SAN JOSE, Calif., April 13, 2015 (GLOBE NEWSWIRE) -- Vapir Enterprises, Inc. (OTCQB:VAPI) ("Vapir" or the "Company"), a developer and manufacturer of revolutionary, state-of-the-art, and user friendly medical-grade vaporization devices, completed a reverse merger on December 30, 2014, positioning the Company for its next phase of growth.
Hamid Emarlou, Chairman and CEO of Vapir, stated, "Our recent public listing positions Vapir to leverage its eight year track record of success, which includes hundreds of thousands of units sold globally to consumers from over 50 countries. With only 1% market share in an addressable market opportunity estimated at greater than $2 billion, we believe we will see significant shareholder value improvement in the quarters ahead."
Vapir currently offer three vaporizers, the VapirRise, VAPIR NO2 Portable Digital Vaporizer, and VAPIR Oxygen Mini Corded Vaporizer. In addition to vaporizers, the Company sells approximately 100 accessories that range from replacement batteries, replacement mouthpieces, recharging pieces, cleaning utensils, and other essentials, as well as a complete line of aromatherapy oils and herbs for vaporizer users to enjoy.
Vapir's direct sales force and third-party wholesalers, retailers, and value-added resellers sell the Company's vaporizers and related products through online stores and other retail channels including Brick and Mortar outlets.
"As we move into our next phase of growth, we're focusing on new geographic expansion and increasing our higher-margin direct sales through both online and retail store initiatives," continued Emarlou. "Through expanded marketing, branding, and public relations activities which are already underway, we anticipate driving double-digit top-line growth, while reaching near-term profitability."
The Company has established strong intellectual property protections for its proprietary technology with three domestic utility patents, two design patents relating to vaporizers, as well as two utility patent applications and one design application pending in the U.S.
About Vapir Enterprises
Vapir, Inc. invents, develops, and manufactures revolutionary, state-of-the-art and user friendly medical-grade vaporization devices. The Company's vaporizers extract active ingredients from source material by a unique and proprietary process, delivering high quality natural vapor for the best user experience. Vapir has sold hundreds of thousands of units globally since its initial launch in 2006. Learn more at www.vapir.com.
Forward-Looking Statements
Safe-Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the risk factors disclosed in the Company's periodic reports filed with the SEC. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk factors disclosed in the company's Form 10-K previously filed with the SEC.