{"id":4579,"date":"2014-05-16T10:12:35","date_gmt":"2014-05-16T10:12:35","guid":{"rendered":"\/?p=4579"},"modified":"2014-05-16T10:13:17","modified_gmt":"2014-05-16T10:13:17","slug":"mantra-venture-group-ltd-otcmktsmvtg-gets-some-publicity","status":"publish","type":"post","link":"\/articles\/mantra-venture-group-ltd-otcmktsmvtg-gets-some-publicity\/","title":{"rendered":"Mantra Venture Group Ltd (OTCMKTS:MVTG) Gets Some Publicity"},"content":{"rendered":"<p> <img loading=\"lazy\" decoding=\"async\" style=\"float: right; margin: 3px;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/MVTG.png\" border=\"0\" alt=\"MVTG.png\" title=\"MVTG.png\" width=\"400\" height=\"178\" \/>At the beginning of 2014, Mantra Venture Group Ltd (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MVTG\">MVTG<\/a>) was quietly sitting in the $0.10 to $0.15 range. Trading was not particularly exciting and it looked like the ticker would remain at these levels for quite some time. Then, in March, the company issued a series of optimistic press releases and investors started paying attention. <\/p>\n<p>In no time, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MVTG\">MVTG<\/a> climbed to over $0.40 and on March 18, it hit a 52-week high of over $0.74. Some hesitation followed, but after the ticker got a mention in a Seeking Alpha article yesterday, it jumped up by as much as 26% and closed the session at $0.63 per share.<\/p>\n<p>At that price, the market cap stands at around $38 million and this seems a bit too much considering the figures found in the latest 10-Q. Here&#8217;s what <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MVTG\">MVTG<\/a> had at the end of February: <\/p>\n<ul>\n<li>no cash<\/li>\n<li>current assets: $33 thousand<\/li>\n<li>current liabilities: $1.3 million<\/li>\n<li>revenue: $16 thousand<\/li>\n<li>quarterly net loss: $215 thousand<\/li>\n<\/ul>\n<p>It should be noted, however, that things are a little bit different right now. <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MVTG\">MVTG<\/a> managed to raise some money in April and the press releases coming out of the company HQ inform us about numerous exciting developments.<\/p>\n<p>On March 18, for example, they said that they&#8217;re starting work on a fuel cell vehicle prototype. A week later, they informed us that a project has been launched which will culminate in the construction of a plant based in Richmond, B.C.<\/p>\n<p>What&#8217;s more, unlike other penny stock companies that issue a torrent of optimistic press releases, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MVTG\">MVTG<\/a> have actually signed some contracts in the past and they seem to be moving forward with commercializing their ground-breaking technology. That said, the ticker is anything but a risk-free investment.<\/p>\n<p>Although they have been around for quite some time, they started generating revenues last year. There&#8217;s still plenty of work to be done and nobody can guarantee that success will ultimately be achieved. There are a couple of other things you might want to consider as well.<\/p>\n<p>The company has been financing its operations mainly through private placements and the valuation of the equity sold during these transactions sometimes presents quite a discount. April 10&#8217;s session, for example, saw the ticker jump from $0.50 all the way to $0.60. On the very same day, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MVTG\">MVTG<\/a> completed a private placement during which fourteen people bought around 4 million investment units in exchange for $815 thousand ($0.20 per unit). Each unit consists of 1 common share and one warrant exercisable at $0.37.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"float: left; margin: 3px;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/5MVTG_logo.png\" border=\"0\" alt=\"5MVTG_logo.png\" title=\"5MVTG_logo.png\" width=\"150\" height=\"43\" \/>Another thing you should definitely keep in mind is the fact that the company CEO, Larry Kristof, appears to be an extremely controversial figure. A quick search reveals that he was once at the helm of a penny stock company called Lexington Energy Services, Inc. Lexington is now known as Suburban Minerals Corp (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SUBB\">SUBB<\/a>) and it&#8217;s traded on the Grey Market due to the paid pump and the subsequent temporary suspension it received back in March.<\/p>\n<p>As we wrote a couple of years ago, Mr. Kristof also seems to have a past of promoting stocks and he had some problems with the law when a couple of bags full of money were found in the back of his van in 2003.<\/p>\n<p>This does not necessarily mean that <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MVTG\">MVTG<\/a> is about to fail catastrophically with its business plan. It does, however, warrant a lot of extra caution.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>At the beginning of 2014, Mantra Venture Group Ltd (OTCMKTS:MVTG) was quietly sitting in the $0.10 to $0.15 range. Trading was not particularly exciting and it looked like the ticker would remain at these&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1312,1207],"class_list":["post-4579","post","type-post","status-publish","format-standard","hentry","category-news","tag-mvtg","tag-subb"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4579","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=4579"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4579\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=4579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=4579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=4579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}