Revenue Growth - Revenue increased by $4.5 million or 136.0% to $7.9 million for the three months ended June 30, 2024, compared to $3.3 million for the same period in 2023[171] - The primary driver of revenue growth was the addition of $3.7 million in reinsurance premium revenue from the merger in February 2024[172] - Revenue for the six months ended June 30, 2024, increased by $6.7 million or 103.0% to $13.1 million from $6.5 million for the same period in 2023[176] Expenses - Total expenses increased by $4.4 million or 46.0% to $13.9 million for the three months ended June 30, 2024, from $9.5 million for the same period in 2023[173] - Total expenses for the six months ended June 30, 2024, increased by $8.6 million or 49.3% to $26.0 million from $17.4 million for the same period in 2023[178] Loss from Operations - Loss from operations decreased by $0.2 million or 2.5% to $6.1 million for the three months ended June 30, 2024, compared to $6.2 million in the prior year[174] - Loss from operations increased by $1.9 million or 17.6% to $12.9 million for the six months ended June 30, 2024, compared to $10.9 million in the prior year[179] Net Loss - Net loss from continuing operations decreased by $0.2 million or 3.3% for the three months ended June 30, 2024, from $6.3 million in the same period of 2023[175] - Net loss from continuing operations increased by $0.1 million or 0.7% for the six months ended June 30, 2024, from $11.1 million in the same period of 2023[180] Merger Impact - The merger with FG Group Holdings, Inc. was completed on February 29, 2024, resulting in a significant increase in reinsurance and asset management operations[165] Cash Flow - For the six months ended June 30, 2024, net cash used in operating activities from continuing operations was approximately $3.2 million, compared to $0.3 million for the same period in 2023[202] - Net cash provided by investing activities from continuing operations was approximately $4.3 million for the six months ended June 30, 2024, compared to $0.1 million for the same period in 2023[203] - Cash used in financing activities during the six months ended June 30, 2024 was approximately $1.3 million, compared to cash provided by financing activities of $2.0 million for the same period in 2023[204] - The cash and cash equivalents from continuing operations at the end of the period were $5.85 million as of June 30, 2024, compared to $4.86 million as of June 30, 2023[201] - The company experienced a net cash outflow for working capital, including an increase in net outflows related to its insurance business[202] - Cash provided by investing activities included $1.9 million from the merger of FGF and FGH, $1.2 million from the sale of equity securities, and $1.3 million from the sale of the Digital Ignition building[203] Accounting Policies - The company recorded no premium deficiency adjustments during the periods presented[194] - The company uses a Probability of Default / Loss Given Default model to calculate an allowance for expected credit losses for its reinsurance balances receivable[184] - The company recognizes revenue when a customer obtains control of promised goods or services, measured as the amount of consideration expected to be received[191] - The company has not established any deferred contract costs as of June 30, 2024 or December 31, 2023[193]

Financial Performance - Revenue for Strong Global Entertainment increased by 18.7% to $8.1 million in the second quarter, driven by higher sales of digital equipment and services[4] - Gross profit for Strong Global Entertainment improved to $1.5 million, representing 18.8% of revenues, up from the previous period[4] - Total revenue for the three months ended June 30, 2024, was $7,874 million, a significant increase from $3,336 million in the same period of 2023, representing a growth of 136%[12] - Net premiums earned for the six months ended June 30, 2024, were $4,472 million, compared to $0 in the same period of 2023[12] - Net product sales increased to $4,782 million for the three months ended June 30, 2024, up from $3,794 million in the same period of 2023, reflecting a growth of 26%[12] - Total expenses for the three months ended June 30, 2024, were $13,927 million, compared to $9,542 million in the same period of 2023, an increase of 46%[12] - Loss from operations for the three months