BROADCAST MARKETING ANNOUNCES CHANGE IN CONTROL AND COMPLETION OF FIRST ACQUISITION

Rhea-AI Summary

Broadcast Marketing Group, Inc. (OTC: BDCM) has announced a change of control with Junbao Zhang acquiring voting control through Preferred A shares from Synergy Management. This transition marks a significant shift for BDCM as it is no longer classified as a shell company, following its acquisition of 100% of Aurora Technology Holding Limited, an IT consulting firm with annual revenues of approximately $300,000.

With this acquisition, BDCM aims to enhance its growth strategy focused on technology, with plans for further acquisitions and updates to investors on business expansion.

Positive

• BDCM is no longer a shell company following the acquisition of Aurora Technology.
• The acquisition of Aurora Technology presents growth potential with existing annual revenue of approximately $300,000.
• BDCM plans to execute several acquisitions, which could enhance shareholder value.

Negative

• The revenue of Aurora Technology at $300,000 indicates limited current growth.

News Market Reaction

-9.64%

1 alert

-9.64% News Effect

On the day this news was published, BDCM declined 9.64%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

SHERIDAN, Wyo., March 14, 2023 /PRNewswire/ -- Publicly-held Broadcast Marketing Group, Inc. (OTC: BDCM) announces the completion of a change of control with Junbao Zhang in which Junbao Zhang acquired voting control in a private transaction through the company's Preferred A shares from Synergy Management and confirmation of BDCM's business model shift to the Technology sector.

The company also reported that it is no longer a shell company as it completed its first of several planned acquisitions. The company acquired 100% of Aurora Technology Holding Limited, a company incorporated under the laws of Hong Kong. Aurora Technology is an IT consulting business with annual revenue of approximately $300,000 and significant growth potential as well as significant assets of a technical nature pertaining to development, testing and implementation of software design, measurement, analysis, and implementation. The Company is now a fully-functioning, actively operating company with significant non-cash assets and a significant revenue producing business model.

"The focus and strategy going forward in the coming weeks will be to update OTC Markets, the Florida Secretary of State, and company's transfer agent" stated Junbao Zhang, Chairman. "Once these obligatory items are finished, we have plans to update investors on our growth and strategy plan as well as future acquisitions".

Broadcast Marketing Group, Inc. is underway compiling the initial change of control information needed. The company also plans to submit a name and symbol change to FINRA in the coming months. The company believes with its strategic plans for growth it will be able to build shareholder value.

Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although Broadcast Marketing Group, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, Broadcast Marketing Group, Inc. is unable to give any assurance that its expectations will be attained. Factors or events that could cause our actual results to differ may emerge, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

About Broadcast Marketing Group, Inc

Broadcast Marketing Group, Inc. is a technology holding company that has plans to complete several acquisitions in the coming months. www.bdcmcorp.com  

View original content:https://www.prnewswire.com/news-releases/broadcast-marketing-announces-change-in-control-and-completion-of-first-acquisition-301771830.html

SOURCE Broadcast Marketing Group, Inc.

FAQ

What is the recent acquisition by Broadcast Marketing Group (BDCM)?

BDCM recently acquired 100% of Aurora Technology Holding Limited, an IT consulting firm, marking its shift away from being a shell company.

Who has gained control of Broadcast Marketing Group (BDCM)?

Junbao Zhang has acquired voting control of BDCM through Preferred A shares from Synergy Management.

What impact will the acquisition of Aurora Technology have on BDCM?

The acquisition is expected to provide BDCM with a revenue-generating business and facilitate future growth opportunities.

What are BDCM's plans following the acquisition?

BDCM plans to focus on technology, pursue further acquisitions, and update investors on its growth strategy.

When did Broadcast Marketing Group (BDCM) announce the change of control?

The change of control was announced on March 14, 2023.