Cmg Holdings - CMGO STOCK NEWS

CMG Holdings Group, Inc. (OTC: CMGO) reported a significant revenue increase in Q3 2022, reaching $911,206, up from $567,626 in Q2 and $407,929 in Q1. The subsidiary XA, focused on experiential marketing, also generated a net income of $245,822. CEO Glenn Laken highlighted the importance of their Magnetic Vacuum Upgrading (MVU) technology, stating it as crucial for the company's future. The company is committed to keeping shareholders informed about ongoing developments, especially regarding the MVU project.

CMG Holdings Group, Inc. (OTC: CMGO) announced a six-month extension of its loan with no additional fees or interest, following a positive site visit from its lender to an oil technology project in which it has invested. CEO Glenn Laken highlighted the impressive progress at the facility aimed at improving oil quality. Additionally, CMGO's subsidiary, XA, reported a significant revenue increase of 67% in Q3, surpassing $850,000. The company continues to explore direct funding options with its lender.

CMG Holdings Group, Inc. (OTC: CMGO) CEO Glenn Laken asserts his innocence regarding SEC allegations, expressing confidence in his legal representation. He emphasizes that business operations remain stable, with no impact from these allegations on their subsidiary, XA – The Experiential Agency. XA is reportedly outperforming expectations in Q2 2022 and anticipates continued success with upcoming holiday campaigns. Additionally, progress in the company's oil technology project is noted, with updates expected later this month.

CMG Holdings Group, Inc. (OTC: CMGO) reported a revenue increase of 234% in its Form 10Q for the period ending June 30, 2022, totaling $975,555 compared to $292,284 in 2021. Key achievements include support for a major pharmaceutical event in New York and collaboration with Daily Harvest for a product launch in Venice Beach. CEO Glenn B. Laken emphasized the importance of their Magnetic Vacuum Upgrading technology in enhancing low-grade petroleum. The company is also facing a lawsuit alleging patent violations, though CMGO is not named in the case.

CMG Holdings Group reported a remarkable revenue increase of 1,100%, reaching $1,618,874 for the fiscal year ending December 31, 2021, compared to $140,758 in 2020. Net income rose to $782,212, a staggering 1,820% increase from the previous year's $42,974. Working capital also surged 850% to $702,906. This growth is attributed to the success of its subsidiary, XA, The Experiential Agency, which has worked with notable clients like J. Crew and Timberland in 2021.

In 2022, XA has continued to thrive, organizing significant events including collaboration with Genesis Pharmaceuticals.

CMG Holdings Group, Inc. (OTC: CMGO) has launched the "Great Calling," a public relations campaign aimed at promoting UK tourism. The campaign features immersive experiences, including the world's first AI Banquet, allowing guests to interact with AI-generated dinner guests. XA, CMGO's subsidiary, anticipates revenues of up to $4 million in 2022 due to increased client interest from brands like J. Crew and Timberland. CMGO's CEO expressed optimism about future growth, though the company faces uncertainties related to financing and market conditions.

CMG Holdings Group (OTC:CMGO) is making significant strides in the petroleum sector and tourism marketing. The company is relocating its Magnetic Vacuum Upgrading (MVU) technology to a larger facility in southern New Jersey, enhancing profitability potential by improving low-grade petroleum quality. Additionally, its subsidiary XA will launch a $2 million tourism campaign for a European nation in New York City, managed by a top global advertising agency. These developments aim to increase environmental benefits, secure carbon credits, and bolster shareholder value.

CMG Holding Group, Inc. (OTC: CMGO) has engaged E&E Communications to enhance its investor relations efforts, aiming to attract new investors. E&E Communications has extensive experience working with public companies globally. Paul Knopick, a principal at E&E, expressed confidence in CMGO's potential, highlighting recent stock purchases by the CEO as a sign of commitment to shareholders. The collaboration is poised to narrate CMGO's story effectively to prospective investors, indicating a proactive approach to strengthening investor confidence.

CMG Holding Group, Inc. (OTC: CMGO) announced a successful public event in New York City called 'eat a billboard,' where attendees enjoyed holiday cakes promoting Gelesis' Plenity®, an FDA-cleared weight management product. The event aimed to challenge misconceptions about dieting and satisfied a balanced diet. CEO Glenn B. Laken highlighted the media coverage and plans for future events to engage shareholders. CMG is focused on innovative experiential marketing through its subsidiary, XA, The Experiential Agency.