Home > Boards > US OTC > Miscellaneous >

CMG Holdings Group, Inc. (CMGO)

Add CMGO Price Alert      Hide Sticky   Hide Intro
Moderator: FergusVI, Pic
Search This Board: 
Last Post: 3/21/2018 9:58:08 AM - Followers: 295 - Board type: Free - Posts Today: 2

Hollywood Party Planners Fighting $200 Million Conspiracy Lawsuit 

CMG Holdings Group, as successor to XA The Experimental Agency, Inc. v. Wagner (1:15-cv-05814)


CMGO Management

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

Image result for glenn laken

On April 7, 2014 the Board of Directors (the "Board") of CMG Holdings Group, Inc. ("CMG Holdings" or the "the Company"), appointed Glenn Laken, 60, as a member of the Board, Chairman of the Board and Chief Executive Officer ("CEO"). Acting CEO Jeffrey Devlin will remain with the company as its Vice-Chairman of the Board.
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.”
There are no arrangements or understandings between Mr. Laken and any other persons pursuant to which he was selected as Chairman and Chief Executive Officer. There are also no family relationships between Mr. Laken and any director or executive officer of the Company.

Every long owes Glenn Laken, CEO, a bunch of gratitude. He has saved this company from going completely under. Most of you know that I have been around a long time...before the stock went to .40 from .025. Here is my synopsis of the past 8 year history, starting with Pebble Beach..... 

1. Around Feb 08..CMG inc. rev merges into Pebble Beach inc. Pebble beach management resigns and Morrel, Ennis, and Vendetty take over. Collectively there are 80 shareholders. AS is 150M 
2. May 08 they close agreement..roughly 40M OS split by previous and new management. 
3. Ennis almost immediately issues 12 convertible notes 
4. In 2009, after foreclosing on 150k note to wagner, XA and all assets are acquired. Nice start to a friendly working relationship eh' 
5. Morrel and company fail to bring in any "real revenue's" but XA seems to be doing well...Convertible's continue to be issues. 
6. PPS goes from .024 to .40 when OS was reasonable. 
7. Notes issuance continue's 
8. Shareholders, Mr. Laken, etc...inquire why Ennis is hands off manager and 
9. LOI for AudioEye 9/2009 
10.3/2010 they finalize on AEYE 
11.Notes continue to be issued. 
12.Management creates large salaries..issues shares 
13.Glenn Laken questions management 
14.Management doesn't like it. 
15.6/11 management announces AE spinoff realizing it cant fund them 
16.8/12 they finally close AE deal 
17.9/12 CEO Morel steps down. Ennis takes over. 
18.Glenn Laken leads shareholders to effect change in control of CMGO 
19.11/12 Official notice given to Ennis of change of control 
20.11/12 GL and holders demonstrate 162M shares(55%) take over co 
21.Glenn appoints highly decorated Jeff Devlin to BOD 
22.12/12 Joe Wagner appointed COO 
23.Glenn is literally handed garbage bags full of documents, files, etc 
and has to make sense of just what past management did exactly. Starts due diligence process on XA etc. 
24.2/13 AEYE shares dispensed 
25.Glenn see's more clearly the mess he has been handed and calculates appx 100k Notes and 165K penalties on books.. 
26.Glenn Laken, CEO, develops plan to eliminate debt with AEYE shares. 
27.4/13 Glenn retires Asher note saving 16.5 M shares 
28.Glenn Laken, CEO, continues to clean house and get clarity on mess he was left, 8/13 announces great success in his negotiations to reduce the OS by appx 11.5% === returns 40M shares to treasury. Gets 85K note cancelled 
29.During same month, re negotiates Morrels walking package, kills options and outstanding note resolved for 2M shares eliminating potential 18M to convert. 
30.10/13 announce sale of AEYE shares for 1.5M..plans to eliminate all debt and inject capital into XA 
31.11/13 Glenn laken pays off more debt and announces that he received 85K from Audio eye. Tells shareholders they are about to have zero convertibles on the books for first time in 3 years. 
32.1/6/14 Glenn Laken announces for first time in company history it is debt free. 
33.2/14 announce hiring of Burkhadt and step down of other board members. 
Burkhardt comes with stellar past successes. 
34.4/14 announce acquisition of Good Gaming inc. 
35.4/14 CMGO announces share repurchase program effective to 4/16 
36.7/14 Glenn realizes that Burkhardt is not doing what they agreed upon and announces his termination 
37.9/14 Glenn accepts Devlins resignation as he provided little value to growing the business, but like Burhardt was expensing travel...etc.... 
38.11/14 Glenn Laken, CEO announces forensic investigation into XA revealed substantial patterns of fraud by XA management and execs. Announces lawsuit in supreme court of NY against XA fraudsters. 
39.3/15 XA's asset sale to CMG finalized. 
40.7/15 Glenn Laken, Chairman and CEO of CMG Holdings announced today that Company management has arranged financing for all litigation costs related to CMG’s civil RICO lawsuit against Hudson Gray, Studio AG, Mixed Company and the Hudson Defendants. Under the terms of this arrangement, CMG’s only financial responsibilities will be out of pocket expenses, such as experts and deposition costs. In return for said funding, CMG has agreed to share any recovery costs on a 67 - 33 split basis. Mr. Laken noted, “This financing arrangement is a critical component for the Company, to assure that shareholder’s claims against Hudson Gray are vigorously litigated and collected without any danger of coming up short monetarily.” 
41.9/23/15 Glenn announces: CMG Holdings Group, Inc. ("CMG") is pleased to report the debt securities owned by KBM Worldwide (Asher) and its affiliates have been bought by pension funds, and are now in the hands of investors whose interests are aligned with the Company. Additionally, CMG has secured a 30-day option on its remaining toxic debt stating, "we expect to place the remaining debt in similar hands, and by so doing, pave the way for the company to move back into growth mode, which we expect to include strategic mergers and acquisitions, spin-outs, and other shareholder friendly activities." Management expects to make informational disclosures concerning these activities in the near future. 
42.Glenn Laken, CEO, carries on with essentially no revenues. Funding the company on his own, he strives on. 
43.9/25/15...CMG Holdings Group, Inc. (OTCQB: CMGO) announced today it has signed a letter of intent to acquire E&E Enterprises Global, Inc. 
44.Hundreds of Long Shareholders give Glenn standing ovation during sharholder gathering....not really, but should happen, he deserves it. 
45.10/8/15 CMG Holdings Group, Inc. (OTCQB: CMGO) today announced it has signed a letter of intent to acquire Blue Horizon Concepts, Inc. ("BHC") 
46.10/15/15 CMG Holdings Group, Inc. (OTCQB: CMGO) today announced it has signed a letter of intent to acquire Transmit Program Management LLC ("TPM") 
47.11/15 the Company has signed an agreement to spinout its majority owned subsidiary, Good Gaming, Inc., into a publicly tradedentity currently operating as "HDS International Corp. (HDSI/OTC)" 
48.2/18/16 HDS International Corp. and CMG Holdings Group, Inc. (OTC PINK: HDSI & OTCQB: CMGO): Glenn Laken, Chairman and CEO of HDS International Corp.'s ("HDSI") parent, CMG Holdings Group, Inc. ("CMGO"), announced today that the spin-out of Good Gaming is now complete. 

No matter what anyone says on these boards, it is clear and obvious, that we have a strong CEO of high character and will. Not many men would have taken on this herculean task, and with that being said, here we are with CMGO alive and with great prospects. All of this crap was dumped on him within his first month as CEO, yet he has carried on. 

Tremendous potential thanks to Glenn Laken, CEO and Co. 

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.


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.













I would like to address an affidavit against Glenn Laken that I've seen posted on this board on a couple of occasions. The document filed was never meant for the purpose that was proported, it was only drafted by the individual who was trying to hurt CMG, it's shareholders and the CEO. Barry Mlot authored the affidavit for the sole purpose of getting it into the hands of the attornies representing the Hudson Gray defendants in the RICO case Glenn Laken, CMG and XA Agency have ongoing in the courts. Well since that court filing Sol Mlot (with full knowledge) filed an affidavit on Oct.7, 2016 establishing for the record to correct misinformation put before the public and expose his son's actions for including additional falsified addendums that again were never seen by Sol Mlot nor granted permission to incorporate in the subject affidavit. I know this for a fact because I had the opportunity to read Sol Mlot's recently filed affidavit almost a month ago. I debated hard and long as to whether to go public with this information being that I knew it might cause embarrassment to a 92 year old man. But I decided after having consulted with a friend who's an attorney that I couldn't stand by and watch the reputation of a person that I've known for years as being a hardworking, respectable man get continually sullied any longer. The irony here is that he's in possession of this affidavit and could have publicly presented it but abstained from doing so. I on the other hand felt the record needed to be set straight, so I've taken it upon myself to post it here. I suggest those indiviuals concerned take a moment to read it and determine for yourselves who is the victim and who is the unscrupulous individual in this whole affair. 

