CSMG Technologies, Inc. (CTGI) is an insolvent corporation deemed by Texas (its state of incorporation) as "not in good standing." CSMG cannot therefore legally transact ordinary business as a corporation.
On 01 March 2010, CSMG subsidiary Live Tissue Connect, Inc. (LTC) was voided by the state of Delaware (its state of incorporation) to which it owes about $500,000 in accruing and back taxes.
CSMG has not issued any news or public statements since August 2010.
As of the last financial report issued November 14, 2008, the company had total losses of $20,000,000 not counting further millions in losses and tax liens after 2008.
The founder and CEO of CSMG died in December 2009. The CFO (the firm's only acting principal formerly) is reportedly a defendant in a multi-million dollar lawsuit brought by a company alleging massive fraud.
In its 14 year history, neither the company nor its subsidiary has recorded any identifiable sales. Based on these circumstances, it is clear that insolvent and indebted CSMG Technologies, Inc. and subsidiary are out of business, if not entirely defunct.
"The past does not repeat itself, but it rhymes." Samuel Langhorne Clemens (1835-1910)
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