John Kavanagh linked to company that has raised millions for chain of MMA gyms and online platform

John Kavanagh, best known for coaching Conor McGregor, is connected with a company that has raised $6.5m on the NYSE American exchange for small cap stocks, Photograph: Gary Carr/Inpho’s coach, is behind a company that has raised $6.5 million on the NYSE American exchange, which lists small cap stocks. The funds are to be used to help develop a chain of MMA gyms with an associated online platform.

A further $1 million would go towards investing in technology, nearly $700,000 towards paying down some existing debt, while the remainder will be used for general working capital, the prospectus says.Sun goes down on German economy as recession drags on and government spending is slashedSimon Harris needs to reset policies on labour costs to support small businesses struggling to make ends meet

It has signed up a number of former professional coaches to promote the company and use its training programme, including Mr Kavanagh. Financial statements included with the prospectus note that it made an operating loss of A$20.5 million in 2023 and a loss of A$11.1 million in 2022. It notes in the document that it “may continue to incur net losses in the future”. It had an accumulated deficit to date of A$38.3 million .

Source: News Formal (newsformal.com)

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