Please note: CSMG Technologies, Inc. (CTGI) is an insolvent corporation declared 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, Delaware voided Live Tissue Connect, Inc. (LTC), the sole CSMG subsidiary. LTC owes ca. $500,000 in accruing and back taxes.
CSMG has not issued any news or public statements since August 2010.
In its last financial statement, issued 14 November 2008, CSMG reported total losses of $20,000,000--not counting further millions of dollars 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 CSMG nor its subsidiary LTC has recorded any identifiable sales.
Based on these circumstances, it is clear that insolvent and indebted CSMG Technologies, Inc. and subsidiary LTC are out of business, if not entirely defunct.
K. Bruce Jones
Vice President and Chief Financial Officer (inactive)
Stock Transfer Agent
Securities Transfer Corporation
2591 Dallas Parkway Suite 102
Frisco, Texas 75043
Tel: (469) 633-0100
Moderators' Disclaimer - This board is for CSMG Technologies, Inc. discussion purposes only, and the opinions expressed here do not in any way constitute a recommendation to buy or sell this stock (CTGI). Any investment decisions should be based on your own due diligence and your own best judgment as to risk and suitability. You are solely responsible for your choices to buy or sell this stock (CTGI) or any other investment mentioned or discussed on this board. The moderators disclaim any and all legal and/or personal liability for your investment decisions.
Updated February 2012