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Livento Group Inc (NUGN+87.50%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing revenues of $527,588, primarily from sales of Elisee and management services for Global Dot Logistics. This is a slight decrease from $586,643 in the same quarter the previous year.
Cost of goods sold for the quarter amounted to $767,742, with significant expenses in professional fees and amortization of intangible assets.
The company reported a net loss of $409,929 for the quarter, compared to a net loss of $1,180,537 in the previous year. The loss is attributed to high expenses in professional fees and stock-based compensation.
Cash provided by operating activities was $282,392, while cash used in investing activities was $424,430, primarily for the purchase of intangible assets.
Livento Group had total assets of $47,952,229 as of September 30, 2024, with liabilities of $4,094,636 and equity of $43,857,593.
The filing also details the company's focus on movie projects under BOXO Productions and the development of financial management software.
Livento Group continues to face risks related to its business operations, including the need for additional capital and cybersecurity threats to its projects.
The company acknowledges its dependence on a few major clients for a significant portion of its revenue and highlights the competitive nature of the software development market.
Livento Group's management has established disclosure controls and procedures, concluding their effectiveness as of September 30, 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Livento Group Inc quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.