Livento Group, Inc. reported a revenue of $1.69 million for the fiscal year ending December 31, 2024, a decrease from $2.01 million in the previous year. The company experienced a net loss of $596,394, significantly improved from a loss of $6.55 million in 2023. This reduction in losses is attributed to a decrease in general and administrative expenses, which fell from $5.61 million to $911,556, and a slight increase in other income, which rose to $1.56 million from $288 in the prior year.
The company has undergone significant strategic changes, including a shift in focus from real estate development to film and television production through its subsidiary, BOXO Productions, Inc. In 2023, Livento initiated production on three films and plans to produce up to six movies and twelve television productions in 2024. The company also acquired various intellectual properties related to film projects valued at over $22 million, which were financed through the issuance of shares.
Operationally, Livento has expanded its workforce to support its growing film production activities, with a current headcount of eleven employees and consultants. The company has also developed its proprietary software, Elisee, which is designed to assist investment entities in portfolio management. Elisee generated approximately $1.12 million in revenue during 2024, reflecting the company's ongoing commitment to enhancing its AI capabilities.
Despite the positive developments, Livento faces challenges, including high operational costs and ongoing losses. The company reported total liabilities of $4.18 million, with a significant portion attributed to co-investments in film projects. Management has indicated that they will continue to focus on BOXO and Elisee, anticipating that revenue from these segments will improve as the film projects progress and the demand for Elisee's services increases.
Looking ahead, Livento Group aims to leverage the capital generated from the sale of its real estate properties to fund its film production activities. The company is optimistic about the potential for growth in the entertainment sector, particularly as demand for new content continues to rise in the post-pandemic landscape. However, management cautions that achieving these goals will depend on market conditions and the successful execution of their strategic initiatives.
About Livento Group, Inc.
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