CMG Holdings Group Inc (CMGO)

[User-65225]

(edited) "Timberland's CEO was so impressed with the result, he assured her Timberland would soon be working with XA again on something considerably bigger"

What does "again" mean? It means they COMPLETED their first deal, but the clients name was not announced until now.... but per this PR a "considerably bigger" deal is likely coming from this NEW client. In other words, they passed the test.

If what he stated was false Timberland and these other multi billion dollar companies would slap him with a Cease and Desist instantly. IMO he could have written the PR a little better, but there is nothing wrong with it.

The next deal could be 7 figures, with just one client...

Additionally, CMG would like to give an update on its business outlook. During the quarter, XA, the Company’s operating subsidiary, closed a six-figure contract with a world-renowned clothing retailer which has the potential to become a seven-figure relationship after its initial scope of work is completed. Further, XA continues to work with several new clients on installations each to be in excess of $1 million and expects to close at least a couple of these opportunities this year which will become 2019 and 2020 business. XA continues to see clients returning with $50K - $100K jobs on a continual basis, which builds its book of business and provides visibility to future results.

Said Laken: “Overall, we have returned XA to strong growth and sustained profitability, which management projected heading into this year. With this operational momentum and our expected cash proceeds from non-operating activities, the Company is in the best state of operational health and liquidity position it has enjoyed in years. I believe we have laid the foundation for a great future for the Company and expect to create substantial value for shareholders in the future. For these reasons, our Board of Directors approved a 100 million share repurchase program, which we initiated in June and which continues to be executed today.”

https://www.otcmarkets.com/stock/CMGO/news/CMG-Holdings-Reports-Strong-Second-Quarter-Results-and-Provides-Update?id=237087