ORGANIZATION

9 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

ORGANIZATION

NOTE 1. ORGANIZATION

VPR Brands, LP (the “Company”, “we” or “our”) was incorporated in New York on July 19, 2004, as Jobsinsite.com, Inc. On August 5, 2004, we changed our name to Jobsinsite, Inc. On June 18, 2009, we merged with a Delaware corporation and became Jobsinsite, Inc. On July 1, 2009, we filed articles of conversion with the secretary of state of Delaware and became Soleil Capital L.P., a Delaware limited partnership. On September 2, 2015, we changed our name to VPR Brands, LP. We are managed by Soleil Capital Management LLC, a Delaware limited liability company.

The Company is engaged in the electronic cigarette and personal vaporizer industry. The Company is a holding company whose assets include issued U.S. and Chinese patents for atomization related products, including technology for medical marijuana vaporizers and electronic cigarette products and components. The Company is also engaged in product development for the vapor or vaping market, including e-liquids. Electronic cigarettes are electronic devices which deliver nicotine through atomization, or vaping of e-liquids and without smoke and other chemicals constituents typically found in traditional tobacco burning cigarette products. The Company owns a portfolio of electronic cigarette and personal vaporizer patents that are the basis for its efforts to:

· Design, market and distribute a line of e-liquids under the “HELIUM” brand;

· Design, market and distribute a line of vaporizers for essential oils, concentrates, and dry herbs under the “HONEYSTICK” brand;

· Design, market and distribute a line of cannabidiol products under the “GOLD LINE” brand;

· Design, market and distribute electronic cigarettes and popular vaporizers;

· Prosecute and enforce the Company’s patent rights;

· License the Company’s intellectual property; and

· Develop private label manufacturing programs.

The Company designs, develops and markets electronic cigarette e-liquids sold under the Helium brand. Its electronic cigarette e-liquids are marketed as an alternative to tobacco burning cigarettes. The Company launched the Helium brand in limited U.S. markets in 2016 and has grown distribution through third-party distributors. Shortly after the U.S. launch, the Company plans to introduce its electronic cigarette brand to the Chinese market. China is the largest producer and consumer of tobacco products in the world, but the Company believes that Chinese consumption of electronic cigarettes trails U.S. adoption and use. The Company believes that an opportunity exists to develop and expand its business and its Helium brand electronic cigarette e-liquids in China.

The Company designs, develops, markets and distributes HoneyStick vaporizers and Goldline CBD products, which are products oriented toward the cannabis markets. The CBD line was in development during 2017. The HoneyStick brand was acquired in July 2016 and further developed and expanded continuously throughout 2016 and 2017 by adding new products and expanding marketing and advertising.

On July 29, 2016, the Company entered into and closed an Asset Purchase Agreement with Vapor Corp. (“Vapor”) and the Company’s Chief Executive Officer, Kevin Frija (the former Chief Executive Officer of Vapor), pursuant to which Vapor sold Vapor’s wholesale operations and inventory related thereto to the Company. The Vapor acquisition comprises almost all of the Company’s revenue going forward.