|By Marketwired .||
|May 16, 2014 08:00 AM EDT||
MIAMI, FL -- (Marketwired) -- 05/16/14 -- Vaporin, Inc. (OTCQB: VAPO) (the "Company"), a distributor and marketer of electronic cigarettes, vaporizers, e-liquids and e-hookah products, today announced its financial results for the first quarter ended March 31, 2014. The Company commenced sales in February 2014 and achieved revenue of approximately $182,000 for the balance of the first quarter of 2014. Gross Profit margins were approximately 37%.
Scott Frohman, Chief Executive Officer of Vaporin, stated, "We are extremely pleased with the launch and acceptance of our e-cig, vaporizer and e-liquid products resulting in our first two revenue generating months during February and March 2014. We are focused on gaining market share and Vaporin is positioned to become a top selling brand in the rapidly expanding vaporizer and e-liquid industry through our multi-pronged distribution strategy. One of the key distribution tactics is through C-stores in densely populated geographies such as the New York Metropolitan area with the aid of well-known and established distributors. We are also successfully building our brand and sales through our online platforms and continuity club. Lastly, we are moving aggressively into in brick and mortar locations such as casinos, bars and nightclubs through our exclusive distribution agreement with Seaga, a global manufacturer of vending machines. As one of the first movers in the vaporizer and e-liquids arena, Vaporin is quickly becoming an impact player in this highly fragmented rapidly growing exciting new business."
Operational Highlights during the 2014 First Quarter to date:
- The Company launched sales in February 2014.
- Revenue generated during February and March of 2014 was attributable to the initiation of our distribution strategy (online, retail and vending machines sales and placement.) The Company anticipates generating revenue from its vending machines during the 2014 second quarter.
- Vaporin signed an exclusive distribution agreement with Seaga Manufacturing, Inc. for the marketing and sale of goods through a unique, innovative vending solution, the Vapestation.
- Secured exclusive supply agreement with ChromaDex®, an innovative natural products company that discovers, acquires, develops and commercializes proprietary-based ingredient technologies, for the development of NIAGEN and PURENERGY, novel ingredients with multiple energy and health benefits.
- James J. Martin has been appointed as Chief Financial Officer of the Company.
- Completion of merger, name change and trading under new stock symbol "VAPO".
About Vaporin, Inc.
Vaporin is a distributor and marketer of electronic cigarettes, vaporizers, e-liquids and e-hookah products. Vaporin's innovative technology offers the look, feel and taste of traditional cigarettes without any tar, tobacco, smoke and odor. As an alternative to traditional cigarettes, Vaporin is offering a variety of disposable and rechargeable starter kits and flavors. The unique Vaping Pens product line and Made-In-USA E-Liquids is what makes Vaporin one of the emerging brands in the market. Vaporin is not just an alternative to traditional smoking, but a lifestyle. For more information please visit, www.vaporin.com.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements including statements regarding our focus on gaining market share, becoming a top selling brand, building our brand through various platforms, becoming an impact player in its industry, and generating revenue from vending machines. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the effectiveness of our advertising campaign, consumer reaction to our advertising campaign, and new regulations which affect the distribution of our products. Further information on our risk factors is contained in our filings with the SEC, including the Form 10-K filed on March 27, 2014. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
May. 6, 2015 05:00 AM EDT Reads: 3,279
SYS-CON Events announced today that Site24x7, the cloud infrastructure monitoring service, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Site24x7 is a cloud infrastructure monitoring service that helps monitor the uptime and performance of websites, online applications, servers, mobile websites and custom APIs. The monitoring is done from 50+ locations across the world and from various wireless carr...
May. 6, 2015 05:00 AM EDT Reads: 2,547
SYS-CON Events announced today that WSM International (WSM), the world’s leading cloud and server migration services provider, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. WSM is a solutions integrator with a core focus on cloud and server migration, transformation and DevOps services.
May. 6, 2015 04:45 AM EDT Reads: 2,476
The Workspace-as-a-Service (WaaS) market will grow to $6.4B by 2018. In his session at 16th Cloud Expo, Seth Bostock, CEO of IndependenceIT, will begin by walking the audience through the evolution of Workspace as-a-Service, where it is now vs. where it going. To look beyond the desktop we must understand exactly what WaaS is, who the users are, and where it is going in the future. IT departments, ISVs and service providers must look to workflow and automation capabilities to adapt to growing ...
