CMG Holdings Group Inc (CMGO)

[User-65225]

Sometimes its the best way to spend your excess cash, esp when your stock is super deflated. Invest in yourself

If you can buy your stock at .00X and sell some back into the market several pennies higher in the future to fund a new initiative or make an acquisition, that is a good move. Its better than that cash sitting in a bank and not collecting much of a return.

It all depends on your valuation and NEED for the cash... They have more lawsuit cash coming in than the market cap, so they can use a partial amount for buybacks and make themselves more attractive for future acquisitions, etc

They are also trying to buyback a bunch of shares at VERY low prices. FYI, this 5-8% does not include the open market purchases.

We recently passed a resolution which has enabled us to buy 100MM shares of our stock to be retired. I discovered a rich vein of shares that I believe can be purchased way below the market. We have 38.5 m shares on our books that are restricted. They have been on deposit with the transfer agent and have remained untouched for 7 plus years. They are as small as 10k shares and as big as 500k to 1 million shares. One thing is for certain, they are never going to be deposited to trade. I have begun to call some of the listed owners. I have discussed buying them back by the company at severe discounts and there is good interest. I believe over the next couple of quarters, we will be able to repurchase the majority and reduce the OS by between 5-8 percent. I am very excited by this prospect and so should CMG shareholders be. As the process moves along, I will keep you informed.

https://www.otcmarkets.com/stock/CMGO/news/CMG-Provides-Corporate-Update?id=240325