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Tuesday, November 29, 2022

Limitless Venture Group Inc (OTCMKTS: LVGI) Rockets Northbound After Co Announces It Will Expand the KetoSports Company

Limitless Venture Group Inc (OTCMKTS: LVGI) is making an explosive move up the charts over the past two days since recently reversing off $0.0015 lows. The stock is quickly attracting a fast-growing shareholder base and it’s trading some real volume topping 100 million shares traded on Thursday alone on just under $500,000 in dollar volume on the day. Big numbers for a stock that has a public float of around 113 million. It looks as if there is some short covering going on too; nobody expected it to run past Thursday. 

On November 10 LVGI announced it has signed an agreement with its senior secured lender to rebrand, remarket and expand the KetoSports company. The parties formed KetoSports Holdings LLC: KSH a new Delaware entity, in which LVGI holds a 51% interest with the remainder held by Leonite Capital. Leonite will invest the necessary capital to expand the management team and manage the day-to-day operations. Former KetoSports CEO Savitri Boodram Jones will be joining KSH as well to lend her vast experience and market knowledge to the new joint venture. 

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Limitless Venture Group Inc (OTCMKTS: LVGI) provides its shareholders with access to leading small and medium-sized businesses focused on growth. Leveraging its permanent capital base, disciplined long-term approach, and actionable expertise, LVGI owns controlling interests in its subsidiaries as it partners with management teams to build businesses with the capacity to unlock significant value for its shareholders. LVGI is Comprised of These Three Organizations 

Jasper Benefit Solutions, LLC (JBS), founded in 2018 with headquarters just outside Nashville, TN, is a Managing General Underwriter (MGU) specializing in risk management services for small to medium self-funded employer “Groups”. MGUs, unlike general agents within insurance industries, are certified to underwrite health and life benefits policies on behalf of their carrier-partners. Jasper’s niche is the unique ability and authorization from a well-known, nationally recognized insurance carrier to underwrite Groups as small as five (5) employees as well as offering limited benefit insured products for groups with part-time employees not able to participate in their health plans. 

Rokin, Inc. was founded in 2016 with a mission to provide our customers with the highest quality, technology-driven vaping products available while providing exceptional customer service. Rokin Vapes are rigorously tested by Rokin and multiple consumer focus groups to ensure the products meet strict quality standards before any production takes place. After a product is selected and production complete, the product is certified to the latest FCC, CE standards (which are required for all vaping products) but then Rokin goes above and beyond to certify our vaping products to the latest RoHS standard, which restricts the use of six hazardous materials commonly found in electronic products. 

Keto Sports products flush the body with ketones, raising blood ketone levels within a few minutes. Because the body and brain use ketones as its preferred energy source and are used first for energy demands, Keto Sports products are essential for anyone who wants to prolong energy reserves for their athletic events or for those who just want to benefit from carb-free, stimulant-free mental energy and enhanced acuity. 

The Company is led by CEO Joseph Francella who states on the Company website: “As the CEO of LVGI, I provide help with corporate funding (by working closely traditional funding methods or through private equity funding) as well as work closely with professional services firms such as lawyers and insolvency practitioners. I assist with post-merger- integration management. As a result of my experience as a Turnaround Specialist, I have become a one-stop-shop that has: 

  • Raised millions of dollars for public companies using debt and/or equity 
  • Assisted several of those companies to become publicly traded 
  • Managed Trading Markets through broker interactions, political networking, writing press releases and presiding over shareholder meetings. 
  • Created companies and subsidiary companies to carry out the objective of the parent company or incorporation visions. 
  • Consulted with many companies to increase their values. 

The Company’s COO is Devon Diaz, P.E., he is founder of JOOC Funding. Helping businesses package their concepts and present them to resources that can fund them. Founded, launched, and managed e-waste collection business; franchised 3 locations with annual revenue of over $1M. – Ease E-Waste, Inc. 

Mr. Diaz states on the Company’s website: “I have proven experience taking business concepts and developing strategic growth plans to help them achieve quantifiable results. As a startup consultant, I learned the lean startup techniques that are crucial to helping struggling businesses achieve maximum results with minimal resources.   Now that I am the COO of LVGI, I am using my years of knowledge and business acumen to find the right companies to acquire and to apply my skill set to help them achieve the audacious goals we set for each other.  

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LVGI

As stated above, on November 10 LVGI announced it has signed an agreement with its senior secured lender to rebrand, remarket and expand the KetoSports company. As consideration for tendering its assets to KSH, LVGI was granted the sum of $125,000, which was credited against its outstanding loan balance. Leonite was also granted an option to purchase up to 90% of KSH for an additional sum of $100,000. Leonite and LVGI are to receive 90% and 10% of operating profits from KSH respectively with the following exceptions: (i) LVGI will have priority on the first $50,000 in profits, (ii) Leonite will have priority on the next $450,000 in profits, and (ii) LVGI’s total profits from KSH are capped at $500,000. 

Joseph Francella, LVGI’s CEO, stated: “This is a great opportunity for LVGI, Leonite and KetoSports to create a very competitive company with market leading products. Our KetoSports products have been very well received in the marketplace and I’m excited to see Leonite get involved knowing the resources they bring to the table. I expect this to be a win-win-win!” 
Savitri Boodram Jones, CEO of Ketosports had this to say: “We have spent the last few years building out our products and developing a dedicated customer base. Our products are well regarded and sought after in the ever growing “Keto” market. With Leonite’s capital investment and involvement, and the continued support from LVGI, we think KSH is perfectly positioned to become a market leader in this category.” 

https://twitter.com/BerkshireCapGrp/status/1591086395438817283

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Currently trading at a $500k market valuation LVGI OS is 125,130,688 with around 113 million shares in the public float. The Company carries $6.5 million in liabilities and this has led to significant dilution in the past with the OS more than doubling over the past 12 months. While the Company is losing money, they do have growing revenues recently reporting $268,352 in revenues for the 3 months ended June 30, 2022 up from $260k for the prior quarter. For now, it looks like the selling has slowed significantly and there are a lot of buyers, the stock is priced very cheap and has come down significantly from the $0.25 highs it reached in early 2021. While many believed the current run wouldn’t make it past Thursday, LVGI has kept on going here and continues to trade significant volume compared to its float. We will be updating on LVGI when more details emerge so make sure you are subscribed to Microcapdaily.

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Disclosure: we hold no position in LVGI either long or short and we have not been compensated for this article.

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