There are usually two sides of every story, but when you talk about Mantra Ventures Group Ltd.(OTC:MVTG) the dark part might take more than a daily trading session to read about. The key words that describe the situation here are – drugs, cash seized by the police, a friendly stock promoter and some not so friendly past operations.
Larry Kristof, the man is running Mantra up-to-date. Once a promoter, today Larry creates the hype for one more venture. As the latest promotion states, Kristof is an old friend of the promoter, but fails to mention some of Larry`s older friends. One of them is Nadir Khan. Some years ago, Khan and Kristof were caught by police officers in a minivan with a few bags of money, and they both had a difficult time explaining where the cash came from. The whole civil forfeiture procedure can be found here, but one detail was of particular interest – the K-9 drug dog Dixie, trained for exactly that – to indicate when drug substances are present. Dixie alerted to the presence of controlled substances on the bag.
While the above might not affect the stock price of Mantra Ventures at present, it should be taken into consideration. And so should be the former business ventures of Mr. Kristof, some of which might seem quite peculiar even if you are a person enjoying crime series.
Back to present days. In terms of financials, Mantra is not really so much different than the other companies Larry run, or took place in. The latest 10-Q would include the following:
- $3k in cash, $82k in current assets;
- $1.1 million of total liabilities;
- $5.59 million of accumulated deficit;
There is also not much of revenues to talk about, but this should be taken into consideration. It is an extract copy of the latest SEC filings: “At our current cash position and if this cash requirement continues, we do not have sufficient cash to cover our expenses for one month”.
So, since Mr. Kristof is well aware how promotions work and this stock might indeed go way above its current level of $0.13 per share. The invention they have ownership of Electro-Reduction of Carbon Dioxide or ERC could be the catalyst that Mantra needs in order to bring some confidence in investors and stability in its operations.
This, however, is a long run. Not only that, it is a misty run, and there is as much uncertainty as there can be at present and for the near future.
