Borislav Tonev

Limitless Venture Group Inc (OTCMKTS:LVGI) Resurfaces

by Borislav Tonev March 14, 2016

Limitless Venture Group Inc (OTCMKTS:LVGI, LVGI message board) hasn't issued any press releases in over eight and a half months, and the PR's that did come out before the company went quiet aren't terribly convincing. In March 2015, for example, LVGI said that the government approvals for its SLAM line of ready-to-drink cocktails have been given and it announced that an update on the production timeline will follow shortly. Right now, almost a year later, there's still no such update.

The company did start generating revenues from its HempCore Health products in June 2015, but the statement recorded at the end of last year shows that sales are not exactly booming. Here's a summary of the figures:

  • cash: $23
  • current assets: $9,030
  • current liabilities: $1,824,502
  • six-month revenue: $2,183
  • six-month net loss: $8,873

Basically, logic dictates that LVGI should remain firmly in obscurity. Yet, it's not doing that. Instead, on Friday, it managed to shift nearly 320 million shares and after a 63% jump, it stopped at $0.0005 per share.

The only possible explanation for the volume spike and the gains lies with the tonnes of speculation around the message boards according to which news is about to come out of LVGI's headquarters in the coming days. On Saturday, the company said through one of its Twitter profiles that there are no updates at the moment, but despite this, people are still excited and about forty minutes into today's session, the ticker is a further 2% up.

If, for some reason, the tweet is wrong and news does hit the wire over the following days, the surge could be extended. Investors shouldn't bet too much on the rumors around the internet forums, though.

What they should do instead is have a good look through the latest report. Once they do, they'll find out that last year, between April 9 and July 27, LVGI converted $340 thousand worth of debt into more than 1.2 billion shares which brings the average conversion rate down to $0.00028 per share. We probably don't need to tell you what could happen if these shares hit the open market.

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