Camelot Entertainment Group, Inc. (fka CMGR)

[meanstreet_dude]

JANUARY 28, 2011 CMGR NEWS!!!! As of January 8, 2011, the total issued and outstanding shares were 12,217,615,194, including shares held in reserve in accordance with certain contractual obligations of the Company. The total shares held in street name, also known as the float, were 9,173,110,654 shares.

The Company's current plan is to retire a major portion of its debt, thereby eventually reducing the amount of shares that will need to be issued in connection with Company debt. We believe that, as the Company continues to grow and revenues increase, the need to issue shares for services and other non-debt consideration should also decrease, thereby also reducing the numbers of shares to be issued for services and other consideration.

The Company received stockholder approval at its annual stockholder meeting on December 13, 2010 to register the offer and sale of $10,000,000 in common and preferred stock, with the registered securities and/or proceeds being used to retire debt, further expand operations and to implement a stock repurchase program to reduce the number of shares in the market, subject to regulatory approval.