OTC Markets Designates "VAPR" E-Cite Motors as Highest Possible Tier of All Companies Trading on the OTC Markets Pink, to Pink "Current Information"
VaporBrands International, Inc. (OTC PINK:VAPR) has achieved the 'Current Information' Pink tier designation from OTC Markets Group after submitting required financial disclosures and an attorney letter. This tier reflects the company's compliance with OTC reporting standards. VAPR also submitted a Change of Control application. The company plans to change its name and stock symbol to better align with its business focus. E-Cite Motors, a recent acquisition, is set to launch electric vehicles under the Low Volume Vehicle Manufacturers Act, significantly reducing the time needed to market new production vehicles.
- Achieved 'Current Information' Pink tier designation, reflecting compliance with reporting standards.
- Plans to launch electric vehicles within 12 months, leveraging the Low Volume Vehicle Manufacturers Act.
- None.
BOTHELL, WA / ACCESSWIRE / May 10, 2022 / VaporBrands International, Inc. dba E-Cite Motors Group, (OTC PINK:VAPR) has been designated by OTC Markets Group to the "Current Information" Pink tier as a result of its recently filed financial disclosures along with an attorney letter with respect to current information.
Recently VAPR also submitted a Change of Control application with OTC Markets which was accepted. The "Current Information" tier is the highest of all designations given by OTC Markets Group for non-reporting companies trading in the OTC:PINK markets and only companies who provide adequate information and meet all of the most recent reporting standards within six months of the current date may qualify for "Current Information". The Company Profile must also be verified through OTCIQ in order to qualify for this tier as well as verifications from the Company's transfer agent. All of which have been completed. OTC Markets has reflected this designation at https://www.otcmarkets.com/stock/VAPR/overview.
The Company intends to submit for a name change and new symbol that more accurately depicts the business that the Company is currently engaged in shortly.
About OTC Markets Group: OTC Markets Group is an American financial market providing price and liquidity information for almost 10,000 over-the-counter securities. The group has its headquarters in New York City. OTC-traded securities are organized into three markets to inform investors of opportunities and risks: OTCQX, OTCQB and Pink.
Unlike competitors Tesla, Nikola, Polestar, Lucid, VW, Ford, Jaguar, and others, E-cite is not required to meet any of the safety or other costly certifications of a traditional auto manufacturer making the ease and timeline of offering new vehicles to market significantly more favorable. Whereas the initial timeline to be able to deliver a production vehicle to market generally exceeds 3 years and often longer at a very high cost, E-Cite expects to be delivering its first production vehicles for the 2023 model year. That is less than 12 months from inception to the showroom.
This is possible because E-Cites vehicles qualify under the "Low Volume Vehicle Manufacturers Act of 2015" In 2015 Congress enacted a bill into law directing the NHSTA to establish a program allowing low volume motor vehicle manufacturers to produce a limited number of vehicles annually within a regulatory system that addresses the unique safety and financial issues associated with limited production, and to direct the EPA to allow low volume motor vehicle manufacturers to install engines from vehicles that have been issued certificates of conformity. Although they were given one year to establish this new program it took until January 2021 until the NHSTA issued a final ruling to allow low volume vehicle manufacturing. Under the act car manufacturers are exempt from all the safety standards but they must meet current emissions standards. There are no emissions standards for EV vehicles.
E-Cite Motors has developed a modular design that will be engineered to allow the production of vehicles utilizing a skateboard style chassis that uses electric motors. As the system is fully modular this allows for configurations ranging from low powered batteries and only a single motor on up to a high powered 1000+hp performance vehicle utilizing AWD and 4 motors.
Note* E-Cites 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 recently acquired
Other Recent News:
E-Cite Motors (VAPR) Completes Chassis Design and Assembly - Begins Prototype Construction
VAPR E-Cite Motors Interview With COO Gene Langmesser Answering Shareholders Questions Available Now on Company's Website
CONTACT:
VaporBrands International, Inc. dba E-Cite Motors
ceo@vaporbrands.com
www.ecitemotors.com
SOURCE: VaporBrands International, Inc.
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FAQ
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