Latest news with #PankajKhanna
Yahoo
16 minutes ago
- Business
- Yahoo
Heidmar Maritime Holdings Corp. Reports Results For the Quarter Ended March 31, 2025
ATHENS and NEW YORK, June 10, 2025 (GLOBE NEWSWIRE) -- Heidmar Maritime Holdings Corp. (the "Company" or "Heidmar") (NASDAQ: HMR) today reported its results for the quarter ended March 31, 2025. First Quarter 2025 Highlights Total net revenues of $5.8 million. Net loss attributable to shareholders of $6.0 million or $0.1 per share Adjusted net income(1)attributable to shareholders for the quarter of $875,194 or $0.02 income per share, excluding non-cash expense of $3.9 million relating to the fair value of the earnout shares that will be issued to certain of the Company's shareholders upon the satisfaction of certain conditions set forth in the business combination agreement with MGO Global Inc, the non-cash bonus of stock based compensation of $1.5 million and the amortization of Heidmar's 2025 Equity Incentive Plan of $1.5 million. Adjusted EBITDA (1)of $1.2 million. (1) Adjusted EBITDA, Adjusted net income attributable to shareholders and Adjusted income per share attributable to shareholders are not measurements recognized under US GAAP (GAAP) and should not be used in isolation or as a substitute for Heidmar's financial results presented in accordance with GAAP. See 'Non-GAAP Financial Measures' later in this Press Release for the definitions and reconciliation of these measurements to the most directly comparable financial measures calculated and presented in accordance with GAAP. FIRST QUARTER 2025 RESULTS COMPARED TO FIRST QUARTER 2024 The total revenues earned mainly from commissions, management fees and time charter hires were $5.8 million for the three months ended March 31, 2025, down $2.8 million from $8.6 million in the same period of 2024, primarily due to the decrease in the number of vessels under management and the termination of two time-charter syndication agreements. Pankaj Khanna, Chief Executive Officer of Heidmar, commented: "Q1 is the first quarter we are releasing our results after the business acquisition with MGO and the results reflect the accounting treatment of the deal, annual performance bonuses and the long-term equity incentive plan. Excluding these effects, the business environment was quite challenging in the quarter. The uncertainty created by the constant news flow and tariffs led to a decline in freight rates for tankers. With freight rates declining, asset prices have also trended down to varying degrees based on the age of the vessel with older vessels seeing significant decline to the tune of 30-35% as compared to the summer of 2024. The decline in asset values has seen new players entering the market looking for services on technical and commercial management, and we are working closely with some investors to take advantage of this opportunity and close deals. Levels for time chartering (leasing) crude and product tankers for short to medium term charters have also softened and present an opportunity for us to rebuild our Time Charter book. We are actively bidding on some modern vessels for medium term charters and hope to conclude 1-2 ships in the coming months. For the future, we remain committed to our stated strategy of two main lines of business i.e. maritime services for bulk shipping and select specialist sectors, and project development with investors where Heidmar arranges deals to acquire assets with investors where we coinvest and provide commercial, technical, or corporate services. We are working on growth opportunities on both lines of the business and hope to conclude deals within the second half of the year.' Conference Call details: Our management team will host a conference call to discuss our financial results on Wednesday, June 11, 2025, at 8:00 a.m. Eastern Time (ET). Participants should dial into the call 10 minutes before the scheduled time using the following numbers: +1 877 405 1226 (US Toll-Free Dial In) or +1 201 689 7823 (US and Standard International Dial In), or +0 800 756 3429 (UK Toll Free Dial In). Please quote 'Heidmar' to the operator and/or conference ID 13754281. Click here for additional participant International Toll-Free access numbers. Alternatively, participants can register for the call using the call me option for a faster connection to join the conference call. You can enter your phone number and let the system call you right away. Click here for the call me option. Slides and audio webcast: There will also be a live, and then archived, webcast of the conference call and accompanying slides, available through the Company's website. To listen to the archived audio file, visit and click on Financials & Presentations. Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast. About Heidmar, Inc. Celebrating its 40th anniversary this year, Heidmar is an Athens based, commercial and pool management business servicing the crude and product tanker market and is committed to safety, performance, relationships and transparency. With operations in Athens, London, Singapore, Chennai, Hong Kong and Dubai, Heidmar has a reputation as a reliable and responsible partner with a goal of maximizing our customers' profitability. Heidmar seeks to offer vessel owners a "one stop" solution for all maritime services in the crude oil, refined petroleum products and dry bulk shipping sectors. Heidmar believes its unique business model and extensive experience in the maritime industry allows the Company to achieve premier market coverage and utilization, as well as provide customers in the sector with seamless commercial transportation services. For more information, please visit Forward-Looking Statements This release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the Company. All statements other than statements of historical facts contained in this press release, including statements regarding the Company's future results of operations and financial position, business strategy, prospective costs, timing and likelihood of success, plans and objectives of management for future operations, future results of current and anticipated operations of Heidmar are forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management's examination of historical operating trends, data contained in the Company's records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company's control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. In addition to these important factors, other important factors that, in the Company's view, could cause actual results to differ materially from those discussed in the forward-looking statements include unforeseen liabilities, expansion and growth of the Company's operations, the failure of counterparties to fully perform their contracts with the Company, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker or drybulk vessel capacity, changes in the Company's operating expenses, demand for the Company's managed fleet, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general international geopolitical conditions and conflicts, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off‐hires, and other factors. Please see the Company's filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond the Company's control, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Company does not give any assurance that it will achieve its expectations. CONTACT INFORMATION: Investor Relations/Media Contact: Nicolas Bornozis / Daniela GuerreroCapital Link, Inc.230 Park Avenue, Suite 1540New York, N.Y. 10169Tel.: (212) 661-7566Email: heidmar@ HEIDMAR MARITIME HOLDINGS TABLES Explanatory Note On February 20, 2025, Heidmar Maritime Holdings Corp.'s (the 'Company') common shares commenced trading on the Nasdaq Capital Market, or Nasdaq, under the symbol 'HMR' through a business combination transaction involving Heidmar Inc. ('HMI') and MGO Global Inc. ('MGO'), a Nasdaq-listed company. The Company and HMI are entities under common control. Pursuant to U.S. generally accepted accounting principles ('U.S. GAAP'), this transaction is accounted for as a business acquisition, with Heidmar Inc. being the accounting acquirer and MGO the acquired entity. Accordingly, the historical interim financial information of Heidmar Inc. has been carried forward as the historical interim financial information of the Company. The interim financial information for the three months ended March 31, 2025, includes the results of operations and financial position of Heidmar Maritime Holdings Corp. and its subsidiaries, Heidmar Inc. and MGO. Comparative interim financial information for the three months ended March 31, 2024, reflects only the historical financial results of Heidmar Inc., the accounting acquirer. The results of MGO for the comparative period are not presented within the comparative financial information, as MGO is accounted for as the acquired entity and its historical interim financial information do not constitute the predecessor interim financial information of the Company. The Company consolidates MGO from the date of acquisition forward. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three months ended March 31, 2025 Three months ended March 31, 2024 Revenues: Trade revenues $834,047 $680,643 Trade revenues – related parties $1,504,138 $2,580,653 Time charter revenues $3,235,407 $4,700,982 Syndication income, related party – $664,621 Revenues, net $262,471 – Total revenues $5,836,063 $8,626,899 Expenses/(Income): Cost of revenues $61,941 – Voyage expenses $8,495 $624,963 Gain on inventories $(174,453) – Operating lease expenses $2,441,721 $2,453,428 Charter-in expenses – $931,912 Other operating income $(728,004) – General and administrative expenses $6,087,186 $2,235,063 Depreciation and amortization of intangible asset $19,328 $5,087 Total expenses $7,716,214 $6,250,453 Operating (loss)/income $(1,880,151) $2,376,446 Other income / (expenses), net: Interest income, net $130,131 $98,278 Interest income – related parties $5,060 – Foreign exchange gains / (losses) $54,706 $(140,995) Finance costs $(407,450) $(523,450) Finance costs, related party – $83,660 Share of loss from joint venture $(49,439) – Other expenses, net $(3,885,877) – Total other expenses, net $(4,152,869) $(649,787) Net (loss)/income from continuing operations – controlling interest $(6,033,020) $1,726,659 Net loss from discontinued operations $(100) – Net (loss)/income $(6,033,120) $1,726,659 UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET DATA March 31, 2025 December 31, 2024 ASSETS (unaudited) (audited) Cash and cash equivalents $ 19,159,218 $ 20,029,506 Other current assets 12,553,255 10,222,269 Investment in joint venture 76,544 1,569,573 Other noncurrent assets 15,721,579 5,300,148 Total assets $ 47,510,596 $ 38,121,496 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable $ 3,581,534 $ 1,730,308 Other liabilities 18,153,057 18,175,778 Total stockholders' equity 25,776,005 18,215,410 Total liabilities and stockholders' equity $ 47,510,596 $ 38,121,496 OTHER FINANCIAL DATA (unaudited) Three months ended March 31, 2025 2024 Net cash provided by operating activities $ 3,131,604 4,320,529 Net cash provided by/(used in) investing activities 3,618,932 (184,171 ) Net cash used in financing activities $ (8,047,766 ) (19,217 ) NON-GAAP FINANCIAL MEASURES Reconciliation of Net (Loss) / Income to Adjusted EBITDA (In U.S. Dollars) Q1 2025 Q1 2024 Net (loss) / income (6,033,120 ) 1,726,659 Interest and finance cost, net 272,259 508,832 Depreciation and amortization 19,328 5,087 EBITDA (5,741,533 ) 2,240,578 Stock-based compensation 2,990,547 - Non-cash expense relating to the fair value of the earnout shares 3,917,767 - Adjusted EBITDA 1,166,781 2,240,578 Adjusted EBITDA reconciliation:Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") represents the sum of net (loss)/income, interest and finance costs, net, depreciation and amortization and, if any, income taxes during a period. EBITDA is not a recognized measurement under U.S. GAAP. Adjusted EBITDA represents EBITDA adjusted to exclude stock-based compensation and the non-cash expense relating to the fair value of the earnout shares, which the Company believes are not indicative of the ongoing performance of its core operations. We present EBITDA and Adjusted EBITDA as we believe that these measures are useful to investors as a widely used means of evaluating operating profitability. Management also uses these non-GAAP financial measures in making financial, operating and planning decisions and in evaluating the Company's performance. EBITDA and Adjusted EBITDA as presented here may not be comparable to similarly titled measures presented by other companies. These non-GAAP measures should not be considered in isolation from, as a substitute for, or superior to, financial measures prepared in accordance with U.S. GAAP. Reconciliation of Net (Loss)/ Income attributable to shareholders to Adjusted Net Income(In U.S. Dollars) Q1 2025 Q1 2024 Net (loss) / income (6,033,120 ) 1,726,659 Unrealized expense relating to Fair value adjustment of earnout Shares 3,917,767 - Stock based compensation 2,990,547 - Adjusted net income 875,194 1,726,659 Heidmar considers Adjusted net income attributable to shareholders, to represent net loss/ income before non-cash loss on the fair value adjustments of the earnout shares and amortization of stock-based compensation. We have included herein Adjusted fair value of earnout shares and amortization of stock based compensation because we believe they assist our management and investors by increasing the comparability of the Company's fundamental performance from period to period by excluding the potentially disparate effects between periods of unrealized loss on the fair value adjustments of the earnout shares and amortization of stock based compensation which may significantly affect results of operations between periods. Adjusted net income attributable to shareholders and Adjusted income per share attributable to shareholders do not represent and should not be considered as an alternative to net loss/ income attributable to shareholders or loss per share attributable to shareholders, as determined by GAAP. The Company's definition of Adjusted net income attributable to shareholders and Adjusted income per share attributable to shareholders may not be the same as that used by other companies in shipping or other industries. Adjusted net income attributable to shareholders and Adjusted income per share attributable to shareholders are not adjusted for all non-cash income and expense items that are reflected in our statement of cash in to access your portfolio
