UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
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Item 8.01 Other Events.
MGO Global Inc. (the “Company”) is filing this Current Report on Form 8-K to recast its consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 , originally filed with the Securities and Exchange Commission (the “SEC”) on April 1, 2024 and amended on June 3, 2024 (“2023 Form 10-K”) to reflect the Company’s reportable discontinued operations. As previously disclosed in a Current Report on Form 8-K, filed with the SEC on March 26, 2024, the Company’s subsidiary, MGOTEAM 1 LLC (“MGO LLC”), assigned all of its rights pursuant to the Trademark License Agreement (“License Agreement”), dated November 20, 2021, between Leo Messi Management SL and MGO LLC. The License Agreement was MGO LLC’s sole asset.
Therefore, the Company determined that the operations of MGO LLC should be reported as discontinued operations in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 205, Presentation of Financial Statements and has recast its previously filed consolidated financial statements.
The recast historical consolidated financial statements, as well as the other items from the 2023 Form 10-K listed below containing recast financial information, are filed as Exhibit 99.1 to this Current Report and are incorporated by reference into this Item 8.01:
a. Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations;
b. Part II, Item 8. Financial Statements and Supplementary Data; and
c. Part IV, Item 15. Exhibits, Financial Statements, Schedules.
This exhibit does not modify or update disclosures as presented in the 2023 Form 10-K to reflect events or occurrences after the April 1, 2024, date of the filing of the 2023 Form 10-K, except for matters relating specifically to the recasting of the presentation as described above. This Form 8-K, including Exhibit 99.1, should be read in conjunction with the 2023 Form 10-K and the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 and its Current Reports on Form 8-K filed subsequent to the 2023 Form 10-K.
Item 9.01. Financial Statements and Exhibits
| (d) | Exhibits. |
| Exhibit No. | Description | |
| 23.1 | Consent of Assurance Dimensions, LLC | |
| 99.1 | Press Release titled MGO Global Releases Preliminary Second Quarter 2024 Results and Comments on Key Business Highlights, dated July 16, 2024 | |
| 101.INS | Inline XBRL Instance Document | |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document | |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document | |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document | |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document | |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document | |
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: August 13, 2024 | MGO Global Inc. | |
| By: | /s/ Maximiliano Ojeda | |
| Name: | Maximiliano Ojeda | |
| Title: | Chief Executive Officer | |