ended June 30, 2024, was $(6,053) million, slightly improved from $(6,206) million in the same period of 2023[12] - Net loss attributable to common shareholders for the three months ended June 30, 2024, was $(6,229) million, compared to $(5,273) million in the same period of 2023[12] - Basic and diluted net loss per common share from continuing operations was $(0.22) for the three months ended June 30, 2024, compared to $(0.63) in the same period of 2023[12] Assets and Equity - Fundamental Global reported total assets of $98.4 million as of June 30, 2024, an increase of $36.3 million from December 31, 2023[2] - Total stockholders' equity rose to $60.4 million, reflecting an increase of $23.4 million from December 31, 2023[3] - Short- and long-term debt decreased to $3.1 million, down by $4.7 million from December 31, 2023[3] Operational Efficiency - The company achieved over $4 million in annual cost savings through strategic operational enhancements[1] - Fundamental Global plans to close the merger of Strong/MDI Screen Systems with FG Acquisition Corp. by the end of the third quarter, aiming to drive efficiency and focus on high-growth opportunities[1] Cash Flow - Cash and cash equivalents from continuing operations at the end of the period were $5,850 million, up from $4,864 million at the end of the same period in 2023[15] - Net cash used by operating activities from continuing operations was $(3,750) million for the six months ended June 30, 2024, compared to $(2,586) million in the same period of 2023[14] - Net cash provided by investing activities from continuing operations was $4,326 million for the six months ended June 30, 2024, compared to $77 million in the same period of 2023[14] Reinsurance and Investment - The reinsurance business generated $3.7 million in premium revenue during the second quarter of 2024[6] - Investment losses from asset management amounted to $4.0 million in the second quarter, primarily due to unrealized mark-to-market losses on equity securities[7] Loss from Operations - The company incurred a loss from operations of $0.7 million in the second quarter of 2024, an improvement from a loss of $1.6 million in the same period of 2023[5]

[Report of Independent Registered Public Accounting Firm](index=3&type=section&id=Report%20of%20Independent%20Registered%20Public%20Accounting%20Firm) [Opinion on the Consolidated Financial Statements](index=3&type=section&id=Opinion%20on%20the%20Consolidated%20Financial%20Statements) The independent auditor, HASKELL & WHITE LLP, issued an unqualified opinion, stating that the consolidated financial statements of FG Group Holdings Inc. for the years ended December 31, 2023, and 2022, are presented fairly in all material respects, in conformity with U.S. generally accepted accounting principles - The auditor's opinion on the financial statements is unqualified, indicating a fair presentation of the company's financial position and results of operations[5](index=5&type=chunk) [Emphasis of Matters](index=3&type=section&id=Emphasis%20of%20Matters) The auditor's report highlights three significant matters without modifying the opinion: the May 2023 separation of Strong Global Entertainment, Inc. into a standalone public company where the Company remains a majority shareholder; the classification of the Content Business (Strong Studios, Inc. and Unbounded Media Corporation) as discontinued operations; and the February 2024 merger where the Company became a wholly owned subsidiary of Fundamental Global Inc., leading to the deregistration of its common stock - Strong Global Entertainment, Inc. became a standalone public company in May 2023, but its financial results remain consolidated as the Company is the majority shareholder[6](index=6&type=chunk) - The company's Content Business, including Strong Studios and Unbounded Media, has been classified as discontinued operations for all periods presented[7](index=7&type=chunk) - On February 29, 2024, the Company completed a merger and became a wholly owned subsidiary of Fundamental Global Inc., subsequently filing to deregister its common stock with the SEC[8](index=8&type=chunk) [Critical Audit Matters](index=4&type=section&id=Critical%20Audit%20Matters) The audit identified two critical audit matters involving complex and subjective judgments: Revenue Recognition and Accounting for