CMG Holdings Group Inc (CMGO)

[ORCA]

THE POSITIVES FROM THE REPORT.THERE IS A LOT OF HOPE FOR A TURN AROUND
HERE IS WHY.THIS IS GOLD FOR THE COMPANY.:::READ BOLD 1,2,3,
1)The Company has a net operating loss carried forward of $14,481,322 available to offset taxable income in future years which commence expiring in 2030.SO THAT IS ANOTHER 7 YEARS.
2)On June 24, 2020 The Company entered into an agreement with New Vacuum Technologies LLC(NVT) whereby the Company loaned NVT $50,000. During the year ended December 31, 2021 the Company loaned an additional $999,201 to NVT. NVT repaid $60,000 to the Company. The loan was originally due on December 24, 2020 at an interest rate of 10% per annum. The loan was extended on December 24, 2022 until December 24, 2023. The loan was verbally extended until December 24, 2023. The total amount owed including interest is $1,459,209 and $1,391,334 as of June 30, 2023 and December 31, 2022 respectively.
3)STILL GOT SOME CASH $$$.As of June 30, 2023, the Company’s cash on hand was $188,684.