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Xtreme One Entertainment Announces Third Quarter 2024 Financial Results
Xtreme One Entertainment Announces Third Quarter 2024 Financial Results.
About this update from Xtreme One Entertainment, Inc.
[{"type":"text","content":"\n DETROIT, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Xtreme One Entertainment, Inc. (OTCPink: XONI) (the “Company” or “Xtreme One”) today announced its financial results for the third quarter ending September 30, 2024, details of which have been filed within the Company’s quarterly disclosure statement accessible at https://www.otcmarkets.com/stock/XONI/disclosure. “The team put on another incredible event this quarter with XFC 51: Evolution in Milwaukee. The more events we get under our belt, the more successful they become, and it allows us to further focus on amping up the production quality and fan engagement. As we move forward on our path, we continue to drive efficiencies that allow us to lower our per event operating costs, at the same time, we’re amplifying each of our revenue channels,” said Chris Defendis, Xtreme One President. “We are seeing increased demand for our events from fans, fighters, and media partners and this allows us to fully engage all facets of monetization to enhance top-line growth.” For the third quarter of 2024, the Company incurred a loss of $1.5 million, or ($0.01) per diluted share as the Company continue to make significant investments in the production of live events and building the XFC brand within the MMA category.   During the quarter, the Company achieved several significant milestones in pursuit of its strategy to build a global sports business: Successfully produced XFC 51: Evolution in Milwaukee, Wisconsin on September 27, 2024, featuring seven total bouts with a variety of male and female fighters in various weight classes. The event was held for a ticketed audience and broadcast live to pay-per-view audiences in the United States and internationally.The Board approved a strategic growth plan including a $10 million capital raiseThe Company announced it had entered into Name, Image, Likeness (NIL) agreement with a number of world-class college wrestlers and combat-sport veterans including Henry Cejudo and Jeremy Stephens.Xtreme Shareholder Rewards were launched and include perks and VIP event access for verified retail investors. (TiiCKER.com/XONI) Defendis added, “Our differentiated model, built on nearly two-decades of experience, is for the XFC to be the number one developmental league for MMA athletes to grow an...