-------- ------------------------ ------------------------- ----------X 
CMG HOLDINGS GROUP, INC. as assignee of 




Civil Action No.: 15-cv-05814-JPO 



--------- ----------------------------------- ------ - - -------- ---X 

Third-Party Plaintiffs, 



Third-Party Defendants. 

------------- - --- - - -------------- - ----------------------- ----X 

SOL MLOT, declares under penalty of perjury under the laws of the United States as follows: 

1. I am a non-party to this litigation. I am providing this declaration to correct factual misrepresentations submitted, supposedly in my name and by affidavit, by Defendants. I have never seen certain documents Defendants have attached to the subject affidavit and was never told by anyone that this affidavit would be submitted, here. I strenuously object to statements those who have submitted these documents pretend I support and they never even asked me whether I supported them. 

2. Briefly, Mr. Glenn Laken is a CMG principal and I have lived with Ms. Anita Laken, Mr. 

Glenn Laken's mother, for about I 6 years. My adult son, Barry Mlot, has, since the beginning our relationship, viewed Anita as a threat to his inheritance and he has consistently sought to undermine our relationship. Barry was, in fact, the only person with access to the subject affidavit and I believe it was he who provided it Defendants, for his own perceived benefit. 
3. Briefly, 1 have traded stock for more than 60 years and I trade today. 

4. In April, 2012, I asked Glenn if he would share his opinions on certain stocks with me and make suggestions as to stocks he thought had growth potential. He mentioned CMG and I began to accumulate a position in it, along with other recommended stocks. 
5. Glenn was never my stockbroker. He received no compensation from me for his advice. 

6. 1 subsequently asked him to trade certain of my accounts and he agreed to do so, again for no compensation. Some stocks Glenn recommended began to lose money and I asked him if he would be willing to share in the losses of certain of them, including CMG and TNIB. 
7. He agreed to do so and, on June 29, 2013, we memorialized our understanding regarding loss-sharing in a hand-written agreement. 
8. A dispute later developed between us as to which stocks were the subject of this agreement, Glenn recalling the agreement addressed losses in just CMG and TNIB, and me, recalling the agreement was to cover all stocks Glenn recommended or traded, on my behalf. 
9. In July, 2013, Barry inserted himself into this dispute and he began making accusations that Glenn was manipulating CMG's stock price in response to, among other things, domestic disputes I was then having with Anita. I was unaware of any basis for his accusations and am unaware of any today. 

16. Since I executed the affidavit. I have barely communicated with Barry. It is clear to me that he secretly submitted this document. as if he were me. never seeking my permission to do so and Istate categorically that Iwould not have given such permission if asked. 
17. I never saw the two-page "addendum·• (annexed as Exhibit 2 to my affidavi t) which my affidavit pretends to ratify. Inever wrote it, Inever reviewed it. Inever approved it and Ireject its many innuendos and falsehoods. 
18. I have never spoken to Defendants·lawyers about this affidavit. nor the attached two- page addendum. nor anything else. Ihave no idea why they would submit this in a litigation which, as Iunderstand it. has nothing to do with me. without contacting me to determine the facts and whether Isupported doing so. 
19. The affidavit and its Exhibit 2 presents a totally false impression of the facts. 

20. I regret that my son's connivance has caused hi m to engage in such behavior in his efforts to undermine Mr. Laken and CMG. to try to get what he wants. 
DATED: October 7,2016 



