CBMJ Exceeds Expectations Growing Revenue 532% for Q-2 Year over Year While Reducing Share Count by Over 8.5%

Rhea-AI Summary

Conservative Broadcast Media & Journalism (CBMJ) reported impressive Q2 2024 financial results, showcasing significant growth. Key highlights include:

- 532% year-over-year revenue increase to $486K for Q2 2024
- 469% revenue growth to $852K for the first half of 2024
- 8.5% reduction in share count to 49.3M shares
- 69% increase in total current assets since December 31, 2023
- 3.8% decrease in total current liabilities
- 6% rise in stockholders' equity

CBMJ generates revenue through show sponsorships, Patriot Defenders Program memberships, affiliate sales, and precious metals sales. The company operates Patriot.TV and PatriotTV.store. CBMJ has completed PCAOB certified audits, meeting requirements for potential uplisting to senior exchanges.

Positive

• 532% year-over-year revenue increase to $486K for Q2 2024
• 469% revenue growth to $852K for the first half of 2024
• 8.5% reduction in share count to 49.3M shares
• 69% increase in total current assets since December 31, 2023
• 3.8% decrease in total current liabilities
• 6% rise in stockholders' equity
• Completion of PCAOB certified audits, meeting requirements for potential uplisting to senior exchanges

Negative

• Net loss of $90K for the three months ending June 30, 2024

VENICE, FL / ACCESSWIRE / August 14, 2024 / Conservative Broadcast Media & Journalism (OTC PINK:CBMJ) through its subsidiary Patriot.TV posted stronger than expected results in its recent quarterly filing with OTC Markets. The full posting can be viewed at:

https://www.otcmarkets.com/otcapi/company/financial-report/409226/content

Some highlights of the Q-2 financials include

1. Increases in quarterly revenue of $486K for the quarter ending 6-30-24 growing 532% over the same period in 2023.

2. For the six months ending 6-30-24, revenue was up 469% over 2023 to $852K.

3. For the three months ending June 30th, the company recorded a net loss of $90K or $0.00 per share.

4. The issued and outstanding share count was reduced by 4.3M to 49.3M because of a return to treasury of previously issued shares in Q-1 2024.

5. Total Current assets increased 69% since December 31^st, 2023, while total current liabilities decreased by 3.8% in the same period.

6. Stockholders' Equity rose 6% since December 31, 2023.

The company's CEO Mark Schaftlein stated that "The momentum and dedication of the whole team from production, hosts, marketing, corporate governance, accounting, and our audience is becoming infectious. The results are showing, and we are getting noticed by our legacy media counterparts as we gain viewers by providing truth based uncensored content."

The company generates revenue through its Show Sponsorships, Membership in its exclusive Patriot Defenders Program, Affiliate sales from marketing and its
long term Patriot program for gold and silver precious metals sales.

In addition to its streaming platform Patriot.TV, the company operates PatriotTV.store, its online retail store.

CBMJ recently announced that it completed PCAOB certified audits of its most recent two years of financials. The audits are consistent with and meet requirements for uplisting to senior exchanges.

About Patriot.TV: Patriot.TV is a 24/7 streaming programming company wholly owned by CBMJ whose goal is to deliver top quality content to its growing viewership. As a leading media broadcast platform it is dedicated to providing cutting-edge, informative content across television, radio, and online platforms. With a focus on truth, freedom, and empowering narratives, Patriot.TV is at the forefront of shaping the future of media consumption. Visit www.patriot.tv for more information.

About CBMJ: (PINK:CBMJ) Conservative Broadcast Media and Journalism is a media and web-based Patriot Company.

Forward-Looking Statements: This release contains 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. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com . These risks and uncertainties could cause the company's actual results to differ materially.

Mark Schaftlein
877-704-6773

SOURCE: Conservative Broadcast Media & Journalism, Inc.

View the original press release on accesswire.com

FAQ

What was CBMJ's revenue growth in Q2 2024 compared to Q2 2023?

CBMJ reported a 532% year-over-year revenue increase for Q2 2024 compared to Q2 2023, with revenue reaching $486K.

How much did CBMJ reduce its share count in Q1 2024?

CBMJ reduced its issued and outstanding share count by 4.3 million shares to 49.3 million in Q1 2024, representing an 8.5% reduction.

What was CBMJ's revenue for the first half of 2024?

CBMJ reported revenue of $852K for the first half of 2024, representing a 469% increase compared to the same period in 2023.

Has CBMJ completed PCAOB certified audits for potential uplisting?

Yes, CBMJ has completed PCAOB certified audits of its most recent two years of financials, meeting requirements for potential uplisting to senior exchanges.