CMG Updates Shareholders on Positive Corporate Developments, Including Two New Contracts
Chicago, IL -- September 12, 2019 -- InvestorsHub NewsWire -- CMG Holdings Group, Inc. (CMGO/OTC) today announces (2) new contracts and provides a positive business
shareholder update and other corporate news from the Office of the CEO, Glenn Laken:
Due to growing demand, XA The Experiential Agency, CMG's fully owned subsidiary, has closed two new deals. With contracts in hand, XA is looking forwardto providing services to these new clients and using these new corporate alliances as springboards to capture more business in the sector.
XA is gaining a great reputation for having some of the quickest turn arounds in the experiential business. Indeed, XA’s ability to create complex, multi-city events in a matter of weeks helped secure both of these new client relationships. These new clients are:
Madewell, a men and women's online and retail clothing stores (madewell.com).
Beauty Counter; a Direct Retail skincare and cosmetics brand (beautycounter.com).
With our current book of business and client list, including these two new signings, we are delighted to round off our portfolio and look forward expanding our footprint in an industry that is becoming aware increasing aware that XA is the place to go for event needs and ultimate experiences, done right and done on time. We feel these new clients open us up to a whole new segment of the market, as we continue to put our stamp on the industry, with events for well know retailers, like J Crew, scheduled to kick off the fall season.
CEO Glenn Laken went on to add, “I am excited about our future and our growth, we have made some serious steps in growing XA back to where it belongs, and also looking forward to getting our stock price back where it belongs. We have a unique investor base, and our goal is to keep getting new clients and contracts, increasing revenues and looking to expand our footprint in the marketplace. I feel we are doing our part by being a self-funded company. We are funding the company the right way with no convertible debt or gimmick financing. We have never raised the authorized shares, nor have we ever affected a reverse split. I want shareholders to know that as CEO, I have made plenty of sacrifices through the years, to keep the share structure where it is. I went without a salary for an extended period of time and used my own money for many years to support CMG Holdings Group Inc. I am proud of the efforts and hard work that we have made growing our business and bringing the company up to date with all filings. We are also now current and in good standing with OTCmarkets https://www.otcmarkets.com/stock/CMGO/overview
In our plan to bring value to our shareholders beyond business growth and revenues, we have come up with a plan to hyper accelerate our 100m share retirement goal, with 38 million currently restricted shares to be retired and returned to the Treasury. This process will take time, finances and some leg work. As the process moves along, we will keep you informed.
This is the first in a series of updates and press releases. We have even more exciting news about projects we have been working on, to be announced soon...”
About CMG Holdings Group, Inc.
CMG Holdings Group, Inc. is a Chicago holding company whose primary operating subsidiary is XA – The Experiential Agency, Inc. (http://www.experientialagency.com) - which engages in the alternative advertising, digital media, experiential and interactive marketing, and entertainment sectors. XA is involved in production and promotion, event design, sponsorship evaluation, negotiation and activation, talent buying, show production, stage and set design, and data analysis and management activities. The business also offers branding and design services, such as graphic, industrial and package designs across traditional and new media, public relations, social media, media development and relations, and interactive marketing platforms to provide its clients with customary private digital media networks to design and develop individual broadcasting digital media channels to sell, promote, and enhance their digital media video content through mobile, online, and social mediums. XA serves clients across the marketing communication industry. Separately, CMG Holdings Group owns Lincoln Acquisition Corp., a subsidiary formed to manage its portfolio investments.
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.
CMG Holdings Group, Inc.
AboutXA, The Experiential A