- VPR Brands commissioned a report outlining where 2020 presidential hopefuls stand on legalizing cannabis in an effort to promote a strong cannabis industry
- The company continues to execute its growth plan by adding products, adding customers and increasing sales
- VPR Brands recorded an increase in quarterly revenues, a lowered net loss and a strong gross operating margin
As America looks toward the 2020 election, one key issue is weighing on the minds of companies and employees within the cannabis industry. Which candidates seek to make cannabis legal and to see the industry thrive?
VPR Brands LP (OTCQB: VPRB), a technology holding company specializing in vaporizers and accessories for essential oils, cannabis concentrates, extracts, and electronic cigarettes containing nicotine, shows revenue and product potential to compete with larger companies on the OTC in the cannabis sector. The company’s Q1 2019 report (http://ibn.fm/6WVql) announced a 31 percent year-over-year increase in quarterly revenues, a lowered net loss, and a strong gross operating margin above 40 percent. As VPRB continues to invest in inventory and new products to keep up with increased demand, it is only natural that its leadership keep a close eye on the presidential debate stage.
Kevin Frija, the CEO of VPRB, commissioned a report (http://ibn.fm/IXAzA) to outline where the 2020 presidential hopefuls stand on this critical issue. Journalist William Freedman was sponsored by VPRB to investigate what the nearly 30 candidates have been saying and doing about cannabis’ future in America. The purpose of the report was to provide clear, factual data to voters interested in the cannabis industry.
The resulting landmark study, titled ‘The VPR Brands Voters’ Guide to 2020 U.S. Presidential Candidates on Cannabis Issues’, can be read in its entirety at www.VPRBrands.com/Cannabis-Vote-2020.
As the cannabis industry continues to flourish and grow, becoming a major contributor to both local and global economies, political figures can no longer afford to ignore or demonize it. Indeed, this is the first presidential election where candidates have been willing to take on controversial public positions on cannabis issues, and many are utilizing all avenues to do so: from the presidential debate stage to their personal social media accounts. On October 15, 2019 in the middle of the Ohio democratic debate, Beto O’Rourke tweeted, “Legalize marijuana” (http://ibn.fm/JG5Hs) with a follow-up image promoting legalization (http://ibn.fm/H2xQg).
A light-hearted exchange (http://ibn.fm/OG6Re) between Cory Booker and Bernie Sanders where the latter joked he was not “on [medicinal marijuana] tonight” further highlights the shifting public attitudes toward the burgeoning industry that was once marginalized to shadowy back alleys. As big pharmaceutical companies are coming under fire for the growing opioid crisis, people and politicians are looking to cannabis as part of the solution (http://ibn.fm/j1UNy).
VPRB’s commissioned report outlined four cultural shifts in America in regard to cannabis over the past decade. They are:
- Acceptance of CBD and THC for both medical and recreational use
- Recognition that the laws prohibiting their sale and possession might be disproportionate to the harm to society
- Acquiescence in one-time tobacco-growing states that industrial hemp could serve as a replacement cash crop
- Realization that no business can be fully legitimized until banks can provide it financing without fear of losing their federal charters
Reexamination of cannabis policy at the federal level is necessary for the industry to thrive. As the federal government catches up, VPRB continues to drive growth by adding products, adding customers, and increasing sales. In 2019 a major growth initiative has been to drive revenue through ecommerce, which has brought in approximately 10 period of VPRB’s total revenue. They continue to seek out strategic partnerships, drive organic customer growth, and stay on the forefront of innovation.
For more information, visit the company’s website at www.VPRBrands.com
NOTE TO INVESTORS: The latest news and updates relating to VPRB are available in the company’s newsroom at http://ibn.fm/VPRB
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