$VGID News - New Venture Progressing Ahead of Sche
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Posted On: 05/09/2017 10:06:26 AM
$VGID News - New Venture Progressing Ahead of Schedule
2017-05-09 09:47 ET - News Release
CARLSBAD, CA / ACCESSWIRE / May 9, 2017 / V Group, Inc. (OTC PINK: VGID) is excited to release details pertaining to its exciting new CBD beverage venture.
The Company, along with its partner, Michael Boris has officially birthed a new entity. This new entity now has a Corporate name of Leaf of Faith.
Leaf of Faith, a subsidiary of V Group, Inc. has been formed to create the best in CBD and THC beverages. As reported in previous announcements, the first product in the portfolio for Leaf of Faith will be a CBD beverage called Patience. Patience will be initially offered in 2 unique flavors with colorful comic- like labels that will appeal to a broad audience. More flavors are scheduled for later in the year. The initial production run of Patience is scheduled to be produced and sold by the end of May at an industry event in Southern California.
The product, offered in a proprietary 16 oz. bottle will retail between $4.00 and $5.00 per unit. The Company is preparing to sell 5,000 units in the product's debut. The Company is expecting to generate $20,000.00 to $25,000.00 in revenue in the initial launch. The profit margin is expected to be roughly 45% allowing for rapid growth and expansion. The products will be sold at live events exclusively at first. This will allow The Company to control sales of the products, selling directly to the consumer (increasing profit margin), establish a strong following and create solid revenue before retaining third party distribution. It is the belief that Patience and Leaf of Faith will quickly become the leader in the category and will be well positioned when the category becomes main-stream.
V Group, Inc. and its shareholders will own and control 55% of Leaf of Faith and Mr. Boris's group will control 25% of the initial equity. There will be 20% of the equity that will remain unassigned and in reserve for future acquisitions. Leaf of Faith will be actively searching to acquire a CBD and THC edible company with revenue and distribution for the purpose of rounding out the portfolio of the new entity.
All financial reports, which will be included on V Groups quarterly reports, will be audited. As indicated by the Company previously, it is the purpose of all parties to position Leaf of Faith for a spin-off IPO in the second quarter of 2018. V Group, Inc. has not yet determined a date of record for shareholders to participate in the Leaf of Faith IPO. This will be determined and announced at a later date. V Group, Inc. is continuing to work on other incubation projects and will be announcing progress as warranted.
V Group, Inc. would also like to announce that the first quarter financial report will be completed and will be posted on OTC Markets on or before May 15, 2017. Although the Company was expecting a slight dip in revenue due to a slowdown in distribution, the Company is proud to announce that revenues remained stronger than expected and increased year over year.
More information will be released to the public, with the intention of keeping shareholders informed as soon as it is available. The management of V Group, Inc. would like to thank its shareholders, partners, vendors and customers.
Contact: info@anddrinks.com
Website: www.anddrinks.com
Phone: (760) 613-8828
SOURCE: V Group, Inc.
2017-05-09 09:47 ET - News Release
CARLSBAD, CA / ACCESSWIRE / May 9, 2017 / V Group, Inc. (OTC PINK: VGID) is excited to release details pertaining to its exciting new CBD beverage venture.
The Company, along with its partner, Michael Boris has officially birthed a new entity. This new entity now has a Corporate name of Leaf of Faith.
Leaf of Faith, a subsidiary of V Group, Inc. has been formed to create the best in CBD and THC beverages. As reported in previous announcements, the first product in the portfolio for Leaf of Faith will be a CBD beverage called Patience. Patience will be initially offered in 2 unique flavors with colorful comic- like labels that will appeal to a broad audience. More flavors are scheduled for later in the year. The initial production run of Patience is scheduled to be produced and sold by the end of May at an industry event in Southern California.
The product, offered in a proprietary 16 oz. bottle will retail between $4.00 and $5.00 per unit. The Company is preparing to sell 5,000 units in the product's debut. The Company is expecting to generate $20,000.00 to $25,000.00 in revenue in the initial launch. The profit margin is expected to be roughly 45% allowing for rapid growth and expansion. The products will be sold at live events exclusively at first. This will allow The Company to control sales of the products, selling directly to the consumer (increasing profit margin), establish a strong following and create solid revenue before retaining third party distribution. It is the belief that Patience and Leaf of Faith will quickly become the leader in the category and will be well positioned when the category becomes main-stream.
V Group, Inc. and its shareholders will own and control 55% of Leaf of Faith and Mr. Boris's group will control 25% of the initial equity. There will be 20% of the equity that will remain unassigned and in reserve for future acquisitions. Leaf of Faith will be actively searching to acquire a CBD and THC edible company with revenue and distribution for the purpose of rounding out the portfolio of the new entity.
All financial reports, which will be included on V Groups quarterly reports, will be audited. As indicated by the Company previously, it is the purpose of all parties to position Leaf of Faith for a spin-off IPO in the second quarter of 2018. V Group, Inc. has not yet determined a date of record for shareholders to participate in the Leaf of Faith IPO. This will be determined and announced at a later date. V Group, Inc. is continuing to work on other incubation projects and will be announcing progress as warranted.
V Group, Inc. would also like to announce that the first quarter financial report will be completed and will be posted on OTC Markets on or before May 15, 2017. Although the Company was expecting a slight dip in revenue due to a slowdown in distribution, the Company is proud to announce that revenues remained stronger than expected and increased year over year.
More information will be released to the public, with the intention of keeping shareholders informed as soon as it is available. The management of V Group, Inc. would like to thank its shareholders, partners, vendors and customers.
Contact: info@anddrinks.com
Website: www.anddrinks.com
Phone: (760) 613-8828
SOURCE: V Group, Inc.
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