CMG Holdings Group Inc Chairman Provides Update
July 13 2020 - 9:30AM
InvestorsHub NewsWire
Chicago, IL
-- July 13,2020 -- InvestorsHub
NewsWire
--
CMG Holdings Group, Inc. (CMGO/OTC)
I would like to take this opportunity to
bring the shareholders of CMGO up to date with the
company's
current status. As most of you are aware,
last week
CMG became
a
fully reporting
SEC company.
Much
time and
effort
were necessary to make this happen,
but it has been accomplished
-
and we are very pleased.
We are
also
pleased to report some activity is beginning to percolate for
XA
once again. XA is working to organize and produce a large online
project
for
a number of brand name corporate clients,
designed to safely reach consumers while providing them with an
experience that has
the immediacy and excitement of
a large-scale public event.
As negotiations
for the proposed production of this project are ongoing and not yet
complete, the
names
of the corporate entities involved cannot yet be
disclosed.
When negotiations conclude,
XA
will
have
a solidly profitable job
for the 3rd
quarter
along with some strong
PR
in a new field.
While XA has been reinventing its business model to satisfy the
strictures of pandemic restrictions, we
have been doing
due diligence on a company that we are considering entering in to a
joint venture with in a business that I believe could be very
timely. They are nicely profitable and have quite a significant
amount of room to
be become
very
profitable and expand their business dramatically with more capital
and greater exposure.
The
next 30 days
should let us know
if a deal can be made.
I will be
back to you on this one.
Finally, I
have been approached by a group out of Europe that has interest in
rolling in to CMG and bringing an ongoing business
in.
I
have had a number of discussions with them and conversations are
ongoing. Their timeline is the 4th quarter and it
could be a very nice fit for both companies.
I
will provide updates in all areas in the up-coming days.
Now that CMG is
fully reporting,
all of the above
mentioned projects and possibilities
will
be much easier to accomplish.
Disclosure Statement
Statements in this press
release about our future expectations, including without
limitation, the likelihood that CMG Holdings Group, Inc. will meet
minimum sales expectations, be successful and profitable, bring
significant value to its stockholders, and leverage capital markets
to execute its growth strategy, constitute "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, Section 21E of the Securities Exchange Act of 1934, and as
that term is defined in the Private Litigation Reform Act of 1995.
Such forward-looking statements involve risks and uncertainties and
are subject to change at any time, and our actual results could
differ materially from expected results. The Company undertakes no
obligation to update or release any revisions to these
forward-looking statements to reflect events or circumstances after
the date of this statement or to reflect the occurrence of
unanticipated events, except as required by law. CMG's business
strategy described in this press release is subject to innumerable
risks, most significantly, whether the Company is successful in
securing adequate financing and materially decreases its
convertible debt.
No information in this press release should be construed in any
form shape or manner as an indication of the Company's future
revenues, financial condition or stock price.
Contact
Glenn Laken
CEO
CMG Holdings Group,
Inc.
(773) 770-3440
glennbrlaken@gmail.com
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