Viva Entertainment Group Inc (OTCMKTS:OTTV) shares rallied 10.40% on Monday to $0.00310 then retreated 3.23% to $0.00300 in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.17. The company has a market cap of $391,375.00 at 126.25 million shares outstanding.
In a press release, Viva Entertainment Group Inc shared that they have been granted membership into the United Nations Global Compact, which is a strategic policy initiative for businesses that are committed to aligning their operations and strategies with 10 universally accepted principles in the areas of human rights, labor, environment and anti-corruption. This is a platform for the development, implementation and disclosure of responsible corporate practices. The initiative has enlisted more than 9,000 corporate members 3,000 non-business signatories based in 160 countries around the world to lead change on the global sustainable development agenda by aligning their operations and strategies with 10 universally accepted principles in the areas of human rights, labor, environment and anti-corruption.
“VIVA aims to empower cable companies and telecoms globally with VIVA’s cost-effective and technologically superior services,” said Johnny Falcones, Viva Entertainment Group Inc Chairman and CEO. “Joining the Global Compact connects VIVA directly with opportunities around the world and opens up new global partnerships. Along with The Brewer Group and endorser Ambassador Jack Brewer, VIVA’s goal is to provide people in developing countries more access to information. Engaging directly with telecoms across the globe demonstrates VIVA’s ability to work with other companies to expand its products, while creating revenues for the Company and shareholders.”
Under this framework, UNGC will allow for a greater transparency of Viva Entertainment Group and its objectives. It will rovide a framework for reporting progress, sustainability, and potential and relay information to investors that Viva has established values with, in order for them to be aware and active in regards to issues regarding human rights, anti-corruption, the environment, and labor issues.
Viva Entertainment Group Inc was formerly known as Black Petroleum Group Inc. It is an entertainment and technology company connecting content owners and video distributors to deliver content on any smart device with a screen. The Company develops and markets Internet protocol television/over the top (IPTV/OTT) application for connected television, desktop computers, tablets and smart phones. With a wireless fidelity (WiFi) connection, the Company’s customers can watch Live Television from around the world, television shows, as well as movies on demand, tele-video conference and various other interactive features. As of April 30, 2016, the Company had not generated any revenues.