Livento Group Inc. (OTCMKTS:NUGN) Stock Soars 185% in a Week: But Why?
One of the companies that could well be worth tracking at this point in time is Livento Group Inc. (OTCMKTS:NUGN). The company is a worldwide leader involved in the development and acquisition of intellectual property. The company is involved in the acquisition of intellectual property ranging across content, technology, and films. It came onto the radar of investors on Tuesday after it announced the launch of two new projects that would be produced by BOXO Productions.
The productions would be part of the $32.25 million acquisition that had been announced previously in May this year. BOXO is a major constituent of the company’s portfolio and boasts an extensive portfolio. BOXO boasts more than 50 films, games, documentaries, and TV shows. The subsidiary is also involved in the identification of intellectual property assets of value and seeks to create value for its shareholders.
The Chief Executive Officer of Livento Group, David Styber, spoke about the development as well. He noted that everyone at the company was excited at the possibility of adding the film titled ‘Earth on Fire’ and the television series ‘Evil Things’ to its ever-growing portfolio. He went on to note that the acquisitions were a testament to the fact that Livento was committed to boosting its revenues, cash flow, and profitability.
He added that the company continued to expand its content offerings so as to make sure that it continued to offer better value to shareholders. However, that is not all. In the news release yesterday, it was also noted that BOXO had also been working on a television series named ‘The Sisters Blackwell’. The series would be based on a family of women who go on to make considerable strides in the field of medical science.
Livento Group announced its financial results for the second fiscal quarter of 2023 on August 14. The headline number was the year-on-year revenue growth of as much as 91.65% in comparison to the second quarter of 2022. It could be a good idea for investors to take a look at some of the other highlights from the financial results.
The revenues recorded by Livento Group in the quarter stood at $431,184, which was a major improvement from the $224,986 in the prior-year period. In the six-month period that ended on June 30, 2023, the revenues came in at $922,651, which reflected year-on-year growth of 35.64% from the $680,202 in revenues in the prior-year period. The revenue boost was primarily brought about by the rising revenues from Elisee and Novel-Ti, which had been newly incorporated.
The company also recorded strong earnings per share in the quarter, which went up 35.9% year over year. The account receivable for the quarter came in at $206,911, and that worked out to a reduction of around 58% from the figure of $489,910 in the prior-year quarter. The intangible assets of Livento at the end of the quarter stood at $49,055,932 as compared to $15,118,847 in the prior-year period. It reflected a year-on-year rise of 225%.
