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MGO Global Announces First Quarter 2024 Results

MGO Global Announces First Quarter 2024 Results

MGO Global公佈2024年第一季度業績
Accesswire ·  05/21 20:30

MIAMI, FL and LONDON, UK and NEW YORK, NY / ACCESSWIRE / May 21, 2024 / MGO Global Inc. (NASDAQ:MGOL), a digitally-native, lifestyle brand portfolio company, ("MGO" or the "Company" or "MGO Global"), today announced its financial results for the three months ended March 31, 2024.

佛羅里達州邁阿密和英國倫敦以及紐約州紐約/ACCESSWIRE /2024年5月21日/數字原生生活方式品牌投資組合公司MGO Global Inc.(納斯達克股票代碼:MGOL)(“MGO” 或 “公司” 或 “MGO Global”)今天公佈了截至2024年3月31日的三個月的財務業績。

First Quarter Financial and Operational Highlights

第一季度財務和運營亮點

  • Total revenues climbed 1385% to $670,264 from $45,147 due primarily to the timing of the launch of the Company's Stand Flagpole line of products, which did not occur until mid-March 2023.
  • On March 21, 2024, MGO assigned its Trademark License Agreement ("TLA") with Leo Messi Management ("LMM") for the Messi Brand line of apparel, accessories and homewares to Centric Brand in exchange for $2,000,000 in cash and Centric Brands assuming all of MGO's right and obligations pursuant to the TLA, including the minimum guaranteed royalty amount of €1,500,000 due in 2024 to LMM. As a result, revenues generated from sales of Messi Brand products have been reflected in discontinued operations for the comparable three month reporting periods ended March 31, 2024 and 2023.
  • Net loss from continuing operations was $1,864,135, a 169% increase over the net loss of $692,506 reported for the three months ended March 31, 2024 and 2023, respectively.
  • Net income from discontinued operations rose to $1,927,298 from a net loss of $527,619 for the three months ended March 31, 2024 and 2023, respectively, largely as a result of the Centric Brands deal.
  • Overall, net income totaled $63,163 for the three months ended March 31, 2024, which compared to a net loss of $1,220,125 posted for the three months ended March 31, 2023. After factoring net income of $227,807 and a net loss of $62,069 for non-controlling interest for the three months ended March 31, 2024 and 2023, respectively, net loss attributable to MGO stockholders was $164,644, or $0.01 loss per share, and 1,158,056, or $0.08 loss per share, respectively.
  • In February 2024, the Company engaged New York-based investment banking firm Maxim Group, LLC to implement an At-The-Market offering ("ATM") to raise gross proceeds of up to $1,650,000 through sales of our common stock in the open market from time to time, depending on prevailing market conditions. As of March 31, 2024, the Company has received net proceeds of $662,565 from the ATM.
  • 總收入從45,147美元攀升了1385%,至670,264美元,這主要是由於該公司推出的時機 立式旗杆 產品系列,直到 2023 年 3 月中旬才問世。
  • 2024 年 3 月 21 日,MGO 將其與里奧·梅西管理公司(“LMM”)的商標許可協議(“TLA”)轉讓了 梅西品牌 向Centric Brand提供一系列服裝、配飾和家居用品,以換取200萬美元的現金,Centric Brands承擔MGO根據TLA的所有權利和義務,包括2024年應向LMM支付的150萬歐元的最低保障特許權使用費。因此,銷售產生的收入是 梅西品牌 在截至2024年3月31日和2023年3月31日的可比三個月報告期內,產品已反映在已停止的業務中。
  • 持續經營業務的淨虧損爲1,864,135美元,比截至2024年3月31日和2023年3月31日的三個月中公佈的692,506美元的淨虧損分別增長了169%。
  • 截至2024年3月31日和2023年3月31日的三個月,已終止業務的淨收益分別從527,619美元增至1,927,298美元,這主要是由於Centric Brands的交易。
  • 總體而言,截至2024年3月31日的三個月,淨收入總額爲63,163美元,而截至2023年3月31日的三個月淨虧損爲1,220,125美元。在計入截至2024年3月31日和2023年3月31日的三個月,分別爲227,807美元的淨收益和62,069美元的非控股權益淨虧損後,歸屬於MGO股東的淨虧損爲164,644美元,合每股虧損0.01美元,以及1,158,056美元,合每股虧損0.08美元。
  • 2024年2月,公司聘請總部位於紐約的投資銀行公司Maxim Group, LLC實施市場發行(“ATM”),通過不時在公開市場上出售我們的普通股,籌集高達165萬美元的總收益,具體取決於當前的市場狀況。截至2024年3月31日,該公司已從自動櫃員機獲得662,565美元的淨收益。

As of March 31, 2024, cash and cash equivalents was $1,517,158, there was no long-term debt and total stockholders' equity was $2,042,886. This compared to cash and cash equivalents of $836,446, zero long term debt and total stockholders' equity of $921,748 as of December 31, 2023.

