Mon, Jul 15, 4:19 PM (54 days ago)
AB International Group Corp. reported a net loss of $318,285 for the nine months ended May 31, 2024, a significant improvement from a net loss of $2,911,527 for the same period in 2023. Revenue increased to $1,885,311, primarily driven by licensing fees from their NFT MMM platform, movie copyright sales, and new consulting services. Operating costs and expenses decreased to $2,266,117 from $4,020,662, due to lower amortization and general administrative expenses. The company also reported a positive cash flow from operations of $124,938, compared to a negative $467,009 in 2023. Despite these improvements, the company faces a working capital deficit of $268,452 and continues to rely on stockholder support and external financing to sustain operations. The company is focused on expanding its movie and TV copyright sales and increasing revenue from its NFT platform and movie theater.