Replies to post #63884 on CMG Holdings Group Inc (CMGO)

[Diver66]

Amen!!!

[PlayMoneyBS]

Well stated!

[shedhnt]

Thanks Ferg!

[-Awaken-]

That was 2013, old info. After that, KBM Worldwide and other financiers converted this down into the triple zeroes. Why didnt CEO protect shareholders from that? Was he taking a salary?

[Penny-Gambler]

So, what's the last thing he's done. zip!

If he had something good to do, he would at least give some tip off. A clue. Anything. All these deals are just blowing smoke up your butt. That way if ALL these deals fall through, he can sell all his shares for something and not a complete loss.

It's a real shame everybody that's holding on will be the last to know the deals fell through. No word on the law suite is a really, really bad sign.

Sorry but everybody has been fooled by this person.

[PlayMoneyBS]

Curious minds want to know...what happened to all those shares mentioned below?

Date: August 2, 2013
Briefly, our negotiations with certain parties have resulted in a reduction in the company’s outstanding float by roughly 11.5%. That means there will be a return to the company’s treasury of 33.9 million outstanding shares. An outstanding note for $85,000.00 (plus two years interest at 20%) has just been cancelled and there will be a reversal on the company’s books, for the benefit of our shareholders.

The company has also resolved certain issues concerning Mr. Morrell’s compensation package, on retiring from the Company. Agreement has been reached that certain of his options will be cancelled and his outstanding note for $122,000 was resolved for 2.2 million newly issued shares, reducing the chance that more than 18 million shares would have to be issued.

Date: November 14, 2013
The Registrant announces today the completion of the settlement agreement with prior management, stated in the Form 8-K filed on August 5, 2013. The terms of the settlement changed slightly, however 31 million common shares were actually forfeited. The company determined that rather than litigate any further we would accept the 31 million shares and close the books on the past. These shares will be returned to the transfer agent and will be cancelled from the total outstanding shares.

[PlayMoneyBS]

Investors (including some who have been around since 2013 or earlier) would love to know what happened to all the retired shares and those in the treasury!?!?

FACTS per SEC FILINGS:

Date: April 30, 2013
...With this pay down, approximately 16.5 million common shares will be retired...

Date: August 2, 2013
Briefly, our negotiations with certain parties have resulted in a reduction in the company’s outstanding float by roughly 11.5%. That means there will be a return to the company’s treasury of 33.9 million outstanding shares...

Date: November 14, 2013
...The terms of the settlement changed slightly, however 31 million common shares were actually forfeited. The company determined that rather than litigate any further we would accept the 31 million shares and close the books on the past. These shares will be returned to the transfer agent and will be cancelled from the total outstanding shares.