Source: MCIG Inc, Press Release 10-6-14
BELLEVUE, Wash., Oct. 6, 2014 (GLOBE NEWSWIRE) — mCig®, Inc. (OTCQB:MCIG) (“mCig”), a technology company that owns, manufactures, and distributes the mCig®, VitaCig®, and Vapolution products, is pleased to officially unveil the company’s fifth consumer product in less than one year: The Vapolution 3.0 has been designed and engineered by the company’s investment subsidiary: Vapolution, Inc. in Chico, California.
The highly anticipated Vapolution 3.0 marks the third iteration in a decade for California based Vapolution, Inc. which is headed by Patrick Lucey and Chad Shaffer. mCig, Inc. invested in Vapolution, Inc. in early 2014. The 3.0 will be the first product co-marketed by both companies and sold in their respective distribution channels.
The Vapolution 3.0 reflects next-generation vaporization technology that has been internally researched and developed by Vapolution, Inc. since mid 2012. The company has been able to produce nearly 90% of the components in the USA at the company’s California shop. The 3.0 will retail at a price of $299 and go on sale in the fourth quarter of 2014. The 3.0 will come with a host of features that will be described below. Most of these features are currently outside the capabilities of leading vaporizers on the market. Vapolution, Inc. plans to file a US Patent on elements of this technology potentially increasing mCig’s intellectual property portfolio to three IP assets.
The Vapolution 3.0 Technical Details
The Vapolution 3.0 heater is 25% larger in diameter and 56% larger in area over the 2.0. This provides superior airflow as well as a larger bowl-size for plant material. The glass heater sleeve will be user-replaceable in the 3.0. This marks an improvement over the 2.0 where the glass sleeve and the heater were integral to each other and not user serviceable. The 3.0 will run on 12V DC power allowing it to be plugged into any 12V outlet.
The Vapolution 3.0 glass sleeve is illuminated by LED creating a beautiful visual feature. This allows users to view illuminated vapor as it rises from the heater through the sleeve, a feature we believe will become a cornerstone of the Vapolution 3.0 customer experience.
100% Digital – The Vapolution 2.0 was an open loop analog device that warmed up to a certain temperature based on the current flow to the heater. By contrast, the Vapolution 3.0 is a closed loop device utilizing a 16 MHz 8 Bit Microcontroller to monitor and control the temperature of the heater. The feedback is returned through a K-type thermocouple. The set temperature and actual temperature is displayed in real-time dynamically on an LCD screen that illuminates. Most importantly, the user has total control over the temperature in 2 degree increments from 200F to 500F. An automatic temperature stability algorithm of (+/-) 2 degrees maintains the temperature at all times.
Upgraded Safety – The Vapolution 3.0’s safety system has been upgraded. A background monitor constantly gauges the heater and thermocouple for any issues. Any issues identified result in an immediate system-shut down preventing overheating and maintaining the integrity of the system.
Sleep Timer – The Vapolution 3.0 has a built in sleep timer that will automatically switch the vaporizer to sleep-mode after 45 minutes of use. This can be undone by pressing either temperature button 3 times.
All Glass Vapor Path – The Vapolution 3.0 will include an improved version of the company’s signature all-glass path. The new all-glass vapor path will be larger to account for the larger heater and allow for more plant material to be loaded providing improved airflow throughout the device.
Stealth Mode – The Vapolution 3.0 comes with a “Stealth Mode”. This mode is activated or inactivated by pressing both temperature buttons at the same time. When the mode is active, the heater sleeve LED and the LCD backlight is automatically disabled turning the 3.0 completely dark. This feature allows users to enjoy their 3.0 while maintaining total privacy.
Hydro Tube – Another next-generation feature: The Hydro tube will be one of the most popular accessories for the 3.0. This device allows for an all glass water filter to be attached to the 3.0’s bowl creating an all glass, water filtered air path.
“This Vapolution 3.0 is an incredible new device that is, in our view, better than anything out there for the price. Even before our acquisition Vapolution, Inc. Patrick and Chad had been developing the concept for the Vapolution 3.0 and we were honoured to assist in the final development of this important product. The vaporization industry continues to grow and is now eclipsing the electronic cigarette industry in-terms of rate of growth. People seem to be making the choice to vaporize their own plant material from the convenience of their homes. There has been a lot of buzz generated around the release of the 3.0 and we believe the Vapolution 3.0 can become our highest revenue generating SKU (product) as the 10,000+ Vapolution 1.0 and 2.0 customers over the years will hopefully upgrade their devices to the 3.0 coupled with renewed marketing and sales efforts by all of our subsidiaries. Equally important, is our ability at mCig, Inc. to continue and bring quality products to market in record time. The more we innovate and bring great products to market, the more long-term value will be created for our company and its shareholders,” Said Paul Rosenberg, CEO of mCig, Inc.
“Chad and I are thrilled to be unveiling the Vapolution 3.0. We have basically spent our entire adult lives studying and innovating in the vaporization industry and we believe this latest iteration is by far the best product we have ever designed. Working with the team at mCig, Inc. has been a pleasure and over the last few months all three teams (VitaCig, mCig, Vapolution) have grown closer in collaboration and sharing of design, marketing, and culture. I want to thank Paul, Mark, and Jordan for their assistance in completing the design of this important product,” Said Patrick Lucey, CEO of Vapolution, Inc. an mCig, Inc. investment subsidiary.
About mCig, Inc.
mCig, Inc. (OTCQB:MCIG) is a technology company focused on two long-term secular trends sweeping the globe: (1) The decriminalization and legalization of marijuana for medicinal or recreational purposes (2) The adoption of electronic vaporizing cigarettes (commonly known as “eCigs”) by the world’s 1.2 Billion smokers. The company manufactures and retails the mCig® – the world’s most affordable vaporizer priced at only $10. Designed in the USA – the mCig® provides a superior smoking experience by heating plant material, waxes, and oils delivering a smoother inhalation experience. The company also owns Vapolution, Inc. which manufactures and retails home-use vaporizers such as the Vapolution 3.0. Through its wholly owned subsidiary, VitaCig, Inc. the company manufactures and retails the VitaCig®, a $5 nicotine-free eCig that delivers a water-vapor mixed with vitamins and natural flavors. See more at: http://www.mCig.org/, www.Vapolution.com, and www.VitaCig.org
The company believes that a well regulated marijuana industry is emerging as more states follow the lead of Washington and Colorado in legalizing marijuana. A similar trend is developing within the eCig industry following the first acquisition of an electronic cigarette brand (Blucigs) by a traditional tobacco company Lorillard Inc. for $135 million followed by another acquisition in February 2014 by Altria Group Inc. of Green Smoke for $150 million. Wells Fargo analyst Bonnie Herzog estimates that eCig sales may rise from $1 Billion in 2013 to $10 billion over the next three years.
mCig, Inc. (OTCQB:MCIG) has positioned itself as a first mover at the intersection of these two trends and hopes to create shareholder value by making the mCig® one of the leading choices for electronic consumption of plant material. – See more at: http://www.mcig.org/investors/investor-opportunity-subpage/
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company’s products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies.
CONTACT: Paul Rosenberg CEO 1(425)652-5946
Source: GlobeNewswire (October 6, 2014 – 9:35 AM EDT)