|By Marketwired .||
|May 16, 2014 08:00 AM EDT||
MIAMI, FL -- (Marketwired) -- 05/16/14 -- Vaporin, Inc. (OTCQB: VAPO) (the "Company"), a distributor and marketer of electronic cigarettes, vaporizers, e-liquids and e-hookah products, today announced its financial results for the first quarter ended March 31, 2014. The Company commenced sales in February 2014 and achieved revenue of approximately $182,000 for the balance of the first quarter of 2014. Gross Profit margins were approximately 37%.
Scott Frohman, Chief Executive Officer of Vaporin, stated, "We are extremely pleased with the launch and acceptance of our e-cig, vaporizer and e-liquid products resulting in our first two revenue generating months during February and March 2014. We are focused on gaining market share and Vaporin is positioned to become a top selling brand in the rapidly expanding vaporizer and e-liquid industry through our multi-pronged distribution strategy. One of the key distribution tactics is through C-stores in densely populated geographies such as the New York Metropolitan area with the aid of well-known and established distributors. We are also successfully building our brand and sales through our online platforms and continuity club. Lastly, we are moving aggressively into in brick and mortar locations such as casinos, bars and nightclubs through our exclusive distribution agreement with Seaga, a global manufacturer of vending machines. As one of the first movers in the vaporizer and e-liquids arena, Vaporin is quickly becoming an impact player in this highly fragmented rapidly growing exciting new business."
Operational Highlights during the 2014 First Quarter to date:
- The Company launched sales in February 2014.
- Revenue generated during February and March of 2014 was attributable to the initiation of our distribution strategy (online, retail and vending machines sales and placement.) The Company anticipates generating revenue from its vending machines during the 2014 second quarter.
- Vaporin signed an exclusive distribution agreement with Seaga Manufacturing, Inc. for the marketing and sale of goods through a unique, innovative vending solution, the Vapestation.
- Secured exclusive supply agreement with ChromaDex®, an innovative natural products company that discovers, acquires, develops and commercializes proprietary-based ingredient technologies, for the development of NIAGEN and PURENERGY, novel ingredients with multiple energy and health benefits.
- James J. Martin has been appointed as Chief Financial Officer of the Company.
- Completion of merger, name change and trading under new stock symbol "VAPO".
About Vaporin, Inc.
Vaporin is a distributor and marketer of electronic cigarettes, vaporizers, e-liquids and e-hookah products. Vaporin's innovative technology offers the look, feel and taste of traditional cigarettes without any tar, tobacco, smoke and odor. As an alternative to traditional cigarettes, Vaporin is offering a variety of disposable and rechargeable starter kits and flavors. The unique Vaping Pens product line and Made-In-USA E-Liquids is what makes Vaporin one of the emerging brands in the market. Vaporin is not just an alternative to traditional smoking, but a lifestyle. For more information please visit, www.vaporin.com.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements including statements regarding our focus on gaining market share, becoming a top selling brand, building our brand through various platforms, becoming an impact player in its industry, and generating revenue from vending machines. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the effectiveness of our advertising campaign, consumer reaction to our advertising campaign, and new regulations which affect the distribution of our products. Further information on our risk factors is contained in our filings with the SEC, including the Form 10-K filed on March 27, 2014. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
Sep. 2, 2015 03:00 AM EDT Reads: 513
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
Sep. 2, 2015 02:30 AM EDT Reads: 438
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes ab...
Sep. 2, 2015 02:00 AM EDT Reads: 688
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
Sep. 2, 2015 01:45 AM EDT Reads: 479
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Sep. 1, 2015 11:45 PM EDT Reads: 394
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
Sep. 1, 2015 11:45 PM EDT Reads: 541
It’s been proven time and time again that in tech, diversity drives greater innovation, better team productivity and greater profits and market share. So what can we do in our DevOps teams to embrace diversity and help transform the culture of development and operations into a true “DevOps” team? In her session at DevOps Summit, Stefana Muller, Director, Product Management – Continuous Delivery at CA Technologies, answered that question citing examples, showing how to create opportunities for ...
Sep. 1, 2015 11:00 PM EDT Reads: 510
Any Ops team trying to support a company in today’s cloud-connected world knows that a new way of thinking is required – one just as dramatic than the shift from Ops to DevOps. The diversity of modern operations requires teams to focus their impact on breadth vs. depth. In his session at DevOps Summit, Adam Serediuk, Director of Operations at xMatters, Inc., will discuss the strategic requirements of evolving from Ops to DevOps, and why modern Operations has begun leveraging the “NoOps” approa...
Sep. 1, 2015 08:15 PM EDT Reads: 421
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...
Sep. 1, 2015 07:00 PM EDT Reads: 272
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
Sep. 1, 2015 04:30 PM EDT Reads: 391
Cloud and datacenter migration innovator AppZero has joined the Microsoft Enterprise Cloud Alliance Program. AppZero is a fast, flexible way to move Windows Server applications from any source machine – physical or virtual – to any destination server, in any cloud or datacenter, using its patented container technology. AppZero’s container is also called a Virtual Application Appliance (VAA). To facilitate Microsoft Azure onboarding, AppZero has two purpose-built offerings: AppZero SP for Azure,...
Sep. 1, 2015 04:00 PM EDT Reads: 215
WSM International, the pioneer and leader in server migration services, has announced an agreement with WHOA.com, a leader in providing secure public, private and hybrid cloud computing services. Under terms of the agreement, WSM will provide migration services to WHOA.com customers to relocate some or all of their applications, digital assets, and other computing workloads to WHOA.com enterprise-class, secure cloud infrastructure. The migration services include detailed evaluation and planning...
Sep. 1, 2015 04:00 PM EDT Reads: 198
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Sep. 1, 2015 03:00 PM EDT Reads: 444
In 2014, the market witnessed a massive migration to the cloud as enterprises finally overcame their fears of the cloud’s viability, security, etc. Over the past 18 months, AWS, Google and Microsoft have waged an ongoing battle through a wave of price cuts and new features. For IT executives, sorting through all the noise to make the best cloud investment decisions has become daunting. Enterprises can and are moving away from a "one size fits all" cloud approach. The new competitive field has ...
Sep. 1, 2015 02:45 PM EDT
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so the...
Sep. 1, 2015 02:45 PM EDT Reads: 169