MGO Global reports Q1 EPS (1c) vs. (8c) last year

Reports Q1 revenue $670,264 vs. $45,147 last year. 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 EUR 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.”