Replies to post #60645 on CMG Holdings Group Inc (CMGO)

[xZx]

the share reduction is not a buyback, it's simply the creation of preferreds. a lawyer on retainer could do it.

[Boum-Yeah]

Not exactly true.

The PR state that a program will be in place as early as this summer for a share reduction.

Holder of common shares would be given preferred (type A) share in a ration of 1 preferred to 50 commons. All common shares exchanged would then be return to treasury. So the share reduction will happen as soon as the conversion program is in place.

The new preferred share would give to its holder the privilege to receive court money IF it is won in court.
The proportion or the amount per share is still to be define but surely will be only a fraction of the 67% received by CMGO (33% going to the "financers" of the case as per the other PR).