MGO Global Inc.

Good afternoon, ladies and gentlemen, and welcome to MGO Global's third quarter results webcast. Joining us from MGO are Maximiliano Ojeda, co-founder, chairman, and CEO, and MGO's chief financial officer, Vincent Ottominelli. Before I turn the floor over to them, I remind you that during today's call, statements that are not historical facts, including any projections, statements regarding future events or future financial performance, or statements of intent or belief are forward-looking statements and are covered by the safe harbor disclaimers contained in the company's public filings with the SEC. Actual outcomes and results may differ materially from what is expressed in or implied by these forward-looking statements. With that said, I'd now like to introduce Max. Max, the floor is yours.

Thank you very much, Karen. I'd also like to thank all of you who are listening this afternoon. For both the third and nine months reporting periods this year as compared to last year, MGO has succeeded in delivering revenue growth of 948% and 1,017% respectively. We believe that this performance is a direct reflection of our growth initiatives, producing highly favorable top line results and testifying to our team's hard work and the trust of our customers. Moving through the holiday season and into the new year, we expect to perpetuate our success by driving leverage in our operating efficiencies, expanding product categories for each of our brands, better aligning our cost structure with revenue growth, and executing marketing strategies that will fuel high customer conversion rates and increase per customer order values for both the messy store and stand flag posts. MGO is also focused on capitalizing on our shared service platform and infrastructure to support the addition of potential new brands addressing niche markets to our portfolio through possible acquisitions, brand collaborations, and organic incubation initiatives, all of which are in the works. Since going public in January of this year, we have embarked on a journey that has presented and continues to present us with valuable learnings and future growth opportunities. Our unique high-quality products and world-class team serve as the foundation of our strategy to become a leading direct-to-consumer digital commerce company, all while navigating the challenges posed by a difficult capital market environment, inflationary pressure impacting consumers, geopolitical conflicts, and a volatile microeconomic backdrop. Despite these challenges, our focus has not changed, and our financial and operational goals for the year appear to be on track as a result. Bini, could you now please provide our listeners with some insights into our third quarter results?

Sure, Max. Good afternoon to all of you listening in on today's webcast. Earlier today, we filed our third quarter 2023 report on Form 10-Q with the SEC. If you have not had a chance to review it, you may access it on SEC.gov or via MGO's Investor Relations section on our website under SEC Filings. I encourage everyone to read our 10Qs and other filings with the SEC to ensure you have a full understanding of our business, financial results, and other important information disclosed. I'll begin by sharing performance highlights from our statement of operations for the three and nine months ended September 30th, 2023, compared to the same reporting period in the prior year. Q3 2023 total revenues increased 948% to approximately 1.46 million, which is up from approximately $140,000 reported in the Q3 of last year. Revenues generated from sales of the Messi brand apparel, accessories, and homewares through our MGO Team 1 LLC subsidiary climbed 197% to approximately $415,000 for the three months ended September 30, 2023, when compared to approximately $140,000 reported for the three months ended September 30, 2022. Revenues from our relatively new Stan flagpole business, operated through our Americana Liberty subsidiary, totaled approximately $1.05 million for Q3 of this year, which compared to zero for the third quarter in 2022, due to the fact that we did not license the Stan flagpole business until March of this year, 2023. For the nine months of this year, total revenues climbed 1,017% to approximately $3.75 million from approximately $336,000 for the same nine months in 2022. Revenue contribution from the MESI brand represented approximately $931,000 for the first nine months of 2023. which is up from revenues of approximately $336,000 reported for the comparable nine-month period last year. Revenues from the sales of the Stand Flag Poles products totaled around $2.82 million for the nine months ended September 30th, 2023, compared to zero in the prior year due to the aforementioned timing of the licensing of the Stand Flag Poles, which occurred in the first quarter of 2023. Now, moving down the income statement, MGO's total operating expenses increased 328 percent to around $3.4 million from approximately $802,000 for the comparable three months. Our expenses for the first nine months of 2023 also increased, rising 241 percent to around $7.6 million from around $2.23 million. The increase on a comparable nine-month basis was largely due to higher SG&A expenses in connection with non-cash stock compensation expense, public company costs, increased headcount, and higher marketing expenses to fuel the increased sales of our messy and stand flagpole products. After factoring the net loss attributable to non-controlling interest of $62,800 for the three months ended September 30th, 2023, net loss increased 307 percent to around $2.55 million, or 17 cents loss per share, as compared to a net loss after factoring the net loss attributable to non-controlling interests of approximately $73,000, of around $627,000, or 6 cents loss per share, for the three months ended September 30, 2022. Now, for the nine months ended September 30, 2023, the net loss increased 178% to around $5.1 million, or $0.36 loss per share, after accounting for a net loss attributable to non-controlling interest of around $186,000. This compared to a net loss of approximately $1.86 million, or $0.17 loss per share, for the first nine months of 2022 after factoring a net loss attributable to non-controlling interest of approximately $222,000. Now, moving on to our balance sheet. As of September 30th, 2023, cash on hand was approximately $1.72 million. Our working capital was approximately $2.42 million, and total stockholder's equity was approximately $2.63 million. Now, that concludes my overview of the financial highlights, and I'll now turn the call back to Max. Max?