory was decreased by approximately $51,000 as a result of increased demand from direct customers. Liabilities At March 31, 2021 and December 31, 2020, we had total liabilities of $3,361,785 and $3,150,314, respectively. The increase was primarily due to the issuance of a PPP Loan in the amount of $190,057 in 2021. For the Rest of the information filed: https://www.sec.gov/Archives/edgar/data/0001376231/000089109221004547/e13142-10q.htm. About VPR Brands, LP: VPR Brands is a technology 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 as well as lighters. The company is also engaged in product development for the vapor or vaping market, including e-liquids, vaporizers and electronic cigarettes (also known as e-cigarettes) which are devices which deliver nicotine and or cannabis through atomization or vaping, and without smoke and other chemical constituents typically found in traditional products. For more information about VPR Brands, please visit the company on the web at www.vprbrands.com. Forward-looking statements: 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. Corporate Communications: kevin.frija@vprbrands Wire Service Contact InvestorWire (IW) Los Angeles, California www.InvestorWire.com 212.418.1217 Office Editor@InvestorWire.com
- GlobeNewswire
VPR Brands Has Recently Filed Three New Lawsuits to Enforce Its Intellectual Property Patent Rights
FORT LAUDERDALE, Fla., May 06, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – VPR Brands, LP (OTC: VPRB): VPR Brands is a market leader and pioneer in electronic cigarettes and vaporizers for nicotine, cannabis and cannabidiol (CBD). The company owns Intellectual Property which is one of the original Patents filed for electronic cigarette technology. This Patent dates to 2009 and includes independent claims covering electronic cigarette products containing an electric airflow sensor, including a sensor comprised of a diaphragm microphone. The sensor turns the battery on and off, and covers auto-draw, buttonless e-cigarettes, cigalikes, pod devices and vaporizers using an airflow sensor. The technology is covered under electronic cigarette utility patent US 8205622. In recent years, the vaping industry has matured in size and continues to grow. The company believes that its patent puts them in a unique position to capitalize on the recent surge in e-cigarette/vape usage that resulted in what some analysts estimate to be a $6 billion e-cigarette market, this not including all devices sold for cannabis and CBD. A majority of the nicotine vaping devices sold in the U.S. now utilize an auto-draw/button-less technology. The company is investigating all buttonless vape devices within the nicotine, CBD, and cannabis space that initiate and regulate vaporization from the user’s airflow inhalation as they would be suspect of infringement. “Just this week we have filed three additional lawsuits which brings the total to nine with many more expected and likely as almost every company in the vape space has at least one product which uses the patented Auto-Draw technology,” said Kevin Frija, CEO of VPR Brands. “We will be aggressively pursuing every company infringing on our patent. We want to make sure VPR Brands Patent which is valid until 2030 is enforced and our Intellectual property rights are protected. We intend to send a clear message to the industry that we mean business.” VPR Brands along with SRIPLAW has started to identify and notify over 50 of the leading companies. These companies were prioritized, based on sales volume and popularity. Most recently VPR Brands LP and its legal team, headed by Joel B Rothman of SRIPLAW, have filed litigation against three more of the companies just this past week. VPR Brands, LP v. Myle Vape Inc and MVH I Inc in New YorkVPR Brands, LP v. HqdTech USA llc in FloridaVPR Brands, LP v. PHD Marketing Inc in California These are in addition to six previous suits filed. VPR Brands, LP v. Monq, LLC in Tennessee VPR Brands, LP v. B&G Trading LLC D/B/A Vapor Tech in Arizona VPR Brands, LP v. Lightfire Holdings LLC in Florida VPR Brands, LP v. Jupiter Research, LLC in ArizonaVPR Brands, LP v. Cool Clouds Distribution, Inc. in CaliforniaVPR Brands, LP v. XL Vape in California “The surge of the vaping category for nicotine, cannabis and CBD in the last few years has reached billions of dollars in sales. That has created opportunities for our patented Auto-Draw technology, which we believe is now preferred by many, if not most consumers,” said Kevin Frija, CEO of VPR Brands. “Infringement can be avoided by simply adding a button to the battery however the preferred option by consumers to simulate smoking is our buttonless auto draw technology and we believe this is an opportune time to consider licensing, enforcement or potentially a sale of our intellectual property to one of the larger players in the space. Our Patent could be a huge windfall for the company.” "Buttonless batteries both for the E-liquid and the CBD space have grown immensely in popularity over the past few years making it the preferred technology used for vaping. Several prominent companies are utilizing and marketing this form of vaporizer without any regard for our Intellectual property. I am happy to see our company and legal