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UMAX Group Corp. (OTC PINK:UMAX) transitions fully into comedy development, having produced over 100 live shows and two one-hour specials titled 'Symphunny.' The acquisition of Funny Media Group in May 2021 aims for a cash-flow positive operation to benefit shareholders. UMAX's comedy events have garnered significant attention, with more specials set for release starting August 9, 2021. The comedy format 'Symphunny' creatively fuses storytelling with live music. President Rondell Fletcher highlights a robust future with comedians booked through October 2021.
UMAX Group Corp. (OTC PINK:UMAX) has reached a significant milestone by recording its 100th live comedy special at its facility in Downtown Los Angeles. Following its acquisition of Funny Media Group in May 2021, UMAX is focusing on comedy development to achieve a cash-flow positive operation. President and CEO Rondell Fletcher emphasized the positive feedback from comedians, leading to increased bookings. The first five specials will debut on August 9, 2021, with a schedule of three releases weekly thereafter. UMAX aims to build a substantial media catalog for streaming services.
UMAX Group Corp. (OTC PINK:UMAX) recently unveiled its newly constructed facility, the Comedy Cube, in Downtown Los Angeles, designed to enhance the live comedy experience. Following the acquisition of Funny Media Group, UMAX aims for a cash-flow positive operation. Approximately $900,000 has been invested in production equipment and facility build-out. The venue has hosted over 100 comedians since May 2021. Upcoming comedy specials will debut on August 9, 2021, with a regular release schedule thereafter. The company is focused on expanding its media catalog to attract streaming service interest.
UMAX Group Corp. (OTC PINK: UMAX) announces a strategic shift toward media content development, focusing on its wholly-owned subsidiary, Funny Media. The company will cancel its acquisitions of Home Foam and Mazuma, returning 2 million shares of Series 'B' Preferred Stock, which will remove approximately $1.3 million in liabilities from its balance sheet. Funny Media aims to produce 100,000 comedy specials by September, leveraging a state-of-the-art facility and a $500,000 investment in content production. UMAX is committed to transitioning into a content-centric business.
UMAX Group Corp. (OTC PINK:UMAX) announced the proposed cancellation of 500,000,000 shares of its common stock, reducing the current outstanding shares from 565,472,274 to 65,472,274, an 89% reduction. This move aims to enhance market attractiveness and optimize the company's capitalization for future acquisitions. Additionally, the company plans to lower its authorized common stock from 1,850,000,000 to 500,000,000 shares, committing to not increase this for at least three years. These actions are intended to maximize shareholder value.
UMAX Group Corp. announced the acquisition of Funny Media Group, LLC, a Los Angeles-based talent agency, acquiring 51.5% of its equity in exchange for 5 million shares of Series B Preferred Stock. This strategic move is aimed at expanding UMAX's media content portfolio, focusing on comedy productions. Notably, the Series B shares cannot convert to common stock for two years, safeguarding current shareholders against dilution. UMAX plans to leverage Funny Media's existing productions and develop new content for streaming platforms, targeting significant revenue growth.
UMAX Group Corp. announces the acquisition of Mazuma Transportation Company, based in Las Vegas, for 1,000,000 shares of Series B Preferred Stock. This acquisition adds over $1,300,000 in hard assets to UMAX's balance sheet with less than $200,000 in debt, aligning with their strategy of acquiring operational businesses with significant revenue potential. The contract restricts the conversion of Series B Preferred Stock for three years or until Mazuma achieves four profitable quarters. UMAX aims to capitalize on the growing demand for commercial trucking services in Las Vegas and Los Angeles.