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Vapor Group, Inc., VPOR, Releases Letter to Shareholders
Vapor Group, Inc., VPOR, Releases Letter to Shareholders.
About this update from Vapor Group Inc
[{"type":"text","content":"\n\n\n\nVapor Group, Inc., VPOR, Releases Letter to Shareholders\n\n\n\n\n\nVapor Group, Inc., VPOR, Releases Letter to Shareholders\nPR Newswire\nMIAMI, August 22, 2017\n\n\n\nMIAMI, August 22, 2017 /PRNewswire/ --\n\nVapor Group, Inc. (OTC Pink: VPOR), (\"Company\"), today released the following letter to shareholders from its President and CEO, Yaniv Nahon.\n\nDear Shareholders:\n\nWe have become aware that some of you have become concerned about recent events at the Company, and are seeking clarification and more information. As your new President, I am writing to you to try to address some of these concerns, and plan to write to you regularly in the future.\n\nUnder terms of an exclusive worldwide distribution contract with EZ Grinder, Inc., a privately held company holding all intellectual property rights to Easy Grinder™, Total Vapor, Inc. a subsidiary of the Company, is the sole worldwide distributor of Easy Grinder™. It will remain so for the foreseeable future. Under terms of the contract, we hold the sole rights to manufacture and distribute Easy Grinder™.\n\nSince its market introduction this year, we have been able to ship 12,000 Easy Grinders to date. Earlier, we had announced that we had commitments from distributors for the purchase of many more. However, we encountered serious limitations on what we were able to ship against distributor commitments due to the pre-production need to redesign critical components of the grinder, which delayed the start of initial production and slowed factory output. This in turn, forced higher manufacturing costs and resultant increases in wholesale and retail pricing. Consequently, several distributors reduced the size of their orders, backed off on commitments, or decided to delay acceptance of shipments of the higher priced product until we could prove market acceptance of Easy Grinder™. Today, we believe we have proven that the market for a superior grinder exists, that we have such a grinder in Easy Grinder™, and that our overall sales of Easy Grinder™ will continue to grow and escalate year-over-year. We are confident in our assessment based on the overwhelming positive responses Easy Grinder™ has received in online reviews, sales and from attendees at the BIG Industry Show in New York City in August, and ASD Market Week and the CHAM...