team actively litigating to enforce our intellectual property,” said Dan Hoff, COO of VPR Brands, LP About VPR Brands, LP: VPR Brands is a technology 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, vaporizers and electronic cigarettes (also known as e-cigarettes) which are devices which deliver nicotine and or cannabis through atomization or vaping, and without smoke and other chemical constituents typically found in traditional products. For more information about VPR Brands, please visit the company on the web at www.vprbrands.com. Forward-looking statements: 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. Corporate Communications: kevin.frija@vprbrands Wire Service Contact InvestorWire (IW) Los Angeles, California www.InvestorWire.com 212.418.1217 Office Editor@InvestorWire.com
- GlobeNewswire
VPR Brands Receives Issue Notification on US Utility Patent # 10,948,187 Titled: Inverting Pocket Lighters
FORT LAUDERDALE, Fla., March 17, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – VPR Brands, LP (OTC: VPRB): VPR Brands is a market leader and pioneer in electronic cigarettes and vaporizers for nicotine, cannabis and cannabidiol (CBD) and other accessories such as Lighters. The company owns Intellectual Property which is one of the original Patents filed for electronic cigarette technology, and has recently received a utility Patent for its new Inverted Lighter. “I believe what makes an iconic lighter is being able to tell what brand it is from 10 feet away, our Dissim is one of those. In this case the aesthetic design is not only appealing but also aids in functionality. Having this Utility Patent issued provides us great protection on popularizing and capitalizing on this revolutionary lighter design and building something that every 'lighter person' must have,” said Dan Hoff COO of VPR Brands, LP. “Going from Patent Pending status to finally being issued a Patent Number is a huge milestone for the Dissim Brand and our company and paves a much clearer path for our future lighter business and will make sure our Patent Rights are well known to the Industry. We are focused on not only acquiring Intellectual Property but more importantly protecting it and our business in the US and abroad. Having this Patent allows us to build our business model based on this amazing proprietary design,” said Kevin Frija CEO of VPR Brands, LP. Research show that the Pocket Lighter business is a multibillion dollar business globally and Metal Lighters are a rapidly growing segment. There are few top Brands in the Premium and Ultra-Premium space and Dissim has been welcomed with open arms by the Traditional Tobacco Resellers Internationally and domestically. Outside of Tobacco you have the adjacent markets of, Cannabis as well as Every Day Carry which show increasing demands for premium products. We have seen exponential growth for this new design which serves as much utility as it does beauty. Top of Form Bottom of FormUS 10,948,187 B2Top of Form Bottom of FormINVERTING POCKET LIGHTERSKegan McDaniel, Milwaukee, WI (US)Assigned to VPR Brands, LP, FT Lauderdale, FL (US)Filed by Kegan McDaniel, Milwaukee, WI (US)Filed on Nov. 20, 2018, as Appl. No. 16/196,510.Claims priority of provisional application 62/589,350, filed on Nov. 21, 2017.Prior Publication US 2019/0154258 A1, May 23, 2019Int. Cl. F23Q 2/06 (2006.01); F23Q 2/36 (2006.01)CPC F23Q 2/36 (2013.01) [F23Q 2/06 (2013.01)] 20 Claims 1. A pocket lighter comprising: a body including: a first side wall; a second side wall opposite the first side wall; a first end wall extending between the first side wall and the second side wall; a second end wall opposite the first end wall and extending between the first side wall and the second side wall; and a bottom end wall extending between the first side wall, the second side wall, the first end wall, and the second end wall, the bottom end wall being curved at a constant radius of curvature between the first end wall and the second end wall, the body including an opening extending through the body between the first side wall and the second side wall, the opening dimensioned to receive a finger of a person, the opening defined by a convex surface having a continuous curvature between the first side wall and the second side wall; and a lighter assembly disposed at least partially in the body, the lighter assembly including a nozzle and a button to open the nozzle when activated. About VPR Brands, LP: VPR Brands is a technology 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 as well as lighters. The company is also engaged in product development for the vapor or vaping market, including e-liquids, vaporizers and electronic cigarettes (also known as e-cigarettes) which are devices which deliver nicotine and or cannabis through atomization or vaping, and without smoke and other chemical constituents typically found in traditional products. For more information about VPR Brands, please visit the company on the web at www.vprbrands.com. Forward-looking statements: 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. Corporate Communications: kevin.frija@vprbrands Wire Service Contact InvestorWire (IW) Los Angeles, California www.InvestorWire.com 212.418.1217 Office Editor@InvestorWire.com
