Welcome to our dedicated page for Lumnar Media Grp news (Ticker: LRGR), a resource for investors and traders seeking the latest updates and insights on Lumnar Media Grp stock.
Luminar Media Group, Inc. (LRGR) provides innovative fintech solutions focused on revenue-based financing for underserved small businesses, particularly Latino and minority-owned enterprises. This page serves as the definitive source for official company announcements, financial updates, and strategic developments.
Access timely press releases covering earnings reports, strategic partnerships, and technology innovations in small business funding. Investors will find essential updates on capital market activities, regulatory filings, and operational milestones that demonstrate LRGR's commitment to financial inclusion.
All content is curated to help stakeholders track the company's progress in developing alternative financing models through its proprietary digital platforms. Bookmark this page for direct access to verified information about LRGR's initiatives in community-focused fintech solutions.
Luminar Media Group (OTC: LRGR) reports significant growth in its fintech subsidiary, Fortun Advance. Total assets have reached $1,216,491, reflecting a 21.65% ROI since its May 2024 merger. Key metrics show impressive month-over-month growth:
- Accounts Receivable: 98.7% increase
- New Funding Volume: 50.63% growth
- Receivables Deposited: 147% surge
Fortun Advance's business model covers operational costs through fees and commissions, demonstrating scalability. The company has funded businesses across 25 industries in 17 states, with potential for expansion. Juan M. Sese, a banking veteran with 25 years of experience, joins as Vice President of Finance, bringing expertise in finance, business strategy, and private equity.
Luminar Media Group (OTC: LRGR) reports substantial growth in its Business Advance operations for July and August 2024. Key highlights include:
- 245% increase in Business Advances in July compared to June 2024
- Total assets grew to $1,209,237.39 as of August 23, 2024
- Projected total gross receivables of $1,651,953 for Q3 2024
- Expanded team from 14 to 25 members in August
- Over 100 transactions closed as of August 23rd
- Funding extended across multiple states, with Florida accounting for 82.4%
- Secured additional $1 million funding commitment for September
The company projects funding an additional $500,000 in September, potentially generating $745,000 in gross receivables and $130,000 in revenue.
Luminar Media Group (OTC PINK:LRGR) is transitioning into the finance industry by acquiring FortunCo and investing $1 million in fintech solutions for underserved communities. The company will divest its spirits division and rebrand to Fortun Corp. Interim president Yoel Damas plans to appoint seasoned finance professionals to the executive team. Fortun aims to empower underserved and minority-owned businesses with quick, accessible capital, highlighting the potential $1.4 trillion contribution from Latino businesses to the U.S. economy. Fortun targets Hispanic-owned businesses and is negotiating with a national firm for underwriting and regulatory support. The company is also exploring further acquisitions and partnerships to expand its financial solutions.
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