Fri, Aug 16, 10:10 AM (151 days ago)
For the second quarter of 2024, Livento Group, Inc. reported revenues of $558,707, a 34% increase from $431,184 in the same period of 2023. The revenue growth stemmed from software services, management for Global Dot Logistics, and movie projects. However, the company incurred a net loss of $262,792, compared to a loss of $2,462,842 in Q2 2023, indicating improved operational efficiency despite ongoing challenges. Total assets rose to $48,061,055, primarily due to increased accounts receivable and equity growth. The company’s cash position decreased to $7,970, down from $30,634 at year-end 2023. Cost of goods sold included significant amortization of intangible assets totaling $530,429, reflecting ongoing investments in software and movie projects. While cash flow from operations was negative, financing activities provided some liquidity, with proceeds from stock sales totaling $28,021. The company continues to face risks, including reliance on major clients and potential cybersecurity threats. Future operations hinge on successful capital raising and effective management of ongoing projects, particularly in the competitive software and film production markets.