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CMG Holdings Group, Inc. (CMGO)

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Update in Progress 2/11/14


Ok, Lets first start with this bit of news released Jan 6th, 2014


"CMG Holdings, Inc. (“CMG” or “the company”) proudly announces today that for the first time in the history of the company, it is debt free."



CMG Holdings Group inc. Quick Background Summary (FergusVI):

The company first caught my eye in February 2008.  This is when Creative Management Group inc. was reverse merged into Pebble Beach Enterprises inc.  There was a change in control, a name change to CMG Holdings Inc.  This company was run by the old management, Alan Morell, Mike Vandetty, and Jim Ennis.  The future looked bright and the OS was around 42M.  

They quickly acquired the assets of Xa, The Experiential Agency in March, 2009. This was exciting because Xa was a proven revenue driver. The company has been around since 1989, through all markets.  Xa proved to be their main revenue source, as the talent management and commercial rights segments produced very little income.  Old management started issuing convertible notes, most likely to pay their large salaries of $675,000/yr. 

In March 2010, they closed on the AudioEye acquisition.  They paid $30k cash, 1.5 Million in shares and deferred capital commitments of 2.5 million over a few years.  Although the IP and patents AE possesed at the time were valuable, and had good independent valuations, history shows that they were ahead of the curve with this purchase and they had a hard time funding AE, as AE wasn't able to generate much revenue at that time.  It was also difficult to finance a subsidiary, under the umbrella of the holding company, so with this, AE was eventually spun off and became an independent public company trading in the OTC under symbol AEYE.  CMG at the time of spinoff was able to retire senior secured notes, give shareholders a dividend, and hold around 5M shares of AE on books, and they also had revenue sharing % of future AE sales and revenue.

There is a lot I'm leaving out, but essentially the company continued (Old Management) to issue more and more convertible notes.  Along the way, many organized long shareholders were accumulating millions and millions of shares. Many from the toxic convertible sales. The long shareholders had had enough and took matters into their own hands and effected a change in control, and instituted new management and a new direction.  Since then, new management has made some very shareholder friendly moves.  Mainly, they took the company to debt free status as cited above from the Jan 6, 2014 8K.  They also reduced the OS substantially, returned shares to the treasury and nullified other outstanding convertibles.  They appointed powerhouse new management additions to the BOD of CMGO and to XA.  They acquired Good Gaming llC, and are making an entrance into the ever growing Esports sector.  Links to follow.

New management sold a portion of their AEYE shares back to AudioEye. With these proceeds, they paid off all debt and are debt free. No convertible notes.  They still retained about 2.36Million shares of AEYE on the books.



Shareholders take back control of company!!!


CMGO's recent change in control summary. This is very rare in the OTC markets.


On November 26th 2012, groups of organized long shareholders sent written correspondence to the then

current management indicating they had 55% majority of the stock and wanted to ammend the corporate bylaws.


On December 13th, 2012, The Majority shareholders were successful in taking back control of the company and appointing a new board of directors and giving current management their departure notices.

On December 19th, The new Board of Directors added new management (Joseph Wagner COO) with industry experience, finalized on termination of old management, and instituted a lock up provision on old managements CMGO shares and AE shares, and retained 55% of UsaveCT and UsaveNJ subsidiaries.

On January 22, 2013, new management informs the shareholders of increased communication and updates, a new line of credit for XA, inc., expectations of dramatic increase in revenues (Revenues were already up in 2012 - 9 months ending Revenue 7.5Million).  They also informed shareholdes that AE dividend shares are with TA and ready for distribution around Mid Feb 2013.  Also informed us of possible corporate name change and ticker change to better reflect main revenue driver, XA, inc.


On August 5, 2013, new management informs the shareholders through an 8K that CMGO has come to an agreement that brings closure to the termination of old management in regards to shares and debt held by the aforementioned resulting in a 11.5% reduction in the company's Outstanding Float and the elimination of an $85,000 note plus two years interest at 20%. There will be a reversal of the $85K note on the company's books.




CMGO Security Details

Share Structure

Market Value1


a/o Feb 12, 2014

Shares Outstanding


a/o Feb 03, 2014



a/o Feb 03, 2014

Authorized Shares


a/o Feb 03, 2014

Par Value



Shareholders of Record


a/o Feb 03, 2014

Corporate Actions


Ex. Date

Record Date

Pay Date

Dividend ()

Feb 26, 2013

Oct 26, 2012

Feb 19, 2013

Dividend () *


Feb 11, 2008

Mar 04, 2008

Dividend (0.00) *


Feb 11, 2008

Mar 04, 2008


New Management

Acting CEO Jeff Devlin        

 Jeffrey Devlin, age 65, has been Executive Producer/Partner of Original Film, a movie production company, since 2002. He is also currently and since 2003 been the Chief Executive Officer of MediaLogic, an international consultancy and television production company and since November 2011 he has been Chief Marketing Officer and a director of The Broadsmoore Group, an investment advisory and merchant banking firm. Mr. Devlin has over 25 years of production experience in the advertising and entertainment industries. Mr. Devlin is currently a member of the Board of Directors of the United States Equestrian Team, Somerset Hills Handicapped Riders, Board of Advisors of Atari, and Executive Committee for the Association of Independent Commercial Producers (AICP). He is also a senior advisor to Sirius XM Satellite Radio.

Imaginative, multifaceted professional with over 25 years of combined experience in creative strategies, production management and new business development. Dynamic advertising and marketing expert who has recieved multiple industry awards. Responsible for the core development of fresh and sustainable, strategic marketing campaigns. Established long term positive working relationships with key clients in advertising and production community.

Board of Directors- United States Equestrian Team
Board of Advisors - United States Equestrian Team
Board of Advisors -Atari
Board of Directors-Somerset Hills Handicapped Riders
Sr. Advisor- Sirius/XM Sat Radio
Board of Directors - The Broadsmoore Group - Broadsmoore Group is a humanitarian, socially responsible, paradigm shifting merchant bank
Board of Directors Mojo Ventures, Inc.
Board of Directors, International Safety Group

 Sr VP SSCB Lintas, Head of Television Production. Supervised 30 agency producers, and 23 major brands. Launched the introduction of Diet Coke for the Coca-Cola company.

Devlin's industry honors include 17 CLIO Awards; 16 Andy Awards for advertising excellence; 21 Telly Awards for outstanding commercials; four Effie Media Awards; and a prestigious Gold Camera from the U.S. International Film Festival. His award-winning piece for Visa, Olympics, is on permanent display at the Museum of Modern Art (MOMA) in New York.


David Kovacs Board of Directors    
Jan 14th, 2014  http://www.sec.gov/Archives/edgar/data/1346655/000117892414000006/f8k1_form-cmgo.htm


A veteran of the investment banking and private equity sectors for over 10 years, Mr. Kovacs is currently the head of Investment Banking and Private Equity for Fitch Learning. Mr. Kovacs is also the Managing Director of Private Equity for Strategic Acquisitions, a $2 billion real estate investment firm. Prior to his current roles, Mr. Kovacs focused on private equity as a Managing Director at The Hinduju Group, one of the largest diversified groups in the world with over $50 billion under management. Mr. Kovacs also worked in various capacities at Citigroup and Blackstone Group in their investment banking and private equity divisions.
With the addition of Mr. Kovacs to the Board, CMG has acquired one of the most respected and brilliant minds in the world of investment and private equity. As a student at Columbia University and City University (NY), Mr. Kovacs completed his undergraduate degree at age 18, finishing the required coursework in two years and earning a triple major in Finance, Economics and Biochemistry.
The wealth of experience and breadth of knowledge that Mr. Kovacs brings to the Board will be invaluable as the Board seeks to enhance current strategies as well as devise new ones to help the company move forward with its current and future initiatives.
With his experience in mature and emerging markets as a training specialist in venture capital, investment banking, and private equity, Mr. Kovacs is also a highly coveted speaker. Mr. Kovacs has lectured at over 100 universities, including the majority of Ivy League schools. He was a lead instructor for the Securities & Exchange Commission and has given talks to industry leaders such as Barclays, JP Morgan, RBC, Morgan Stanley, Deutsche Bank and the Abu Dhabi Investment Authority.


Ron Burkhardt  Board of Directors and President of Xa/Executive Chairman        


Mr. Burkhardt, age 65, is and has been the CEO and Creative Director of Burkhardt Ltd. since January 2003, a company in the advertising and branding business.  Prior to forming his own agency, Mr. Burkhardt had varied roles as Senior Writer, Creative Supervisor and VP/Creative Group Head for multi-national agencies DDB, Young & Rubicam and Lowe in New York. He began his career at Campbell-Ewald in Detroit and later wrote for Kraft, Dial Soap and the Sears Diehard battery while with Foote-Cone-Belding in Chicago.  Mr. Burkhardt received his Bachelor in Business Administration degree in Advertising from Western Michigan University in Kalamazoo, Michigan and his Associates degree from Jackson Community College in Jackson, Michigan.
Mr. Burkhardt has won over 200 awards for creative and marketing excellence and produced scores of high-profile commercials, including a Super Bowl spot that won acclaim from the Wall Street Journal, Ad Age, and The New York Times. Ron has worked with many successful companies including Merrill Lynch, BellSouth, Kodak, Minolta, Coke, Philips and Olympus.
As CEO/Creative Director of Burkhardt Ltd., Mr. Burkhardt has created TV, online and brand campaigns for Heineken, Town & Country Real-Estate, Plaza-Athenee, BellSouth, Cohiba, The Mann Group,  Vikingfjord Vodka and the Outdoor Life Network. He also conceived and produced a 7-city, national summer beach tour event for Volvo/NA that included 30-foot sand castles, banner planes, seaside DJ’s and new Volvos parked on the sands with Swedish models explaining features and collecting buyers’ data.
Mr. Burkhardt has been featured as an industry expert on CNN, NBC, CBS, Inside Edition, American Journal, WVVH-Hamptons and PBS-TV/Aspen and was Executive-Producer of independent films for the Independent Film Channel and the Palm Springs International Film Festival. He's also a noted abstract artist who originated the Notism and EarthScape genres of contemporary American art.
Mr. Burkhardt also served seven years as Branding and TV Chair on the Board of Directors of the Miss America Organization in Atlantic City and Las Vegas, where he implemented changes and brought in key people that reversed prior Pageant TV rating declines and achieved new rating records.
Mr. Burkhardt’s charitable activities have included Southampton Hospital, CCBF, and the US Marines’ “Toys for Tots.” He sits on several boards, including a stint on the New York City Mayor’s Office advisory board, where he created a powerful branding campaign that raised $2 million and built the Korean War Veterans’ Memorial in Battery Park.



Business Overview:


CMG Holdings Group, Inc. is a marketing communications holding company focused on the acquisition and operation of organizations in the alternative advertising, digital media, experiential and interactive marketing, entertainment, Internet content publication and distribution technology sectors. Our Company was formed by a core group of executives who have held senior level positions with several of the largest companies in the entertainment and marketing management industry.  Our Company delivers customized marketing solutions at to optimize profitability by concentrating our resources in those segments of the marketing communications and entertainment industry.  Our Company operates in the sectors of experiential marketing, event marketing, Internet content publication and distribution software, commercial rights, and talent management.
Experiential marketing includes production and promotion, event designs, sponsorship evaluation, negotiation and activation, talent buying, show production, stage and set designs, data analysis and management. We also offer branding and design including graphic, industrial and package designs across traditional and new media and public relations, social media, media development and relations and interactive marketing platforms to provides our clients with a custom private digital media networks to design and develop individual broadcasting digital media channels for our clients’ to sell, promote and enhance their digital media video contents through mobile, online and social mediums.
Event Management includes marquis hospitality, sponsorships and licensing, broadcast production, and implementation of events including hospitality services to the most discriminating of clients in sports sectors including golf, tennis, equine and motor sports pairing corporate sponsors and premier events and leveraging that experience to ensure our clients receive the highest return on their investment and level of brand exposure. Our Company is dedicated to pursuing intellectual property rights of entertainment properties and offering these events through long-term entertainment hospitality packages for corporate sponsors’ and manage and implement on-site operations and logistical concerns. Our broadcast and production services secures, and negotiates electronic production, broadcast and syndication opportunities for our clients via network, cable television, radio and digital media.
Internet content publication and distribution software includes the offering of embedded audio navigation and Internet content publication and distribution software that enables conversion of any media into accessible formats and allows for real time distribution to end users on any Internet connected device. Our Company also offers a more comprehensive access to devices, Internet, print, broadcast and other media to all people regardless of their network connection, device, location, or disabilities. Our solutions include comprehensive E-Learning and E-Commerce systems, Internet publishing products and services that enable customers to create and deliver highly scalable web-based applications. We provide technology solutions that facilitate information accessibility via the web, mobile phones, and other devices for all people, with a special emphasis on those that have physical, learning, or visual impairment, as well Internet novices such as seniors, non-English readers, and children. Our subsidiary division, Audioeye Inc. owns the “Method and Apparatus for Website Navigation by the Visually Impaired” and “Method and System for Audible Website Navigation” patent portfolios which protect the rights to its proprietary technology. Our Company believes this technology is an indispensable component of the Internet accessibility industry as it exists today. Our focus is to create more comprehensive access to devices, internet, print, broadcast and other media through our technology solutions including comprehensive E-Learning and E-Commerce systems that enable interaction between brands and consumers.



XA, The Experiential Agency, Inc. - wholly owned subsidiary




Xa videos:



XA, The Experiential Agency, Inc., a wholly owned subsidiary of CMGO, has offices in Chicago and New York from which it provides corporations and highly visible brands with comprehensive event marketing, design and production services. The XA brand has a 20 year history and its team has been the creative force behind prestigious, national projects for such clients as NBC Universal, Unicef, Harrah's Entertainment, Conde Nast, McDonalds, W Hotels, Emirates Airline and Ritz Carlton.

At XA, we help our clients build their brands through innovative, authentic social media and PR tactics. We create environments of conversation and engagement to targeted consumers specific to that brand. We realize that each brand is unique and has their own set of consumers and goals. That is why at XA we handcraft a strategy that we then implement tailored towards you and your brand.

Our experience in public relations, as well as social media and digital marketing, helps us create unique and memorable exposure for our clients of all types and sizes.

Founded in 1989, XA has a staff of over 30 full-time employees with offices in Los Angeles, Chicago and New York City.

Salute to XA interview:


Amanda Puck announced Publicist/PR Executive of the Year (2011)!

Amanda Puck

Amanda Puck, an Executive Vice President of Public Relations, can be found at every exclusive social event in the city when she is not overseeing XA’s lifestyle, restaurant and non-profit clients. As a recognized leader in the hospitality, event, public relations and social media industries in Chicago she is responsible for the successful blend of traditional and new media tactics. Through her new and emerging media efforts, Amanda and her team take on the blogosphere and makes valuable connections that generate buzz, revenue and ROI for her clients.

A foodie first, Amanda was the Managing Partner of Spago Restaurant and also the two-time Emmy Award winning host of “Check, Please” on WTTW Channel 11 for its first two seasons in 2001 and 2002.

Amanda has also been prestigiously listed in Crain’s Chicago Business “40 Under 40” in 2010, and awarded by Biz Bash as Publicist of the Year in 2011.

Amanda graduated with a Bachelor’s Degree and Master of Professional Studies in Hotel Administration from Cornell University.



Jean Wilson

Jean Wilson, the Chief Operating Officer of XA, can be found antiquing in search of her next treasure when she is not overseeing day to day management of the company. Jean brings more than thirty years of experience in event and meeting planning to XA. During her tenure with a national production company and a professional association she was responsible for every facet of producing, selling and coordinating corporate special events, trade shows, conventions and seasonal decorating programs for a host of clients.