Indian Express
20-05-2025
- Science
- Indian Express
Lakshadweep atolls shaped and reshaped by natural phenomena, biological and human activity: IITGN study
Researchers from the REEFS Lab at the Indian Institute of Technology, Gandhinagar (IITGN), who studied the processes, which form and maintain two of Lakshadweep's atolls — Agatti and Kavaratti — in Kavaratti, particularly near a dredging channel, observed a noticeable shift in sediment composition. The shift is marked by a decline in coral clasts and an increase in contributions from Halimeda and molluscs, concluding that human activity has left its mark on these delicate systems. The researchers, through fieldwork and analysis, found that more than 95 per cent of the lagoon sediments in Agatti and Kavaratti consist of biogenic material, composed mainly of coral, mollusc, and foraminiferal fragments, which are less than 2 mm in size. These sediments, known as biodetrital grainstone, reflect a system primarily driven by biological productivity rather than inorganic processes. Interestingly, unlike these atolls, the ones in the Maldives show a greater contribution from calcareous algae such as Halimeda, marking a distinct difference in sediment sources across the atolls. The study, published in Marine Geology, further revealed how local hydrodynamics — waves, currents, and tides — interact with biological zones to shape the patterns of sediment transport and deposition. Lighter particles, like mollusc fragments, tend to travel farther, while finer materials settle in calmer parts of the lagoon. These patterns, combined with the lagoon's physical structure, create zones of sediment accumulation and erosion. The shallow lagoons of Agatti and Kavaratti, with depths averaging just 2 to 4 metres, are particularly sensitive to these processes. 'We observed that coral clasts were less abundant in areas influenced by dredging,' said Shradha Menon, a PhD student and first author of the study. 'This suggests that anthropogenic disturbances, such as dredging and pollution, are altering the sediment-producing ecosystem, potentially affecting the island's ability to sustain itself.' Focusing on spatial patterns, sediment grain sizes, and dominant biological contributors, the study paints a detailed picture of how these islands are being shaped and reshaped by natural phenomena and biological as well as human activity. 'Our goal is to map spatial variability in sediment type produced by different organisms and how the natural forcings and anthropogenic activity influences the sediment production, accumulation, and their redistribution across the length and breadth of the atoll lagoons and islands,' said Prof Pankaj Khanna, Associate Professor in the department of Earth Sciences at IITGN and lead investigator of the study. 'This helps us understand not only how islands are built, but how stable they are over time.' From corals, molluscs and algae to tiny shell-forming creatures like foraminifera, the ocean constantly produces and deposits calcium carbonate, the material that forms their skeletons and shells. As these organisms die, their remains accumulate and gradually break down into sand-sized particles. Over time, these sediments build up to create the very landmass of atoll islands like those in Lakshadweep. This continuous process of biological calcium carbonate production is referred to by geologists as a carbonate factory, a term that captures how marine life effectively drives the production of island-building material. The study investigated the spatial variation in the functioning of these carbonate factories across different geomorphic zones within the lagoons, such as patch reefs, seagrass meadows, and reef flats. Each of these zones supports distinct biological communities and plays a different role in sediment production and accumulation. 