CBMJ Reports Dramatic Financial Improvements Causing Positive Shareholder Equity along with the Launch of Patriot.TV/Elite Club Membership

Rhea-AI Summary

Conservative Broadcast Media & Journalism (CBMJ) reports significant improvements in its financials, including a rise in shareholder equity, a decrease in net operating loss, and reduced losses per share. The company launched 'Patriot Elite', a premium membership club on Patriot.TV, aiming to provide exclusive content and access to events influencing voters for the 2024 presidential election.

Positive

• Shareholder equity increased from negative $592k in 2022 to positive $1.75M in 2023.
• Net operating loss decreased from ($1.1M) in 2022 to ($350K) in 2023, a 68% improvement.
• Losses per share dropped to just ($.04) in 2023 compared to ($.25) in 2022, an 84% improvement.
• CBMJ attributes the progress to acquiring higher margin media operations in 2023 and reducing expenses.
• The company launched 'Patriot Elite', a premium membership club on Patriot.TV, offering exclusive content and event access.
• The company began operating Patriot.TV in Q-1 of 2024 and unveiled a new website, experiencing rapid growth and adding new hosts and shows.

Negative

• None.

VENICE, FL / ACCESSWIRE / April 2, 2024 / Conservative Broadcast Media & Journalism (OTC PINK:CBMJ) reveals in its recently filed annual report significant improvements to its Income Statement and Balance Sheet. It is also pleased to announce that it has successfully launched "Patriot Elite", a premium Patriot.TV club membership.

Some highlights of the improvements reported include that Shareholder equity increased from (negative $592k in 2022) to positive $1.75M in 2023, net operating loss fell significantly from ($1.1M) in 2022 to ($350K) in 2023 (a 68% improvement), and losses fell to just ($.04) per share for 2023 versus a loss of ($.25) per share in 2022 (an 84% improvement).

The progress is primarily the result of CBMJ acquiring higher margin media operations in 2023 coupled with a reduction in expenses. The annual report can be viewed in its entirety at https://www.otcmarkets.com/otcapi/company/financial-report/396305/content

CEO Mark Schaftlein stated the following, "With the initial acquisition of American Media Periscope and the integration with the Patriot.TV acquisition at the end of 2023, the company is well positioned to grow its flagship conservative media platform Patriot.TV.

On March 29th and 30th, the company launched Patriot.TV/Elite, a premium membership club dedicated to providing its members exclusive content beyond the free content provided daily on Patriot.TV. Viewers can go to https://patriot.tv/elite to sign up for Patriot Elite.

President Brannon Howse and Director General Michael Flynn spearheaded a 2 day initial membership drive with interviews of major political leaders such as Vivek Ramaswamy, commentators, and show hosts.

Patriot.TV President Brannon Howse added, "Patriot.TV/Elite is an exclusive club where members will enjoy premium content and access to events around the country which influence voters choices for the upcoming 2024 presidential election providing behind the scenes access to the action."

The company began operating Patriot.TV in Q-1 of 2024 at the end of February so those initial results will be reflected in Q-1 2024 results. AMP News Inc. operations accounted for the 2023 improvements. One month ago, Patriot.TV unveiled its state-of-the-art website, marking a significant milestone in the evolution of media consumption. In the weeks following, it has experienced rapid growth and continues to add top notch hosts and shows to the lineup. Take a look at www.patriot.tv

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: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 were the financial improvements reported by CBMJ in its annual report?

CBMJ reported an increase in shareholder equity, a decrease in net operating loss, and reduced losses per share in its annual report.

What is the name of the premium membership club launched by CBMJ?

CBMJ launched 'Patriot Elite', a premium membership club on Patriot.TV.

Who spearheaded the initial membership drive for Patriot Elite?

President Brannon Howse and Director General Michael Flynn spearheaded the initial membership drive for Patriot Elite.

When did CBMJ begin operating Patriot.TV?

CBMJ began operating Patriot.TV in Q-1 of 2024.

What milestone did Patriot.TV achieve recently?

Patriot.TV unveiled its state-of-the-art website, marking a significant milestone in the evolution of media consumption.