VAPE HOLDINGS INC (OTCMKTS:VAPE) is moving up steadily on accelerating volume since the stock reversed off $0.40 lows.
The Company just announced second quarter 2015 results; For its fiscal second quarter ended March 31, 2015, Vape generated quarterly revenues of $415,259. Gross margins of 28.3% generated gross profit of $117,617. Net income and EPS was $85,145 and $0.01 per share, and included non-cash items of derivative warrant liability and gain on settlement totaling $782,185. These results have no true year-over-year comparison, as Vape had just commenced its business operations in early 2014, having generated $30,759 in revenue for the quarter ended March 31, 2014. The Company’s cash balance at quarter-end March 31, 2015 was $241,691.
For the six months ended March 31, 2015, Vape generated revenues of $801,902. Net income and EPS was $668,055 and $0.07 per share, and included non-cash items of derivative warrant liability and gain on settlement totaling $2,449,940.
VAPE HOLDINGS INC (OTCMKTS:VAPE) sells a number of vaporization products. The company offers medical and food grade ceramic products primarily under the HIVE Ceramics brand throughout North America, Europe and South America. HIVE offers a nonporous, non-corrosive, chemically inert ceramic vaporization element, which can be used for a range of applications, including stand-alone vaporization products and electronic cigarettes. The company is based in Woodland Hills, California.
VAPE has begun to book some decent revenues; in April of last year the Company announced that it has over $100,000 in sales of its proprietary HIVE Ceramic line since it began processing orders in early April. The Company also has back orders for over $250,000 in future sales as they await arrival of the ceramics from the Company’s manufacturing facility.
In September of last year VAPE added another line of products under the HIVE brand, HIVE GLASS, which is set to release on or before December 1, 2014. The HIVE GLASS line is precision made using state of the art manufacturing processes and techniques, and exclusively uses German Schott glass and fittings through all production phases.
After the $500,000 investment Kyle Tracey, VAPE CEO said ”We welcome a new institutional investor into our company and appreciate the confidence they have in our business strategy as demonstrated with their investment, We have specific plans for the capital that will continue to accelerate the sustained and increasing demand of our core business.”
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VAPE came to be on January 7 of last year after PeopleString Corp announced a 1:40 reverse stock split, name change and symbol change to VAPE Holdings Inc. The former Company developed technology, applications and tools for social-network marketers, then changed its business to a holding company operating in the legal cannabis sector.
Earlier ths month VAPE said it has filed an application with the US Patent and Trademark Office for new composition of matter and methods, which the Company has designated the “NG 100 Series Patents.”
With this federal regulatory filing, VAPE Holdings takes the first steps toward establishing new plant-derived compositions, extraction methods and related technologies for next generation cannabis-derived products. VAPE Holdings is known for its patent pending innovations in specialized ceramics for vaporization products. The internally licensed HIVE Ceramics product line is widely regarded as the gold standard of ceramic vaporizers in the industry.
“VAPE Holdings is very pleased to announce our commitment to the technology for Next Generation cannabis-derived products,” stated VAPE Holdings Chief Executive Officer Kyle Tracey. “Our NG 100 Series provisional patent application is the first of several patent positions that the Company expects to file in the general area of plant essential oil extraction, modification and analysis,” added Mr. Tracey.
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Currently trading at a $6.9 million market valuation VAPE has $240,000 in the treasury and manageable debt. Revenues are small but growing fast and the Company has quickly attracted a loyal shareholder base who is bidding up the price. We will be updating on VAPE when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with VAPE.
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Disclosure: we hold no position in VAPE either long or short and we have not been compensated for this article.