OK-ONE LAST POST
May 7, 2014 - Limitless Venture Group Inc. (OTC Pink:LVGI)
Q&A: Mr. Joseph Francella, CEO
First and foremost, thank you for taking the time to participate in this Q&A session and allowing your shareholders to hear directly from you about some of the exciting things going on within the company today and in the upcoming months.
Q: Can you tell us a little about your professional background, how you became CEO of LVGI, a “development stage company” and your vision for the company?
A: For the past 20 years I’ve been involved in Executive Management of several different and diverse companies. Several of those were publicly traded, several were working on becoming publicly traded and most were development stage companies, I helped guide through the process. During that time I met Peter and advised him on some of his endeavors. When the CEO position opened up, he asked if I would entertain the idea. I threw my hat into the ring and the rest, as they say, is history. I see LVGI, initially, fully developing the products we’ve already spent years and hundreds of thousands of dollars on creating. We’ve already begun working on an additional line of products called HempCore, which incorporates the fantastic product Hemp, which is one of the hottest products on the market today. I see LVGI fully developing these lines, bringing them to the marketplace and generating revenues from them. Additionally, we are always open to acquiring companies and/or other products, which is what LVGI, “The Brand Developers” is all about, and then spinning them off to shareholders as an added value.
In a PR dated April 16, 2014, it was announced that LVGI had secured the funding for initial production of SLAM, re-engaging MANGO Bottling to discuss a bottling schedule. It has since been acknowledged that those discussions have been halted due to lack of execution on their part.
Q: Can you share with us the source of that funding and what the initial production expectations are?
A: We’ve secured the funding through private accredited investors for up to 5000 cases of initial production.
Q: Does LVGI have a new agreement in place, or are you in discussions with any other bottling companies? If so, when do you expect a final agreement to be announced and production to begin?
A: Yes, we are in discussions with another bottling company and an agreement has been drafted and is being reviewed at this time. Additionally, test bottling is set to begin shortly. We very strongly intend to stick to our original production and distribution schedule and have product available by July 4th as previously announced.
Q: How does the breakdown in discussions with MANGO affect the ability to get SLAM on shelves for July 4th weekend? Are we still on track to hit that target date?
A: As described in the previous answer, there is no adverse affects, and we are on schedule.
Q: Will SLAM be distributed nationally or will it only be available regionally? If regional, where will it be available and what are expectations for expanding its distribution?
A: We intend on distributing in the NY area first, for obvious reasons, then expanding to south Florida, Michigan, Vegas and California before a full national promotion begins.
Q: What type of promotional events/marketing campaigns can we expect from LVGI for the SLAM product line?
A: Similar to what has taken place in the past. Beach parties, night club events, liquor store demos, music festivals and anywhere people like to gather and have adult fun.
Q: Do you have a timeframe for the full launch of the www.getaslam.com website?
A: We are working very diligently on that also and hope to have it fully functional within the next 30 days.
One of the big success stories to come out of LVGI is the recent success of your spinoff company, GEAR and its product distribution thru The Vitamin Shoppes - perhaps one of the largest vitamin chains in the country.
Q: What has the success of GEAR done for LVGI and does LVGI receive any type of revenue from the sale, promotion or marketing of GEAR products?
A: GEAR has been our proving ground for our business model as “THE BRAND BUILDER”, to foster burgeoning concepts and bringing them to reality. The spinoff of GEAR has provided, as planned, all LVGI shareholders of record a “win-win” whereby they now not only own shares of LVGI but also of GEAR. The LVGI model works and will continue to work in that manner.
Q: What can you tell us about Limitless Body/Health and some of the other products that you offer today? Are these products available today and if not, can we expect to see these products on the shelf or available for purchase thru other sales outlets…such as internet sales?
A: Limitless Body products are designed, tested and ready for production. You can view them at www.alimitlessbody.com . From this line, the Gym Sani-T and Pure Sani-T products are available for sale on the website. The other products we look to launch in 1st Q 2015 after the SLAM and HEMPCORE product markets are fully developed.
One of the frequent comments I see from shareholders centers around current share structure.
Based on where LVGI is today and the many products and expected revenue streams, many feel the stock is undervalued –currently trading at around .003 cents. However, with 1.5 billion in the float, it may be difficult to significantly increase shareholder value organically.
Q: In order to increase shareholder value, are there currently any considerations for a share buyback, significant share cancellation or a reverse split?
A: All three are on table, as have been for some time now. We are currently reviewing some acquisitions that are revenue generating and any cap structure alterations will be based around terms of an acquisition, if indeed one is suitable and terms are agreeable. To that extent, please review OTC PINK ticker FITX, with 3.5 Billion shares outstanding and still trading in the 8-12 cent range. It’s a no name generic sports nutrition company and I believe we have a lot more to offer.
Final topic, and possibly the most exciting and most anticipated product line LVGI will have to offer is The HempCore Health (THC) Series of hemp based products. Today’s growing acceptance and changing laws around medical and recreational marijuana have opened up “limitless” opportunities so it’s no surprise that the Limitless Health division of LVGI has begun research and development of hemp based health products.
Q: What stage of the R&D process is LVGI at today and what can you share with us from a “current progress” standpoint?
A: Our Formulas for all of our initial products are 100% completed. Raw materials have been ordered for testing, to be followed by a sample production run and consumer testing in targeted markets. All shareholders will be able to request samples to be sent to them. We expect to have samples ready in 30 to 60 days.
Q: What types of products do you expect to have in the THC product line?
A: Our marketing team has identified the initial line of HempCore products to target: anxiety relief, heart/cholesterol health, joint pain relief, cognitive/brain function and fiber supplementation.
Q: Are there required licenses or regulations that LVGI must obtain or meet in order to proceed with the production of hemp based products? If so, have they been met?
A: HempCore products are considered dietary/nutritional supplements and therefore no licenses are currently required.
Q: Does LVGI have any intentions of entering any other areas of the marijuana industry in the foreseeable future?
A: Any and all markets are open and fair game for our business model.
Q: Are there any other active product or company “developments” in the pipeline that you can speak of ?
A: Not at this time. As I have previously mentioned, we are fully focused on getting our current products into production and onto the shelves for consumers to enjoy.
Final Words From Joe Francella – YOUR CEO:
First off, I want to thank all of the current shareholders for all your wonderful support and kind encouraging words, they are very much appreciated! Next, the whole LVGI team is full of very talented individuals and I am honored to be a part of it, and I thank them for their hard work and tireless efforts. Finally, we plan on bringing our products to their respective markets as quickly as practicably, locating new and exciting companies with other great products to either acquire or venture with and getting revenues generated so we have a positive cash flow to pursue always bigger and better opportunities. I hope I’ve answered all your questions to your satisfaction and look forward to a bright, successful and profitable future for all.
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 seemed 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.
