Newgen Concepts Inc (OTCMKTS:VPOR) shares were flat on Friday but surged 9.09% in after-hours trading. Here's why.
Newgen Concepts Inc (OTCMKTS:VPOR) shares were flat on Friday but surged 9.09% in after-hours trading to $0.00120. The company has a market cap of $4.07 million at 4.04 billion shares outstanding. Share prices have been trading in a 52-week range of $0.00 to $0.00.
NewGen Concepts Inc was formerly known as Vapor Group Inc. It is an intellectual property, product development and worldwide marketing company that was was formed to acquire, develop and capitalize on a portfolio of commercially viable intellectual property. Based on this intellectual property portfolio, the company intends to develop a portfolio of products and services to market, license and sell across the globe. One of its subsidiaries is Total Vapor Inc.
This subsidiary was locked as part of a merger agreement, which allowed NewGen Concepts Inc to explore the spin-off of each of Vapor Group’s subsidiaries as an independent, publicly-traded company. The first such spin-off was Total Vapor Inc which is currently expanding its product offering into vaporizers and related products suitable to the growing market for legal cannabis products sold in the United States.
We are very excited about our new line of CBD oil-infused products which are high purity and many of which are suitable for vaping or topical use. All flavoring components are organic, and we will be offering over fifty different flavors in various concentrations.” He added, “We are today beginning the process of launching the nationwide marketing for our CBD line, and anticipate strong initial sales. This launch is only the first of many as we sharpen our focus on products for the growing MJ Market by the addition of many additional brands,” remarked Newgen Concepts Inc CEO Yaniv Nahon.
Its product being developed from its portfolio is Simple Cork. The Company’s Simple Cork is a self-contained cork bottle opener, which is usable by wineries across the world. Simple Cork is designed to revolutionize the packaging of wine by providing a level of customer convenience. The company focuses on various markets, including the United States and wine-producing European countries, France and Italy.
In a press release earlier in the month, NewGen Concepts Inc announced that subsidiary Total Vapor Inc received an immense positive response from resellers and individuals alike in the marijuana market after its announcement of Easy Grinder which is rechargeable, electronically controlled, fast and non-clogging and includes a built-in herb storage area. This puts the company in a unique position to take part in the potential marijuana industry boom after several states legalized the use of medical or recreational marijuana in the elections last year.
In the coming weeks, NewGen Concepts Inc subsidiary Total Vapor Inc will be launching a website so that individuals can purchase Easy Grinder online and will release online videos showing the product in use. This month, the company will begin attending several B2B and B2C West Coast MJ Market trade shows, and launch a massive consumer marketing and PR campaign promoting the uniqueness and ease-of-use of Easy Grinder. Soon after, the company announced that Total Vapor Inc is already accepting pre-orders on its website. Also, Total Vapor has attended the Big Show on January 19-20 in Los Angeles where it showcased Easy Grinder at booth 338.
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