SEATTLE--(BUSINESS WIRE)--Next Level Ventures (dba: Advanced Vapor Devices, AVD) announces that an international tribunal has awarded substantial monetary damages and other material relief against AVID Holdings following repeated instances of wrongful conduct by AVD’s former business associate, Jonathan “JC” Carfield, CEO of AVID Holdings.
After repeated breaches of contractual obligations by Carfield’s company AVID Holdings, AVD initiated arbitration proceedings in 2021. The International Centre for Dispute Resolution of the American Arbitration Association issued a binding Final Award in which it concluded that Carfield had caused AVID Holdings to commit numerous breaches of its agreement with AVD.
The arbitrator ruled unequivocally in favor of AVD on all issues, awarding AVD substantial monetary damages and other material relief, including confirming AVD’s exclusive rights to (i) the use of AVD and related trademarks and to (ii) manufacture, market, and distribute all AVD and related products.
Despite the ruling, Carfield’s company, AVID Holdings, remains in breach and continues to accrue debt. Its attempts to offer AVD and similar products to the market, whether through spin-off affiliates, alternative distribution partnerships, or other means, is a violation of the arbitration award and a wrongful attempt to undermine AVD through unfair and unlawful means.
AVD takes these actions seriously and will enforce its rights in the US and under international law against AVID Holdings, Carfield, and anyone who acts in concert with them.
“Since 2018, we have developed the AVD brand into a globally acknowledged leader in the cannabis vaporization market, combining decades of plant-touching experience with industry-leading manufacturing practices,” Alex Kwon, CEO of AVD, said. “We are humbled by the market’s response, including 11 prestigious Emerald Cup awards won by our Client Partners using AVD hardware in the last two years alone.
“Based on our history and deep roots in cannabis, we continue to innovate, developing the next generation of heating and vaporization technology designed specifically for our industry. Our commitment is stronger than ever. Reliability, client service, performance, and consumer safety remain the cornerstones of our company,” concluded Mr. Kwon.
About AVD
AVD is a leading vaporizer technology company. Recognized for best-in-class hardware designed exclusively for the cannabis extract industry. Based on decades of knowledge of the plant, we provide solutions to our client partners through our deep understanding of the nuanced interplay between the extraction method, formulation, absorption, heating, and vaporization delivery.
AVD complies with HAACP, cGMP 820, and 110 standards and is ISO 9001, 14001, 13485, and 45001 certified.
Oil-touching parts are non-toxic, and cartridges comply with stringent heavy-metal regulations. We control our entire supply chain - sourcing and using only the highest quality and safest materials available. Products pass through strict quality control and safety assurance protocols at various stages of the manufacturing process.
AVD is a partner of choice for leading oil brands and is known for producing reliable products that do not easily leak or break. Advanced technology and design, built around AVD’s proprietary ceramic core, deliver true-to-the-strain flavors providing a premium user experience.
For more information, please visit www.avd710.com.
Contacts
For any questions, please contact:
Michael Brosgart
Chief Operating Officer
Advanced Vapor Devices
michael@avdpro.com