In 2018, XA grossed roughly $1,300,000 netting approximately $170,000. This year, XA is projecting $2,250,000 in gross revenues with a net profit of approximately $250,000 - $275,000. We will continue to diligently build XA back into an experiential powerhouse. A new XA website will be up and running in the next few weeks. XA has also begun concentrating on building an increasingly significant social media footprint. None of this would have been possible without a herculean effort by my daughter Alexis and her creative partner Armon Lewis, who have worked tirelessly and against all the odds to turn XA into a thriving business again.
The last six weeks have been devoted to cleaning up CMG's balance sheet. I have settled several lingering debts to the company's advantage and am waiting on a few more responses from creditors. Once the old debts have been cleared, I intend to turn my focus back to where it had been back in 2014, before the theft of XA's assets diverted my attention away from my initial mandate - building CMG into a successful holding company with profitable investments. I intend to make XA the cornerstone of that effort.
Finally, I would like to extend my heartfelt thanks to all the CMG investors who never gave up on the belief that I would prevail in my efforts to save the company and shareholder investment, despite withering attacks from uninformed and unidentified voices. I appreciate your understanding and hope that future profits will make up for an unexpectedly rocky beginning.
