Light Media Achieves Debt-Free Goal

Rhea-AI Summary

Light Media (OTC: LGMH) announced its achievement of a debt-free status ahead of its fiscal year-end on December 31, 2020. This milestone provides LGMH with enhanced security, flexibility, and control for strategic growth initiatives. The company aims to position itself favorably for the White House’s $500 Billion Platinum Plan, which focuses on investing in the Black community and businesses. LGMH seeks to be recognized among the top five Black-founded publicly traded companies to potentially benefit from these financial opportunities.

Positive

• Achieved debt-free status before December 31, 2020.
• Enhanced security, flexibility, and control for strategic initiatives.
• Positioning for potential benefits from the $500 Billion Platinum Plan.

Negative

• None.

Seeks First-In-Line Positioning for $500 Billion Platinum Plan

Atlanta, GA and New York, NY, Oct. 13, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- Light Media (OTC MARKETS: LGMH), Global Media Specialist, announced today that it has achieved its goal of being debt-free prior to the end of its 12/31 fiscal year. LGMH continues to move steadily forward with strategic efforts to accelerate growth either organically via focused sales initiatives and/or via alliance, merger/acquisition, in furtherance of the mission to be second to none in the markets that it serves.

Quoting Danny Wilson, CEO, Light Media Network, "Having a free and clear balance sheet, during these extremely opportunistic times, provides three powerful strategic benefits to LGMH: (1) Security (e.g. debt elimination), (2) Flexibility (e.g. strategic initiatives) and (3) Control (e.g. investments).  With the White House’s $500 Billion Platinum Plan promise in focus, LGMH is working diligently to be positioned as first-in-line for any financial benefits that should flow to the Top Five (5) Key Black founded publicly-traded companies in the world, and not being over-encumbered will provide a competitive edge.”

About White House $500 Billion Platinum Plan:  On September 25, 2020, the White House released what it called the ‘Platinum Plan’.  The Platinum Plan’s objective is to invest $500 Billion into the black community, businesses, entrepreneurs and create long-term, sustainable opportunities for advancement and growth (the first plan/promise of its type ever released by any administration).  For more information, please visit: https://apnews.com/press-release/newmediawire/business-television-hotel-operators-media-tv-news-c992e90adec6eae531813efb459a19db

About Top Five (5) Key Black Founded Publicly-Traded Companies In The World:  Out of 14,000 publicly-traded firms in the world, only five (5) key ones are founded by African-American entrepreneurs. These five (5) key black founded publicly-traded firms cover: finance, technology, and media. For more information, please visit: https://www.nasdaq.com/press-release/top-five-5-key-black-publicly-traded-companies-in-the-world-2020-08-26

About Light Media:  Light Media (OTC: LGMH), Global Media Specialist, via its internet, radio, television and special events asset platforms, specializes in the marketing and distribution of inspirational music, video, apps (audio, visual, games) and entertainment worldwide. LGMH has been steadily investing and reinvesting in its quest to build a leading, global multi-media conglomerate by delivering to the chosen target market community environments. Light Media has been recognized by RBR as one of the Top 25 US-based publicly-traded radio/media companies, and by NYU School of Business as one of the Top 1000 media companies in the world. For more information, please visit: www.LightMediaNetwork.com. To listen to Light Media's flagship radio station franchise "The King," serving Top 10 US Media market of Metro Atlanta, Georgia, please visit: www.1055TheKing.com or www.1021TheKing.com. For more information, please visit:www.LightMediaNetwork.com; www.LGMH.com; or www.InvaluableMedia.com

Cautionary Note Regarding Forward-Looking Statements: This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Light Media (OTC: "LGMH") and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

PCG Advisory
646-823-8656
lgmh@lightmedianetwork.com

FAQ

What is Light Media's latest achievement related to debt?

Light Media (LGMH) announced that it has achieved a debt-free status before the end of its fiscal year on December 31, 2020.

How does Light Media plan to benefit from the $500 Billion Platinum Plan?

Light Media is positioning itself to be first in line for financial benefits from the $500 Billion Platinum Plan aimed at investing in the Black community.

What are the strategic benefits of LGMH being debt-free?

Being debt-free provides Light Media with security, flexibility, and control over its strategic growth initiatives.

When was the $500 Billion Platinum Plan launched?

The Platinum Plan was released by the White House on September 25, 2020.