VPR Brands (OTC PINK: VPRB) ran up 158% yesterday after VPRB announced Q1 earnings results.
Yesterday’s volume was over 500,000 which is 8 times VPRB’s average volume, and the stock ran up from an opening price of $0.155 to a high of $0.40.
The stock eventually closed at $0.299, a 93% increase over the previous day’s close.
It appears investors are excited about VPRB’s results from its shift to focusing primarily on its HONEYSTICK brand.
VPRB’s stock has been on a downward trend since the end of April, and this recent activity shows a major shift in investor sentiment as more buyers have been coming in the past few days helping to push the stock price up.
On May 24th, VPRB announced Q117 earnings results and here are the highlights:
Revenue for first quarter 2017 totaled $786,535 with a gross profit of $275,014 and a gross margin of 34.96%. In comparison, the first quarter 2016 revenue and gross profit was $-0- and $-0-, respectively.
Cost of sales for the quarter ended March 31, 2017 and 2016 was $511,521 and $-0-, respectively
Operating expenses for the quarter ended March 31, 2017 were $598,556 as compared to $61,005 for the quarter ended March 31, 2016.
Net loss for the quarter ended March 31, 2017 was $(292,294) as compared to a net loss of $(61,005) for the quarter ended March 31, 2016
The changes in these results from the previous year are primarily due to the asset acquisition from Vapor Corp. of its wholesale business and other assets.
VPR Brands LP. (OTC PINK: VPRB) 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.
VPRB 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 that deliver nicotine and/or cannabis through atomization or vaping without smoke and other chemical constituents typically found in traditional products
Their brands include:
Recent Company Milestones
VPRB has been focused on increasing its online and offline retail presence as well as getting more exposure for its various lines of vaporizers:
- May 2017 – Announces HONEYSTICK brand is sponsoring the Marijuana Conference and Expo (see news release)
- May 2017 – Showcases its award-winning HONEYSTICK brand at CHAMPS East (see news release)
- May 2017 – Announces HONEYSTICK line of vaporizers will now be sold through DirectVapor (see news release)
- May 2017 – Announces HONEYSTICK line is now available through VaporNation.com (see news release)
- April 2017 – Announces HONEYSTICK and Gold Nugget Extracts place 1st, 2nd, and 3rd at the High Times Cannabis Cup (see news release)
VPRB is led by a management team with experience in product development, manufacturing, and wholesale operations.
Chief Executive Officer, Chief Financial Officer, Chairman of the Board
Mr. Kevin Frija has been the Chairman of The Board, Chief Executive Officer, Chief Financial Officer and President of VPR Brands, LP since June 5, 2015. He has over 25 years of experience in sourcing, manufacturing, supply chain management, marketing and brand licensing across a wide spectrum of industries.
Chief Operating Officer
Mr. Daniel Hoff, also known as Dan, has been the Chief Operating Officer of VPR Brands, L.P since January 3, 2017. Mr. Hoff served as a Consultant to VPR Brands, L.P. since August 2016 and serving as its Head of Wholesale Operations and Director of Alternative Products. From 2014 to July 2016, he served as Key Accounts Executive & Head of Alternative Products, building Vapor Corp.’s alternative products division and leading wholesale operations and key account management.
VPRB appears to be executing on its plan to bring quality vaporizer and vaporizer-related products to market.
If they can continue to build on the results they reported last quarter, the company should continue to attract more investor interest.
Disclosure: We have no position in VPRB and have not been compensated for this article.