TULSA, OK / ACCESSWIRE / January 11 , 2022 / Limitless Venture Group, Inc. (OTC PINK:LVGI) ('LVGI' or the 'Company'), a publicly traded holding company that provides its shareholders with access to investment opportunities in small and medium-sized businesses uniquely positioned for rapid growth is pleased to report the best revenue year in the history of LVGI and update shareholders on what's ahead for 2022 and beyond.
The final numbers are still being compiled by our accountant but preliminary results are showing 2021 annual revenues of around $1.5 million dollars, smashing all previous yearly revenues. Even with those fantastic numbers the company plans on major expansions in 2022. LVGI is still focused on expanding its holdings in the health and wellness industries through acquisitions of companies that we feel are complementary to our vision and have significant growth opportunities. There has been a major shift in the health industry recently with a focus towards Hemp, Cannabis, CDB and its multiple cannabinoids, and THC compounds. A total of 36 states, including the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands have already approved comprehensive, publicly available medical marijuana/cannabis programs. Hemp and CBD and its multiple compounds, excluding Delta 8, can be shipped and transported over state lines as they are Federally legal, while THC and cannabis products must remain within the state they are grown. These factors greatly expand the type of companies that are now on LVGI's radar as possible acquisition and/or Joint Venture partners. CBD sales in the U.S. hit $4.6 billion in 2020, a massive number just two years after hemp-derived cannabinoids were federally legalized. This growth is only expected to accelerate, with two notable forecasts projecting a U.S. market of $15 billion by 2025, and the legal cannabis market is expected to reach $43 Billion by 2025, according to Forbes Magazine. LVGI has been involved in these markets in the past, has subsidiaries in them and expects future expansion to include them and then there is the Metaverse.
'We have just completed the best fiscal year in the history of LVGI and I am both ecstatic for that and excited to look forward to 2022, as I know this is just the beginning!' States Joseph Francella, CEO. 'We have a continued acknowledgement from our institutional investors to fund our growing expansion both through our existing subsidiaries and through new and exciting acquisition opportunities. With the consolidation of the Medical Marijuana industry in Oklahoma now underway we are seeing many opportunities to refocus on this market. There are many factors that we feel will help the businesses that make it through this consolidation such as the government considering limiting the number of licenses per sector, requiring those with licenses to actually open up businesses and most importantly the state opening up to recreational use. We've already started researching this market and have an LOI with a grow facility, which we are currently working through our due diligence. Also, we plan on following through with one of our original plans to become a fully vertically integrated cannabis company with subsidiaries in the grow, processing, dispensary, testing laboratory and ancillary products industries. We especially see the opportunities in Oklahoma as consolidation is underway and there are many available companies that can produce immediate cash flows and short term ROI's'.
Although we want to make sure we are focused on what we can accomplish in the near future, 2022 is the year of the Metaverse and we at LVGI are already in discussions with Devmercs, a San Antonio based tech and development company (https://devmercs.com), to explore options in this emerging market. Devmercs, specializes in third party development with everything from shopify websites and SAP based enterprise solutions to mobile applications, where they recently created a street racing metaverse game called Bwaaap (https://bwaaap.com). We will be working with Devmercs to chart a road map on how LVGI can become a leader in supporting metaverse application development.
'The metaverse is a new world that we do not want LVGI to miss out on being a part of it.' says Devon Diaz, COO. 'I remember 2008, when a good friend of mine told me I should start looking into application development for the iPhone and I just looked past him. I learned a big lesson from that experience and as such, I feel strongly that LVGI should be prepared to take advantage of metaverse development in its infancy as this is a green pasture and the possibilities are endless. David Smith, CEO of Devmercs and I have a long history working together and I couldn't think of anyone better, and more qualified to help lead LVGI into the metaverse.'
'Working with LVGI to come up with the right metaverse applications is going to provide Devmercs an excellent opportunity to launch into a new world; literally. Having been working associates with Devon Diaz and Joseph Francella in the past, I am very familiar with LVGI and its capabilities and look forward to helping create a vision for the future of LVGI and Devmercs.' Remarked David Smith, CEO of Devmercs.
About Limitless Venture Group, Inc.
Limitless Venture Group 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.
For more information, please visit: www.lvginc.com.
The Company currently has three primary subsidiaries: Rokin, Inc., KetoSports, Inc. and Jasper Benefit Solutions, LLC.
About Rokin, Inc.
Rokin 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. www.rokinvapes.com
About KetoSports, Inc.
KetoSports 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, KetoSports 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.
About Jasper Benefit Solutions, LLC
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. www.jasperbenefitsolutions.com
Follow us on Social Media at:
Disclaimer Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts, including, without limitation, statements that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development, may be deemed to be forward-looking statements. Words such as 'expects,' 'intends,' 'plans,' 'may,' 'could,' 'should,' 'anticipates,' 'likely,' 'believes' and words of similar import also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analysis and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of the release. Except as may be required under applicable law, we assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
SOURCE: Limitless Venture Group
View source version on accesswire.com: