AB INTL GROUP Report on Financial Results for the Six Months Ended February 28, 2022

NEW YORK, June 13, 2022 (GLOBE NEWSWIRE) — AB International Group Corp. (OTCQB: ABQQ), an intellectual property (IP) and film licensing and investment firm, announced its unaudited financial results for the six months ended February 28, 2022. Financial results have been filed in 10-Q with US Securities and Exchange Commission (“SEC”)

Key Financial Highlights:

Income for the six months ended February 28, 2022increased by 1072% to $1,800,000when compared to $153,600 for the last six months February 28, 2021.

Gross Profit of $426.866 for the last six months February 28, 2022compared to a gross loss of $301,327 for the last six months February 28, 2021. Increase in gross profit margin for the six months ended February 28, 2022 caused by increased revenue from the sale of film copyrights.

We incur a net loss of $602,944 for the last six months February 28, 2022compared to a net loss of $1,521,663 for the last six months February 28, 2021.

We earned a net profit of $449,101 for three months ended February 28, 2022compared to a net loss of $996.209 for three months ended February 28, 2021.

starting from February 28, 2022The company has $7,244,749 in total assets, total shareholder equity is $5,111,121compared to total assets $5,757,727total shareholder equity of $4,649,776 dated August 31, 2021.

Currently, the Company is selling licenses for 3 more films whose territorial rights have been completed. The company also hopes to generate revenue for the fiscal year balance by starting to generate NFT MMM revenue, as well as reach enough subscribers to start subscribing to ABQQ.tv. and generate revenue from the NY cinema box office.

About AB International Group Corp.

AB International Group Corp. is an intellectual property (IP) and film investment and licensing company, focused on the acquisition and development of various intellectual properties. We are involved in the acquisition and distribution of films. The company is engaged in the highly anticipated video streaming service targeting the global multi-billion dollar and growing video streaming industry. The online service will be marketed and distributed worldwide under the trademark ABQQ.tv. ABQQ.tv is expected to generate new and profitable revenue streams soon after the launch of the marketing strategy stemming from the subscription and hybrid advertising business model. The company has launched NFT MMM, the NFT film and music marketplace as a unique non-exchangeable token of the entertainment industry.

For additional information, visit www.abqqs.com and www.ABQQ.tv and NFT MMM www.stareastnet.io

Forward-looking Statements
This press release contains “forward-looking statements” made in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements relating to changes in the Company’s management team and statements relating to the Company’s transformation, finances and operations. performance including revenue and margin acceleration, and the Company’s overall strategy. Because forward-looking statements involve inherent risk and uncertainty, actual future results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, possible business disruptions, competitive uncertainty, and general economic and business conditions in AB International Groups markets as well as other risks detailed in the company’s filings with Securities and Exchange Commission. AB International Group is under no obligation to update any statement in this press release for changes occurring after this release date.

Investor Relations Contact:Jeff Deng(212) 918-4519

Main Logo


2022 GlobeNewswire, Inc., source Press conference

Tinggalkan komentar