Hole shot King
2 일 전
$ABQQ Reports FY 2024 Audited Financial Results, Introduces FY 2025 Outlook, Announces to Repurchase $5 Million of Shares by Year-End 2025
FY 2024 REVENUE INCREASED 125% TO A RECORD $3.3 MILLION
FY 2024 REACH OPERATIONAL PROFITABILITY NET INCOME TO A RECORD $0.54 MILLION
GUIDES FY 2025 REVENUE GROWTH OF APPROX. 150%; EPS RANGE OF $0.001 TO $0.002
ANNOUNCES INCREASE TO PREVIOUSLY COMMUNICATED SHARE REPURCHASE GOAL, TO REPURCHASE $5 MILLION OF SHARES BY YEAR END 2025
NEW YORK, Nov. 26, 2024 (GLOBE NEWSWIRE) -- AB International Group Corp. (OTC: ABQQ), an intellectual property (IP) and movie investment and licensing firm, announces financial and operating results for the year ended August 31, 2024. The audited financial results have been filed in a 10-K with the U.S. Securities and Exchange Commission (the "SEC"). The Company also provided its financial outlook for the fiscal year ending August 31, 2025.
“ABQQ achieved record results during fiscal year 2024, as we delivered revenue growth of 125% and reached profit net income $542,331, reflecting a continued dedication to maintain exceptional levels of profitability as our business scale,” said Chiyuan Deng, President and Chief Executive Officer. “Movie License and NFT MMM IP License built up two of the most admired and well-positioned business in the marketplace, each with a robust innovation product pipeline designed to win with global consumers. Looking forward, our talented teams are highly motivated to continue driving towards the long-term opportunities of these iconic businesses.”
Key Financial Highlights:
Revenues for the year ended August 31, 2024, increased 125% to $3,300,467, as compared to $1,473,222 for fiscal 2023.
Operating expenses were $2,813,563 for the year ended August 31, 2024, compared to $5,030,354 for fiscal 2023. We experienced a decrease in theatre operating costs in fiscal 2024 compared to fiscal 2023, mainly due to the decrease in admission revenues and the decrease in movie exhibition costs as a percentage of admission revenue.
We incurred a net income of $542,331 for the year ended August 31, 2024, as compared with a net loss of $3,566,710 for fiscal 2023.
As of August 31, 2024.Total Stockholders’ Equity $1,459,902, as compared to $890,988 in Fiscal 2023.
During fiscal year 2024, the Company repurchased approximately 285 million shares of its common stock for a total of $50,699 at a weighted average price paid per share of $0.00018.
Full Fiscal Year 2025 Outlook for the Twelve-Month Period Ending August 31, 2025
The Company's full fiscal year 2025 outlook is forward-looking in nature, reflecting our expectations as of November 26, 2024, and is subject to significant risks and uncertainties that limit our ability to accurately forecast results. This outlook assumes no meaningful changes to the Company's business prospects or risks and uncertainties identified by management that could impact future results, which include but are not limited to changes in economic conditions, including consumer confidence and discretionary spending, inflationary pressures, and foreign currency fluctuation; geopolitical tensions; and supply chain disruptions, constraints and related expenses.
Revenues are expected to increase approximately 150% to $8.25 million.
Gross margin is expected to be approximately 60.5%.
Diluted earnings per share are expected to be in the range of $0.001 to $0.002.
https://x.com/ABIntlGroup/status/1861489004870541496
Hole shot King
2 주 전
$ABQQ NFT MMM updates.
Indeed, the current surge in Bitcoin's popularity and valuation could potentially position ABQQ's NFT marketplace as a beneficiary in several ways:
- Increased Attention to Blockchain Projects: As Bitcoin garners headlines, there's a spillover effect where interest in blockchain technology as a whole increases. This can lead to more people exploring NFTs, especially those on established blockchains like Bitcoin, if ABQQ has successfully integrated or is planning to integrate with Bitcoin's ecosystem.
- Investor Diversification: With Bitcoin's price on the rise, investors often look for ways to diversify their crypto portfolios. NFTs offer a different asset class within the same tech framework, providing an alternative investment avenue. ABQQ could attract Bitcoin investors looking to diversify into NFTs.
- Media and Community Focus: The crypto community's excitement around Bitcoin can be harnessed by ABQQ for publicity. By linking their NFT offerings to Bitcoin's success, ABQQ can gain media coverage, community engagement, and potentially drive up interest in their NFTs.
- Synergy with Bitcoin's Infrastructure: If ABQQ NFTs utilize Bitcoin's blockchain or technology like Ordinals for minting NFTs, the increased transaction volume and interest in Bitcoin can directly benefit ABQQ by providing a robust and secure platform for their NFTs.
- Cultural and Collectible Trends: Bitcoin's cultural impact often leads to a broader acceptance and interest in digital collectibles. ABQQ's movie and music NFTs could become more appealing as part of this trend, especially if they can tap into the narrative of owning digital assets with real-world value, akin to Bitcoin's perceived value as 'digital gold'.
https://x.com/ABIntlGroup/status/1858519280150880735
Top Penny
3 주 전
I like what I'm seeing here but please clarify and save me the headache until tomorrow morning to dig deeper, tired lol. Why did they cancel 50 million shares per the Tweet on Sep 23rd, but then the most recent filing was 9/5/24 where they want to sell billions more shares? What gives here? I need to look deeper???
Filed Pursuant to Rule 424(b)(3) and Rule 424(b)(8)
Registration Statement No. 333-280489
Prospectus Supplement No. 2
(To prospectus dated July 8, 2024)
AB INTERNATIONAL GROUP CORP.
Up to 4,500,000,000 Shares of Common Stock
This Prospectus Supplement No. 2 supplements the prospectus dated July 8, 2024, relating to the resale by the Selling Stockholder of up to
4,500,000,000 shares of common stock, par value $0.001 per share (the “Common Stock), of AB International Group Corp. (“AB International,” “we,”
“us”, “our” or the “Company”), a Nevada corporation. Shares amounting to 3,000,000,000 shares of Common Stock are purchasable by Alumni Capital
pursuant to the terms and conditions of the Purchase Agreement that we entered into with Alumni Capital on June 13, 2024 (the “Purchase
Agreement”). Pursuant to the Purchase Agreement, we have the right to “put”,” or sell, at our discretion, up to $5,000,000 worth of shares of Common
Stock to Alumni Capital. This arrangement is also sometimes referred to herein as the “Equity Line” and the $5,000,000 amount is sometimes referred
to herein as the “Commitment Amount.” The 3,000,000,000 shares of Common Stock to be issued in connection with the Purchase Agreement would
only represent approximately $420,000 using 70% of the lowest daily VWAP for the five days ending on July 3, 2024, which is far below $5,000,000
(the full amount of the Purchase Agreement). As a result, given our stock price, we may only be able to raise a small portion of the entire commitment
amount under the Purchase Agreement.