trader_ron
1 month ago
$VPRB EQS-News: VPR Brands (VPRB) Reports First Quarter 2024 Financial Results
Key Financial Highlights for Q1 2024:
Total Revenues: $1,518,759, compared to $3,081,021 in Q1 2023
Gross Profit: $476,856, compared to $523,673 in Q1 2023
Net Income: $203,059, up from $25,314 in Q1 2023
Operating Expenses: $646,866, compared to $404,665 in Q1 2023
Net Cash Provided by Operating Activities: $23,444, compared to net cash used of $281,528 in Q1 2023
Total Assets: $3,103,269, compared to $3,191,246 as of December 31, 2023
Total Liabilities: $2,285,900, down from $2,576,936 as of December 31, 2023
https://www.otcmarkets.com/stock/VPRB/news/EQS-News-VPR-Brands-VPRB-Reports-First-Quarter-2024-Financial-Results?id=441001
trader_ron
2 months ago
EQS-News: VPR Brands LP Reports Record Annual Financial Performance for Fiscal Year 2023
Press Release | 04/19/2024
EQS-News: VPR Brands, LP / Key word(s): Consumer
VPR Brands LP Reports Record Annual Financial Performance for Fiscal Year 2023
19.04.2024 / 14:13 CET/CEST
The issuer is solely responsible for the content of this announcement.
The Company Concluded the Year With Revenue Doubling, Alongside Substantial Improvements in Gross Profit Margins and Net Income
FORT LAUDERDALE, FL- 662187e3da846f373aeacd73.gif(NewMediaWire) - April 19, 2024 -VPR Brands LP (OTCQB: VPRB), a leader in the innovation and monetization of intellectual properties within the electronic cigarette and vaporizer sector, today announced its financial results for the fiscal year ended December 31, 2023. Demonstrating significant growth and enhanced operational efficiency, the company concluded the year with revenue doubling, alongside substantial improvements in gross profit margins and net income.
Annual Financial Highlights:
Revenues: Increased significantly to $9,853,825, up from $4,927,616 in 2022. The growth is attributed to increased customer sales and the introduction of new royalty revenue streams.
Net Income: Reported a net income of $3,812,605, reversing a net loss of $203,697 in 2022, showcasing the company's effective strategies and operational execution.
Cost of Sales: Rose to $4,972,497, reflecting the increased sales volume, with gross margins impressively expanding to 50.3% in 2023 from 33% in 2022, driven by higher-margin direct-to-consumer online sales and higher wholesale margins.
Operating Expenses: Increased to $2,210,072 as compared to $1,828,195 in 2022 due to enhanced advertising activities and additional advertising to support the expanded sales and revenue base.
Cash Flow from Operations: Improved to a positive $3,481,356 in 2023 from a negative $312,423 in 2022, indicating robust operational health and enhanced cash management.
Liquidity and Capital Resources:
Total Assets: Grew to $3,191,246 from $1,632,528 in 2022, bolstered by increased Cash, Inventory, and Accounts Receivable from the growth in sales.
Total Liabilities: Decreased to $2,576,936 from $3,951,020 in 2022, significantly reducing the company's debt profile and enhancing financial stability.
Other Financial Updates:
Other Income: Other income netted $1,141,350 in 2023, mainly from a litigation settlement which contributed $2,400,172.
Financing Activities: Net cash used in financing activities was $1,706,517 in 2023, a pivot from net cash provided of $332,254 in 2022, reflecting a strategic reduction in debt levels.
Executive Comments:
Kevin Frija, CEO of VPR Brands LP, stated, "2023 was a pivotal year for VPR Brands. We've successfully optimized our patent and trademark portfolio and expanded our market presence, resulting in historic revenue levels and profitability. Our strategic focus on Intellectual Property Monetization, including licensing has positioned us strongly within the competitive landscape."
Dan Hoff, COO, added, "Our operational achievements this year reflect our commitment to excellence and innovation. With new products in the pipeline and an expanding rapidly into new segments through licensing, we are poised for continued growth, diversification and are focused on delivering sustainable value to our shareholders."
