Electronic Cigarette International (ECIG)
Electronic Cigarette International (ECIG) is an independent marketer and distributor of vaping products and electronic cigarettes. The company’s main goal is to expand its market share in the speedily growing global electronic cigarette and vaping (“e-cigarette”).
E-cigarettes are battery- powered items which simulate tobacco smoking through inward breath of nicotine vapor without the flame, fire, carbon monoxide, tobacco, tar, cinder and different chemicals found in conventional flammable cigarettes.
As indicated by Euromonitor International, the worldwide tobacco industry has a $783 billion market share overall, including an expected $1.3 billion smokers universally. The worldwide e-cigarette business sector is required to develop to $51 billion, or a 4% of market share of the overall tobacco market, by 2030.
Electronic Cigarette International recently announced strong results for the second quarter with sales of $11.8 million, compared with the same period of last year. Its gross profit stood around $6.6 million, which increased to 56% from 53% in the same period of last year. Growth in its sales and gross margin clearly represents strong demand for Electronic Cigarette’s.
Its CEO, stated, “The second quarter revenue results were strong, despite the Company’s lack of working capital to fund certain growth initiatives and delays in executing our expansion plans in the UK and internationally. However, with the completion of our financial recapitalization in early July, we are now in a position to capitalize on targeted opportunities to drive profitable growth in the future.”
The company’s stock currently trades around $0.11 per share with average volume of 159,820 shares. It has market capitalization of $11.8 million and 52 week trading range of $0.09 – $0.39 a share. At the end of latest quarter, authorized shares are standing around 300,000,000, while outstanding shares stood at 75,128,932.