Luminar Media Group Reports Significant Growth and Appoints Juan M. Sese as VP of Finance

Luminar Media Group, Inc. (OTC MARKETS: LRGR), a leading fintech company focused on providing financial services to Hispanic-owned businesses in the U.S., reports substantial asset growth for Fortun Advance, its finance subsidiary. Since merging with Luminar Media Group on May 26, 2024, Fortun Advance's assets have surged to $1,216,491, reflecting a 21.65% return on investment (ROI) within a few months. This ROI, though promising, is subject to factors like funding defaults and market fluctuations, with current default collections standing at $64,644.60, or 7.4% of receivables—well below industry standards.

Key month-over-month metrics reveal significant growth. Accounts Receivable from active funding clients nearly doubled from $439,191.42 in July to $872,946.99 in August, marking a 98.7% increase. New funding volume rose by 50.63%, from $258,700 in July to $389,700 in August, surpassing the August forecast of $350,000. Additionally, receivables deposited surged by 147%, from $47,161.98 in July to $116,859.38 in August.

Fortun Advance's self-sustaining business model is also noteworthy. The company has collected $199,390 in fees and commissions against operational expenses of $185,555.39, emphasizing its financial efficiency and scalability.

Fortun Advance has extended funding to businesses across 25 industries, concentrating 57% of its funding in construction, trucking, transportation, and automotive sectors. The company has also funded businesses in 17 states, with over 78% of the funding focused in Florida, suggesting considerable potential for regional expansion.

In a significant leadership move, Luminar Media Group has appointed Juan M. Sese as Vice President of Finance for Fortun Advance. Sese brings over 25 years of experience in finance, having begun his career at Morgan Stanley Smith Barney. He has a distinguished track record in business strategy, private equity, and mergers and acquisitions, particularly in logistics, distribution, and land development in South Florida. Sese holds an MBA in Business and Finance from the University of Miami and multiple financial licenses.

"From the moment I was introduced to the concept behind Fortun Advance, I recognized it as a winning idea supported by a strong team," said Sese. "The model is not only profitable but also addresses a critical gap left by major financial institutions. I am excited to be part of this great company."

Sese's appointment and Fortun Advance's growth metrics underscore the company's robust financial health and potential for continued expansion. The company aims to inject additional capital and strategically deploy it through 2024 and into 2025, promising a strong financial outlook.