Vpr Brands, Lp Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 19, 2020 at 09:33 pm
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VPR Brands, LP announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was USD 993,509 compared to USD 1.435 million a year ago. Operating income was USD 38,256 compared to operating loss of USD 65,014 a year ago. Net loss was USD 102,652 compared to USD 152,521 a year ago. For the nine months, sales was USD 2.797 million compared to USD 4.334 million a year ago. Operating loss was USD 145,035 compared to USD 129,106 a year ago. Net loss was USD 574,596 compared to USD 480,058 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago.
VPR Brands, LP is a technology company and an intellectual property (IP) holding company. The Company is engaged in various monetization strategies of its United States patents covering electronic cigarette, vaporizer technologies, and related accessories. It designs, develops, markets, and distributes products oriented towards the cannabis markets, including the ELF and HONEYSTICK brand of vaporizers and DISSIM Lighters. It has several trademarks (ELF, HONEYSTICK, PHANTOM, RIPPER, VPOD, VAPOR X) for licensing activities. The Company is also engaged in product development for the vapor or vaping market, including e-liquids. Electronic cigarettes are electronic devices, which deliver nicotine through atomization, or vaping of e-liquids and without smoke, and other chemicals constituents typically found in traditional tobacco burning cigarette products.