May. 6, 2015 04:30 AM EDT Reads: 2,061
The speed of product development has increased massively in the past 10 years. At the same time our formal secure development and SDL methodologies have fallen behind. This forces product developers to choose between rapid release times and security. In his session at DevOps Summit, Michael Murray, Director of Cyber Security Consulting and Assessment at GE Healthcare, examined the problems and presented some solutions for moving security into the DevOps lifecycle to ensure that we get fast AND ...
May. 6, 2015 04:15 AM EDT Reads: 3,877
SYS-CON Events announced today that SafeLogic has been named “Bag Sponsor” of SYS-CON's 16th International Cloud Expo® New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. SafeLogic provides security products for applications in mobile and server/appliance environments. SafeLogic’s flagship product CryptoComply is a FIPS 140-2 validated cryptographic engine designed to secure data on servers, workstations, appliances, mobile devices, and in the Cloud....
May. 6, 2015 04:15 AM EDT Reads: 2,591
SYS-CON Events announced today that Akana, formerly SOA Software, has been named “Bronze Sponsor” of SYS-CON's 16th International Cloud Expo® New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Akana’s comprehensive suite of API Management, API Security, Integrated SOA Governance, and Cloud Integration solutions helps businesses accelerate digital transformation by securely extending their reach across multiple channels – mobile, cloud and Internet of Thi...
May. 6, 2015 04:00 AM EDT Reads: 2,566
There has been a lot of discussion recently in the DevOps space over whether there is a unique form of DevOps for large enterprises or is it just vendors looking to sell services and tools. In his session at DevOps Summit, Chris Riley, a technologist, discussed whether Enterprise DevOps is a unique species or not. What makes DevOps adoption in the enterprise unique or what doesn’t? Unique or not, what does this mean for adopting DevOps in enterprise size organizations? He also explored differe...
May. 6, 2015 04:00 AM EDT Reads: 2,781
In his session at DevOps Summit, Tapabrata Pal, Director of Enterprise Architecture at Capital One, will tell a story about how Capital One has embraced Agile and DevOps Security practices across the Enterprise – driven by Enterprise Architecture; bringing in Development, Operations and Information Security organizations together. Capital Ones DevOpsSec practice is based upon three "pillars" – Shift-Left, Automate Everything, Dashboard Everything. Within about three years, from 100% waterfall, C...
May. 6, 2015 03:45 AM EDT Reads: 5,711
SYS-CON Events announced today that Plutora, Inc., the leading global provider of enterprise release management and test environment management SaaS solutions, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Headquartered in Mountain View, California, Plutora provides enterprise release management and test environment SaaS solutions to clients in North America, Europe and Asia Pacific. Leading companies ...
May. 6, 2015 03:45 AM EDT Reads: 2,412
SYS-CON Events announced today that Open Data Centers (ODC), a carrier-neutral colocation provider, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Open Data Centers is a carrier-neutral data center operator in New Jersey and New York City offering alternative connectivity options for carriers, service providers and enterprise customers.
May. 6, 2015 03:30 AM EDT Reads: 3,332
Skeuomorphism usually means retaining existing design cues in something new that doesn’t actually need them. However, the concept of skeuomorphism can be thought of as relating more broadly to applying existing patterns to new technologies that, in fact, cry out for new approaches. In his session at DevOps Summit, Gordon Haff, Senior Cloud Strategy Marketing and Evangelism Manager at Red Hat, will discuss why containers should be paired with new architectural practices such as microservices ra...
May. 6, 2015 03:30 AM EDT Reads: 2,257
May. 6, 2015 03:15 AM EDT Reads: 3,229
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet conditions, Dyn ensures...
May. 6, 2015 03:15 AM EDT Reads: 3,037
SYS-CON Events announced today that Blue Box has been named “Bronze Sponsor” of SYS-CON's DevOps Summit New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Blue Box delivers Private Cloud as a Service (PCaaS) to a worldwide customer base. Built on a technology platform leveraging decades of operational expertise in cloud and distributed systems, Blue Box Cloud is a managed private cloud product available in both hosted and on-prem versions. Each Blue Box ...
May. 6, 2015 03:00 AM EDT Reads: 2,023