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OTC Markets Designates "VAPR" E-Cite Motors as Highest Possible Tier of All Companies Trading on the OTC Markets Pink, to Pink "Current Information"
OTC Markets Designates "VAPR" E-Cite Motors as Highest Possible Tier of All Companies Trading on the OTC Markets Pink, to Pink "Current Information".
About this update from Vaporbrands International, Inc.
[{"type":"text","content":"BOTHELL, WA / ACCESSWIRE / May 10, 2022 / VaporBrands International, Inc. dba E-Cite Motors Group, (OTC PINK:VAPR) has been designated by OTC Markets Group to the "Current Information" Pink tier as a result of its recently filed financial disclosures along with an attorney letter with respect to current information.Recently VAPR also submitted a Change of Control application with OTC Markets which was accepted. The "Current Information" tier is the highest of all designations given by OTC Markets Group for non-reporting companies trading in the OTC:PINK markets and only companies who provide adequate information and meet all of the most recent reporting standards within six months of the current date may qualify for "Current Information". The Company Profile must also be verified through OTCIQ in order to qualify for this tier as well as verifications from the Company's transfer agent. All of which have been completed. OTC Markets has reflected this designation at https://www.otcmarkets.com/stock/VAPR/overview.The Company intends to submit for a name change and new symbol that more accurately depicts the business that the Company is currently engaged in shortly.About OTC Markets Group: OTC Markets Group is an American financial market providing price and liquidity information for almost 10,000 over-the-counter securities. The group has its headquarters in New York City. OTC-traded securities are organized into three markets to inform investors of opportunities and risks: OTCQX, OTCQB and Pink.Unlike competitors Tesla, Nikola, Polestar, Lucid, VW, Ford, Jaguar, and others, E-cite is not required to meet any of the safety or other costly certifications of a traditional auto manufacturer making the ease and timeline of offering new vehicles to market significantly more favorable. Whereas the initial timeline to be able to deliver a production vehicle to market generally exceeds 3 years and often longer at a very high cost, E-Cite expects to be delivering its first production vehicles for the 2023 model year. That is less than 12 months from inception to the showroom.This is possible because E-Cites vehicles qualify under the "Low Volume Vehicle Manufacturers Act of 2015" In 2015 Congress enacted a bill into law directing the NHSTA to establish a program allowing low volume motor vehicle manuf...