Lingerie Fighting Championships, Inc.

What they do

LFC develops, promotes and distributes live entertainment events combining professional wrestling and mixed martial arts, performed by an all-female roster and recorded by an in-house production team. It has hosted 46 live events across the U.S. and Europe and more than 120 episodes of a roughly 30-minute reality series. It also distributes content through broadcast agreements, a subscription website, a Roku channel, YouTube and social media platforms, and sells merchandise such as t-shirts and calendars.

Revenue drivers

• Licensing / broadcast agreements — Management attributed the 2025 revenue increase partly to a broadcast agreement signed with Maybacks; no separate dollar amount is disclosed for this line.
• Advertising — Also cited as a driver of 2025 revenue, tied to an agreement signed with Meta; no separate dollar amount is disclosed.
• Live events, sponsorship and subscription — Revenue derives from live event promotion, televised programming, sponsorship and site subscription, but the filings do not break out revenue by line item.
• Licensing and merchandise — The company states it seeks to develop branding and merchandising avenues, including t-shirts and calendars, but shows no separately reported revenue for these.

Recent performance

Full-year 2025 revenue was $208,485, up 57% from $132,978 in 2024, which management attributed to licensing revenue from the Maybacks broadcast agreement and advertising revenue from an agreement with Meta. Cost of services rose to $237,659 from $84,995, producing a gross loss of $29,174 versus gross profit of $47,983 in 2024, driven by UK event production, promotion costs and YouTube channel consulting fees. Operating expenses were $420,868 versus $392,454, and net loss narrowed to $567,160 from $1,868,186, mainly on a $1.4 million swing in other expense tied to derivative fair value changes. For the quarter ended June 30, 2026, revenue was $30,464 versus $25,551, with a gross loss of $1,246 and a net loss of $281,355. Working capital was negative $6,398,819 at December 31, 2025, and at June 30, 2026 the company reported total assets of $63,976, total liabilities of $5.9 million, shareholder equity of negative $5.8 million and cash of $19,328.

Strategy

The company's stated focus is building the LFC league and brand by holding live events worldwide, promoting fighters through a reality series and merchandise, and distributing content across broadcast, video-on-demand and digital channels. Management describes the 2025 UK events and reality series spending as a long-term investment, noting social media following grew from under 1.5 million to 5.3 million after those shows. It says it anticipates more events in 2026 than in any previous year, and the latest 10-Q states three events were done in 2026 with at least three more planned, including an Italy season finale on Halloween. It also cites the Meta advertising agreement and the Maybacks broadcast agreement as recent commercial progress.

Risks

• Going concern / negative working capital — Working capital deficiency was $6,398,819 at December 31, 2025 and shareholders' equity was negative $5.8 million at June 30, 2026, with only $19,328 of cash.
• Gross margin squeeze from event spending — Cost of services exceeded revenue in 2025 ($237,659 vs. $208,485) and in the quarter ended June 30, 2026 ($31,710 vs. $30,464), producing gross losses.
• Dependence on a small number of commercial agreements — Management attributes the 2025 revenue increase to broadcast and advertising agreements with Maybacks and Meta, so a change in those relationships would directly affect revenue.
• Persistent operating cash outflows — Operating cash flow has been negative every year shown, including negative $312,822 in 2025 and negative $161,529 in 2024, so operations do not fund themselves.

Outlook

Management states the UK shows have drawn increased interest from broadcasters, investors and sponsors and that it believes those events will pay off with increasing revenue and profit margin in the next three to six months and beyond. It expects to hold more events in 2026 than any prior year, with at least three more planned after three already completed, including the Italy season finale on Halloween. No specific revenue, profit or cash flow guidance or timeline for achieving positive operating cash flow is provided in the excerpts.