Equity Investments. Revenue recognition was complex due to contracts with non-standard terms and multiple performance obligations. Accounting for equity investments was challenging due to the significant judgment required to determine the level of influence and to value privately held entities - Critical Audit Matter 1: Revenue Recognition. This was challenging due to contracts with non-standard terms and multiple performance obligations, requiring significant judgment in identifying obligations, allocating transaction prices, and determining the timing of revenue recognition[14](index=14&type=chunk)[15](index=15&type=chunk) - Critical Audit Matter 2: Accounting for Equity Investments. This was challenging because equity investments are a material portion of total assets, and significant judgment is needed to determine the accounting method (fair value, equity, cost) and assess the valuation of private entities[17](index=17&type=chunk)[18](index=18&type=chunk) [Consolidated Financial Statements](index=6&type=section&id=Consolidated%20Financial%20Statements) [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) As of December 31, 2023, total assets decreased to $62.1 million from $71.8 million in 2022, primarily due to a decline in equity holdings. Total liabilities remained stable at approximately $25.1 million. Total stockholders' equity decreased significantly from $46.7 million to $37.0 million, driven by a reduction in retained earnings and the recognition of a non-controlling interest Consolidated Balance Sheet Highlights (in thousands) | Account | Dec 31, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | **Total Assets** | **$62,143** | **$71,753** | | Cash and cash equivalents | $6,644 | $3,789 | | Equity holdings | $28,021 | $37,522 | | Assets of discontinued operations | $940 | $3,167 | | **Total Liabilities** | **$25,136** | **$25,055** | | Short-term debt | $4,732 | $2,510 | | Liabilities of discontinued operations | $1,392 | $1,805 | | **Total Stockholders' Equity** | **$37,007** | **$46,698** | | Retained earnings | $2,336 | $16,437 | | Equity attributable to non-controlling interest | $1,858 | $0 | [Consolidated Statements of Operations](index=7&type=section&id=Consolidated%20Statements%20of%20Operations) For the year ended December 31, 2023, the company reported a net loss of $14.6 million, a significant increase from the $7.2 million net loss in 2022. The wider loss was driven by a larger loss from operations, a $6.2 million unrealized loss on equity holdings, and a $4.9 million net loss from discontinued operations. Total net revenues increased to $43.3 million from $40.3 million year-over-year Consolidated Statement of Operations Highlights (in thousands, except per share data) | Metric | 2023 | 2022 | | :--- | :--- | :--- | | Total net revenues | $43,328 | $40,323 | | Gross profit | $11,564 | $10,832 | | Loss from operations | $(3,449) | $(1,805) | | Unrealized loss on equity holdings | $(6,176) | $(4,468) | | Net loss from continuing operations | $(9,781) | $(6,599) | | Net loss from discontinued operations | $(4,860) | $(555) | | **Net loss** | **$(14,641)** | **$(7,154)** | | Net loss attributable to FG Group Holdings | $(14,077) | $(7,154) | | **Total Basic & Diluted EPS** | **$(0.75)** | **$(0.37)** | [Consolidated Statements of Comprehensive Loss](index=8&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Loss) The comprehensive loss for 2023 was $14.1 million, compared to a comprehensive loss of $8.7 million in 2022. The 2023 figure includes the net loss of $14.6 million, partially offset by a positive currency translation adjustment of $0.6 million. In 2022, the comprehensive loss was exacerbated by a negative currency translation adjustment of $1.4 million Consolidated Comprehensive Loss (in thousands) | Item | 2023 | 2022 | | :--- | :--- | :--- | | Net loss | $(14,641) | $(7,154) | | Currency translation adjustment | $593 | $(1,370) | | Total other comprehensive income (loss) | $576 | $(1,510) | | **Comprehensive loss** | **$(14,065)** | **$(8,664)** | | Comprehensive loss attributable to FG Group Holdings | $(13,501) | $(8,664) | [Consolidated Statements of Stockholders' Equity](index=9&type=section&id=Consolidated%20Statements%20of%20Stockholders'%20Equity) Total stockholders' equity decreased from $46.7 million at the end of 2022 to $37.0 million at