Xtreme One Entertainment Announces Third Quarter 2024 Financial Results
Continued Investment in the Production and Distribution of XFC Live Events Yield Progress Towards Long-Term Strategic Growth Plan
DETROIT, November 14, 2024 – 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 raise.
The 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 and shine. And when we couple this with delivering great stories and great shows for our fans, the result will be sustainable growth in revenue, sponsor engagement and global distribution and viewership that we expect to fuel 2025 and beyond.”
Xtreme One is building out its fight calendar for 2025 and anticipates a combination of Main Card fights and the return of its Tryouts and Young Guns series to source the next generation of professional MMA fighters.
About Xtreme One Entertainment, Inc.
Founded in 1995 as a consumer and diversified holding company, Xtreme One Entertainment, Inc. (OTCPink: XONI) is now focused on media, entertainment, live sports, and event marketing. The Company, through its wholly owned subsidiary, XFC Global, Inc. (XFC), is the licensee of all the brands and intellectual property of Xtreme Fighting Championships Inc. worldwide. The XFC has produced over 50 televised professional MMA fights in the U.S. and Latin America since 2006 and was relaunched in 2024 by the new management team and world-class Board at Xtreme One. XFC fights are streamed live on Triller TV, the American Forces Network and a growing number of media platforms. For more information, visit XtremeOne.com or XFCFight.com, or to unlock shareholder perks and rewards, go to www.TiiCKER.com/XONI.
Contact:
Investor Relations for XONI
Zachary Mizener
