Limitless Changes to December 31 Fiscal Year End Expects to Report Record Revenues
Limitless Venture Group, Inc. (OTC PINK:LVGI) announced a change in its fiscal year-end from June 30 to December 31. This change aligns with its subsidiaries' fiscal years, which is expected to streamline financial reporting. The Company anticipates reporting record revenues exceeding $211,000 for the fourth quarter ending December 31, 2020. CEO Joseph Francella indicated that Rokin, Inc.'s product sales are driving this revenue growth, while future contributions are expected from Jasper Benefit Solutions and KetoSports.
- Anticipates record revenues exceeding $211,000 for Q4 2020.
- Alignment of fiscal year-end with subsidiaries may enhance reporting clarity and performance evaluation.
- Rokin's product sales are the primary drivers of revenue growth.
- None.
TULSA, OK / ACCESSWIRE / February 18, 2021 / Limitless Venture Group, Inc. (OTC PINK:LVGI), 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, today reported that the Company has changed is fiscal year end to December 31 from June 30. The Company expects in March 2021 to report its results for the year and fourth quarter ended December 31, 2020. The Company anticipates reporting record revenues that will exceed the
Commenting on the change in fiscal year end, Joseph Francella, the Company's Chief Executive Officer, said "With our acquisitions of majority interests in Jasper Benefit Solutions, LLC in November 2020, KetoSports, Inc. in August 2020 and Rokin Inc. in May 2020, all of which have December 31 fiscal years, we determined that now is ideal time to align all of our financial reporting to a December 31 fiscal year."
"Sales of Rokin's products are the primary driver for our revenue growth to record levels, with Rokin's line of vape batteries leading the way. We look forward to KetoSports and Jasper delivering revenue growth that further enhances our overall financial performance and builds value for our shareholders."
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: Jasper Benefit Solutions, LLC, Rokin, Inc., and KetoSports, Inc.
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
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.
www.ketosports.com
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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.
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SOURCE: Limitless Venture Group, Inc.
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FAQ
What are the expected revenues for Limitless Venture Group (LVGI) in Q4 2020?
Why did Limitless Venture Group change its fiscal year end?
What impact will Rokin's products have on LVGI's revenues?
