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VaporBrands International, Inc. (OTC: VAPR), doing business as E-Cite Motors Group, is a publicly traded company based in Bothell, Washington. The company is at the forefront of developing and manufacturing state-of-the-art electric vehicles (EVs), blending cutting-edge technology with a nod to the iconic automobiles of the past. VaporBrands acquired 100% ownership in E-Cite Motors, Acclaimed Automotive, and N2A Motors, a California-based custom auto manufacturer and car factory renowned for designing, engineering, and building prototypes, concept cars, and limited production vehicles for OEMs, corporations, movies, and private owners.
E-Cite Motors is recognized for several pioneering achievements in the electric vehicle industry. The company recently announced it had exceeded the target amount of its Regulation CF offering, as filed with the SEC. This capital will be directed towards financing the manufacturing of its production vehicles and other general business purposes. E-Cite Motors has made history by being the first vehicle manufacturer under the Low Volume Manufacturers Act to receive approval from the California Air Resources Board (CARB) to proceed with the certification process for new EV vehicles. Additionally, E-Cite was the first to get any vehicle approved by the National Highway Traffic Safety Administration (NHTSA), allowing it to produce its own Vehicle Identification Numbers (VINs) and sell vehicles worldwide.
Recent developments include the launch of new EV models, such as the EV-C3, which resembles a modernized version of a classic sportscar from the late '60s to '70s. E-Cite has also announced plans to offer gasoline-powered versions of its mid-engine sports car models, catering to both EV and ICE enthusiasts. The company is actively working towards reducing its debt and strengthening its balance sheet by canceling old notes and paying off convertible notes.
E-Cite's vehicles are meticulously engineered, featuring aerospace aluminum chassis, mid-engine configurations, proprietary composite bodies, and advanced suspension systems. The company continues to work closely with CARB to pave the way for future certifications, ensuring its vehicles meet stringent regulatory standards. Under the leadership of CEO Barry Henthorn and COO Gene Langmesser, E-Cite Motors is poised to make a significant impact in the automotive industry.
For more information, visit www.ecitemotors.com.
VaporBrands International (VAPR) announced that CEO Barry Henthorn and COO Gene Langmesser have converted loans and deferred compensation into restricted stock at $0.01 per share, double the market price. The CEO converted $483,251 into 48,325,149 shares, while the COO converted $193,300 into 19,330,000 shares. This strategic move reduced related party payables by over 90% (from $746,340 to $69,789) and total liabilities by more than 50% (from $1,272,012 to $595,461). The restricted shares won't enter the public float until the company lists on a senior exchange and becomes fully reporting.
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