Q2 2023 - Company Highlights
- Bridge Round Financing: The company raised $1,300,000 (USD) of bridge round capital during Q2 ’23, as well as $887,000 (USD) since June 30, 2023.
- Planned Financing: The company has an up to $20 Million Equity Financing Agreement in place with Pacific Lion, upon the effectiveness of its next S1 filing.
- Retiring Debt: The company has retired over $20 Million in debt since the start of Calendar Year ’23. A bulk of the remaining debt is being restructured in a manner consistent with our goal of uplisting in the future to a major national exchange.
- Key Sales Wins: In July ’23, the company secured an important sales win with Arena Football League (AFL) for a technology and ticketing contract through the 2028 season that will result in ticketing revenue to HUMBL on every ticket sold.
- Reduction of Operating Expenses: The company continues to reduce its operating expenses, leaving its HQ lease in San Diego, CA, trimming additional payroll and vendor expenses.
- Subsidiary Spinouts: Subsidiaries had a high cost-of-revenue, resulting in more overhead, more operating expenses and significant contributions to our debt.
- Revenue Sources: Company is migrating from subsidiary revenues to organic revenues, such as our upcoming AFL contract. This will take time – but will lead to better margins and more control in the future.
- New Revenue Segments: The company continues to drive over $150,000 in quarterly revenues on HUMBL Authentics for the calendar year 2023, emphasizing verified merchandise sales on the HUMBL platform.
- Marketing and Partnerships: The company continues to lean into its marketing partnerships with athletes from UFC, MMA, MLB, WNFC and more.
