Latest news with #LuminarMediaGroup
Yahoo
20-05-2025
- Business
- Yahoo
Fortun Marks First Anniversary With $6.4 Million Funded, 1,000 Small Businesses Supported, and National Footprint Established
MIAMI, FL - May 20, 2025 (NEWMEDIAWIRE) - Fortun, the fintech division of Luminar Media Group, Inc. (OTCMARKETS: LRGR), celebrates its first anniversary, marking a pivotal year of rapid growth, execution, and nationwide impact. Since its formation in late May 2024, Fortun has transformed from a startup to a trusted funding partner for small businesses across the United States, including Puerto Rico. Key Milestones Achieved (May 2024 May 2025): $6.4 million in working capital deployed Nearly 1,000 funding transactions completed $5.3 million in receivables $4.7 million+ in capital recovered $5.6 million+ in total assets Presence in 38 states + Puerto Rico Corporate headquarters established in Miami, FL Successful launch of Fortun Online, a digital capital access platform Strategic advisory partnership secured Yoel Damas, President and CEO of Luminar Media Group, stated:"Fortun started as a bold idea - to bridge the capital gap for small businesses. One year later, we've deployed over $6.4 million, completed nearly 1,000 transactions, and built a platform that delivers real results. This is just the beginning as we continue to redefine what small business financing can be." Juan Sese, VP of Finance added:"This first year was about building momentum and proving our model. Every dollar funded represents an opportunity created, and every dollar collected reflects the trust we've earned. With over $5.6 million+ in total assets and presence in 38 states + Puerto Rico, we're just getting started." About Luminar Media Group, Inc/Fortun CorpFortun, a division of Luminar Media Group, Inc. (OTCMARKETS: LRGR), is a fintech platform headquartered in Miami, Florida, offering flexible, non-bank working capital solutions to small businesses across the U.S. Through its FortunCo, Fortun Advance, and Fortun Online subsidiaries, the company delivers efficient, responsible financing to support entrepreneurs and business owners nationwide. Forward-Looking StatementsThis press release may include forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Investors are encouraged to review Luminar Media Group's public filings for additional disclosures. Contact:Robert RicoInvestor RelationsPhone: (305) 283-9237Email: robert@ us on X: @FortunCorp
Associated Press
02-04-2025
- Business
- Associated Press
Luminar Media Group/Fortun Releases Q1 2025 Financial Results
NEWMEDIAWIRE) - Luminar Media Group, Inc. ('Luminar') (OTCMARKETS: LRGR), along with its subsidiaries FortunCo LLC, Fortun Advance LLC, Fortun Funding LLC, and Fortun Online, LLC (collectively, 'Fortun'), a leading group of fintech companies providing working capital and financial services to underserved businesses, is proud to announce its Q1 2025 financial results. Total assets now exceed $4.5 million. Building on a robust Q4 2024, Luminar continues to achieve remarkable performance driven by improvements in operational efficiency and strong customer demand including repeat business. Performance this quarter exceeded expectations; Luminar is experiencing growth in all business segments driven by increased demand for Fortun services. Luminar anticipates continued growth quarter-over-quarter and expects to expand its 2025 target goals. Q1 2025 Financial Results • Total Funded: $1,879,704.34 • Total Automated Clearing House (ACH) Funds Received: $1,797,612.30 (60% growth vs. Q4, improved collection process) • Total Accounts Receivable (AR): $3,997,197.21 (32.4% growth vs. Q4) • Total Cash on Hand: $570,128.29 • Total Assets (AR + Cash): $4,567,325 • Number of Deals Funded in Q1: 261 (18% higher than Q4) • Total States Funded to Date: 37 plus Puerto Rico Business Performance Update As of March 31, 2025, Fortun Advance's total assets have reached $4,567,325, including $570,128.29 in cash and $3,997,197.21 in receivables—a significant rise since Luminar Media Group's acquisition of Fortun in May 2024. Market Insight Small businesses are a vital part of the U.S. economy, contributing over $800 billion annually. The increasing number of small business owners highlights their essential role in economic growth and job creation, driving demand for accessible financing solutions like those offered by Fortun. Juan Sese, Chief Financial Officer for Fortun Advance, commented: 'Crossing the $4.5 million mark in total assets is a significant achievement for us. Our Q1 2025 performance underscores the strength of our business model, and we're confident that Q2 will bring even more growth as we continue to support small businesses with innovative financial solutions.' Yoel Damas, President and CEO, added: 'Fortun remains laser-focused on delivering strong, sustainable growth and maximizing shareholder value. This quarter, we achieved solid expansion across multiple sectors and strengthened our financial performance. We strategically dedicated this quarter to targeting key acquisitions and partnerships that will fuel accelerated expansion in the months ahead. As these strategic initiatives take effect, we will be on track for even faster growth than initially projected for the year and well-positioned to capitalize on other opportunities as they arise.' About Luminar Media Group, Inc. Headquartered in Miami, Florida, Luminar Media Group, Inc. is a pioneering fintech company specializing in financial solutions for underserved communities, with a focus on Latino and minority-owned businesses. Through innovation and excellence, Fortun empowers businesses to drive economic growth. Forward-Looking Statements This release contains forward-looking statements that reflect Luminar Media Group's current strategies and expectations for future performance. Actual results may differ materially due to various risks and uncertainties. Investors are encouraged to review the Company's filings with the SEC for further information. The financial data presented in this release is subject to review by independent accountants and may be adjusted before final reporting. Please note that the information provided is preliminary and should not be considered final until it has undergone a full review. For more information, please contact: Robert Rico Investor Relations
