MLFB Provides Financial and Operational Updates In Advance of the 2023 Season

Rhea-AI Summary

Major League Football, Inc. (MLFB) announced the SEC's approval of its Form S-1 Registration Statement on December 28, 2022. This allows MLFB to raise up to $5 million through common stock sales, providing essential funding to cover obligations and prepare for the upcoming 2023 season. The company is finalizing negotiations for venues and broadcasting contracts with major networks, while its team remains committed to operational readiness. Equipment has been relocated for inventory and reconditioning as MLFB aims to pay off creditors.

Positive

• SEC approved Form S-1 Registration Statement, facilitating up to $5 million in funding.
• Funding will be used to settle obligations and support preparations for the 2023 season.
• Negotiations with major TV networks for game broadcasts are underway.

Negative

• None.

LAKEWOOD RANCH, FL / ACCESSWIRE / January 5, 2023 / Frank Murtha, President and CEO of Major League Football, Inc. ("MLFB") announced today that the Securities and Exchange Commission ("SEC") approved the MLFB Form S-1 Registration Statement effective on December 28, 2022. The Form S-1 approval with two identical Common Stock Purchase Agreements, allow MLFB, subject to the terms and conditions set forth, to sell to the two Investors up to a combined Five Million Dollars ($5,000,000) of registered common stock, $0.001 par value per share (the "Common Stock"). This represents a potential $2,500,000 for each investor. We have a right to sell shares to these two investors in seven (7) day periods at a price tied to the MLFB stock trading price. This infusion of cash will allow MLFB to pay off certain obligations and continue our preparation for the 2023 season.

We remain in negotiations with our planned venues to set dates and times for our planned four team League. These venues will be announced when they are signed.

Additionally, we are in discussions with a major TV network to broadcast our games, several others have expressed an interest in doing so also. We will announce our two marketing and media firms when finalized, both have excellent national and international reputations in their respective fields. They will be heading up our marketing and sponsorship programs.

As noted previously, our key coaches, staff and executives remain committed and are working diligently on preparations for our planned 2023 season. We have moved our equipment used in the previous football camp in Mobile, Alabama, to our secured Texas warehouse for inventory and reconditioning, as needed. With the infusion of the Form S-1 funds, we plan to make payments to trade creditors in Mobile and elsewhere from when we suspended the 2022 football season. We will provide further updates when appropriate.

Finally, while we are developing the MLFB website, all of the most recent filings, archived press releases, stock data, and the opportunity to follow MLFB by email can be accessed at MLFB.pro.

Contact:

Frank Murtha, CEO
F.murtha@mlfb.com

Martin Ryan, IR
martin@emerginggrowthservices.com
(952) 653-1888

SOURCE: Major League Football, Inc.

View source version on accesswire.com:
https://www.accesswire.com/734212/MLFB-Provides-Financial-and-Operational-Updates-In-Advance-of-the-2023-Season

FAQ

What is the significance of MLFB's Form S-1 approval?

The approval allows MLFB to raise up to $5 million by selling common stock, providing necessary funds for operations.

How will the funds from the Form S-1 be used by MLFB?

The funds will be used to pay off obligations and support preparations for the upcoming 2023 football season.

Is MLFB negotiating with any TV networks?

Yes, MLFB is in discussions with major TV networks to broadcast their games.

What are MLFB's plans for the 2023 season?

MLFB plans to finalize venue arrangements and continues preparations through the current negotiations and funding.

How much funding can MLFB potentially raise from investors?

MLFB can raise up to a combined $5 million from two investors as per the terms of the Form S-1.