Newgen Concepts Inc (OTCMKTS:VPOR) Subsidiary Focus On Cannabis-Related Products
Newgen Concepts Inc (OTCMKTS:VPOR) formerly named Vapor Group, Inc. reported that its subsidiary unit, Total Vapor Inc. is moving its focus to serve the booming marijuana market. Yaniv Nahon, the COO, said that they have initiated two new assignments comprising the advancement of thrilling new items specific to the growing utilization of cannabis in the numerous states where it is now approved.
Going forward marijuana products will show a baseline of growth for Newgen as it increases its emphasis on the marijuana market. The plan is to spin-off Total Vapor from NewGen in the imminent future, wherein subsidiary will then turn to be an independent publicly traded firm with products totally engrossed in the marijuana market. In the imminent weeks, they project to report the first such patented Cannabis-related items that will considerably drive Total Vapor’s earnings and revenues in the future.
Newgen Concepts was established in 2016 to acquire, advance and cash-on a portfolio of operationally viable intellectual property, protected under U.S. and global patent and trademark law. Depending on this IP portfolio, its planned intent is to advance a portfolio of proprietary services and products to market, sell and license internationally.
The company was previously named Vapor Group, originated in 2012, Its main focus has factually been the design, marketing and manufacture of high quality, vaporizers and advanced electronic e-cigarette custom and brands formulated, high purity e-liquids. These items continue to be offered under the Vapor Group, Vapor 123, Vapor Products and Total Vapor brands.
It markets cutting-edge customer products covering the “Whizboard” scooters brand and “Hoverkart” accessories offered by Smart Wheels, Inc. All products are offered countrywide via distributors and directly to clients through firm-owned sites. The firm wholly owns and manages many subsidiaries, Total Vapor Inc., VGR Media, Inc., Smart Wheels, Inc and Vapor 123 Inc.
In the last trading session, the stock price of Newgen declined over 12% to close the trading session at $0.00070.© Copyright 2016 OTC News Magazine. All rights reserved.