CMG Holdings Group Inc (CMGO)

[FergusVI]

Just think..AE will have only 1.5 Million shares registered.

Remember the valuation of the patents from the Kenrich Group..and this was when the plan was less developed than it is currently:

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The following analyses of value represent various value estimates indicative of the value of Modavox:


Preliminary FMV Low High

X Litigation/Licensing Value (Online) $ 146.27 $ 146.27
Industry Litigation Value for the Online Behavioral Targeting (Not Including X) $ 693.49 $ 1,456.69
Value to X Internally (Increased Profit) of Patent Portfolio to X (Online only) $ 569.99 $ 569.99
Value of Patent Portfolio to X Internally and the Industry Litigation Value (Online) Industry $ 1,263.48 $ 2,026.68
Litigation Value: Mobile Behavioral Targeting $ 141.96 $ 524.25
Value to X Internally (Increased Profit) of Patent Portfolio to X (Mobile only) $ 112.60 $ 188.35

Based upon the analysis presented in this report, information we have reviewed, and the fact and circumstances surrounding Modavox's patent portfolio, the of Modavox is between approximately $525 and $575 million.

This report is subject to the attached Statement of General Assumptions and Limiting Conditions. We appreciate the opportunity to be of service to Modavox. Please contact us if you have any questions concerning our analysis.

Very truly yours,



/s/ Krista F. Holt
The Kenrich Group
Krista F. Holt, Vice President