'These zones not only influence the types of organisms that thrive there but also determine the nature and quantity of sediment that enters the lagoon system,' explained Shradha Menon, a PhD student and first author of the study. By placing their findings within a broader regional context, the team compared Lakshadweep's sediment dynamics with those observed in other Indian Ocean atolls, particularly the Maldives. While the basic biological processes of carbonate sediment production are shared, local ecological and geomorphological differences lead to distinct patterns in sediment composition and distribution. 'Our work highlights the importance of understanding site-specific factors,' said Saikat Kumar Misra, a PhD student and co-author of the study. 'Even subtle variations in lagoon structure or water movement can significantly impact sediment production and transport.' As sea-level rise, coral bleaching, and expanding coastal development continue to pressure these ecosystems, the study underscores the need for locally informed conservation strategies. Safeguarding sediment-producing habitats such as coral reefs, patch reefs, and seagrass meadows is essential not only for marine biodiversity but also for the long-term physical stability of the islands. Sustaining these natural processes will help ensure that Lakshadweep's islands remain resilient in the face of change. Lakshadweep, India's only chain of coral atolls, is more than a stretch of tranquil beaches and turquoise waters. These low-lying islands are living geological records, built over millennia by the remnants of marine life. As climate change accelerates and sea levels continue to rise, it becomes increasingly important to understand what sustains these fragile landforms and how their natural balance may be shifting, Prof Khanna added.
Associated Press
02-04-2025
- Business
- Associated Press
Heidmar Joins Nasdaq for Closing Bell
ATHENS, Greece and NEW YORK, April 02, 2025 (GLOBE NEWSWIRE) -- Heidmar Maritime Holdings Corp. ('Heidmar') (NASDAQ: HMR), is pleased to announce that its senior leadership team will ring the Nasdaq Stock Market Closing Bell today at the Nasdaq MarketSite in Times Square, New York. Mr. Pankaj Khanna, CEO of Heidmar, commented: 'We are honored to ring the Nasdaq Closing Bell in celebration of Heidmar's strategic progress and the renewed momentum we are building across our platform.' The Closing Bell ceremony will be broadcast live on Wednesday, April 2nd, 2025 beginning at approximately 3:50 PM ET and can be viewed at: About Heidmar, Inc. Celebrating its 40th anniversary this year, Heidmar is an Athens based, commercial and pool management business servicing the crude and product tanker market and is committed to safety, performance, relationships and transparency. With operations in Athens, London, Singapore, Chennai, Hong Kong and Dubai, Heidmar has a reputation as a reliable and responsible partner with a goal of maximizing our customers' profitability. Heidmar seeks to offer vessel owners a 'one stop' solution for all maritime services in the crude oil, refined petroleum products and dry bulk shipping sectors. Heidmar believes its unique business model and extensive experience in the maritime industry allows the Company to achieve premier market coverage and utilization, as well as provide customers in the sector with seamless commercial transportation services. For more information, please visit Investor Relations/Media Contact: Nicolas Bornozis / Daniela Guerrero Capital Link, Inc. 230 Park Avenue, Suite 1540 New York, N.Y. 10169 Tel.: (212) 661-7566
Yahoo
19-02-2025
- Business
- Yahoo
Heidmar and MGO Global Successfully Complete Business Combination
MGO Global Inc. (Nasdaq: MGOL), a digitally-native, lifestyle brand portfolio company, ('MGO,' "MGO Global' or the 'Company'), and Heidmar, Inc., a global commercial and pool management business serving the drybulk, crude oil and refined petroleum product tanker market ("Heidmar"), today jointly announced the successful completion of the business combination (the 'Business Combination'), resulting in each of MGO and Heidmar becoming wholly owned subsidiaries of Heidmar Maritime Holdings Corp. ('Holdings'). Holdings will commence trading on The Nasdaq Capital Market tomorrow morning, February 20, 2025, under the ticker symbol 'HMR'. Commenting on the closing of the transaction, Pankaj Khanna, Chief Executive Officer of Holdings, noted, 'First we'd like to acknowledge and thank the teams of people who worked diligently and collaboratively around the clock to successfully close this Business Combination. Our resulting new Nasdaq listing under ticker 'HMR' represents a vital step forward on what we believe will be a transformative path for Heidmar, positioning our Company to deliver new and enduring value to all of our stakeholders while empowering us to set entirely new standards of excellence for our industry.' Advisors Maxim Group LLC is serving as the exclusive financial