DAVIE, FL - (NewMediaWire) - November 17, 2015 - Vapor Group, Inc. (OTCQB: VPOR), (the "Company"), announced that on September 1, 2015, it had acquired 100% of Smart Wheels, Inc., a Florida corporation ("Smart Wheels") and startup created by the principal officers and directors of Vapor Group, Dror Svorai, its President, and Yaniv Nahon, its Vice President and Chief Operating Officer. Smart Wheels was started with the sole intended purpose to be acquired by Vapor Group in order to broaden the scope of products sold by Vapor Group to consumers and resale channels alike. Consideration paid for the acquisition was cash paid solely for the reimbursement of startup expenses and the purchase of Smart Wheel's initial product inventory.
Dror Svorai, President and CEO, said, "This past summer we identified the opportunity to begin importing and reselling to consumers online and at retail, and wholesaling to other resellers nationally, the latest, high tech, scooter boards that are now being bought by consumers for the holidays. So, we formed Smart Wheels this fall in order to take advantage of this opportunity having these products custom manufactured for us under the 'Whizboard' brand name." He added, "We are excited by the ever increasing number of orders that we have been receiving for them and expect that this new line of scooter boards will significantly contribute to revenues for 2015 as we augment the scope of our business beyond vapor-related products."
About Smart Wheels, Inc.
Smart Wheels, Inc. was incorporated on August 26, 2015, by its Shareholders, Dror Svorai, President of Vapor Group, Inc., and Yaniv Nahon, Vice President and Chief Operating Officer of Vapor Group, Inc., in order to import and market in the United States, a new line of 2-wheel, motorized, personal, mobility devices, commonly known as "scooters," under the brand name, "Whizboard." Its products are sold directly to consumers from its website, http://www.whizboard.com, and it also acts as a wholesaler of its products to retailers and other online resellers in the United States.
About Vapor Group, Inc.
Vapor Group, Inc., www.vaporgroup.com, is in the business of designing, developing, manufacturing and marketing high quality, vaporizers and e-cigarette brands which use state-of-the-art electronic technology and specially formulated, "Made in the USA" e-liquids. It offers a range of products with unique e-liquid flavors, which may or may not contain nicotine, that is unmatched in its industry. Its products are marketed under the Vapor Group, Total Vapor, Vapor 123, and Vapor Products brands which it sells nationwide through distributors and directly to consumers through its own websites. In addition, Vapor Group owns and operates Smart Wheels, Inc., a full service interactive advertising agency. Total Vapor Inc., Vapor 123 Inc., Vapor Products, Inc., and Smart Wheels, Inc., each a Florida corporation, are each a wholly-owned subsidiary of Vapor Group, Inc.
Safe Harbor Statement:
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.