NEW YORK, NY / ACCESSWIRE / June 5, 2023 / Livento Group, Inc. (OTC PINK:NUGN), a dynamic group that specializes in acquiring and developing companies with disruptive business models in film, content, and technology for fund managers, announced the start of the list of movies acquired last week.
BOXO Productions Inc, is a 100% owned subsidiary of Livento Group Inc, Livento previously announced on 30th of May 2023 the acquisition of 44 new movie, TV projects and 3 games in the amount of $33.25 million.
BOXO has acquired between 1-10% stake in each, within the next 5 years. The acquisition has expected revenues of $120m to BOXO combining development and profit share of finalized movies. BOXO expects that in total the 44 acquired projects gross $8.6 billion in box office sales globally. The first seven finalized projects should contribute approximately $1-2 million to BOXO revenues in the next 12 months. From the slate of projects acquired three movies are in the final stage of production and should deliver box office revenues in Q1 - Q2 2024. The remaining Projects will be completed in 2025. We will be receiving revenues from all of these upcoming projects in pre-production, mid-production, and post-production.
The Budgets for the movies are based on similar movies that were previously produced by the same people and studios that work with our team. The movies whose names can be announced are already published on the BOXO website.
Our production team works on these projects with some of the best people in the industry and with studios that have strong proven track records. As an example, we work closely with Sam Raimi. Sam Raimi is a Movie Director and Producer that has filmed the Spiderman movies for Marvel and Doctor Strange 2. He is one of the most sought-after Directors and Producers in Hollywood these days, with an incredible track record. Some of his movies have achieved Box Office revenues of over $800 million. It is worth noting that in 25 movies that he was involved in the average return was 4x the original budget in box office revenues.
"Moving forward, we will introduce two or three movies every week showcasing the details so that shareholders can see the true power of the BOXO acquisition. As part of the agreement, BOXO also has a percentage share of sequels produced. Sequels bring additional significant revenue opportunities for BOXO." said David Stybr, CEO of BOXO.
About Livento Group
Livento Group (OTC Pink: NUGN) is focused on acquiring and developing companies with disruptive business models. The company recently launched BOXO Productions, a film and television production subsidiary led by a top actor and producers in the industry. For more information, visit www.liventogroup.com and www.boxoproductions.com.
Safe Harbor Statement:
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements as predictions, projections, or references future events and expectations, possibilities or similar. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. Although the Company believes the expectations reflected in our forward-looking statements are based on reasonable assumptions, the Company is unable to give any assurance that its expectations will be attained due to several variable factors. Factors or events that could cause actual results to differ may emerge, and it is impossible for the Company to predict all of them. Some of these risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, in customer order patterns, changes in consumer trends, and various other factors beyond the Company's control. Although the Company intends to provide public updates, it undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Contact:
David Stybr, CEO
Livento Group, Inc.
ir@liventogroup.com
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SOURCE: Livento Group, Inc.
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