secwatch.observer — SEC 8-K summary
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Issuer:     VPR Brands, LP. (VPRB)
CIK:        0001376231
Form:       8-K
Filed at:   2023-03-01T23:59:59+00:00
Accession:  0001213900-23-016253
Event type: other_material
Sentiment:  positive
Materiality: 0.40
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

VPR Brands receives $500,000 prepaid royalty from licensee Elf Brand LLC
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- Elf Brand LLC prepaid a $500,000 monthly royalty on March 1, 2023 under a License Agreement dated Jan 2, 2023.
- License grants exclusive use of trademark 'ELF' (U.S. Reg. 5,486,616) and non-exclusive use of patent 8,205,622 for e-cigarette products.
- Royalty is 5% of gross sales; exclusivity requires minimum $500,000 monthly royalty within six months of sales start.
- Company may cancel exclusivity if minimum royalty expectations are not met.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1376231/000121390023016253/0001213900-23-016253-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1376231/000121390023016253/ea174440-8k_vprbrands.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-016253

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer