Options Media Group Holdings, Inc. (OPMG)

[STOCKBULLY]

this is not the result of MM's and it aint' gonna end anytime soon

Options Media Group Holdings, Inc. (the “Company”) has sold substantially all of the shares of its Series B Convertible Preferred Stock (the “Series B”) as of December 31, 2009 and raised approximately $2,400,000. The Series B shall automatically convert into shares of the Company’s common stock at $0.035 per share when the Company files an amendment to its Articles of Incorporation increasing its authorized shares of common stock to 300,000,000 shares. The Series B provides for a liquidation preference and provides for voting rights equal to the number of shares of common stock that the holder would be entitled to if the Series B were converted.

On December 28, 2009, in order to eliminate debt, the Company amended a $300,000 secured promissory note to provide for conversion rights at $0.035 per share. This Note was converted into 8,571,429 shares of the Company’s common stock on December 31, 2009. Additionally, one of the investors in the Series B offering was a fund which held a $40,000 Note due December 31, 2009. On that date it cancelled its Note in exchange for shares of Series B.

As of December 31, 2009, the Company’s total debt consisted of a $20,000 Note due that day, a $50,000 Note held by its President due January 3, 2011, and $237,000 of Convertible Secured Notes described below. On December 30, 2009, the Company agreed to pre-pay $237,000 of Convertible Secured Notes dated December 15, 2009. These Notes were issued on December 11, 2009 as previously described in a Form 8-K filed on December 16, 2009.