About VPR Brands LP:
VPR Brands is a technology company and an IP holding company engaged in various monetization strategies of its U.S. patents covering electronic cigarette, vaporizer technologies, and related accessories. The company designs, develops, markets, and distributes products oriented towards the cannabis markets, including the ELF and HONEYSTICK brand of vaporizers and DISSIM Lighters. VPR Brands is actively enforcing its patents and exploring and monetizing licensing opportunities.
For more information about VPR Brands, please visit www.vprbrands.com
Potfolio
2 years ago
Recent Lawsuits -Updated Jan 11
After the 2nd disclosed settlement, I thought I'd update the lawsuits I see and recent activity. The biggest ones are the first 2 and both very much in play, and likely feeling the heat as smaller players have settled.
VPR Brands LP v. Jupiter Research LLC ***The largest player***
- Jupiter has requested a stay pending inter parties review
- VPRB to respond this week- interesting to see the strategy play out here
- Jupiter does $200M+ in vaporizers... meanwhile they have settled other cases with 2 companies doing a combined $1.5-2M annually (based on what I could find on the internet) for $400K. This case is the most important.
VPR Brands, LP v. Cool Clouds Distribution, Inc.
- Last Activity Oct 13, 2021
- Entered protective order - moving towards trial beginning May 2022
- Trial is now scheduled for Dec 2022 with discovery coming before that
VPR Brands, LP v. XL Vape, LLC
- Last Activity July 27
- Lawsuit ended without prejudice, unknown settlement
VPR Brands, LP v. BAE Worldwide LLC
- Last activity: Nov 29, 2021
- Nov 15 - "Parties discussed settlement but have not reached agreement"
- Requested motion for judgement of pleadings and VPR has until 12/8 to respond.
-Jan- Case was agreed by both parties to be dismissed - unsure of settlement at this time.
VPR Brands, LP v. PHD Marketing Inc. (settled with below)
VPR Brands, LP v. HQDTECH USA LLC
- Notice of settlement Nov 12, just hit news today.
- NEPA 2/Wholesale
VPR Brands, LP v. Myle Vape Inc. et al
- Schedule order coming up on 2/11...trial likely later in 2022 unless settlement comes sooner.
VPR Brands, LP v. MONQ, LLC
- Jury Trial Q1-2023 but parties remain open to negotiations
- Jan they requested motion for inter party review, VPRB to respond by Jan 18
VPR Brands LP v. B&G Trading LLC
- Last activity Oct 12, 2021
- VPR Stipulation to dismiss without prejudice on Oct 8
- Settlement unknown
Potfolio
3 years ago
Recent Lawsuits
With the recent news of a settlement I thought I'd share recent activity for some of the on-going lawsuits. I have no legal background and doing my best to interpret. The win today is a good step in the right direction.
PR: https://www.globenewswire.com/news-release/2021/05/06/2224375/0/en/VPR-Brands-Has-Recently-Filed-Three-New-Lawsuits-to-Enforce-Its-Intellectual-Property-Patent-Rights.html
VPR Brands LP v. Jupiter Research LLC
- Jupiter submitted claim construction and appears parties are in agreement ahead of trial in 2022
VPR Brands, LP v. Cool Clouds Distribution, Inc.
- Last Activity Oct 13, 2021
- Entered protective order - moving towards trial beginning May 2022
VPR Brands, LP v. XL Vape, LLC
- Last Activity July 27
- Lawsuit ended without prejudice
VPR Brands, LP v. BAE Worldwide LLC
- Last activity: Nov 29, 2021
- Nov 15 - "Parties discussed settlement but have not reached agreement"
- Requested motion for judgement of pleadings and VPR has until 12/8 to respond.
VPR Brands, LP v. PHD Marketing Inc.
VPR Brands, LP v. HQDTECH USA LLC
- Notice of settlement Nov 12, just hit news today.
- NEPA 2/Wholesale
VPR Brands, LP v. Myle Vape Inc. et al
- Basically have until 12/30 to respond to court
VPR Brands, LP v. MONQ, LLC
- Jury Trial Q1-2023 but parties remain open to negotiations
VPR Brands LP v. B&G Trading LLC
- Last activity Oct 12, 2021
- VPR Stipulation to dismiss without prejudice on Oct 8
makinezmoney
3 years ago
$VPRB: NEWS out........ Q3-YoY Sales up 66%
VPR Brands LP Announces Increase in Sales Revenue up 66% Year over Year in Third Quarter
FORT LAUDERDALE, Fla., Nov. 16, 2021 /PRNewswire/ -- 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 smoking accessories such as pocket lighters has reported quarterly and year to date sales and earnings for the period ending September 30th 2021.
