In recent times, the Limitless Venture Group Inc (OTCMKTS:LVGI) stock has traded within a narrow range. Limitless is a holding company and owns a range of businesses across several industries. The company is also engaged in acquiring new businesses in its quest to continuously expanding its product range. Here is a closer look at the company and what has been happening in recent days.
Although the Limitless stock has been trading within a narrow range, it is necessary to point out that the company’s operations have delivered impressive results. Towards the end of September, the company announced its financial results for the fiscal year 2020, which included the period starting from July 1 last year to June 30, 2020.
The revenues for the fiscal year 2020 managed to break previous records and it was wholly due to a single acquisition. Limitless acquired Rokin Inc on May 6 this year and the company’s revenues contributed wholly to the record-breaking performance.
However, things could get much better in Q1 2021 if the Chief Executive Officer of Limitless, Joseph Franccella, is to be believed. He stated that the revenues in the first quarter of 2021 are going to ‘blow’ away from the revenues of the fiscal year 2020.
He stated that due to the acquisition of KetoSports, the company is going to be able to post those numbers.
Considering the fact that the acquisition of Rokin proved to be the main reason behind this performance from Limitless, it is perhaps important for investors to take a closer look at the transaction.
Rokin is involved in the wholesale distribution of products and at the time of the acquisition, the company was supplying to as many as 348 resellers spread across as many as 33 states in the United States. Additionally, it also supports sales in overseas territories in Central America and Canada.
The Chief Financial Officer of Rokin, Larry Bauer, said at the time that after being acquired by Limitless Venture Group, it would be able to add new product lines to its offerings.
However, that is not all. The company also has an online sales channel and that supports sales to retail customers. Back in May, Rokin revealed that it sold products to retail customers spread across 47 states through its website. The performance of Limitless following the acquisition suggests that the decision has been vindicated so far.
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