MIAMI, FL / ACCESS Newswire / March 13, 2026 / Luminar Media Group, Inc. (OTCID:LRGR) ("Luminar" or the "Company"), a diversified financial holding company focused on revenue-based financing solutions for small and mid-sized businesses and operating under the Fortun brand, today provided a general business update addressing certain previously disclosed corporate initiatives.
Corporate Name and Ticker Symbol Alignment
The Company expects to implement its previously disclosed corporate name change and ticker symbol change in the near term. Any related ticker symbol change will remain subject to applicable approvals, regulatory processing, and customary public disclosure.
At this time, the Company notes that no reverse stock split is being undertaken concurrently with the contemplated name and ticker symbol change.
Registration Statement Process Update
As previously disclosed, the Company has confidentially submitted a draft registration statement (DRS) on Form S-1 to the SEC for review. The Company received the initial SEC response on February 10th, 2026. The review process is ongoing. Because the submission remains nonpublic at this stage, the Company does not intend to provide further comment regarding that process except as may be required by applicable law or in connection with any future public filing.
A draft submission for nonpublic review does not appear on EDGAR unless and until the registration statement is publicly filed.
Audit and Year-End Financial Reporting Update
The Company previously announced that audited financial statements for fiscal years 2023 and 2024 were completed and included in its initial confidential registration statement submission materials.
As part of the ongoing review process, audited financial statements for fiscal year 2025 will also be required for inclusion in the registration statement materials.
The Company is currently working with its independent auditors to complete the 2025 audit. However, because this period coincides with a high volume of reporting deadlines for many issuers and service providers, the Company has been advised by its auditor that completion may occur later, with the current expectation being no later than the end of April 2026, although timing remains subject to change.
Accordingly, the Company currently expects to file its fiscal year 2025 year-end disclosure with OTC Markets by the March 31, 2026 deadline in accordance with the OTC Markets Alternative Reporting Standard under which the Company currently reports. If the initial filing is submitted on an unaudited basis, the Company expects to subsequently amend or supplement that disclosure once the audit is completed.
Upon completion of the audit, the Company intends to update its disclosure record and any registration statement materials as appropriate. Timing remains subject to completion of audit procedures and the SEC review process.
Board Composition and Governance
As previously announced, the Company appointed Juan M. Sese as Chief Financial Officer.
In addition, the Company is actively evaluating executive and board-level candidates as part of its broader governance planning. Board questionnaires and related diligence processes have been initiated in coordination with counsel as the Company assesses potential director candidates, including individuals who may satisfy independence standards applicable to a national securities exchange.
Any such appointments, if made, will be publicly announced through the Company's standard disclosure channels.
Credit Facility Initiative
The Company recently disclosed that it is exploring the establishment of a potential credit facility or line of credit. Any such financing, if obtained, would be intended to supplement, and not alter, the Company's previously announced business strategy.
Management stated that the primary objective of such a facility would be to provide additional non-dilutive capital that could expand the Company's capacity to fund small-business receivables through its platform. There can be no assurance that any such facility will be obtained or, if obtained, on what terms.
Management Commentary
Management stated that the Company is focused on its ongoing operations and on the evaluation and execution of previously disclosed corporate initiatives, subject to applicable approvals and market conditions. Except as described above, the Company is not announcing any additional material corporate developments at this time.
About Luminar Media Group, Inc.
Luminar Media Group, Inc. (OTCID:LRGR), through its subsidiaries operating under the Fortun brand (FortunCo, LLC; Fortun Advance, LLC; Fortun Funding, LLC; Fortun Online, LLC and affiliates), provides revenue-based financing solutions primarily to small and medium-sized businesses across the United States. The Company's mission is to empower underserved entrepreneurs - particularly within Latino and minority business communities - by offering accessible, transparent, and data-driven capital alternatives. Fortun's technology-enabled platform evaluates ACH activity, sales data, and other financial indicators to deliver rapid funding decisions and support sustainable growth.
For more information: www.fortunco.com
CONTACT:
Hayden IR
James Carbonara
(646) 755-7412
james@haydenir.com
Forward-Looking Statements
This press release is provided solely as a general business update and does not constitute an offer to sell or the solicitation of an offer to buy any securities.
Certain statements contained herein are forward-looking statements, including but not limited to statements regarding the Company's anticipated audit timing, financial reporting plans, potential corporate name or ticker symbol changes, possible reverse stock split considerations, board composition efforts, credit facility discussions, registration statement process, and any potential uplisting or national exchange strategy.
These forward-looking statements are based on current expectations, assumptions, and internal planning, all of which are subject to substantial risks, uncertainties, regulatory review, market conditions, third-party actions, and other factors, many of which are outside the Company's control. There can be no assurance that any audit will be completed by any particular date, that any registration statement will become effective, that any financing facility will be secured, that any corporate action will occur, or that the Company will satisfy the requirements for or successfully complete any uplisting or exchange listing.
Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update these statements except as required by applicable law.
SOURCE: Luminar Media Group, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/luminar-media-group-fortun-provides-general-business-update-on-corpo-1147328
