Rokin Inc. (Rokin Vapes), a Majority Owned Subsidiary of Limitless Venture Group Inc. (LVGI) Reports Record Revenues for 2021; LVGI Signs LOI with Devmercs to Begin Metaverse Development
TULSA, OK / ACCESSWIRE / January 26, 2022 / Limitless Venture Group, Inc. (OTC PINK:LVGI) ("LVGI" or the "Company"), 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 is pleased to announce today that Rokin, Inc posted a whopping 129% sales increase in 2021. Rokin's sales totaled $1,353,569 in 2021 compared to sales of $590,805 in 2020. This increase and total revenue numbers represents the highest sales volume in Rokin's six-year history and will surely lead to LVGI's best year ever when those numbers are finalized.
"Rokin has continued to work hard to increase sales and product offerings. Solid performing products like the Mini Tank continue to generate significant revenue. Furthermore, new products such as the Stinger, a revolutionary electronic dab straw, also attracted a strong consumer following in 2021. In 2022 we will continue to introduce new desirable products including a dry herb device as well several accessories for which our customers have expressed a strong demand," said Daryl Bauer, CEO Rokin.
Joseph Francella CEO states, "I am pleased and proud of Rokin's management on achieving these great revenue numbers, they are working long hours and diligently to make things happen. With continued financing from LVGI we anticipate Rokin 2022 revenues to double 2021s' reaching over 2.6 million dollars." He also states, " Then there is LVGI'S entrance into the Metaverse. We plan to be fully immersed in the Metaverse this year and for the future of LVGI.
LVGI is pleased to announce that it signed a Letter of Intent (LOI) with Devmercs, LLC., to create applications for use in the Metaverse. Devmercs, LLC., (https://devmercs.com) is a software development firm, located in San Antonio, TX, specializing in third party development with everything from shopify websites and SAP based enterprise solutions to mobile applications, where they recently created a street racing metaverse game called Bwaaap (https://bwaaap.com). The LOI defines a time schedule for both parties to create a joint venture company with the purpose of investigating and developing strategies to create applications in the #metaverse, by the end of May, 2022.
"We are excited to be taking our first step forward into the Metaverse ''. exclaims Devon Diaz, COO of Limitless Venture Group, Inc., "The metaverse is a greenfield with plenty of opportunities to develop everything from objects, games and meeting places, to shopping, education and entertainment. Initially, the team at Devmercs will be working with LVGI to research the best entry point into the metaverse and build a project plan to ensure that the team will have a successful product launch with good revenue potential. I have full confidence in David Smith, CEO of Devmercs and his team, that they will be able to create a strong company with high integrity and creativity, and will be a serious player in the meta."
Devmercs, LLC., is thrilled to be working with LVGI to create a joint venture company specializing on development in the metaverse. There are so many places to enter into the meta that it gives our team options to choose from, and past experience has shown me that having options is a good thing when it comes to successful application development. Our team of skilled developers and top notch creatives are ready to roll up our sleeves to begin building in the next generation of social interaction." states David Smith, CEO of Devmercs.
Medical Cannabis Grow Acquisition Update:
Back in early December 2021, LVGI signed an exclusive 60 day LOI to acquire 100% of an Oklahoma medical cannabis grow operation. After extensive due diligence, research and business planning, we have determined that this particular business will most likely not be a good fit for LVGI and its shareholders. Although the facility does have the potential to grow up to 1,200 pounds per year of indoor grown medical cannabis, the estimated investment that will be required for it to reach that potential shows an insufficient ROI within the next three years to make it worth the effort at this point in time. However, LVGI has been interviewing with at least 3 other major medical cannabis grow facilities in Oklahoma and will continue to seriously discuss potential partnerships or acquisitions for those we feel have the best opportunity for success.
"After researching the facility, its products, the market opportunity, future revenue projections and barriers to entry, and having our institutional investors fly up to Oklahoma and view the facility who then gave us the green light to purchase the business if we so decided, I was disappointed that our conclusions were not in line with LVGI's vision of working with this medical cannabis grow facility that can produce immediate revenues with bigger growth potential. That being said, after speaking with multiple other grow facilities, I feel there is a good deal out there, we just need to keep looking for the one that is a win/win for LVGI, its grow partners, and our shareholders." states Joseph Francella, CEO of LVGI.
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: Rokin, Inc., KetoSports, Inc. and Jasper Benefit Solutions, LLC.
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.
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
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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.
SOURCE: Limitless Venture Group