CHICAGO, IL, Oct. 05, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – CMG Holdings Group, Inc. (OTC: CMGO) CEO Glenn Laken issued the following statement today about the Company’s achievements:
“I recently spent three days in meetings with the CEO of the oil technology company in which CMGO has invested. I visited the site accompanied by our commercial lender.
“The lender viewed the project, which removes impurities from low-grade oil and turns it into a higher grade of oil, and was so impressed that they agreed to a six-month extension of our loan with no additional fees or interest.
“While visiting the terminal, a stream of equipment was being delivered. The state-of-the art facility is moving forward extremely well, with excellent progress noted.
“Our commercial lender and the parent company are in late-stage discussions concerning some direct funding from the lender to the parent company. I will continue to report to shareholders about the project.
“In other good news for CMGO, our wholly owned subsidiary, XA, The Experiential Agency, http://www.experientialagency.com, revenues for the third quarter will top $850,000, an excellent achievement, 67 percent improvement compared to the previous quarter and its best quarter yet!” Mr. Laken concluded.
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