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CMG Holdings Group, Inc. (CMGO)

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Last Post: 10/24/2014 10:48:12 PM - Followers: 259 - Board type: Free - Posts Today: 0

Wed, 06 Aug 2014 16:30:22 GMT ~ Good Gaming Enters Closed Alpha Testing 

[Marketwired] - Good Gaming Inc. , an online destination for gamers who want to become professionals, is a wholly owned subsidiary of CMGO. The state-of-the-art Good Gaming platform will give amateur gamers access to ... 

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Mon, 21 Jul 2014 10:01:18 GMT ~ CMG HOLDINGS GROUP, INC. Files SEC form 8-K, Change in Directors or Principal Officers 

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Mon, 23 Jun 2014 15:23:00 GMT ~ CMGO's eSports Subsidiary, Good Gaming, Accelerates Original Timeline For New Unrivaled Web Platform 

[Accesswire] - CHICAGO, IL / ACCESSWIRE / June 23, 2014 / CMG HOLDINGS, INC, Chairman, Glenn Laken proudly announced the positive progress of its subsidiary, GOOD GAMING's web platform and media/splash page. Mr Laken ... 

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Sat, 24 May 2014 17:04:11 GMT ~ CMG HOLDINGS GROUP, INC. Financials 

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Thu, 15 May 2014 20:18:56 GMT ~ CMG HOLDINGS GROUP, INC. Files SEC form 10-Q, Quarterly Report 

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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.

Share Repurchase of 45,000,000 shares approved

On April 29, 2014, the Board of Directors of CMG Holdings Group, Inc. adopted a share repurchase program (the “Program”).  Pursuant to the Program, until April 29, 2016, the Company is authorized to repurchase up to 45,000,000 shares of Company common stock (as such amount may be adjusted by stock splits and other similar events). The purchases will be made at the discretion of the Company through open market repurchases and/or privately negotiated transactions in compliance with all applicable laws, rules and regulations, including Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The Program may be suspended or terminated at any time.


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


Glenn Laken, 60,  member of the Board, Chairman of the Board and Chief Executive Officer ("CEO")


Over the past 30 years, Mr. Laken has held multiple senior executive positions and created successful growth strategies in the financial services sector. His expansive professional experience includes working as an advisor to the 22 billion dollar Ameritech Pension fund, partnership in a Wall Street specialist firm, ownership of a Chicago clearing house with offices nationwide, and the purchase and restructuring of the Cigarette Racing Team Company. He has also enjoyed success in the area of mergers and acquisitions as an accomplished business leader.

In 2000 Mr. Laken was accused of conspiring to bribe union officials while raising money for a hedge fund and participating in an Internet stock promotion where the exact amount paid for that promotion wasn't clearly stated. These allegations, made by a government informant, resulted in conviction after a 15-week trial, despite the fact that Mr. Laken never met any union officials, received any union monies for his fund or directly contracted for the Internet promotion.

A Company shareholder since 2010, Mr. Laken organized a shareholder group that forced changes in Company management in 2012, after careful analysis revealed that the Company was failing to reach its potential due to mismanagement by the original management team. Since orchestrating this change, Mr. Laken has worked as Company consultant, introducing Jeffrey Devlin and David Kovacs to the Board, and bringing Ron Burkhardt on as a board member and executive chairman of XA, The Experiential Agency, Inc. ("XA"). He also introduced a new subsidiary partially owned by his wife, Good Gaming Inc., to the Companies portfolio and arranged the sale of Audio Eye, Inc. stock to fund the elimination of the Company's toxic debt.

In connection with his appointment as the Company's CEO and Chairman, Mr. Laken was granted forty million stock options with an exercise price of $0.0155 and a five-year term. The Company anticipates entering into an employment agreement with Mr. Laken by April 30, 2014.

Mr. Laken will continue to seek new opportunities to add shareholder value through organic growth of existing assets of CMG and acquisition of undervalued private and public companies. Mr. Laken has always believed in the strength of the underlying assets of CMG, and upon his appointment as Chairman and CEO, stated, "I'm looking forward to growing CMG into a world class company."



David Kovacs Board of Directors    
Jan 14th, 2014


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.



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:



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: Current Report Filing (8-k) 09/30/2014 05:26:24 PM
CMGO News: Quarterly Report (10-q) 08/14/2014 05:21:40 PM
CMGO News: Statement of Changes in Beneficial Ownership (4) 07/24/2014 09:36:36 AM
CMGO News: Current Report Filing (8-k) 07/21/2014 06:01:18 AM
CMGO News: Initial Statement of Beneficial Ownership (3) 07/16/2014 09:09:03 AM
#52531  Sticky Note Pretty good article here with Sam. Powercat23 10/23/14 06:07:30 PM
#52183  Sticky Note GOOD Gaming™ Announces $10,000 Hearthstone: ™ Heroes of FergusVI 10/15/14 02:39:22 PM
#50562  Sticky Note A little update Boum-Yeah 09/05/14 09:50:52 AM
#50493  Sticky Note CMGO's eSports Subsidiary, Good Gaming Strengthens Leadership Team FergusVI 09/04/14 09:08:12 AM
#50063  Sticky Note 10-Q is out! Powercat23 08/14/14 06:29:04 PM
#43259  Sticky Note Jan 2014 8K~~ CMGO Completely Free of Toxic FergusVI 01/06/14 11:14:00 AM
#52593   Sorry, but......LMAO hinkydink 10/24/14 10:48:12 PM
#52592   I put you on "iggy" in the past. hinkydink 10/24/14 10:46:19 PM
#52591   Looking Forward to some good news shortly!! cbrad10480 10/24/14 08:26:44 PM
#52590   Looks like the tournament is still scrambling, emails Pickle 10/24/14 06:58:58 PM
#52589   If these gamers like to gamble, CMGO seems Pickle 10/24/14 06:49:06 PM
#52588   Keep up the work, we are all in poincianamike 10/24/14 06:45:22 PM
#52587   off the hard stuff, for now, only red Pickle 10/24/14 06:43:54 PM
#52586   drink poincianamike 10/24/14 06:42:27 PM
#52585   So, I guess you don't play Hearthstone. Even Pickle 10/24/14 06:41:21 PM
#52584   If u live in Central Florida or the poincianamike 10/24/14 06:37:03 PM
#52583   Har! I hope you are signed up for Pickle 10/24/14 06:32:24 PM
#52582   I can and will say what I want poincianamike 10/24/14 06:27:45 PM
#52581   Thanks Lenard, we need to spell it out DeeDog 10/24/14 05:46:21 PM
#52580   Volume will take care of itself ... Once FINRA 10/24/14 04:37:32 PM
#52579   hinkydink 10/24/14 04:26:59 PM
#52578   Don't you have something better to do with hinkydink 10/24/14 04:26:47 PM
#52577   Sorry, wasn't meant to be directed at you, DeeDog 10/24/14 04:20:09 PM
#52576   We are on a roll, $219 of dollar volume. poincianamike 10/24/14 04:16:28 PM
#52575   No volume means lack of investor awareness. The poincianamike 10/24/14 03:52:14 PM
#52574   Just a thought here , if we post FINRA 10/24/14 03:37:49 PM
#52573   When the GG tournament is League of Legends, Pickle 10/24/14 03:25:28 PM
#52572   Hope the GG tournament is a success for Pickle 10/24/14 03:19:02 PM
#52571   You are dreaming if you think 8/10 posters giantkiller 10/24/14 03:10:13 PM
#52570   Volume speaks for itself. We have no investor poincianamike 10/24/14 02:28:14 PM
#52569   Yes a little nitro boost is definitely needed hyrpowr 10/24/14 01:22:06 PM
#52568   Cool, thanks. hinkydink 10/24/14 01:17:09 PM
#52566   That's the problem it's in a Yugo and makingwaves 10/24/14 01:14:36 PM
#52565   Yu-go is good - Just don't change the MRDALE 10/24/14 12:11:25 PM
#52564   GG Hearthstone tournament has a fairly popular "Shoutcaster", Pickle 10/24/14 11:43:50 AM
#52563   For now this stock is much more like hyrpowr 10/24/14 11:18:08 AM
#52562   The thing is, links have been posted left PlayMoneyBS 10/24/14 11:17:07 AM
#52561   I was going to post a false prize Lenard 10/24/14 11:14:26 AM
#52560   I like the steady part!!!! LOL To get makingwaves 10/24/14 11:12:40 AM
#52559   No reason to get snarky bud. Stock forums hyrpowr 10/24/14 11:12:04 AM
#52558   Yeah, I'm very aware, but at this point, PlayMoneyBS 10/24/14 11:04:50 AM
#52557   Total Prize Pool: $10,000 Lenard 10/24/14 11:03:24 AM
#52556   Which means they are not doing their DD PlayMoneyBS 10/24/14 11:01:16 AM
#52555   Aw c'mon! Grown men don't read the instructions! hyrpowr 10/24/14 10:55:10 AM
#52554   It's all listed in the Official Rules of PlayMoneyBS 10/24/14 10:50:28 AM
#52553   I was wondering what the lowest tier winnings hinkydink 10/24/14 09:58:09 AM
#52552   Somebody check my math on this. Right Powercat23 10/24/14 09:53:29 AM
#52551   $CMGO I LIKE THIS ONE $$ CMG Holdings, Inc. idig 10/24/14 08:17:33 AM
#52550   $CMGO NO DEBT, GREAT REVENUE, BIG NEWS IS idig 10/24/14 08:14:55 AM
#52549   Good Morning all. hinkydink 10/24/14 07:06:45 AM
#52548   932 members as of this post : ) Diver66 10/24/14 06:42:06 AM
#52547   Just gotta be in the right place at hyrpowr 10/24/14 02:05:42 AM
#52546   Maybe on day it will be pocket change. hinkydink 10/24/14 01:54:37 AM
#52545   Yeah someone tossed in 70 bucks at the hyrpowr 10/24/14 01:39:07 AM
#52544   Nice to see the green(er) paint at the EOD hinkydink 10/24/14 01:27:03 AM
#52543   Slow and steady huh? LOL! I think some hyrpowr 10/24/14 01:14:20 AM