the end of 2023. The primary drivers of this decrease were the net loss of $14.1 million attributable to FG Group Holdings and the allocation of equity to a non-controlling interest following the Strong Global Entertainment IPO. The non-controlling interest was valued at $1.9 million at year-end 2023 Changes in Stockholders' Equity (in thousands) | Description | 2023 | 2022 | | :--- | :--- | :--- | | **Balance at Beginning of Year** | **$46,698** | **$52,277** | | Net loss attributable to FG Group Holdings | $(14,077) | $(7,154) | | IPO of Strong Global Entertainment, Inc. | $1,341 | - | | Non controlling interest allocation | $(1,894) | - | | Stock-based compensation expense | $1,605 | $652 | | **Balance at End of Year** | **$37,007** | **$46,698** | [Consolidated Statements of Cash Flows](index=11&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) The company's cash and cash equivalents increased by $2.9 million in 2023, ending the year at $6.6 million. This was a significant turnaround from 2022's $5.1 million decrease. The positive change was driven by $3.4 million in net cash from financing activities, primarily from the Strong Global Entertainment IPO and net borrowings, which offset cash used in operating ($0.2 million, including discontinued operations) and investing ($0.7 million) activities Consolidated Cash Flows (in thousands) | Cash Flow Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $156 | $(3,572) | | Net cash used in investing activities | $(695) | $(576) | | Net cash provided by (used in) financing activities | $3,383 | $(924) | | **Net increase (decrease) in cash** | **$2,855** | **$(5,092)** | | **Cash at end of year** | **$6,644** | **$3,789** | - Financing activities in 2023 were highlighted by **$2.4 million** in proceeds from the Strong Global Entertainment IPO and net borrowings of **$2.4 million** under a credit facility[36](index=36&type=chunk) [Notes to Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) [Note 1: Business Description and Basis of Presentation](index=13&type=section&id=1.%20Business%20Description%20and%20Basis%20of%20Presentation) FG Group Holdings Inc. is a holding company with primary investments in equity securities and real estate. A significant portion of its operations has been through its Strong Entertainment segment. In May 2023, Strong Global Entertainment became a separate public company, but its results remain consolidated as FG Group Holdings retains a majority stake (approx. 76% of Class A and 100% of Class B shares). The company also owns the Digital Ignition technology incubator - The company is a holding company with investments in public/private equity and real estate[38](index=38&type=chunk) - Following the May 2023 IPO of Strong Global Entertainment (SGE), FG Group Holdings remains the majority shareholder (**76%** of Class A, **100%** of Class B shares) and continues to consolidate SGE's financial results[39](index=39&type=chunk) [Note 3: Discontinued Operations](index=21&type=section&id=3.%20Discontinued%20Operations) As of December 31, 2023, the board of Strong Global Entertainment approved a plan to exit its content business, which includes Strong Studios and Unbounded Media. This move is intended to sharpen focus on core businesses and improve financial performance. The company recorded a loss on disposal of discontinued operations of $2.3 million in 2023. For the year, this segment generated a net loss of $4.9 million - The company is exiting its content business (Strong Studios and Unbounded) to focus on core operations and reduce costs[106](index=106&type=chunk) - A loss on disposal of discontinued operations of **$2.3 million** was recorded in 2023[110](index=110&type=chunk) Financials of Discontinued Operations (in thousands) | Line Item | 2023 | 2022 | | :--- | :--- | :--- | | Net revenues | $6,385 | $914 | | Loss from operations | $(4,858) | $(555) | | **Net loss from discontinued operations** | **$(4,860)** | **$(555)** | Assets and Liabilities of Discontinued Operations (in thousands) | Account | Dec 31, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Total assets of discontinued operations | $940 | $3,167 | | Total liabilities of discontinued operations | $1,392 | $1,805 | [Note 4: Acquisition of the Assets of Innovative Cinema Solutions](index=22&type=section&id=4.