Anastas Gegov

Limitless Venture Group Inc (OTCMKTS:LVGI) Takes A Step Back

by Anastas Gegov June 1, 2015

Lately we have seen the stock of Limitless Venture Group Inc (OTCMKTS:LVGI, LVGI message board) make an impressive run after nearly hitting rock bottom. The stock had been stuck trading at $0.0003 for some time before it embarked on an upward run that led it into double zero land.

 

The most interesting thing about the impressive trek up the charts was that it was fueled by nothing apparent. There were no promotional emails or press releases. There is, however, quite some chatter on investor forums. People are talking about the HempCore Health product brand being sold, but there is no actual PR concerning that yet.

 

Meanwhile, the financials of LVGI remain as dreadful as ever. Here are just some of the numbers contained in the balance sheet for the period ended March 31.

 

  • cash: $19 thousand
  • current assets: $24 thousand
  • current liabilities: $1.9 million
  • revenues: ZERO
  • quarterly net loss: $125 thousand

 

As we saw LVGI begin to hesitate towards the end of last week a little reminder of these numbers was enough to cause a serious correction. On Friday we saw the ticker lose 33.33% of its value and close at $0.0008, dropping into triple zero land once again. A hefty 115.71 million shares changed their owners, but managed to generate only $97 thousand in daily dollar volume.

 

Although investors are hyping themselves up on message boards we can still see LVGI drop even further considering the lack of press releases. Doing your due diligence and weighing out the risks before putting any money on the line is absolutely crucial.

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