SIMI VALLEY, Calif., Feb. 24, 2015 /PRNewswire/ — Vapor Hub International Inc. (VHUB) today announced it has reduced its payroll expenditures in December 2014/January 2015 by 57 percent compared to payroll expenditures in May/June 2014.
“We have streamlined our manufacturing process, meaning our new machine now handles most of the building of products, and we have developed a new, limitless mod, with less parts, that is easier to build and requires less manhours,” said Kyle Winther, CEO.
“Our financial results in the most recent quarter, although showing revenues again topping one million dollars, were not what we wanted them to be. We know that is unacceptable going forward for our investors. So we have taken initiatives, including payroll reductions, to ensure better financial results in the future,” VHUB’s CEO said.
“We are very aware of the expectations of our investors and potential shareholders and we will make every effort to meet these,” Mr. Winther concluded.
About the Company
Vapor Hub International Inc. is a California-based company engaged in the development, production and sales of electronic cigarette products, including high quality e-liquids, custom mechanical mod e-cigarettes, and unique personal modifications. For more information regarding the Company, visit www.vapor-hub.com.
This press release contains “forward-looking statements,” as defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this press release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the statements contained in this press release are reasonable, there can be no assurance that such statements will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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