Delivering on Revitalization of XFC MMA series with XFC 50 Resurrection and XFC Grand Prix II Announced Media Distribution Partnership with Triller TV GRAND RAPIDS, Mich., May 16, 2024 (GLOBE NEWSWIRE) -- Xtreme One Entertainment, Inc. (NASDAQ:XONI, the "Company" or "Xtreme One")) today announced that the company has filed its Disclosure Statement for the fiscal first quarter ending March 31, 2024, accessible at https://www.otcmarkets.com/stock/XONI/overview. "We began the year in an Xtreme fashion with our rebirth of the XFC MMA league at ‘XFC 50: Resurrection' in Lakeland, Fl. We had an incredible turnout of excited fans to watch an action-packed card. I'm incredibly proud of the efforts of our team, production staff, and fighters, and the efforts made during the first quarter to prepare us for successful events in the second quarter," said Doug Kuiper, President. For the First Quarter, the Company incurred a loss of $0.3 million, or $0.00 per diluted share as it invested in significant logistical preparations for two MMA events in the second quarter of 2024. Subsequent to the end of the quarter, the Company successfully produced the XFC 50: Resurrection event in Lakeland Florida, on April 12, 2024. The Company is in the final preparations for XFC Grand Prix II which is to be held at the Masonic Temple in Detroit, Michigan on May 31, 2024. Also in the second quarter, the Company announced an agreement with Triller TV to provide pay-per-view streaming event coverage for its MMA events to global audiences. Finally, in the second quarter the company announced that sports reporter and TV host Jenny Taft and business leader Jeff Lambert had joined its board of directors. About Xtreme One Entertainment, Inc.Founded in 1995 as a consumer and diversified holding company, Xtreme One Entertainment, Inc. (OTC:XONI) is now focused on media, entertainment, live sports, and event marketing. The Company, through its wholly owned subsidiary, XFC Global, Inc. (XFC), is the licensee of all the brands and intellectual property of Xtreme Fighting Championships. For more information or for upcoming events, visit XtremeOne.com or XFCFight.com. Forward-Looking Statements This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. These statements are subject to risks and uncertainties including, but not limited to, the following: the Company's lack of history of operating profitability, the need to raise significant capital to fund operations and growth, uncertainty concerning the transition of the Company's business model, uncertainty concerning market acceptance of the Company's sports and entertainment marketing offerings, competition and the ability to develop or license intellectual property that is critical to the Company's business, The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Contact: Investor Relations for XONI Zachary XTREME ONE ENTERTAINMENT, INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS($000's omitted except share and per share data)         March 31,2024   December 31,2023   ASSETS   Current Assets                   Cash $ 216,189     $ -       Prepaid expenses   237,424       -                         Total Current Assets   453,613       -                       Other Assets                   Goodwill and Intangibles   595,346       595,346                         Total Other Assets   595,346       595,346                         Total Assets $ 1,048,959     $ 595,346                                         LIABILITIES AND STOCKHOLDERS' (DEFICIT)                     Current Liabilities                   Accounts payable and accrued expenses $ 83,812     $ 40,348       Accounts payable and accrued expenses-Related party   424,992       198,479       Notes payable   847,468       847,468       Derivative liability   1,344,234       1,344,234                         Total Current Liabilities   2,700,506       2,430,529                       Long Term Liabilities                   Notes payable-Related party   500,000       -                         Total Liabilities   3,200,506