V GROUP INC. (OTCMKTS:VGID) stock made an impressive climb yesterday, but unfortunately driven by no new information. It’s been more than a month when the company had last released any update. As per a press release posted last month, the company had fixed the specific date on which its shareholders will automatically become the participating equity holders in its spin-off company Fernhill Beverage, Inc.
Split-off last month
After Fernhill became a public entity, V GROUP INC. (OTCMKTS:VGID) announced that its shareholders appearing on the record date of March 31, 2015 will become eligible to be a shareholder of Fernhill. Meanwhile, the company assured to release the finer details of its plans with Fernhill within a period of two weeks. While the stated time frame has already elapsed, there is nothing heard from the company on this front. The company had indicated that it is working on the ticker symbol, distribution ratio and public launch date for Fernhill, but it appears the same has not been finalized.
More plans announced
Other than this, V GROUP INC. (OTCMKTS:VGID) announced its plans of purchasing an existing beverage company as well. Without giving any specific details, the company noted that the target acquisition has a unique product that will complement V Group’s existing flagship beverage A.N.D. Again, V GROUP INC. (OTCMKTS:VGID) projected the negotiations to reach to a conclusion within three to six weeks, but there is no information in that regard as such.
The company’s CEO, Larry Twombly had excitedly said that they have a lot going on. He visioned the year 2015 to be a successful year, given the company’s target of splitting off two companies. Twombly’s note did mention the company’s plans of adding a distribution company and purchasing a production facility towards the end of the year. But, there is nothing heard after then.
The stock of V GROUP INC. (OTCMKTS:VGID) inched up by more than 14% to $0.00080 as 2.89 million shares changed hands.
