Vapor Corp (OTCMKTS:VPCO) posted record third quarter revenue of $608,354, which shows a jump of 889% over 2Q2016 revenues. This considerable jump in revenues can be attributed to company’s acquisition of the wholesale segment brands and business of Vapor. The acquisition enabled them to post revenues for two months in 3Q2016.
The highlights
Vapor Corp posted a net loss of $121,583 in the reported quarter, primarily linked to transition and implementation costs and accounting and legal expenses that are one time and directly associated to the acquisition.
Kevin Frija, the CEO of Vapor Brands, said that he is extremely delighted with the successful consolidation and integration of business activities so far. They have functioned diligently and have steadied sales, which were in decline QoQ, and also month over month, before acquisition.
The team has identified and assessed the core strengths and weaknesses of businesses and will focus on using the strengths. They have even commenced establishing businesses by leveraging the experience of their staff, advancing great products, and further aligning with major customers to extend their outreach.
Although the sales are not separated by product or brand segment, the primary revenue source is vaporization devices specially created for utilization with recreational marijuana and medical cannabis. These devices are particularly advanced for application with concentrates and extract oils which are vaped, offering the best experience and optimal results for recreational users and patients.
Vaporizers are discrete and convenient compared to traditional cannabis application methods. These segments are compact, concealable and easy to carry. Modern cannabis vaporizers don’t emit lingering and distinct odors that are linked with traditional marijuana application. They consider that portable vaporizers as the rapidly advancing delivery mechanism for marijuana. The team is presently working with other market pioneers within cannabis extraction and growth to revolutionize and further educate the market on its benefits.
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Vapor shares price ended last trading session with no change at $0.00010. Stock traded with the total exchanged volume of 694.30 million. The average volume stands close to 25.17 million.
