CO2 smokeMantra Venture Group Ltd. (OTCBB: MVTG, MVTG message board) is a small development stage company with a market cap as low as $9.33 million. The company seeks to "develop a series of businesses in the sector of environmental sustainability that offer a range of products and services to mitigate the negative environmental and health consequences arising from the production of energy and consumption of resources." This sounds like a mystical activity indeed. To put it in a simple way - Mantra plans to address climate change concerns, promote alternative energy solutions, and engage in the reduction of greenhouse gas emission.

The company has recently announced the publication of new research paper on Electro Reduction of Carbon Dioxide technology. However, currently they don't have this technology ready for testing. The company has not generated any revenue since inception in January 2007 and has only $73.5 thousand in cash according to their latest SEC filing. Mantras expenditures extend to $723.4 thousand per quarter. The company is in dire need of additional funding which thus far appears to have been acquired through the issuance of common stock.

The only bright thing about this company was their latest announcement on April 23, 2008, regarding the plans to establish a new research and development facility in Vancouver. The company operates in cooperation with Kemetco Research Inc. - a private technology and innovation company. According to the announcement both companies have already identified budget for the first year of operations at the lab. The lab will be dedicated for the research of Electro Reduction of Carbon Dioxide technology which "already had tremendous interest from potential licensors and partners", according to President and CEO of Mantra, Larry Kristof.

Mantra has been registered as a public company on October 18, 2007. The stock has been on a downtrend since less than a month after the initial public offering. The company has also been late with their first quarterly SEC filing. Their stock is thinly traded and it appears the company goes along with spam promoting their stock as we received some in our own forums .

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On February 21, 2008 Mantra filed the form for Unregistered Sale of Equity Securities. The company has entered into consulting agreement with Metradon Ventures Ltd. The latter agreed to provide Mantra with business development and technology acquisition consulting services in South East Asia, Hong Kong, and China. For these services Mantra granted to Metradon 600,000 restricted common shares and 600,000 warrants that allow purchasing 1 common share each at the price of $0.5 per share. The execution of these warrants as well and sale of restricted shares can result in at least 6% dilution to current shareholders. Also the company has agreed to issue even more shares in the event of revenue generation or acquisition of patented technology.

It seems the company tries very hard to get noticed. John Russell, Vice President of Technology of Mantra Venture has decided to keep the investment community updated through his personal profile on My.WallSt.net. In his profile J. Russell plans to include his own exclusive interviews, company blogs, his personal stock watchlist, photos of company products and links to recent press. Through this profile he is also ready to communicate with interested stockholders. Hotstocked has also created a page where you can leave a comment and share your opinion regarding Mr. Russell.

The company targets as many as 10 different projects at the same time. With limited funding and no current tangible achievements on these projects, Mantra appears to be quite a venture stock.