Asberry 22 Holdings Inc (ASHI)

[hostastock]

Vapor Hub International Announces Sales Increase; Gross Margins Improving  

[31-May-2016]

 

 

SIMI VALLEY, Calif., May 31, 2016 /PRNewswire/ -- Vapor Hub International Inc. (OTC: VHUB) (www.vapor-hub.com) announced today sales of $4.5 million for the nine months ended March 31, 2016, compared to $3.6 million in the previous comparable time period. Gross profit totaled $1.9 million for the nine months and gross margins improved to 39.4 percent from 32.2 percent for the prior year period as the Company is now distributing more of its proprietary products rather than purchasing products for resale. "A recent 18 percent decrease in our payroll will help our financial results as we move forward," Mr. Winther said.

The Company commented in its 10Q filing www.sec.gov on recent rules concerning vaping and e-cigarettes promulgated by the U.S. Food & Drug Administration. "We plan to put out more of our Limitess Mod products before August 2016, allowing us to continue selling these products for two years without having to submit a new product application at the FDA," Mr. Winther explained.