%20Acquisition%20of%20the%20Assets%20of%20Innovative%20Cinema%20Solutions) On November 3, 2023, the company's subsidiary, Strong Technical Services, Inc. (STS), acquired the assets of Innovative Cinema Solutions, LLC (ICS). The purchase price included $0.2 million in cash, $0.2 million in SGE common shares, and a $0.5 million promissory note. The fair value of the net assets acquired ($1.45 million) exceeded the purchase price, resulting in a bargain purchase gain of approximately $1.0 million - Acquired assets of Innovative Cinema Solutions (ICS) on November 3, 2023[115](index=115&type=chunk) - The acquisition resulted in a gain on bargain purchase of approximately **$1.0 million**, as the value of net assets acquired (**$1.45 million**) exceeded the purchase price[119](index=119&type=chunk) [Note 5: Revenue](index=23&type=section&id=5.%20Revenue) Total revenue from continuing operations increased to $43.3 million in 2023 from $40.3 million in 2022. The Strong Entertainment segment was the primary driver, contributing $42.6 million in 2023, up from $39.0 million in 2022. Growth was seen in screen system sales and field maintenance services. The majority of revenue ($36.5 million in 2023) is recognized at a point in time Revenue by Segment (in thousands) | Segment | 2023 | 2022 | | :--- | :--- | :--- | | Strong Entertainment | $42,616 | $38,953 | | Other | $712 | $1,370 | | **Total** | **$43,328** | **$40,323** | Strong Entertainment Revenue Breakdown (in thousands) | Revenue Source | 2023 | 2022 | | :--- | :--- | :--- | | Screen system sales | $14,925 | $13,923 | | Digital equipment sales | $12,937 | $13,245 | | Field maintenance and monitoring services | $7,808 | $6,797 | | Installation services | $3,508 | $1,889 | [Note 8: Equity Holdings](index=25&type=section&id=8.%20Equity%20Holdings) Total equity holdings decreased to $28.0 million at year-end 2023 from $37.5 million in 2022. The portfolio consists of an equity method holding in FG Financial Holdings, LLC ($4.6M), a fair value holding in GreenFirst Forest Products Inc. ($10.6M), and a cost method holding in Firefly Systems, Inc. ($12.9M). The company recorded an unrealized loss of $6.2 million on its GreenFirst holding and an equity method loss of $3.3 million from its FGF Holdings investment in 2023 Summary of Equity Holdings (in thousands) | Holding | Accounting Method | Carrying Amount 2023 | Carrying Amount 2022 | | :--- | :--- | :--- | :--- | | FG Financial Holdings, LLC | Equity Method | $4,571 | $7,832 | | GreenFirst Forest Products Inc. | Fair Value Method | $10,552 | $16,792 | | Firefly Systems, Inc. | Cost Method | $12,898 | $12,898 | | **Total Equity Holdings** | | **$28,021** | **$37,522** | - Recorded an unrealized loss of **$6.2 million** on the GreenFirst holding in 2023, compared to a **$4.5 million** loss in 2022[137](index=137&type=chunk) - Recorded an equity method loss of **$3.3 million** from FGF Holdings in 2023, a reversal from the **$3.0 million** income in 2022[134](index=134&type=chunk) [Note 11: Income Taxes](index=27&type=section&id=11.%20Income%20Taxes) The company recorded an income tax benefit of $0.7 million in 2023, compared to an expense of $0.5 million in 2022, despite pre-tax losses in both years. The 2023 benefit was primarily driven by changes in the valuation allowance and deferred tax adjustments. As of December 31, 2023, the company had federal net operating loss carryforwards of approximately $8.8 million and maintained a valuation allowance of $11.5 million against its U.S. deferred tax assets - A valuation allowance of **$11.5 million** was recorded against U.S. deferred tax assets as of Dec 31, 2023, as realization is not more likely than not[145](index=145&type=chunk) - The company has gross federal net operating loss (NOL) carryforwards of approximately **$8.8 million** as of Dec 31, 2023, down from **$19.7 million** in 2022[152](index=152&type=chunk) - The Separation and IPO of Strong Global Entertainment resulted in a recognized gain of **$11.1 million** under Section 367 of the Internal Revenue Code, which was fully offset by NOL carryforwards[151](index=151&type=chunk) [Note 12: Debt](index=29&type=section&id=12.