DAVIE, FL--(Marketwired - Apr 15, 2014) - AvWorks Aviation Corp. (OTCQB: SPLI) (the "Company") announced today that per SEC requirements, it had filed on form 10-K its annual report and audited financial statements for results in 2013 before merging with Vapor Group, Inc., ("Vapor Group").
A Copy of the complete filing can be found at:
http://www.sec.gov/Archives/edgar/data/1315718/000147793214001720/0001477932-14-001720-index.htm
Dror Svorai, President, stated, "As a formality we are required to file an annual report for the publicly-held aviation company as it was before we took it over. It's a look back at where the old public company was, and definitely not reflective of where the new company (Vapor Group) is going, or, in fact, is now."
He added, "My point is that on April 7, 2014 on Form 8-K/A, we filed with the SEC audited financial statements for Vapor Group, Inc. solely (not the aviation company), and we were proud to say that in our first full year of operation (2013), Vapor Group had gross revenues of $1,991,023 (audited), and a gross profit of $1,124,273, achieved primarily in an eight month period from May to December. Highly significant is that Vapor Group showed a net profit in 2013. That said, we project that our first quarter 2014 revenues and overall operating results will be well ahead of those for last year, and that 2014 is poised to be a very strong year for us overall."
About the Vapor Group
Vapor Group, Inc., www.vaporgroup.com, is in the business of designing, developing, manufacturing and marketing high quality, vaporizers and e-cigarette brands which use state-of-the-art electronic technology and specially formulated, "Made in the USA" e-liquids, which may or may not contain nicotine. It offers a range of products with unique e-liquid flavors that is unmatched in our industry. Its products are marketed under the Vapor Group, Total Vapor, Vapor 123, and Vapor Products brands. It sells nationwide through distributors, wholesalers and directly to consumers through its own websites and direct response advertising.
All of its E-cigarettes consist of a long-life battery, a heating element, a cartridge filled with an "e-liquid" and an atomizer which when heated, vaporizes the e-liquid. Because E-cigarettes are not "lit" like regular cigarettes, they don't create flame, smoke from burning, ash, tar, noxious fumes or leftover "cigarette butts". As a result, they may be used virtually anywhere.
Vapor Group is committed to providing E-cigarettes that are convenient and economical to use, safer and healthier than traditional smoking, and which provide a flavorful, enjoyable smoking experience.
Vapor Group, Inc. is managed by a highly experienced team of executives committed to responsible business policies and practices, including the marketing of our products only to those eighteen years of age or older, not making or avoiding claims about our product health benefits, and fulfilling the requirements of all applicable laws and regulations.
Safe Harbor Statement:
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.