Her strong suits are operations and logistics.  A “no mess around, get down to business” approach that is solution oriented is the right on definition of Jean’s style.

Jean received a Bachelor’s Degree with Honors in Recreation/Leisure Studies with options in Commercial/Employee, General Administration and Therapeutic Recreation with a Business Administration minor from Eastern Illinois University.




eSPORTS Subsidiary



On Twitter:


On Facebook:



Corporate Financials 


For the Three Months Ended
September 30,
For the Nine Months Ended
June 30,
  $ 1,048,407     $ 374,104     $ 6,441,216     $ 7,517,163  
   Cost of revenues
    722,819       422,233       4,526,627       5,355,980  
   Depreciation and amortization
    -       -       -       74,850  
   General and administrative
    725,858       794,688       2,073,031       2,752,554  
      Total Operating Expenses
    1,448,677       1,216,921       6,599,658       8,183,384  
    (400,270 )     (842,817 )     (158,442 )     (666,221 )
  Gain (loss) on derivative liability
    153,096       (4,990 )     165,938       (598,153 )
  Gain on extinguishment of debt
    183,332       75,618       793,732       75,618  
  Unrealized gain (loss) on marketable
    (45,800 )     -       1,479,899       -  
   Other income (expense)
    (65 )     (19,083 )     (5,465 )     (19,083 )
   Interest expense
    (6,092 )     (103,167 )     (205,178 )     (790,992 )
       Total Other Income (Expense)
    284,471       (551,622 )     2,228,926       (1,332,610 )
Income (loss) from continuing operations
    (115,799 )     (894,439 )     2,070,484       (1,998,831 )
Loss from discontinued operations
    -       (146,698 )     -       (503,626 )
Income on sale of discontinued operations
    -       4,115,771       -       4,115,771  
  $  (115,799 )   $ 3,074,634     $  2,070,484     $ 1,613,314  



Company Charts


CMGO research report says target price is
77 cents (March 2011):





