Vapor Group Inc, now known as NewGen Concepts Inc (OTCMKTS:VPOR), continues to march forward with its Easy Grinder product. The primary focus of the company is the design, manufacture and marketing of high quality vaporizers, e-cigarette brands and custom formulated, high purity “Made in the USA” e-liquids. These products are sold under the Vapor Group, Total Vapor, and Vapor 123 brands.
Total Vapor Inc is the exclusive worldwide distributor, and a direct reseller of the new Easy Grinder. The Easy Grinder is used by consumers to grind cannabis in preparation for consumption via a vaporizer, to smoke in pipe, or to roll it into a cigarette. The hand-held Easy Grinder is rechargeable, electronically controlled, and made to be fast and non-clogging even when grinding an herb of high moisture content. The simple-to-use grinder includes a built-in storage area to hold an ample supply of unground cannabis.
The combination of the continued increase in the use of recreational cannabis resulting from the wave of legalization taking place across the country, and the practical utility and popularity of the product itself, has prompted a sharp increase in the demand for it. Recent press releases reflect as much.
On March 8, 2017, NewGen Concepts, Inc. announced that because of tremendous demand for Easy Grinder,and to accelerate its production and delivery, it is going to invest in its own manufacturing facility in China.
Since the first two Easy Grinder production runs of over 40,000 units, (March and June) are essentially sold out, and demand is continuing to grow daily, both domestically and multi-nationally, the Company has decided that it is vital to 2017 revenues and profits, to expand its overall focus on Easy Grinder even further.
The Company’s Chief Operating Officer is already in to China, to finalize the negotiation and opening of a manufacturing facility, solely for Easy Grinder production and export.
On March 14, 2017, NewGen Concepts, Inc. announced that because of the tremendous demand for Easy Grinder, one of the largest distributors of CBD oil in the U.S. is negotiating for the distribution of Easy Grinder across the U.S. The agreement represents a major distribution leap for Easy Grinder. The CBD distributor sells to over 7,000 re-sellers and retail outlets. This will give Easy Grinder a huge diverse retail presence.
As a result, future production runs of Easy Grinder will significantly increase. The first two productions run of over 40,000 units (March and June) have already sold out, causing the Company to accelerate production and delivery by opening its own manufacturing facility in China. Retail and wholesale demand for Easy Grinder continues strong and is projected to represent a major impact on 2017 revenues and profits.
VPOR stock has been on a upward trend since the beginning of 2017. It made a strong upward spike on February 22, 2017 topping out at $.0068 before retracing and consolidating at $.0031 where it is trading now. Fourth quarter financials for 2016 are yet to be reported. Revenues over the last year are showing steady increase. This positive revenue trend should continue with the increased demand for the Easy Grinder product. Current market capitalization stands at $8.24 million, on 2.66 billion shares outstanding as of March 18, 2017
The decision to build a manufacturing plant in China is a major step. Such bold moves are not initiated unless vary large scale production needs are anticipated. This is a strong indication of where the NewGen Concepts, Inc. management plans to take the company. At the price at which the stock is trading right now, the downside risk is minimal, while the upside potential is excellent.
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Disclosure: We have no position in VPOR and have not been compensated for this article.