Legends Business Group, Inc. (OTCMKTS:LGBS) Also Restyled as Marijuana Stock
Legends Business Group, Inc. (OTCMKTS:LGBS) was bought up with extreme caution in the past week, but as it made upward paces from the triple-zero position, finally buyers poured in. Thursday was an absolute record of shares loaded, as more than 350 million shares were mopped up in a day, for a total dollar volume of above $979,000. LGBS now stands at $0.002, after growing by 25%. 
We have not met this ticker in the past three years, as it took off briefly, but never managed to break through the penny levels. The only description of LGBS is that it is a company devoted to finding mergers and acquisitions in various businesses. And since LGBS is so flexible, it is no wonder it can state its ongoing negotiations with cannabis companies.
This is all it takes to take a ticker out of oblivion and into portfolios. Of course, we can’t know if the venture will pull through, but even the mention was enough to make the company shoot upward, with investors’ opinions greeting the more dynamic development.
As for development, we have limited information on how LGBS is doing financially, with self-reported results. The company has:
- Just $1,000 revenues until September 30th, 2013
- No expenses or other activity in the September 30th quarter of 2013
- $12,000 cash
It seems like the company is in total stagnation, and the only thing it has attempted is publicity now and then. But the marijuana story is a game changer, and has been for many underpriced shares already. So it is no surprise that investors, especially newcomers, may disregard the past with an eye for the future. Of course, the future promises of LGBS are right now much too vague- we still don’t know in what area of cannabis sales or industry extras LGBS would invest.
But this does not stop the company’s CEO Bill Schaefer from dropping the pot-bomb for its other pink sheet contender, Strategic Rare Earth Metals, Inc. (OTCMKTS:SREH). This sub-penny stock also picked up in activity and price range, as the corporate update mentioned it would re-focus its activity on the marijuana boom, instead of what was once a booming promise. Unfortunately, the trend for SREH seems to be already wilting. But it tells us something about the operational mode of Mr. Schaefer, as well as his seriousness about marijuana- at least when it comes to boosting the stock price.
At least other cheap OTC companies would hint that they may have a product that is useful to the marijuana sector- but in the case of SREH, it’s both a switch and a bait. In the case of MediaTechnics, Corp. (OTCMKTS:MEDT), the price is flagging toward $0.0022, but at least the company suggested it may supply LED lights to growers, a clearly formulated idea.
But if you like LGBS for its pure potential, it is best to do your own research to decide if there are no better alternatives, as in the past weeks double-zero priced stocks of differing quality poured on the OTC markets. Many promised a new direction into marijuana businesses, but only a few have some potential to fulfill that promise.
