CBMJ Reduces Debt 44% by Restructuring AMP News Note - Additional Reductions to Follow Over Next Six Months
Conservative Broadcast Media & Journalism (CBMJ) has announced a significant debt reduction of approximately 44% through the restructuring of its AMP News note. The company has restructured the remaining $1.89M balance from the original $2.0M note related to the AMP News acquisition of American Media Periscope 's assets.
The restructuring includes: a new $110K note payable over two years, conversion of $175K into 3.5M restricted common shares, a $50K cash payment, and a $100K assignment to a CBMJ investor. The company will record approximately $1.155M as cancellation of indebtedness income in Q1. The remaining $300K will be extinguished or assigned over the next six months.
I Media Broadcast Conservatori e il Giornalismo (CBMJ) hanno annunciato una significativa riduzione del debito di circa il 44% attraverso la ristrutturazione della nota AMP News. L'azienda ha ristrutturato il saldo residuo di 1,89 milioni di dollari rispetto alla nota originale di 2,0 milioni di dollari relativa all'acquisizione da parte di AMP News degli asset di American Media Periscope.
La ristrutturazione include: una nuova nota di 110.000 dollari da pagare in due anni, la conversione di 175.000 dollari in 3,5 milioni di azioni comuni restrittive, un pagamento in contante di 50.000 dollari e un'assegnazione di 100.000 dollari a un investitore di CBMJ. L'azienda registrerà circa 1,155 milioni di dollari come reddito da cancellazione di debito nel primo trimestre. I restanti 300.000 dollari saranno estinti o assegnati nei prossimi sei mesi.
Los Medios de Difusión Conservadores y el Periodismo (CBMJ) han anunciado una reducción significativa de la deuda de aproximadamente el 44% a través de la reestructuración de su nota AMP News. La empresa ha reestructurado el saldo restante de 1,89 millones de dólares de la nota original de 2,0 millones de dólares relacionada con la adquisición de activos de American Media Periscope por parte de AMP News.
La reestructuración incluye: una nueva nota de 110,000 dólares pagadera en dos años, la conversión de 175,000 dólares en 3,5 millones de acciones comunes restringidas, un pago en efectivo de 50,000 dólares y una asignación de 100,000 dólares a un inversor de CBMJ. La empresa registrará aproximadamente 1,155 millones de dólares como ingresos por cancelación de deuda en el primer trimestre. Los restantes 300,000 dólares se extinguirán o asignarán en los próximos seis meses.
보수적 방송 미디어 및 저널리즘 (CBMJ)는 AMP 뉴스 노트의 구조 조정을 통해 약 44%의 상당한 부채 감소를 발표했습니다. 회사는 AMP 뉴스가 American Media Periscope의 자산을 인수하는 것과 관련하여 원래 200만 달러에서 남은 189만 달러 잔액을 재구성했습니다.
구조 조정에는: 2년에 걸쳐 지급할 11만 달러의 새로운 노트, 17만 5천 달러를 350만 주의 제한된 보통주로 전환, 5만 달러의 현금 지불, 그리고 CBMJ 투자자에게 10만 달러의 할당이 포함됩니다. 회사는 1분기에 약 115만 5천 달러를 부채 취소 소득으로 기록할 것입니다. 나머지 30만 달러는 향후 6개월 동안 소멸되거나 할당될 것입니다.
Médias de Diffusion Conservateurs et Journalisme (CBMJ) a annoncé une réduction significative de la dette d'environ 44 % grâce à la restructuration de sa note AMP News. La société a restructuré le solde restant de 1,89 million de dollars par rapport à la note originale de 2,0 millions de dollars liée à l'acquisition par AMP News des actifs d'American Media Periscope.
La restructuration comprend : une nouvelle note de 110 000 dollars payable sur deux ans, la conversion de 175 000 dollars en 3,5 millions d'actions ordinaires restreintes, un paiement en espèces de 50 000 dollars et une attribution de 100 000 dollars à un investisseur de CBMJ. La société enregistrera environ 1,155 million de dollars comme revenus d'annulation de dettes au premier trimestre. Les 300 000 dollars restants seront éteints ou attribués au cours des six prochains mois.
Konservative Rundfunkmedien und Journalismus (CBMJ) haben eine signifikante Reduzierung der Schulden um etwa 44% durch die Umstrukturierung ihrer AMP News-Note angekündigt. Das Unternehmen hat den verbleibenden Saldo von 1,89 Millionen Dollar aus der ursprünglichen Note von 2,0 Millionen Dollar, die mit der Akquisition der Vermögenswerte von American Media Periscope durch AMP News verbunden ist, umstrukturiert.
Die Umstrukturierung umfasst: eine neue Note über 110.000 Dollar, die über zwei Jahre zahlbar ist, die Umwandlung von 175.000 Dollar in 3,5 Millionen eingeschränkte Stammaktien, eine Barzahlung von 50.000 Dollar und eine Zuweisung von 100.000 Dollar an einen CBMJ-Investor. Das Unternehmen wird etwa 1,155 Millionen Dollar als Einkünfte aus der Schuldenerlassbuchung im ersten Quartal verbuchen. Die verbleibenden 300.000 Dollar werden in den nächsten sechs Monaten erloschen oder zugewiesen.
- 44% reduction in overall debt
- Restructuring of $1.89M debt to just $110K in payable notes
- $1.155M debt cancellation to be recorded as income in Q1
- Remaining $300K to be extinguished within 6 months
- Dilution of shareholder value through issuance of 3.5M new restricted common shares
ATLANTA, GA / ACCESS Newswire / February 19, 2025 / Conservative Broadcast Media & Journalism (OTC PINK:CBMJ) announced that it has reduced its overall debt by approximately
Under the new terms, the remaining
Approximately
The remaining
Commentating on the transaction, CEO Mark Schaftlein stated the following "This restructuring materially improves the balance sheet of the company.
We are happy to have worked with the founder of American Media Periscope LLC, John Chambers, on this restructuring and for the long-term benefit this brings"
About Patriot.TV: Patriot.TV is a leading media broadcast platform wholly owned by CBMJ 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: (OTC 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 ACCESS Newswire
FAQ
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