Unbelievable,,, note holders killing tmgi.
Jacquie and marc wont stop diluting till 0.0002
We will see trips coming days.
Read the latest filling
PRESS RELEASE
10-Q: MARQUIE GROUP, INC.
By
Published: Apr 19, 2019 5:29 p.m. ET
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(EDGAR Online via COMTEX) -- Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operation
The following discussion contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 relating to future events or our future performance. Actual results may materially differ from those projected in the forward-looking statements as a result of certain risks and uncertainties set forth in this prospectus. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual results will not be different from expectations expressed in this report.
BUSINESS OVERVIEW
The Marquie Group, Inc. (TMGI), formerly known as Music of Your Life, Inc., owns and operates two businesses: Music of Your Life, the nation's longest-running, nationally syndicated music radio network broadcasting nationwide on AM, FM, and HD stations and internationally to a global audience on the Internet; and, The Marquie Group, a direct-to-consumer health and beauty products platform with a pipeline of innovative solutions to pervasive wellness concerns: anxiety, anti-aging, low-energy, sleeplessness, and stress that use advanced formulations of amino-acid and natural plant-based alternatives to chemical ingredients. The Whim(TM) products are currently in development with an estimated 4thquarter 2019 launch.
The Company plans to launch it new product line, called "Whim(TM)" initially on the Music of Your Life global radio network, and on the Company's whimandadare.com website. The Whim(TM) products are currently in development with an estimated 4thquarter 2019 launch.
Our principal sources of revenues result from selling monthly subscriptions on the Company's website. Expenses which comprise of costs associated with product development, licensing agreements, and royalties, as well as operational and staffing expenses related to the management of the Company's syndicated network, and product development operations. General and administrative expenses have been comprised of administrative wages and benefits; occupancy and office expenses; outside legal, accounting and other professional fees; travel and other miscellaneous office and administrative expenses. Selling and marketing expenses include selling/marketing wages and benefits, advertising and promotional expenses, as well as travel and other miscellaneous related expenses.
RESULTS OF OPERATION
Following is management's discussion of the relevant items affecting results of operations for the three and nine months ended February 28, 2019 and 2018.
Revenues. The Company generated net revenues of $1,496 and $931 during the three months ended February 28, 2019 and 2018, respectively. The Company generated net revenues of $4,469 and $4,168 during the nine months ended February 28, 2019 and 2018, respectively. Revenues were generated from spot sales, digital sales and subscription based sales from the live radio programming through radio stations around the country.
Cost of Sales. Our cost of sales were $-0- for the three and nine months ended February 28, 2019 and 2018. Our cost of sales in the future will consist principally of licensing costs and royalties associated with our syndicated radio network, other related services provided directly or outsourced through our affiliates, as well as operational and staffing costs with respect thereto.
Salaries and Consulting Fees. Salaries and consulting fees were $71,500 and $113,000 for the three months ended February 28, 2019 and 2018, respectively. Salaries and consulting fees were $239,000 (including stock-based compensation of $41,000) and $250,696 for the nine months ended February 28, 2019 and 2018, respectively. We expect that salaries and consulting expenses, that are cash instead of share-based, will increase as we add personnel to build our multi-media entertainment business.
Professional Fees.Professional fees were $20,578 and $14,752 for the three months ended February 28, 2019 and 2018, respectively. Professional fees were $60,773 and $54,121 for the nine months ended February 28, 2019 and 2018, respectively. We anticipate that professional fees will increase in future periods as we scale up our operations.
Other Selling, General and Administrative Expenses. Other selling, general and administrative expenses were $71,714 and $18,436 for the three months ended February 28, 2019 and 2018, respectively. Other selling, general and administrative expenses were $104,752 and $50,582 for the nine months ended February 28, 2019 and 2018, respectively. We anticipate that SG&A expenses will increase commensurate with an increase in our operations.
Table of Contents
Other Income (Expenses).The Company had net other expenses of $1,722,989 for the three months ended February 28, 2019 compared to net other expenses of $225,251 for the three months ended February 28, 2018. The Company had net other expenses of $3,334,359 for the nine months ended February 28, 2019 compared to net other income of $67,254 for the nine months ended February 28, 2018. During the nine months ended February 28, 2019 and 2018, the company recorded income (expense) on the change in the fair value of the derivative liability in the amount of ($1,635,356) and $341,606, respectively. Other expenses incurred were comprised of interest expenses related to notes payable in the amount of $344,376 and $274,352, which included the amortization of debt discounts of $200,925 and $148,556, during the nine months ended February 28, 2019 and 2018, respectively. During the nine months ended February 28, 2019, the Company recorded a loss on the conversion of notes payable and accrued interest in the amount of $1,354,627 based on difference between the fair market value of the stock at issuance and the amount of notes payable and accrued interest converted.
By the way, ceo salary is 350k$ a year for zero revenue company.
U , me and all the suckers are paying for salary.
As on last friday pps, 350,000$ salary will require 195 million shares via dilution.
When it sinks to 0.0009 ... will require 390 million shares via dilution
Bagholder here.
Jacquie and marc lied .
AI
