New York, NY, November 14th, 2023— Livento Group, Inc. (OTC:NUGN), a leading player in the acquisition of emerging technology and media, has announced its financial results for the third quarter of 2023, showcasing remarkable growth in key areas. In addition to receiving Form 10 approval from the Securities and Exchange Commission, Livento has focused on increasing revenues, securing top tier talent, and investing in growth marketing.
Revenues for the third quarter of 2023 reached an impressive $586,643, marking a substantial 67.6% increase compared to the same period in 2022 when revenues stood at $350,000. Most of this revenue surge can be attributed to software fees generated in both the USA and European markets, as well as income generated from movie projects under Boxo Productions.
Livento Group, Inc. has seen significant success with 50+ film and TV projects, two of which have successfully entered distribution. Elisee, the company’s flagship product, continues to be a stable source of income, outperforming the DJIA by 3.17% this year.
Steady Expansion and Margins
The company’s commitment to efficiency and excellence is evident in its financials. Livento’s costs of goods sold include an amortization of intangible assets totaling $736,170 and professional fees of key professionals amounting to $91,249, mainly related to the generation of income from Elisee. The company maintains margins that are competitive within its industry, reflecting its proficiency in delivering top-quality services.
Investing in Growth
Livento has actively invested in advertising and promotion, with expenses totaling approximately $283,907 for the third quarter of 2023, compared to $17,399 during the same period in 2022. These investments have been channeled into online promotion and new marketing campaigns, further highlighting the company’s commitment to growth.
For the nine months ended September 30, 2023, Livento reported revenues totaling $1,509,294, a remarkable 50% increase compared to the same period in 2022 when revenues were $1,030,202. The company attributes this growth to expanded staffing and substantial software fees in the USA and European markets. Additionally, revenues from Boxo Productions, Inc. were recorded during the third quarter of 2023.
These financial results underscore Livento Group, Inc.’s ongoing commitment to growth, innovation, and delivering value to its customers and shareholders. The company remains poised for a successful future and is excited about the opportunities that lie ahead.
About Livento Group, Inc.
Livento Group (OTC: NUGN) is committed to acquiring and developing companies with disruptive business models. The company has recently launched BOXO Productions, a film, and television production subsidiary, helmed by top industry actors and producers. For further information on Livento Group and BOXO Productions, please visit www.liventogroup.com and www.boxoproductions.com.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements as predictions, projections, or references to future events and expectations, possibilities, or similar. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. Although the Company believes the expectations reflected in our forward-looking statements are based on reasonable assumptions, the Company is unable to give any assurance that its expectations will be attained due to several variable factors. Factors or events that could cause actual results to differ may emerge, and it is impossible for the Company to predict all of them. Some of these risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, in customer order patterns, changes in consumer trends, and various other factors beyond the Company’s control. Although the Company intends to provide public updates, it undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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Chief Executive Officer, Livento Group, Inc.
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