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On December 20, 2021, CMG Holding Group, Inc. (OTC: CMGO) announced that CEO Glenn B. Laken purchased 1,423,000 common shares of the company, bringing his total ownership to 14,185,850 shares. Laken expressed his belief in the company's achievements and future potential. Additionally, CMGO has engaged E&E Communications to enhance its investor relations, aiming to attract new investors. The company previously executed a stock repurchase program in 2020, indicating a commitment to shareholder value. Forward-looking statements highlight the company's growth strategy and related risks.
CMG Holdings Group, Inc. (CMGO) announced that its subsidiary, XA, The Experiential Agency, has secured a purchase order for an international tourism campaign set to take place in New York City from February to mid-March 2022. This campaign, budgeted between $1.75 million and $3 million, marks XA's first engagement with a foreign government. Additionally, XA will execute a unique public installation in Manhattan for a pharmaceutical client, estimated in the mid six figures. The projects reflect XA's dedication and could lead to further opportunities in both tourism and pharmaceutical sectors.
CMG Holdings Group, Inc. (OTC:CMGO) has formed a joint venture with North Jersey Petroleum Partners LLC, focusing on eco-friendly technology to enhance low-grade petroleum. The venture involves a $1 million investment for a 10% stake in NJPP's facility, where new Magnetic Vacuum Upgrading technology aims to remove impurities and reduce sulfur, potentially generating profits of $6 to $10 per barrel. CMG anticipates annual earnings of $1.08 million to $21.6 million based on production capacity. A $500,000 financing agreement is also in place to support the venture.
CMGO (OTC: CMGO) announced positive updates on its upcoming projects, including a three-day production job for Timberland starting September 22 in NYC and a September event for Madewell. Two additional projects may be delayed to October, but the company anticipates a strong holiday season. Additionally, CMGO is close to commercializing a multi-patent oil-upgrading technology that significantly reduces impurities in crude oil. This investment is expected to greatly benefit CMGO and its shareholders. Further details will be disclosed as legal agreements are finalized.
CMG Holdings Group, Inc. reported strong business momentum as clients express immediate needs and plan future activations for late summer and fall 2021. Recent projects include a 4-week activation for Madewell and additional activations for J. Crew. Notably, Timberland has resumed collaboration with CMG, preparing for significant projects in the coming months. CMG is also set to partner with Authentic Brands for the "Fashionable Fifty" event celebrating athletes' style. Overall, there are promising developments in client relationships and future projects.
CMG Holdings Group (OTC: CMGO) announces a joint venture in the pre-owned gym equipment market, leveraging explosive growth potential after many gyms closed due to the pandemic. CEO Glenn Laken highlighted a partnership with Desert Sky Fitness, forecasting sales of $7.5M in the first year, reaching $25M by year three. The market for pre-owned fitness equipment is projected to grow from $5.7 billion to over $10 billion in three years, with CMGO poised to capitalize on this opportunity. The company is also pursuing a non-dilutive loan to support this venture.