NEW YORK, Aug. 26, 2024 (GLOBE NEWSWIRE) -- AB International Group Corp. (OTC: ABQQ), an intellectual property (IP) and movie investment and licensing firm, today announced a repurchase of 50,296,980 shares of common stock for cancelation. Its positive cash flow continues to come from net profitability to enable the repurchase of more shares in the near future.
On August 21, 2024, AB International Group Corp. (the “Company”) entered into Repurchase Agreements with seven shareholders, all non-affiliates of the Company, pursuant to which the Company agreed to repurchase shares of their Common Stock, $0.001 par value, amounting to 50,296,980 shares for cancelation. The price to be paid by the Company under the Repurchase Agreements is $50,297, which will be funded with cash on hand.
The Company’s positive cash flow continues to come from net profitability to enable repurchasing more shares in the near future.
The Company will open ABQQ.tv for industry learnings to allow the film’s owner to upload to the website. This empowerment service called “Cinematic Language Immersion” Partnering is a feature where viewers can watch a movie or series, and through an interactive overlay, learn the language or cultural nuances in real-time. Think of it as educational entertainment where you're not just watching, you're learning. ABQQ.tv has constructed an official launch, taking place in November. This service is working with the broadcasting rights owners of more than 1000 movies. This greatly alleviates the financial pressure on the purchase of streaming movie rights.
This unique video streaming service could imply opportunities for product placement or embedded marketing within their content, especially given our focus on movie licensing and streaming. This service could be leveraged for embedded marketing, where brands or products are integrated into the movies.
There's a noted trend towards embedded marketing, especially in content that can be streamed or viewed online, which ABQQ.tv's service model would fit into. This includes product placements that are relevant to the storyline or context, ensuring authenticity and integration.
Some discussions around embedded marketing highlight that it's not always about cash exchange but can involve barter trades. ABQQ.tv, with its focus on content, might engage in similar practices where brands could be featured in exchange for services or products. ABQQ.tv could allow brands to place their products within the movies, aligning with the content's narrative for authenticity.
Brands might be integrated into the broader content strategy of ABQQ.tv, not just in movies but potentially in promotional content, trailers, or special features.
ABQQ.tv might engage in partnerships where marketing involves more than just placement, like co-branded content or events tied to movie releases.
“The initial launch of the business is based on the number of films participated, with an expected monthly revenue of $150,000 to $250,000, with revenues set to increase significantly as the number of new films come online,” Chiyuan Deng, ABQQ’s CEO, stated.
About AB International Group Corp.
AB International Group Corp. is an intellectual property (IP) and movie investment and licensing firm, focused on acquisitions and development of various intellectual property. We are engaged in acquisition and distribution of movies. The Company operates AB Cinemas, physical movie theaters currently in NY with plans to expand nationwide (www.abcinemasny.com). The company also owns ABQQ.tv which is a movie and TV show online streaming platform. ABQQ.tv generates revenue through a hybrid subscription model and advertising model like other online streaming platforms.
For additional information visit www.abqqs.com, www.abcinemasny.com and www.ABQQ.tv.
Forward-Looking Statements
This press release contains “forward-looking statements” that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements relating to changes to the Company’s management team and statements relating to the Company’s transformation, financial and operational performance including the acceleration of revenue and margins, and the Company’s overall strategy. Because forward-looking statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the possibility of business disruption, competitive uncertainties, and general economic and business conditions in AB International Group markets as well as the other risks detailed in company filings with the Securities and Exchange Commission. AB International Group undertakes no obligation to update any statements in this press release for changes that happen after the date of this release.
Investor Relations Contact:
Charles Tang
(852) 2622 2891
corp@abqqs.com
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