E-Cite Motors CEO Barry Henthorn Interviewed on Market Mover TV - Provides Insights about Funding, Reducing Debt, and Reducing Potential Dilution
- Financing progress and commitment for vehicle production costs
- Minimizing dilution and reaching agreement with largest debt holder
- First to receive NHTSA approval under Low Volume Manufacturers Act
- None.
BOTHELL, WA / ACCESSWIRE / September 26, 2023 / VaporBrands International, Inc. dba E-Cite Motors Group, (OTC PINK:VAPR) announced that its' CEO Barry Henthorn was featured in an interview on Market Mover TV with Mark Schaftlein.
The interview can be viewed in its entirety at https://youtu.be/BQdEm8S4xi0
The interview discusses the Companies financing progress with the Reg CF, the reasoning behind it, and plans moving forward.
Also discussed is the Company's commitment to minimizing dilution, tighten up the share structure, that it has reached an agreement with its largest debt holder, and has begun to pay off or retire old notes as the finances allow.
Barry Henthorn also makes a significant announcement about the Company being very fortunate to have received a firm commitment from a very strong supporter to finance
This agreement was referenced as a verbal commitment as was the case at the time of the interview but has now been put in writing and executed by all parties.
Barry Henthorn E-Cite CEO stated: "It's been humbling to have participation from such great people. As we continue to progress, Capital is becoming much easier to obtain, and at more favorable terms than in the past."
Host Mark Schaftlein discloses that his investment firm "Capital Consulting" invested in E-Cite through the Reg CF and that it plans on putting more money in through the Reg CF prior to its closing. He also disclosed that they have also invested in the public Company that owns the majority of E-Cite (OTC:VAPR) on numerous occasions and that it plans on continuing to do so in the future. They also have a seven figure equity stake in the company and it is the largest debt holder.
E-Cite was the first company to get any vehicle approved by the National Highway Traffic Safety Administration (NHTSA) under the Low Volume Manufacturers Act of which is has three distinctly different vehicles approved. This allows E-Cite to produce its own VINs for production of new vehicles. In addition, E-Cite was the first to receive a World Manufactures Identifier (WMI) under the Act registering it as a manufacture for the sale of vehicles worldwide.
As this is the first time in history that a manufacture has reached the point of applying for certification from CARB under the Act, and there was no process in place to do so, E-Cite is working closely with CARB while they defined the process, paving the way for future vehicles to go through the certification process.
Note* E-Cite's vehicles are in no way categorized as "Kit Cars" as they are manufactured new vehicles.
About VaporBrands International, dba E-Cite Motors
www.ecitemotors.com (OTC PINK:VAPR) is a publicly traded company based in Bothell that is developing for manufacturing, state of the art electric vehicles utilizing the latest in technologies with a flare of some of the iconic autos of the past. VAPR acquired
CONTACT:
VaporBrands International, Inc. dba E-Cite Motors
ceo@ecitemotors.com
SOURCE: VaporBrands International, Inc. dba E-Cite Motors Group
View source version on accesswire.com:
https://www.accesswire.com/787374/e-cite-motors-ceo-barry-henthorn-interviewed-on-market-mover-tv--provides-insights-about-funding-reducing-debt-and-reducing-potential-dilution