Current Price
Bid Ask Day's Range
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
PlusOneCoin Top Posts
No plusone'd posts yet. Be the first!
#66954  Sticky Note Hollywood Party Planners Fighting $200 Million Conspiracy Lawsuit Pic 02/20/18 01:08:12 PM
#66830  Sticky Note historical summary quick read. FergusVI 01/22/18 12:31:37 PM
#66969   indeed many millions of GMER shares belong to CMGO Boum-Yeah 03/21/18 09:58:07 AM
#66968   Good Gaming news out! Does CMGO own a Pic 03/21/18 09:09:07 AM
#66967   Where u been man? I thought u FergusVI 03/19/18 04:41:40 PM
#66966   geezzzz, I'm getting old, come on somebody, get BILLBOB1 03/19/18 03:55:00 PM
#66965   If Wagner and his band of thieves read poincianamike 03/11/18 09:11:34 AM
#66964   Lol. It did get kinda quiet. You might jcny 03/09/18 07:03:36 AM
#66961   A very very good read. $CMGO MRDALE 02/21/18 04:42:40 PM
#66960   People in the know post factual information. Thank makingwaves 02/21/18 07:40:45 AM
#66959   Think of it like this. It has Lenard 02/21/18 01:43:31 AM
#66958   DITTO! klek1 02/20/18 05:20:26 PM
#66957   Thanks for the reply MW. Always appreciate your shedhnt 02/20/18 05:00:25 PM
#66956   There's a court case in progress over it hyrpowr 02/20/18 02:51:08 PM
#66955   Great story but: September 12, 2016 Matrix999 02/20/18 02:45:55 PM
#66954   Hollywood Party Planners Fighting $200 Million Conspiracy Lawsuit Pic 02/20/18 01:08:12 PM
#66953   My facts are from the quarterly reports LouisDesyjr 02/20/18 12:32:40 PM
#66952   Reality check, they were not Hudson Gray then, makingwaves 02/20/18 12:22:43 PM
#66951   Hudson Gray have done quite well? LouisDesyjr 02/20/18 11:41:28 AM
#66950   Joseph Wagner's company, Hudson Gray have done quite makingwaves 02/19/18 12:41:28 PM
#66949   So, what kind of assets do the defendants shedhnt 02/19/18 08:59:56 AM
#66948   If anyone had done their DD thoroughly and PlayMoneyBS 02/16/18 07:13:46 PM
#66946   Where to start to try and right all FergusVI 02/16/18 05:14:09 PM
#66945   Will see what the judge says to Lenard 02/16/18 03:28:29 PM
#66943   It is all a fairy tale told to LouisDesyjr 02/16/18 12:45:02 PM
#66942   We are well beyond that my friend... FergusVI 02/16/18 12:38:53 PM
#66941   You'll have to ask an expert. svek 02/16/18 12:36:09 PM
#66940   Why isn't it in the complaint plus RICO problems? LouisDesyjr 02/16/18 12:22:32 PM
#66939   Yeap svek 02/16/18 12:14:05 PM
#66938   I didn't say loss of profits, I said svek 02/16/18 12:12:03 PM
#66937   Loss of revenue? And that number is. . LouisDesyjr 02/16/18 12:03:43 PM
#66936   Also, they could get Triple-Damages!! cbrad10480 02/16/18 11:54:09 AM
#66935   How about loss of revenue for a few years. svek 02/16/18 11:43:42 AM
#66934   B. CMG Financial and Oversight Documents FergusVI 02/16/18 11:15:49 AM
#66933   I like how you conveniently omitted papers regarding FergusVI 02/16/18 11:15:04 AM
#66932   I don’t know what it’s worth. I appreciate jcny 02/16/18 10:27:49 AM
#66931   What is it worth? Where are the details? LouisDesyjr 02/16/18 10:24:26 AM
#66930   Let me ask you this. I’d like your jcny 02/16/18 10:01:08 AM
#66929   Judge decides? Based on what? LouisDesyjr 02/16/18 09:48:40 AM
#66928   Looks like Joey Wagner and his pack of hyrpowr 02/16/18 09:39:12 AM
#66927   Lets the judge décide of that Unless you’re have Boum-Yeah 02/16/18 09:35:40 AM
#66926   Value of the lawsuit and value of CMGO LouisDesyjr 02/16/18 08:51:19 AM
#66925   Laken's a very unsavory character. Look up his Homebrew 02/16/18 08:18:27 AM
#66924   If I read that right it states Glenn PlayMoneyBS 02/16/18 07:46:54 AM
#66923   Also, if xa is no longer active it’s jcny 02/16/18 07:28:53 AM
#66922   That is a terrible argument imo. Of course jcny 02/16/18 07:26:41 AM
#66921   I respect your point of view but let Boum-Yeah 02/16/18 06:18:39 AM
#66920   Is the lawsuit the only asset left? LouisDesyjr 02/15/18 09:55:00 PM
#66919   You just recently said it wasn’t him yesterday jcny 02/15/18 03:04:02 PM
#66918   If Glenn has been outed, why does he Pic 02/15/18 02:23:23 PM
#66917   "Plaintiff has produced all posts made by Glenn makingwaves 02/15/18 01:46:25 PM
#66916   selectively omitting documents. FergusVI 02/15/18 10:00:25 AM