advisor to MGO in connection with the Merger and Seaborne Capital Advisors is serving as exclusive financial advisor to Heidmar. Sichenzia Ross Ference Carmel, LLP is serving as legal counsel to MGO and Seward & Kissel LLP is serving as legal counsel to Heidmar and Holdings. About Heidmar, Inc. Celebrating its 40th anniversary in 2024, Heidmar is an Athens based, first-class commercial and pool management business servicing the crude and product tanker market and is committed to safety, performance, relationships and transparency. With operations in Athens, London, Singapore, Chennai, Hong Kong and Dubai, Heidmar has a reputation as a reliable and responsible partner with a goal of maximizing our customers' profitability. Heidmar seeks to offer vessel owners a "one stop" solution for all maritime services in the crude oil, refined petroleum products and dry bulk shipping sectors. Heidmar believes its unique business model and extensive experience in the maritime industry allows the Company to achieve premier market coverage and utilization, as well as provide customers in the sector with seamless commercial transportation services. For more information, please visit About MGO Global Inc. MGO Global is actively engaged in building a portfolio of independent, digitally native, lifestyle brands, which are unique and differentiated, yet all defined by distinctive, high-quality products and a shared commitment to delivering high-touch customer experiences across its ecommerce and wholesale channels. MGO is currently comprised of two business units: Americana Liberty, which markets a growing, high-end line of thoughtfully curated home and outdoor products, including Stand Flagpoles; and MGO Digital, which leverages data analytics, advanced technology-enabled marketing and our leadership's industry relationships and expertise to identify, incubate and introduce to market new, authentic lifestyle brand concepts. For more information on MGO, please visit Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the transaction between Holdings, MGO and Heidmar. All statements other than statements of historical facts contained in this press release, including statements regarding Holdings', MGO Global's or Heidmar's future results of operations and financial position, Holdings', MGO's and Heidmar's business strategy, prospective costs, timing and likelihood of success, plans and objectives of management for future operations, future results of current and anticipated operations of Holdings, MGO and Heidmar, and the expected value of the combined company after the transactions, are forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to, the following risks relating to the proposed transaction: the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction agreement; the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of MGO's securities; the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction agreement; the inability to complete the transactions contemplated by the transaction agreement, including due to failure to obtain approval of the shareholders of MGO or other conditions to closing in the transaction agreement; the inability to obtain or maintain the listing of Holdings ordinary shares on Nasdaq following the transaction; the risk that the transactions disrupt current plans and operations of MGO as a result of the announcement and consummation of the transactions; the ability to recognize the anticipated benefits of the transactions, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth economically and hire and retain key employees; costs related to the transactions; changes in applicable laws or regulations; the possibility that Holdings, Heidmar or MGO may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties to be identified in the proxy statement/prospectus (when available) relating to the transactions, including those under "Risk Factors" therein, and in other filings with the SEC made by Holdings and MGO. Moreover, Holdings, Heidmar and MGO operate in very competitive and rapidly changing environments. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond Holdings', Heidmar's and MGO's control, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and except as required by law, Holdings, Heidmar and MGO assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. None of Holdings, Heidmar or MGO gives any assurance that either Heidmar or MGO or Holdings will achieve its expectations. CONTACT INFORMATION: MGO Global Inc. Heidmar, Inc. Dodi Handy, Director of Communications Nicolas Bornozis, Investor Relations/Media Telephone: 407-960-4636 Telephone: 212-661-7566 Email: ir@ Email: heidmar@ in to access your portfolio
