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://ibn.fm/wSX25
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 InvestorWire
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.
As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer
InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
Editor@InvestorWire.com
InvestorWire is part of the InvestorBrandNetwork
