This entire endless video summarized: It is Zen (Mike Morgan) talking about the closing of ProVape. The summary below encapsulates his rambling video talk and presents opinions and facts, which may or may not be 100% correct, but are an accurate summary of what Zen says here (over 2 hours to listen to, which I just couldn't deal with, everything below is said within the first 15 minutes):
ProVari (the company) was for sale, for over a year. They knew they were going to sell it or shut it down for quite a while.
Zen tried to arrange financing to buy it, and simply cease all sales within the US, because the worldwide market would still carry it. This did not work out.
They (David and Phil, the founders of ProVape) ultimately shut it down because... they're just sick and tired of running it and being in the vape business and the concept of dealing with the vape industry under the FDA. Also, ProVape got sued and settled. It freaked them out and made them realize they have a lot to lose. Your ability to sue a company in China = nonexistent.
The bottom line for the founders (David and Phil) amounts to: they had a good run. Both founders are under 50. Both founders are worth many millions of dollars. Both founders have retired. Pretty much, they lived out the American Dream®. Yes their costs were higher due to being in the US, yes they gave money to charities, yes they were a good company to work for, but yes, they sure had big margins and made money on their products
And they sold 450,000+ of those products
If Trump gets rid of the insane FDA regs tomorrow, ProVape is still not going to be coming back. They have sold their building (which they owned), all of their equipment (which they owned), and much of their intellectual property. Staff who knew what was happening and quit to find other jobs over the past year+ were not replaced. There is basically nothing and nobody left to "rise from the ashes" and restart ProVape. It's done. ProVari is now officially a piece of Vape History/Americana.
To reiterate, this is not an official statement by the founders of ProVape, it's Zen (Mike Morgan) saying all this.