Business
V Group, Inc. Keeps Creating Value for Shareholders
V Group, Inc. Keeps Creating Value for Shareholders.
About this update from V Group, Inc.
[{"type":"text","content":"\n Carlsbad, California , June 10, 2021 (GLOBE NEWSWIRE) -- V Group, Inc. (OTC Pink: VGID) is pleased to update the public and shareholders to the progress of the latest incubation projects. V Group, Inc. has been diligently pursuing the Company’s goal of incubating revenue generating companies and spinning them off into their own public entities to the benefit of shareholders. The latest of which has been the incubation and spin-off of Pumped Fitness CBD into Suntex Enterprises Inc. (OTC Pink: SNTX) The completion of this project resulting in the distribution of SNTX shares to VGID shareholders is imminent. Once FINRA approves the distribution of shares, the Transfer Agent of Suntex Enterprises has instructions to release the shares immediately. After detailed correspondence with FINRA, all parties are expecting to have the total process completed soon. Suntex Enterprises is excited to have V Group shareholders as a key part of its shareholder base. With the spin-off of Pumped CBD to Suntex reaching its conclusion, V Group, Inc. is excited to announce that the Company has officially initiated the completion process of the next incubation project. In 2020, the management of V Group, Inc. purchased a publicly traded entity with the intention of spinning off Hollywood Star Cuts into a stand-alone Public Company with the shareholders of V Group participating in the new Public Company. The Public Entity was in need of restructure and re-establishment. That process has been completed and the new Public Entity is ready to accept Hollywood Star Cuts. Once Hollywood Star Cuts is successfully incubated into the new Public Entity, the Company will go through the process to audit the last 12 months of business to become fully reporting.  V Group will be releasing the name of the new public entity once the name change has been approved by FINRA and completed by the Company. For those that have never participated in a process like this, the sequence of events is as follows: V Group negotiates with FINRA to determine the distribution ratio (the amount of shares V Group shareholders will receive for every share owned by the V Group shareholder).V Group, along with the new Public Entity negotiates with FINRA to determine the cut-off date or otherwise known as “date of record”.The new Public Entity negotiates with FIN...