%20Debt) Total debt, including short-term and long-term portions, increased to $10.2 million in 2023 from $7.8 million in 2022. The increase was mainly due to borrowings of $2.4 million under the Strong/MDI revolving credit facility. The debt portfolio includes installment loans, a building loan for the Digital Ignition facility, and a promissory note related to the ICS acquisition Debt Summary (in thousands) | Debt Category | Dec 31, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Total short-term debt | $4,748 | $2,510 | | Total long-term debt | $5,497 | $5,267 | | **Total Debt** | **$10,245** | **$7,777** | - In January 2023, Strong/MDI entered into a new credit agreement with CIBC, including a revolving line of credit up to **CAD$5.0 million**. As of Dec 31, 2023, **CAD$3.2 million** (approx. **$2.4 million**) was outstanding[160](index=160&type=chunk) [Note 16: Commitments, Contingencies and Concentrations](index=34&type=section&id=16.%20Commitments,%20Contingencies%20and%20Concentrations) The company faces significant customer concentration risk, with its top ten customers accounting for 48% of 2023 consolidated net revenues. It is also a defendant in asbestos-related personal injury lawsuits, for which it maintains a loss contingency reserve of $0.3 million. In 2023, the company received a $2.5 million claim from a key man life insurance policy, which was recorded as other income - Significant customer concentration exists, with the top ten customers representing **48%** of 2023 net revenues[186](index=186&type=chunk) - The company is involved in asbestos-related litigation and has a loss contingency reserve of approximately **$0.3 million** as of December 31, 2023[191](index=191&type=chunk) - A gain of **$2.5 million** from a key man life insurance policy was recognized in the fourth quarter of 2023[192](index=192&type=chunk) [Note 17: Business Segment Information](index=36&type=section&id=17.%20Business%20Segment%20Information) The company's operations are primarily conducted through the Strong Entertainment segment, which generated $42.6 million in net revenues and $10.6 million in gross profit in 2023. Geographically, the United States is the largest market, accounting for $36.8 million in revenue and holding $33.5 million in identifiable assets at year-end 2023 Segment Performance (in thousands) | Segment | Net Revenues 2023 | Gross Profit 2023 | Operating Income (Loss) 2023 | | :--- | :--- | :--- | :--- | | Strong Entertainment | $42,616 | $10,577 | $1,016 | | Other | $712 | $987 | $(445) | | Unallocated Admin | - | - | $(4,020) | | **Total** | **$43,328** | **$11,564** | **$(3,449)** | Geographical Information (in thousands) | Region | Net Revenues 2023 | Identifiable Assets 2023 | | :--- | :--- | :--- | | United States | $36,822 | $33,518 | | Canada | $1,192 | $28,625 | | Europe | $1,450 | - | | Asia (excluding China) | $2,265 | - | | **Total** | **$43,328** | **$62,143** | [Note 18: Subsequent Events](index=38&type=section&id=18.%20Subsequent%20Events) Several major corporate events occurred after the reporting period. On February 29, 2024, the company merged with FG Financial Group, Inc. (now Fundamental Global Inc.) and became a wholly owned subsidiary, leading to the deregistration of its stock. On April 16, 2024, it sold its Digital Ignition building for $6.5 million. On May 3, 2024, it entered an agreement to sell its subsidiary Strong/MDI to FG Acquisition Corp. for a pre-money valuation of $30 million - On Feb 29, 2024, the company merged with FG Financial Group, Inc. (now Fundamental Global Inc.) and became a wholly owned subsidiary, delisting its stock[199](index=199&type=chunk) - On April 16, 2024, the company sold its Digital Ignition building for **$6.5 million**, receiving approximately **$1.3 million** in net cash proceeds[200](index=200&type=chunk) - On May 3, 2024, the company agreed to sell its subsidiary Strong/MDI to FG Acquisition Corp. in a transaction valuing Strong/MDI at **$30 million**[201](index=201&type=chunk)[202](index=202&type=chunk)

Mooresville, NC, May 31, 2024 (GLOBE NEWSWIRE) -- Subsidiaries of Fundamental Global Inc. (NASDAQ:FGF, FGFPP))) (the "Company" or "Fundamental Global") and Strong Global Entertainment, Inc. (NYSE:SGE) ("Strong Global Entertainment") have entered into a definitive arrangement agreement and plan of arrangement to combine the companies in an all-stock transaction. Upon completion of the arrangement, the stockholders of Strong Global Entertainment will receive 1.5 common shares of Fundamental Global for each sh ...

