NEW YORK--(BUSINESS WIRE)--Alliance MMA, Inc. ("Alliance MMA" or the "Company") (NASDAQ:AMMA), the only publicly-traded professional mixed martial arts (MMA) company that unifies elite regional promotions and aspiring MMA champions, today announced financial results for the third quarter ended September 30, 2017.
“While we did not realize another gain in quarterly revenue, such a result was not unanticipated based on well-established industry seasonality indices,” said Paul K. Danner, Chief Executive Officer of Alliance MMA. “However, looking forward we believe that with our recent acquisition of Victory Fighting Championship and their Ultimate Fighting Championship FIGHT PASS relationship, as well as our continued emphasis on expanding our geographic presence through organic growth and acquisition into the top Nielsen Designated Market Areas (“DMA”), our fourth quarter performance is expected to result in tangible improvement. Moreover, we recently announced a vigorous focus on maximizing local event sponsorship opportunities, and will continue our existing efforts to attract national brand sponsorships and pursue broadcast video distribution prospects, each of which could significantly bolster the Company’s future revenue and profitability.”
John Price, Chief Financial Officer, added, “During the third quarter we produced a total of 23 regional MMA events, a 91% increase over the previous period, even though the summer months have historically been the least productive of the year for our industry. Equally encouraging, we raised nearly $500,000 in early November through a private offering, and the Company filed a $20 million universal shelf registration statement on Form S-3 with the United States Securities and Exchange Commission, which is intended to provide us with additional flexibility to finance future business opportunities, including business acquisitions, through timely and cost-effective access to the capital markets.”
Alliance MMA currently operates branded regional MMA events in 13 of the top 30 Nielsen Designated Market Areas, including each of the top five. With the goal of unifying elite regional promotions and fostering the development of aspiring MMA champions, the Company produces professional MMA events through New Jersey-based Cage Fury Fighting Championships, Washington-based Combat Games MMA, Indiana-based Hoosier Fight Club, Tennessee-based V3Fights, Maryland-based Shogun Fights, Ohio-based Iron Tiger Fight Series, Florida-based Fight Time Promotions, Georgia-based National Fighting Championship, Southern California-based SoCa Fights, and Nebraska-based Victory Fighting Championship.
About Alliance MMA, Inc.
Alliance MMA (NASDAQ: AMMA) is a professional mixed martial arts (MMA) company that brings together the best regional productions. Alliance MMA's mission is to identify and cultivate the next generation of fighters and champions for the Ultimate Fighting Championship (UFC) and other premier MMA promotions.
With some of the world’s leading MMA promotions under the Alliance MMA umbrella, the organization aims eventually to host in excess of 125 events per year, showcasing more than 1,000 fighters. Alliance MMA is also dedicated to generating live original sports media content, attracting an international fan base, and securing major brand sponsorship revenue for live MMA events, digital media, and Alliance MMA fighters.
MMA is the world’s fastest-growing sport with worldwide fans of approximately 300 million according to sports marketing research firm Repucom. MMA is a full contact sport that allows a wide range of fighting techniques, including striking and grappling from various martial arts and disciplines including boxing, wrestling, Brazilian jiu jitsu, karate, and Muay Thai. Professional MMA fights are legal and regulated by state athletic commissions in all 50 states.
Alliance MMA, Inc. was incorporated in 2015 for the purpose of acquiring businesses that engage in the promotion of mixed martial arts (MMA) events. In 2016, the company completed an initial public offering that culminated in a listing on the NASDAQ stock exchange. Alliance MMA is the only mixed martial arts promotion company that is publicly-traded.
For more information, visit www.alliancemma.com.
This press release contains forward-looking statements within the meaning of the federal securities laws. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “should,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue” or the negative of these terms or other comparable terminology. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, those discussed under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2016 filed with the Securities and Exchange Commission on April 17, 2017. Alliance MMA encourages you to review other factors that may affect its future results in its other filings with the Securities and Exchange Commission.