CMG Holdings Group Inc (CMGO)

[TARKA2]

The net loss of 1,461,320 for the six months ended June 30, 2012 decrease to a net income of $2,186,283 for the six months ended June 30, 2013. The decrease in operating expenses is mainly due to fewer expenses incurred associated to spinoff transaction related to AudioEye, Inc. and lower operating expenses related to the talent agency business that was sold to Creative Management Global. In addition, the Company realized a gain on settlement of debt of $610,400 for the six months ended June 30, 2013.