One of the first actions CEO Laken effected upon change of control.
FACTS per SEC FILINGS:
Date: April 30, 2013
We are announcing today that we have retired the Asher Enterprises, Inc. convertible note . Unfortunately 4 million shares were converted before we could arrange the loan to retire the debt. The auditors had allocated approximate 37 million common share reserve for this transaction and a few others. With this pay down, approximately 16.5 million common shares will be retired. The last note remaining is due the middle of May and it is our intention to retire that convertible note as well, we are in the process of negotiating that currently.
Hmmm...CEO reducing OS and paying down notes~~~ Are these actions pro shareholder, or are they just like all the other paper printing pinksheet CEO's.
CEO's second major action.
Date: August 2, 2013
Briefly, our negotiations with certain parties have resulted in a reduction in the company’s outstanding float by roughly 11.5%. That means there will be a return to the company’s treasury of 33.9 million outstanding shares. An outstanding note for $85,000.00 (plus two years interest at 20%) has just been cancelled and there will be a reversal on the company’s books, for the benefit of our shareholders.
The company has also resolved certain issues concerning Mr. Morrell’s compensation package, on retiring from the Company. Agreement has been reached that certain of his options will be cancelled and his outstanding note for $122,000 was resolved for 2.2 million newly issued shares, reducing the chance that more than 18 million shares would have to be issued.
~~Management continues moving in same direction, pro shareholder.
Date: October 9, 2013
The Registrant announces today that it has signed an option agreement with Audio Eye symbol AEYE for the sale of CMG's position in Audio Eye, the sales price is 1.5 million dollars. The sale is to close no later than November 7, 2013. We are extremely pleased with this transaction, it will allow CMG to eradicate all of its outstanding debt and provide us with the capital to fund the operations of XA our wholly owned subsidiary.
Date: November 14, 2013
The Registrant announces today the completion of the settlement agreement with prior management, stated in the Form 8-K filed on August 5, 2013. The terms of the settlement changed slightly, however 31 million common shares were actually forfeited. The company determined that rather than litigate any further we would accept the 31 million shares and close the books on the past. These shares will be returned to the transfer agent and will be cancelled from the total outstanding shares.
~~Doesn't look, smell, or act like a stinky pinky CEO now does it?~~~
Date: November 14, 2013
The Registrant announces today that they have paid off the debt associated with Asher Enterprises. In addition a payment was made to Continental Equities as well, leaving a balance of $29,000. It is our intention to pay that debt off in the next 15 days. At that point all of the Registrant's "Toxic Debt" will have been extinguished. The Registrant will be without toxic debt on its books for the first time in the last 3 years. This is something we are very proud of and so should the shareholders be as well.
~~Not bad in first 8 months~~~
I think its clear what motivates management and the direction management has consistently moved in. If it wasn't for the non-performance of some hires and the outright theft of XA's revenues, Glenn would likely of never needed another note. Without CEO, this holding company would of folded. If there are any posters attempting to portray CMGO's management as another "stinky pinky", etc...they are fooling themselves only. The longs know what's happening here. All in black and white.
