Limitless Venture Group, Inc. (OTCMKTS:LVGI) Pump Exposed, Price Crashes
Just when the web was buzzing with positive opinions about Limitless Venture Group, Inc. (OTCMKTS:LVGI), the time came to show that the current climbing trend is not at all limitless. LVGI crashed by 43% on Thursday, reaching $0.0053, as selling volumes expanded to match the buying of the past days, reaching $5.76 million. 
LVGI, seen in the longer term, remains practically flat, though in the new year it saw several spikes in buying volumes. The last of those spikes also produced a more significant price gain. Unfortunately for LVGI, until now each of those positive periods was followed by depressing trading as the price returned to lower positions and volumes thinned out again. Otherwise, LVGI offers only limited information on its financial performance, and is used only as a short-term gainer, a risky pink sheet bet.
The last time LVGI awoke was in the fall of 2013. Now, the reason behind the climb is a fresh promotional campaign, as the ticker was boosted by three emails this month. The small campaign was done for free, as a way to ride the general momentum of heightened activity.
Penny Stock Dream touted LVGI mostly for its general upward drive, boosted by a recent letter from the CEO outlining the future of the rather diverse company. LVGI manages brands of innovative products, and thus its activities look rather diverse. But the new CEO Joseph Francella focused mostly on the company tightening up its structure by retiring shares.
Unfortunately, LVGI still has 1.5 billion shares in float, with a further 2.5 billion shares authorized- and despite the dramatic spike in the last days, LVGI is still quite close to the triple-zero bottom. And for all its activities, LVGI only has to show:
- $4,000 cash
- $178,000 total assets
- $1.4 million total current liabilities
- No revenues
- $10 million annual net loss
Other pink sheet companies have managed to rile up more debt and losses, but LVGI managed to compensate by its immense stock dilution. So while the market cap of above $8 million looks small in comparison to other OTC companies, LVGI will most probably fizzle out, weighted by the flood of shares.
We will be tracking LVGI for more exuberant days which may attract new investors to this risky selection. In a way, the enthusiasm around LVGI looks like that of 3D Eye Solutions, Inc. (OTCMKTS:TDEY), a ticker which through well-managed promotions and PR even made a significant upward trend. After a serious fall from $0.016, TDEY still has separate days of buying frenzy, but is at risk of being depressed further, with a current price around $0.001.
For now, the LVGI group has not given indications that it could switch to medical marijuana, doing what was immensely profitable for other penny stocks. Rapid Fire Marketing, Inc. (OTCMKTS:RFMK) clearly reaps the benefit, growing 10 times from its triple-zero positions, to a current price of $0.0057.
If you are expecting further updates from the company, be aware that the PR does not guarantee constant and stable gains without days in the red. Plan to curb your losses by adjusting timing and size of investment.
