Limitless Venture Group, Inc. Completes Acquisition of Jasper Benefit Solutions LLC, MGU, Enters $ 250 Billion MGU / TPA Industry
Scott P. Arroyo
5 min read
TULSA, OK / ACCESSWIRE / December 1, 2020 / (OTC PINK: LVGI) Limitless Venture Group, Inc. (“LVGI†or “the Companyâ€) today announced that it has acquired the controlling interest in Jasper Benefit Solutions LLC, an MGU, through a capitalization agreement and capitalization.
Jasper Benefit Solutions, LLC. (JBS), founded in 2018 with headquarters just outside of Nashville, TN, is a general insurance insurer (MGU) specializing in risk management services for small and medium sized self-funded employers “Groups”. MGUs, unlike general agents in the insurance industries, are certified to underwrite health and life insurance policies on behalf of their partner carriers. Jasper’s niche is the unique ability and authority of a well-known and nationally recognized insurer to underwrite groups as small as five (5) employees as well as to offer limited benefit insured products for individuals. groups with part-time employees who cannot participate in their health plans. “I am impressed with Jasper’s positioning in the small and medium-sized group market which presents significant opportunities as it is largely underserved but valued at over $ 30 billion in the Mid-Atlantic region of the United States alone.” said Jason Bennett, Deal Flow Advisor and CEO of Unna, a modern population health platform and partner of LVGI, also adding: “This strategic partnership in support of Jasper’s vision and growth means not only is LVGI’s commitment to positive change in employer-sponsored benefits, but to establish a footprint in a growing market ripe for disruption. “
“These are exciting times, and I am very grateful to have partners who are able to help us expand our ability to deliver solutions to what we see as an underserved market. LVGI’s technological expertise and vision and of their family of companies will benefit the market and all of our partners. ” Says Kathy Scira, CEO of Jasper, who has 30 years of experience in this industry and has built a management team with 75 years of combined experience.
Devon Diaz, COO of LVGI, said: “This is a major acquisition for LVGI. Jasper becomes the cornerstone of our entry into the field of employer sponsored benefits. Although at an early stage, we invest in Jasper because we believe in their value proposition, experienced team and potential for growth. We expect to have positive cash flow in eleven (11) months and to exceed one million dollars ($ 1,000,000) in revenue in the first five (5) quarters. This trajectory will continue as Jasper grows to M business volume representing $ 3.6 million in gross revenue within three to four years. “
Joseph Francella, CEO, said “I am delighted to welcome Jasper to our LVGI family of companies! Equity is a solid model and guarantees capital reserves to continue the expansion of all our LVGI companies. the first year. Our three-year projection will be a business volume of $ 30 million generating over $ 3 million per year. In addition, we have the ability to fund the expansion of Jasper through our existing $ 750,000 convertible note and our qualified A recording offer. In addition, I have had discussions with our ticket holder on this matter and on the next round of funding for our expansion in this industry, which we expect to be around $ 5.5 million. rs over the next 36 months and could generate $ 55 million in annual revenue by that time. We have BIG plans for this small business and with the funds available there is no reason we should not be successful. “
Other news from LVGI: Our accountant worked with the accountant and the management team of KetoSports to understand what has happened financially since their inception and to align their books with ours for reporting and auditing purposes. It took a little longer than expected but will be finished shortly. Once completed, we can complete our first quarterly report and file it with OTC Markets to remove the yield sign. Additionally, look for the new KetoSports product labels and website before the end of this year.
About Limitless Venture Group, Inc.
Limitless Venture Group, Inc. (“we”, “our”, “our”, the “Company“, “LVGI” and “Limitless”) provides its shareholders with access to growth-oriented small and medium-sized businesses. Leveraging its permanent capital base, disciplined long-term approach and actionable expertise, LVGI owns majority stakes in our subsidiaries and partners with their management teams to create businesses that can generate significant value for people. shareholders.
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 is rigorously tested by Rokin and several consumer focus groups to ensure products meet strict quality standards before production. Once a product is selected and production is complete, the product is certified to the latest FCC, CE standards (which are required for all vaping products), but Rokin goes above and beyond to certify our vaping products. according to the latest RoHS standard, which restricts the use of six hazardous materials commonly found in electronic products.
About KetoSports, Inc.
KetoSports products flush the body with ketones, increasing the levels of ketones in the blood within minutes. Because the body and brain use ketones as their preferred energy source and are primarily used for energy needs, KetoSports products are essential for anyone who wants to extend their energy stores for their sporting events or for those who simply wish to benefit from a stimulant without carbohydrates. –free mental energy and improved acuity.
Forward-looking statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this press release that are not historical facts, including, without limitation, statements that relate to the expectations of the Company as regards the future impact on the results of the Company on new products in development can be considered as forward-looking statements. Words such as “expects”, “intends to”, “plans”, “could”, “could”, “should”, “anticipates”, “likely”, “believes” and words of Similar significance also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyzes and other information based on forecasts of future results, estimates of amounts not yet determined and management’s assumptions. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of their publication. Except as required by applicable law, we assume no obligation to update any forward-looking statements to reflect any event or circumstance that may arise after the date of this release.
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THE SOURCE: Limitless Venture Group, Inc.
See the source version on accesswire.com:
https://www.accesswire.com/618968/Limitless-Venture-Group-Inc-Completes-Acquisition-of-Jasper-Benefit-Solutions-LLC-MGU-and-Enters-the-250-Billion-Dollar-MGUTPA- Industry
