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Xtreme One Entertainment Announces Full Year 2024 Financial Results
Xtreme One Entertainment Announces Full Year 2024 Financial Results.
About this update from Xtreme One Entertainment, Inc.
[{"type":"text","content":"\n DETROIT, March 31, 2025 (GLOBE NEWSWIRE) -- Xtreme One Entertainment, Inc. (OTCPink: XONI) today announced its financial results for the full year ending December 31, 2024, details of which have been filed within the Company’s annual disclosure statement accessible at https://www.otcmarkets.com/stock/XONI/disclosure. “This past year was one of growth and tremendous development for the team at Xtreme One Entertainment. We came back swinging with three fully produced live events in Florida, Michigan, and Wisconsin that marked the initial success in reinvigorating the storied, but orphaned XFC brand. I'm incredibly proud of the efforts of the entire team and their dedication to our mission of becoming the preeminent MMA development league in the industry,” said Chris Defendis, Xtreme One President. “As we continue to grow and execute, our fans and athletes continue to see our vision, and that is clear through the building success of our events. We’ve made incredible strides over the past year, and this is only the beginning as we seek to further expand into global MMA markets.” For the 2024 fiscal year, the Company incurred a loss of $5.9 million, or ($0.04) per diluted share, primarily as a result of a $1.9 million non-cash charge for derivative liability related to the Company’s convertible Series A Preferred Stock, as well as significant investments in the production of live and globally televised events to elevate the XFC brand within the MMA category. The Company views 2024 as a foundational year and a strong proof of concept for its business model as the “minor league” and talent development global player in the $11 billion MMA industry worldwide. During the year, the Company achieved several significant milestones in pursuit of its strategy to build a global sports and entertainment business: Successfully produced XFC 50: Resurrection held in April in Lakeland, Florida. The event was held for a live ticketed audience and broadcast live to pay-per-view audiences in the United States and internationally and featured eight professional bouts.XFC Grand Prix II held in late May in Detroit featured nine pro MMA bouts. The second main event marked sequential improvements in key performance measures, including increased ticket sales, increased streaming viewership, and signifi...