News Feed Item
Vape Holdings Reports Record Quarterly Results
Multi-Channel Distribution Strategy Setting Up Growth Positioned For Rapid Worldwide Expansion Opportunities
|By PR Newswire
|August 20, 2014 08:33 AM EDT
WOODLAND HILLS, Calif., Aug. 20, 2014 /PRNewswire/ -- Vape Holdings, Inc. (OTCQB: VAPE) (the "Company"), a holding company focused on providing healthy, efficient, and sustainable vaporization products, is pleased to announce the filing of its 10Q quarterly report and record quarterly results for its fiscal third quarter ended June 30, 2014. The full 10Q filing is available in its entirety on the SEC's website at http://edgar.sec.gov.
For its fiscal third quarter of 2014 Vape generated record revenues of $361,781 which represents the Company's first revenue-generating fiscal quarter, despite its full product line not shipping to customers until mid-May. Since commencement of revenue-generating operations less than 100 days ago, the Company has recorded revenues of $392,540.
"We are extremely pleased with the Q3 2014 financial results that represent our first big push to market since our products began shipping full scale in mid-May," stated Vape CEO and Chairman Kyle Tracey. "Since the acquisition and launch of the HIVE Ceramics proprietary product line on March 27th, we have worked diligently to establish an infrastructure of authorized dealers and distribution partners around the world. We've been fortunate to leverage our industry experience and contacts and the resulting revenues represent a strong first step in capitalizing on those relationships."
Since the close of Q3 2014 on June 30th, the Company has announced the full-scale launch of its e-commerce site at www.HiveCeramics.com, an authorized dealer network of over 1,100 shops nationwide and its worldwide distribution reach with relationships established with noted industry distributors GotVape.com (USA), West Coast Gifts (Canada), Puff Pipes (Canada), DNA Genetics (Europe) and DNA Genetics' new South American distributor Pure DNA.
"We believe our work during Q3 2014 establishing our multi-faceted distribution strategy for HIVE will provide long-term value to our shareholders as we continue to expand the reach of our distribution network and product line to send high quality products to consumers around the globe," said Mr. Tracey.
As the Company's Q3, 2014 results indicate, Vape has incurred a net loss of $31,163,951 for the nine months ended June 30th due primarily to a substantial loss on the settlement of warrants in the amount of $29,528,844. The net loss due to settlement of the warrants was triggered by full ratchet anti-dilution adjustments in the warrants from a May 2011 financial raise by former management of the Company when it was known as PeopleString Corporation. Much of the settlement liability was recorded during Q2 2014. As of the filing of the Q3 2014 quarterly report there are an additional 1,250,131 warrants that remain outstanding out of a possible 8,400,000.
"The Company has worked promptly to resolve its warrant liability and has decreased its outstanding warrants to a fraction of what they were," stated Mr. Tracey. "We are confident we have taken the proper steps to put these issues behind us allowing Vape to focus on the growth and expansion of HIVE and its future operations."
About Vape Holdings, Inc.
Vape Holdings, Inc. focuses on designing, marketing, and distributing various vaporization products. The company offers medical and food grade ceramic products primarily under the HIVE Ceramics brand throughout North America, Europe and South America. HIVE offers a nonporous, non-corrosive, chemically inert ceramic vaporization element, which can be used for a range of applications, including stand-alone vaporization products and electronic cigarettes. The company is based in Woodland Hills, California.
For more information on HIVE Ceramics and to visit our e-commerce site, please visit: http://www.hiveceramics.com
From time to time, Vape Holdings will provide market updates and news via its website http://www.vapeholdings.com/ or the Company's Facebook page at http://on.fb.me/1d5c7iO
Cautionary Language Concerning Forward-Looking Statements
This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for Vape Holdings' products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in Vape Holdings' filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting Vape Holdings please refer to the Company's Securities and Exchange Commission filings, which are available at www.sec.gov. Vape Holdings undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Vape Holdings, Inc.
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently.
In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
May. 30, 2016 03:00 AM EDT Reads: 1,379
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives.
Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
May. 30, 2016 03:00 AM EDT Reads: 2,080
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY.
MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
For more information, please visit https://www.mangoapps.com/.
May. 30, 2016 02:45 AM EDT Reads: 1,052
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
May. 30, 2016 02:45 AM EDT Reads: 2,507
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
May. 30, 2016 02:30 AM EDT Reads: 1,378
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY.
Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
May. 30, 2016 02:15 AM EDT Reads: 2,985
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
May. 30, 2016 02:00 AM EDT Reads: 1,465
SYS-CON Events announced today Object Management Group® has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
May. 30, 2016 01:00 AM EDT Reads: 2,676
In the rush to compete in the digital age, a successful digital transformation is essential, but many organizations are setting themselves up for failure. There’s a common misconception that the process is just about technology, but it’s not. It’s about your business. It shouldn’t be treated as an isolated IT project; it should be driven by business needs with the committed involvement of a range of stakeholders.
May. 30, 2016 12:00 AM EDT Reads: 2,690
SYS-CON Events announced today that EastBanc Technologies will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY.
EastBanc Technologies has been working at the frontier of technology since 1999. Today, the firm provides full-lifecycle software development delivering flexible technology solutions that seamlessly integrate with existing systems – whether on premise or cloud. EastBanc Technologies partners with p...
May. 29, 2016 10:00 PM EDT Reads: 2,406
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY.
AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
May. 29, 2016 08:00 PM EDT Reads: 2,628
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market?
In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, will explore the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences betwee...
May. 29, 2016 06:00 PM EDT Reads: 1,751
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York.
“CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
May. 29, 2016 04:45 PM EDT Reads: 1,329
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector.
In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, will discuss the importance of WebRTC and how it enables companies to fo...
May. 29, 2016 04:15 PM EDT Reads: 2,605
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things!
Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
May. 29, 2016 04:00 PM EDT Reads: 2,063