DANIA BEACH, Fla., Jan. 26, 2016
/PRNewswire/ -- Vapor Corp. (NASDAQ: VPCO) (the "Company"), a
leading U.S.-based distributor and retailer of vaporizers,
e-liquids, e-cigarettes and e-hookahs, today announced that it
received notice that the Nasdaq Listing Qualifications Staff had
determined that the continued listing of Vapor's common stock is no
longer in the public interest as that concept is described in
Nasdaq Listing Rule 5110. The Staff indicated that, given the
potential for dilution of Vapor's shareholders that may be caused
by the cashless exercise provision of Vapor's Series A warrants,
the Staff believes that the grace period provided to Vapor to
regain compliance with the $1.00 bid
price requirement is no longer warranted.
Vapor plans to request a hearing before the Nasdaq Listing
Qualifications Panel (the "Panel"), which will stay any action
arising from the Staff's determination at least pending the
issuance of a decision by the Panel subsequent to the hearing and
the ultimate conclusion of the hearing process. Vapor will address
the Staff's concerns and request the continued listing of its
common stock at the hearing before the Panel. There can be no
assurance, however, that the Panel will grant Vapor's request for
the continued listing of its common stock on Nasdaq.
About Vapor Corp.
Vapor Corp., a Nasdaq company, is a U.S. based distributor and
retailer of vaporizers, e-liquids and electronic cigarettes. It
recently acquired the retail store chain "The Vape Store" as part
of a merger with Vaporin, Inc. The Company's innovative technology
enables users to inhale nicotine vapor without smoke, tar, ash or
carbon monoxide. Vapor Corp. has a streamlined supply chain,
marketing strategies and wide distribution capabilities to deliver
its products. The Company's brands include VaporX®, Krave®, Hookah
Stix® and Vaporin™ and are distributed to retail stores throughout
the U.S. and Canada. The Company
sells direct to consumer via e-commerce and Company-owned
brick-and-mortar retail locations operating under "The Vape Store"
brand.
Safe Harbor Statement
Safe Harbor Statements under the Private Securities Litigation
Reform Act of 1995: The Material contained in this press release
may include statements that are not historical facts and are
considered "forward-looking" statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements reflect Vapor Corp.'s current views
about future events, financial performances, and project
development. These "forward-looking" statements are identified by
the use of terms and phrases such as "will," "believe," "expect,"
"plan," "anticipate," and similar expressions identifying
forward-looking statements. Investors should not rely on
forward-looking statements because they are subject to a variety of
risks, uncertainties, and other factors that could cause actual
results to differ materially from Vapor's expectations. These risk
factors include, but are not limited to, the risks and
uncertainties identified by Vapor Corp. under the headings "Risk
Factors" in its latest Annual Report on Form 10-K. These factors
are elaborated upon and other factors may be disclosed from time to
time in Vapor Corp.'s filings with the Securities and Exchange
Commission. Vapor Corp. expressly does not undertake any duty to
update forward-looking statements.
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SOURCE Vapor Corp.