Core Viewpoint - Fundamental Global Inc. reported its first quarter results for 2024, highlighting the impact of the merger with FG Group Holdings and the strategic focus on simplifying operations and enhancing growth in high-return businesses [1][2]. Financial Performance - Revenue for the first quarter of 2024 increased by $2.1 million, or 31.6%, reaching $8.6 million, driven by Strong Entertainment's performance and improved investment results [4]. - Total expenses rose by $3.9 million, or 36.3%, to $14.6 million, attributed to increased costs in the entertainment sector and additional expenses from the merger [5]. - The net loss from continuing operations was $4.3 million, or ($0.26) per share, compared to a loss of $3.8 million, or ($0.42) per share, in the same period of 2023 [6][15]. Balance Sheet Highlights - As of March 31, 2024, total assets amounted to $110.3 million, an increase of $48.1 million from December 31, 2023, with investment holdings totaling $49.1 million [7]. - Total stockholders' equity reached $66.4 million, reflecting an increase of $29.6 million from the end of 2023, indicating enhanced scale post-merger [8]. Strategic Initiatives - The company sold its Digital Ignition business in April 2024, which is expected to reduce debt and overhead costs [2]. - A planned combination of Strong/MDI Screen Systems with FG Acquisition Corp. aims to create a new investment platform, Saltire Inc., in Canada, potentially unlocking value from the investment in Strong/MDI [2].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36366 Fundamental Global Inc. (Exact name of registrant as specified in its charter) Washington, D.C. 20549 FORM 10-Q (Mark One) Nevada 46-1119100 (State or other jurisdiction of incorporation or organizat ...

Mooresville, NC, May 06, 2024 (GLOBE NEWSWIRE) -- Fundamental Global Inc. (NASDAQ:FGF, FGFPP))) ("Fundamental Global") today announced that its majority owned subsidiary, Strong Global Entertainment, Inc. (NYSE:SGE) ("Strong Global") has announced the proposed acquisition (the "MDI Acquisition") of Strong/MDI Screen Systems, Inc. ("MDI") by FG Acquisition Corp. (TSX:FGAA, FGAA.WT.U))) ("FGAC"), a special purpose acquisition company ("FGAC"), pursuant to an acquisition agreement (the "Acquisition Agreement") ...

Investors often seek high-growth penny stocks as a means of providing market-beating gains during bull market periods. Many of the stocks in the smaller-capitalization world certainly have such impressive upside. However, this upside potential comes alongside higher risk, which must be taken into account. Of course, a number of penny stocks with viable long-term business models and underlying assets remain undervalued. Finding these hidden gems is easier said than done. Thousands of such companies out there ...

Advancing Strategic Focus and Strengthening Financial Position Mooresville, NC, April 22, 2024 (GLOBE NEWSWIRE) -- Fundamental Global Inc. (NASDAQ:FGF, FGFPP))) (the "Company" or "Fundamental Global") today announced the sale of its Digital Ignition building and wholly owned subsidiary for $6.5 million. Fundamental Global will receive approximately $1.3 million in cash, net of closing costs and repayment of debt. In addition, the Company expects annual operating costs to be reduced by approximately $1 milli ...

Charlotte, N.C., April 08, 2024 (GLOBE NEWSWIRE) -- Strong Global Entertainment (NYSE:SGE) ("Strong Global Entertainment" or the "Company") announced today that its subsidiary Strong Technical Services ("STS") has extended its Managed Services agreement with Marcus Theatres, one of the top theatrical exhibitors in the United States. The agreement has been extended for two additional years, through April 2026. "Strong Technical Services is pleased to have this opportunity to renew this preferred provider agr ...