"Our sales momentum continues to build and is solid, we are on track to have our best year ever in 2021" Says Kevin Frija CEO of VPR Brands LP " We are excited to see how this year ends."
Gross Revenue up 66% in Q 3 of $1,651,215 in 2021 from $993,509 in 2020
Company's Net loss for Q 3 $48,415 in 2021 cut in half from $102,652 in 2020
Net Profit of $114,721 year to date in 2021 from a Net loss of $574,596 in 2020
Results of Operations for the Three Months Ended September 30, 2021 Compared to the Three Months Ended September 30, 2020.
Revenues
Our revenues for the three months ended September 30, 2021 and 2020 were $1,651,215 and $993,509, respectively. The increase was a result of an industry-wide health-related crisis that hampered sales significantly in 2020.
Cost of Sales
Cost of sales for the three months ended September 30, 2021 and 2020 was $1,114,202 and $562,057, respectively. Gross margins decreased to 33% in 2021 compared to 43% in 2020 due to an increase in wholesale and private label sales in 2021 compared to the same period in 2020 offset by increases in both raw materials and shipping costs as compared to the same period in 2020.
Operating Expenses
Operating expenses for the three months ended September 30, 2021 were $489,061 as compared to $393,196 for the three months ended September 30, 2020. The increase in expenses is primarily due to increased sales activity in 2021.
Other ExpenseInterest expense decreased to $96,366 for the three months ended September 30, 2021 as compared to $140,908 for the three months ended September 30, 2020 due to less interest expense recognized on related party loans in 2021. During 2020, there were more active loans accruing interest than in 2020.
Net Loss
Net loss for the three months ended September 30, 2021 was $48,414 compared to a net loss of $102,652 for the three months ended September 30, 2020.
Results of Operations for the Nine Months Ended September 30, 2021 Compared to the Nine Months Ended September 30, 2020 Revenues Our revenues for the nine months ended September 30, 2021 and 2020 were $4,612,992 and $2,797,512, respectively. The increase was a result of an industry-wide health-related crisis that hampered sales significantly in 2020,. Cost of Sales Cost of sales for the nine months ended September 30, 2021 and 2020 was $2,740,518 and $1,699,876, respectively. Gross margins increased to 41% in 2021 compared to 39% in 2020, due to pricing pressures from the decreased demand related to the industry crisis in 2020.
Operating Expenses
Operating expenses for the nine months ended September 30, 2021 were $1,484,858 as compared to $1,242,671 for the nine months ended September 30, 2020. The increase in expenses is primarily due to increased sales activity in 2021.
Other Expense
Interest expense decreased to $272,894 for the nine months ended September 30, 2021 as compared to $429,561 for the nine months ended September 30, 2020 due to more active loans in 2020.
Net Loss
Net income for the nine months ended September 30, 2021 was $114,721 compared to a net loss of $574,596 for the nine months ended September 30, 2020You can read the entire Form 10-Q here: VPR Brands, LP. (Form: 10-Q, Received: 11/15/2021 17:28:54) (otcmarkets.com)
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.
Contact Information:
VPR Brands LP
Kevin Frija CEO
+1 (954) 715-7001
Info@VPRBrands.com
jayd89
3 years ago
A little background on Kevin the ceo
Mr. Kevin Frija is Chairman of the Board, Chief Executive Officer of the Company. Prior to Joining the Company and from June 2009, through March 2014, Mr. Frija served as chief executive officer and chairman of the board of directors, of Vapor Corporationration and from June 2009, through February 2013, Mr. Frija also served as president of Vapor Corporationration a company Mr. Frija grew from 1million in sales to 25million and oversaw the up listing from the pink sheets to the NASDAQ. He has over 25 years of experience, particularly in the areas of sourcing, manufacturing, supply chain management, marketing, advertising, and licensing. Prior to Mr. Frijas involvement in Vapor Corporationration, he operated In Gear fashions, Inc., a swim and resort wear company based in Miami, Florida
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