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Current Price
Bid Ask Day's Range
CMGO News: CMG Holdings, Inc. 'Chairman’s Letter' April 2014 04/16/2014 08:00:00 AM
CMGO News: CMG Holdings, Inc. 'Chairman’s Letter' April 2014 04/16/2014 08:00:00 AM
CMGO News: Annual Report (10-k) 04/15/2014 10:31:10 AM
CMGO News: Form 8-K - Current report 04/11/2014 03:14:58 PM
CMGO News: Good Gaming Vaults into the Forefront of the eSPORTS Marketplace 03/05/2014 07:45:00 AM
#46147  Sticky Note CBStocks67 and ALL with this huge CMGO DD MarqueeGemFinder 04/17/14 02:41:04 AM
#46098  Sticky Note $CMGO DD Notes ~ http://www.ddnotesmaker.com/CMGO[/c Boum-Yeah 04/15/14 08:58:06 PM
#45465  Sticky Note 8K, CMGO, Good Gaming acquisition complete! Pickle 04/03/14 01:46:57 PM
#43259  Sticky Note Jan 2014 8K~~ CMGO Completely Free of Toxic FergusVI 01/06/14 11:14:00 AM
#41677  Sticky Note Jeffrey Devlin FINRA 10/24/13 10:16:58 AM
#41545  Sticky Note CMG Holdings, Inc. Announces Partnership With Good Gaming, FergusVI 10/22/13 08:56:03 AM
#46289   http://www.glennlaken.com/glenn-laken/ FINRA 04/23/14 06:55:50 PM
#46288   I'll monitor and post any tweets that look Powercat23 04/23/14 03:54:35 PM
#46287   I don't use Tweet but it would be DeeDog 04/23/14 03:49:35 PM
#46286   I'm pretty sure he has bought on the DeeDog 04/23/14 03:47:06 PM
#46285   Thanks power just4fun2 04/23/14 12:34:37 PM
#46284   @GoodGamingInc Powercat23 04/23/14 12:33:42 PM
#46283   Quite a few twitter accounts have CMGO, good Pickle 04/23/14 12:32:28 PM
#46282   So what are they under in tweeter ? just4fun2 04/23/14 12:32:06 PM
#46281   Dang, I see that AYME MM is back Pickle 04/23/14 12:28:44 PM
#46280   $CMGO to the power of 10 with these tweeters FINRA 04/23/14 12:27:57 PM
#46279   Not having played a video game since nintendo funstock 04/23/14 12:26:50 PM
#46278   I see thank you Power funstock 04/23/14 12:25:40 PM
#46277   That is correct and they are ending their jcny 04/23/14 12:24:51 PM
#46276   Not being a tweeter myself, I believe once FINRA 04/23/14 12:22:14 PM
#46275   That's mostly true. Once you create a Powercat23 04/23/14 12:21:47 PM
#46274   I havn't really used twitter so maybe someone funstock 04/23/14 12:17:12 PM
#46273   So Sorry MR.L...No Aliases, but what a Fnn FINRA 04/23/14 11:37:22 AM
#46272   I think you mean Glenn Laken. He doesn't makingwaves 04/23/14 11:11:09 AM
#46271   I agree also funstock 04/23/14 11:08:45 AM
#46269   Glenn Laken is not only a shareholder but makingwaves 04/23/14 10:42:45 AM
#46268   NO, but as i understand- is a large FINRA 04/23/14 10:31:16 AM
#46267   If he is extraordinarily smart....YES!!! Buy guarantee FINRA 04/23/14 10:18:23 AM
#46266   FINRA - are you suggesting he is trying funstock 04/23/14 10:13:18 AM
#46265   Is that a fact that Mr. Glenn already funstock 04/23/14 10:10:32 AM
#46264   Hard to convince people to pull money out hyrpowr 04/23/14 09:58:25 AM
#46263   XA better ramp up as i believe GG FINRA 04/23/14 09:03:25 AM
#46262   If Mr.Laken an Entrepreneur as I suspect he is... FINRA 04/23/14 09:02:37 AM
#46261   StockScout1 is still invested in that company and makingwaves 04/23/14 09:01:49 AM
#46260   Are you serious? Wouldn't it be something if Lenard 04/23/14 08:30:04 AM
#46259   I would like to see some of the PlayMoneyBS 04/23/14 08:08:28 AM
#46258   Let me clarify one thing... Boum-Yeah 04/23/14 07:58:04 AM
#46257   PRs, we all know that we need them!!! Boum-Yeah 04/23/14 07:01:24 AM
#46256   Revenues are expected to increase by more then Boum-Yeah 04/22/14 04:27:21 PM
#46255   Gotcha - thanks! Powercat23 04/22/14 04:24:57 PM
#46254   The beta site is the testing site so makingwaves 04/22/14 04:23:02 PM
#46253   Cool. I'm not a tech guy so Powercat23 04/22/14 04:16:50 PM
#46252   Yes Power IF all goes as intended the makingwaves 04/22/14 04:12:51 PM
#46251   The Q will reflect great revs for XA makingwaves 04/22/14 04:08:29 PM
#46250   Good for you bud! Should be some nice hyrpowr 04/22/14 02:48:53 PM
#46249   Wow!! im outta bait what a great day Diver66 04/22/14 02:39:43 PM
#46248   I understand. When your timeline gets tight maybe hyrpowr 04/22/14 02:34:11 PM
#46247   I've been here two years now as I moraesk15 04/22/14 02:26:59 PM
#46246   We could possibly see the websites up - funstock 04/22/14 02:22:55 PM
#46245   We plan a spring launch with strong branding hyrpowr 04/22/14 02:21:49 PM
#46244   I don't. But I'm not one of Powercat23 04/22/14 02:00:52 PM
#46243   Thanks.. do you foresee anything happening before that moraesk15 04/22/14 01:57:59 PM
#46242   It is due 5/15 (45 days after quarter-end) Powercat23 04/22/14 01:56:24 PM
#46241   When is the deadline for the 10Q to moraesk15 04/22/14 01:54:02 PM
#46240   Hyrpwr where are you fishin is great today Diver66 04/22/14 11:24:37 AM