VPR Brands (OTC: VPRB), a licensing company owning patents and trademarks as well as a market leader for the design and sale of electronic cigarettes, or vaporizers, for nicotine, cannabis and cannabidiol (“CBD”) and other related accessories such as lighters, is reporting its second-quarter 2023 financial results. Highlights of the report show increased revenues and record profits when compared to previous quarters. The company noted that while it was able to increase Q2 2023 revenues over 2022 by an estimated $1 million to $1,909,529, and year-to-date six-month revenue by more than $2 million to $4,990,550, it was able to reduce operating expenses for the two time periods as well. The report showed that net income for VPR Brands increased to more than $928,322 in Q2 2023, up from $73,733 in Q2 2022 and $953,636 year to date, compared to a net loss of $73,508 for the six-month period ending June 30, 2022. “We have been able to successfully license and monetize our ELF brand trademark this year while aggressively protecting the mark in the courts and creating a monumental asset for the company and we are now focusing on developing business for our other trademarks as well,” said VPR Brands CEO Kevin Frija in the press release. “We believe partnering as a Licensor with experienced and well capitalized licensees to expand our brand portfolios business is the model that will work best for the company in the long run.”
To view the full press release, visit https://nnw.fm/s6TNq
About VPR Brands LP
VPR Brands is a technology company, as well as an IP holding company. The company is engaged in various monetization strategies of a U.S. patent that the company owns covering electronic cigarette, electronic cigar and personal vaporizer patents, as well as a patent for an inverted pocket lighter. The company also has several trademarks (ELF, PHANTOM, HRB, VPOD, VAPOR X, and RIPPER) for which it is also engaged in licensing and various monetization strategies. VPR Brands also designs, develops, markets and distributes products, including the HoneyStick brand of vaporizers and the Goldline CBD products, oriented toward the cannabis markets. This allows the company to capitalize on the rapidly growing expansion within the cannabis markets. The company is also identifying electronic cigarette companies that may be infringing its patents and trademarks and exploring options to license and/or enforce those patents. The company is now also selling DISSIM brand pocket lighters for which it holds a U.S. patent and patents pending. The company also has patents pending in the cigar accessory space and sells these proprietary accessories. For more information about the company, visit www.VPRBrands.com.
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)
For more information please visit https://www.networknewswire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
[email protected]
NetworkNewsWire is part of the InvestorBrandNetwork.
