OTC Markets Removes VAPRs Previous Shell Designation Further Upgrading its Trading Credibility

Rhea-AI Summary

VaporBrands International (OTC PINK:VAPR) announced that it has been upgraded by OTC Markets, now no longer classified as a Shell Company, which enhances its credibility. This change is significant in improving transparency for shareholders, according to COO Gene Langmesser. E-Cite Motors, a subsidiary, has reportedly sold out its expected 2023 production of the EV-GT and RamboTruck, and is taking pre-orders for the new E-Cite EV-222 Hypercar expected in 2024. The EV-GT starts at $89,999, while the RamboTruck starts at $149,999.

Positive

• OTC Markets removed VAPR's Shell designation, improving its credibility.
• E-Cite Motors has sold out expected 2023 production of the EV-GT and RamboTruck.
• Reservations for the EV-GT, RamboTruck, and new EV-222 Hypercar are being accepted.

Negative

• None.

BOTHELL, WA / ACCESSWIRE / November 17, 2022 / VaporBrands International, Inc. dba E-Cite Motors Group, (OTC PINK:VAPR) announced that OTC Markets no longer classifies VAPR as a Shell Company under the SEC Definition. OTC Markets has removed the Shell designation, upgrading its credibility rating of VAPR.

A shell Company is defined in Rule 405 under the Securities Act and Rule 12b-2 under the exchange Act, as a Company (other than an issuer of asset backed securities) with no or nominal operations that has any one of the following: No or nominal assets. Assets consisting solely of cash and cash equivalents.

E-Cite Motors COO Gene Langmesser commented: "The removal of the former Shell designation is a critical step in our efforts to increase transparency and confidence for our shareholders. We are very glad to have received this significant upgrade and intend to continue to improve our corporate governance."

Recently E-Cite announced that it believes that it has sold out of all expected 2023 production of both the EV-GT and the RamboTruck as a result of reservations and dealer purchases allocated from SEMA 2022.

E-Cite also took reservations and dealer allocations for the E-Cite EV- 222 its Hypercar expected for 2024 delivery.

The EV-GT is a RWD sportscar with a Targa top that is available with a variety of motors and a base price of $ 89,999. The RamboTruck is an all-wheel drive Truck/SUV that is available in both Boulevard and extreme off-road versions and a base price of $149,999.

Reservations for the EV-GT, RamboTruck, and 222 are still being accepted for a $ 100.00 fully refundable deposit at www.ecitemotors.com

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 recently acquired 100% ownership in E-Cite Motors, Acclaimed Automotive www.acclaimedauto.com, and N2A Motors www.n2amotors.com a California-based custom auto manufacturer and car factory specializing in designing, engineering and building prototype, concept, and limited production vehicles for OEMs, corporations, movies, and private owners. N2A was led by legendary designer Gene Langmesser who now serves as the COO of the combined operations.

CONTACT:
VaporBrands International, Inc. dba E-Cite Motors
ceo@vaporbrandsint.com
www.ecitemotors.com

SOURCE: VaporBrands International, Inc.

View source version on accesswire.com:
https://www.accesswire.com/726655/OTC-Markets-Removes-VAPRs-Previous-Shell-Designation-Further-Upgrading-its-Trading-Credibility

FAQ

What recent change did OTC Markets make regarding VAPR?

OTC Markets removed the Shell designation from VaporBrands International (VAPR), enhancing its credibility.

What are the starting prices for E-Cite Motors' vehicles?

The starting price for the EV-GT is $89,999, while the RamboTruck starts at $149,999.

What has E-Cite Motors achieved in terms of production for 2023?

E-Cite Motors reported that it has sold out all expected 2023 production of the EV-GT and RamboTruck.

When is the E-Cite EV-222 Hypercar expected to be delivered?

The E-Cite EV-222 Hypercar is expected for delivery in 2024.