DAVIE, FL--(Marketwired - Mar 27, 2014) - AvWorks Aviation Corp. (OTCQB: SPLI), (the "Company", "AvWorks"), released today a preliminary statement of the full year 2013 results for Vapor Group, Inc. ("Vapor Group").
For calendar year, 2013, the Vapor Group's first full year of operation, it had gross revenues (audited) in excess of $1,975,000, which were achieved by steady increases in sales month-over-month throughout the year. Although final audited net profit figures are not yet available, Vapor Group was profitable in its first year of operations. Final audited financial statements for 2013 will be released in the coming weeks.
Dror Svorai, President and CEO, added, "For Vapor Group, the last 6 months of 2012 when we started were essentially all startup mode, significant sales activity didn't begin until May, 2013 and we are proud to have launched so successfully in our first year! So far 2014, is far outpacing 2013 in terms of revenues and anticipated profit. We believe our first quarter 2014 results, when announced, will prove this statement."
"Important, readers need to remember that Vapor Group, Inc. didn't merge into AvWorks Aviation Corp. until January 22, 2014, and that we hired a new PCAOB-qualified independent accountant more or less simultaneously, to make sure that our books and records are accurate for 2012, 2013 and beyond. Moreover, as you will see in the coming days, subject to the review and audit of our new independent accountant, we are amending many prior year filings of AvWorks Aviation Corp. in order to add accuracy, transparency and to help build investor confidence."
About the Vapor Group
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, which may or may not contain nicotine. It offers a range of products with unique e-liquid flavors that is unmatched in our industry. Its products are marketed under the Vapor Group, Total Vapor, Vapor 123, and Vapor Products brands. It sells nationwide through distributors, wholesalers and directly to consumers through its own websites and direct response advertising.
All of its E-cigarettes consist of a long-life battery, a heating element, a cartridge filled with an "e-liquid" and an atomizer which when heated, vaporizes the e-liquid. Because E-cigarettes are not "lit" like regular cigarettes, they don't create flame, smoke from burning, ash, tar, noxious fumes or leftover "cigarette butts". As a result, they may be used virtually anywhere.
Vapor Group is committed to providing E-cigarettes that are convenient and economical to use, safer and healthier than traditional smoking, and which provide a flavorful, enjoyable smoking experience.
Vapor Group, Inc. is managed by a highly experienced team of executives committed to responsible business policies and practices, including the marketing of our products only to those eighteen years of age or older, not making or avoiding claims about our product health benefits, and fulfilling the requirements of all applicable laws and regulations.
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.