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Thursday, October 12, 2017 8:54:23 AM
1- The extinguishing of the Preferred B Shares was crucial because with the 1-to 2,500,000 Million conversion it would have the potential to dilute BILLIONS OF SHARES...The market makers relied on this in the past because the company has diluted some of these preferred shares in over the last 12 months....WELL GUESS WHAT MM's THEY ARE OFF THE TABLE NOW- SO YOUR SHORT COVERING FUEL is GONE.
2- Tom is now in full control of our destiny and company and his 92M common shares. The preferred shareholder is now eliminated from the picture here which was crucial for Toms plan. The could have literally killed his efforts and common shareholders by converting literally millions of preferred B shares to bililions of common shares. That is what Tom just took care of protect his money and shareholders. Tom owns NO other shares other than common shares here. Common shareholders need to realize how important and strategically imperative of a move this was. Also, all notes and shares are restricted shares meaning the cannot be sold for at least 1 year and subject to rule 144.
3-Tom has made this move to protect the huge prospect of growth for CannaNet.Tv and other TBA businesses under INMG and the worldwide launch for common shareholders... And remember he owns a 92M shares or about 40% of them. Tom has cleared the PATH now for real investors and to come in without the FEAR of being diluted to the hills and has SET the PATH ADDITIONALLY for UPLISTING TO HIGHER MARKETS TRADING.
4- The note is is RESTRICTED SHARE DEAL(*See Below)...see below. These shares at .0261 stike price CANNOT be converted if the holder choosed to do SO FOR A MINIIMIUM of 1 YEAR and subject Rule 144. ..
INNOVATIV MEDIA (INMG) REDEEMS SERIES B PREFERRED SHARES
LOS ANGELES, CA October 11, 2017 (InvestorsHub NewsWire), Innovativ Media Group, Inc. (OTCPK:INMG) ("Company"), a multi-media content producer and distributor, today announced that it has redeemed all of the Series B Preferred Stock held by an original Company investor in exchange for a Promissory Note for $110,000. The Company also reported that it had secured an investment from a private equity source for $52,000 in the form of a 6% Note, which is convertible into restricted shares of the Company's common stock at a fixed conversion price of $.0261 per share. The Company has no other debt on its balance sheet and has no obligation to register any of the shares.
Tom Coleman, CEO of Innovativ Media said: "The Company decided it was an appropriate time to exercise the option it had under a lock-up agreement to redeem the shares and remove any uncertainty regarding long term dilution. We are committed to scaling CannaNet.TV http://www.cannanet.tv/ rapidly and the funds provided by the Note will help us accelerate growth and capitalize on some developing opportunities".
The CannaNet.TV platform http://www.cannanet.tv/ is a new online, ad supported channel which will stream curated and original entertainment, informational and educational content related to the Cannabis culture and industry that will launch in the 4th Quarter.
About Innovativ Media Group, Inc.
Innovativ Media Group (Innovativ) is a developer, producer and distributor of digital entertainment and other multi-media content which is developing the CannaNet Channels. It distributes the motion picture assets of Lux Digital Pictures and, via New Broadway Cinema, develops adaptations of stage shows utilizing its trademarked DigiTheater Virtual Reality process. Innovativ also operates The Alien Interview Channel on YouTube in partnership with Fullscreen, the online channel HPLovecraft.TV and
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