CMGO CMG HOLDINGS GROUP, INC. FILES (8-K) Disclosi
Post# of 72741
Posted On: 10/09/2013 12:24:03 PM
[b]CMGO CMG HOLDINGS GROUP, INC. FILES (8-K) Disclosing Other Events Edgar Online "Glimpses"
Item 8.01 Other Events.
CMGO Security Details
Share Structure
Market Value1 $1,767,904 a/o Oct 08, 2013
Shares Outstanding 294,650,743 a/o May 20, 2013
Float 67,487,296 a/o Nov 21, 2011
Authorized Shares 450,000,000 a/o Nov 21, 2011
The Registrant announces today that it has signed an option agreement with Audio Eye symbol AEYE for the sale of CMG's position in Audio Eye, the sales price is 1.5 million dollars . The sale is to close no later than November 7, 2013 . We are extremely pleased with this transaction, it will allow CMG to eradicate all of its outstanding debt and provide us with the capital to fund the operations of XA our wholly owned subsidiary. With this infusion of capital XA's sales should be dramatically increased and with that profit margins will increase exponentially as well. In addition we are going to be entering into a new and exciting venture in the burgeoning eSports area, the negotiations are near completion and we should have a announcement within the next week or two.
While we have been quiet as of late, we have been working diligently to create value for our shareholders, these are the two first steps in that direction. You can expect a number of actions in the coming weeks and we will be announcing them as they occur. Our approach has been to only make statements when we have something meaningful to say. While we understand that this can be frustrating during periods of silence, it allows us to make our news releases more relevant. We are coming in to a period where you are going to hear from us more frequently. Once again thanks for all your patience and we will be back to you shortly.
Item 8.01 Other Events.
CMGO Security Details
Share Structure
Market Value1 $1,767,904 a/o Oct 08, 2013
Shares Outstanding 294,650,743 a/o May 20, 2013
Float 67,487,296 a/o Nov 21, 2011
Authorized Shares 450,000,000 a/o Nov 21, 2011
The Registrant announces today that it has signed an option agreement with Audio Eye symbol AEYE for the sale of CMG's position in Audio Eye, the sales price is 1.5 million dollars . The sale is to close no later than November 7, 2013 . We are extremely pleased with this transaction, it will allow CMG to eradicate all of its outstanding debt and provide us with the capital to fund the operations of XA our wholly owned subsidiary. With this infusion of capital XA's sales should be dramatically increased and with that profit margins will increase exponentially as well. In addition we are going to be entering into a new and exciting venture in the burgeoning eSports area, the negotiations are near completion and we should have a announcement within the next week or two.
While we have been quiet as of late, we have been working diligently to create value for our shareholders, these are the two first steps in that direction. You can expect a number of actions in the coming weeks and we will be announcing them as they occur. Our approach has been to only make statements when we have something meaningful to say. While we understand that this can be frustrating during periods of silence, it allows us to make our news releases more relevant. We are coming in to a period where you are going to hear from us more frequently. Once again thanks for all your patience and we will be back to you shortly.
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