截至2024年3月31日,現金及現金等價物爲1,517,158美元,沒有長期債務,股東權益總額爲2,042,886美元。相比之下,截至2023年12月31日,現金及現金等價物爲836,446美元,長期債務爲零,股東權益總額爲921,748美元。

Maximiliano Ojeda, Co-founder, Chairman and CEO of MGO, stated, "MGO started 2024 strong, highlighted by material revenue growth for our Stand Flagpole business, coupled with the assignment of the Messi Brand to Centric Brands, which resulted in a $2 million cash infusion and the elimination of the 2024 minimum royalty payments to LMM of €1,500,000. MGO is now concentrating on driving sustainable, long-term growth of Stand Flagpoles, while achieving material efficiencies in our day-to-day operations. Moreover, in the first quarter, we took aggressive actions to simplify our cost structure, reduce our headcount and implement a more sustainable business model - all of which we believe will help position MGO to achieve positive cash flow in the quarters ahead."

MGO聯合創始人、董事長兼首席執行官馬克西米利亞諾·奧耶達表示:“MGO在2024年開局表現強勁,我們的實質性收入增長凸顯了這一點 立式旗杆 業務,再加上分配 梅西品牌 向Centric Brands注入了200萬美元的現金,並取消了2024年向LMM支付的150萬歐元的最低特許權使用費。MGO現在正專注於推動可持續的長期增長 立式旗杆,同時在日常運營中實現材料效率。此外,在第一季度,我們採取了積極的行動來簡化成本結構,裁減員工人數並實施更可持續的商業模式——我們認爲,所有這些都將有助於MGO在未來幾個季度實現正現金流。”

For more detailed information on MGO's first quarter 2024 financial performance, please refer to the Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission and accessible at www.sec.gov or on MGO's website at .

有關MGO2024年第一季度財務業績的更多詳細信息,請參閱向美國證券交易委員會提交的10-Q表季度報告,該報告可在www.sec.gov或MGO的網站上查閱。

About MGO Global Inc.
MGO Global is actively engaged in building a portfolio of independent, digitally native, lifestyle brands, which are unique and differentiated, yet all defined by distinctive, high-quality products and a shared commitment to delivering high-touch customer experiences across its ecommerce and wholesale channels. MGO is currently comprised of two business units: Americana Liberty, which markets a growing, high-end line of thoughtfully curated home and outdoor products, including Stand Flagpoles; and MGO Digital, which leverages data analytics, advanced technology-enabled marketing and our leadership's industry relationships and expertise to identify, incubate and introduce to market new, authentic lifestyle brand concepts. For more information on MGO Global, please visit .

關於 MGO Global Inc.
MGO Global積極參與建立獨立的、數字原生的生活方式品牌組合,這些品牌獨一無二且與衆不同,但均由獨特的高質量產品定義,並共同致力於通過其電子商務和批發渠道提供高觸感客戶體驗。MGO目前由兩個業務部門組成:Americana Liberty,該公司銷售不斷增長的高端精心策劃的家居和戶外產品系列,包括Stand Flagpoles;以及MGO Digital,它利用數據分析、先進技術驅動的營銷以及我們領導層的行業關係和專業知識來識別、孵化並向市場推出新的真實生活方式品牌概念。如需了解有關 MGO Global 的更多信息,請訪問。

Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company's ability to grow its businesses and other statements that are not historical facts, including statements which may be accompanied by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, customer acceptance of new products, and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company's products and the Company's customers' economic condition, the impact of competitive products and pricing, general economic conditions and other risk factors detailed in the Company's filings with the United States Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.

關於前瞻性陳述的警示說明
本新聞稿可能包含受各種風險和不確定性的前瞻性陳述。此類陳述包括有關公司發展業務能力的陳述和其他非歷史事實的陳述,包括可能附有 “打算”、“可能”、“將”、“計劃”、“期望”、“預期”、“項目”、“預測”、“估計”、“目標”、“信念”、“希望”、“潛力” 或類似詞語的陳述。由於某些因素,包括但不限於公司實現盈利運營的能力、客戶對新產品的接受程度以及公司擁有供應鏈合作伙伴的國家當局未來採取的措施、對公司產品的需求和公司客戶的經濟狀況、競爭性產品和定價的影響、總體經濟狀況以及公司文件中詳述的其他風險因素,實際業績可能與這些前瞻性陳述中描述的結果存在重大差異與美國證券交易委員會合作。本新聞稿中包含的前瞻性陳述是截至本新聞稿發佈之日作出的,除非根據適用法律,否則公司不承擔任何責任更新本新聞稿中的前瞻性陳述。

CONTACT INFORMATION:
FOR MEDIA AND INVESTOR RELATIONS
MGO Global Inc.
Dodi Handy, Director of Communications
Phone: +1 407-960-4636
Email: ir@mgoteam.com

聯繫信息:
用於媒體和投資者關係
MGO Global Inc
傳播總監多迪·漢迪
電話:+1 407-960-4636
電子郵件:ir@mgoteam.com

SOURCE: MGO Global

來源:MGO Global


譯文內容由第三人軟體翻譯。


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