Replies to post #89098 on CMG Holdings Group Inc (CMGO)

[PlayMoneyBS]

"(T)hey are all broke." ROFL

Better DD is needed.

Glenn and his mother, allegedly, loaned "seed money" to begin this case. That phrase is important, too. This says Glenn agreed to a 67-33 split for the initial financing. It does not say to whom. It may be for the loan he and his mother made. It might be to the Irish Retirement Funds that also get a share, iirc.
https://www.sec.gov/Archives/edgar/data/1346655/000121390015005319/f8k0715_cmgholdings.htm

So, let's say they loaned $130K as was supposedly in an email Glenn sent. Glenn and his mother now get a third of the settlement, in addition to his salary, whatever Alexis is (was?) paid, and consulting fees to Barbara...

More money going out can be found on Page 14 of this: https://www.sec.gov/Archives/edgar/data/1346655/000121390015007861/f10q0615_cmgholdings.htm

In June 2015, the Company borrowed $100,000 to provide payment to Eaton and Van Winkle (the attorneys for the Hudson Grey lawsuit) as the seed money for the Suit. As stated previously the balance of the fees for the suit have been arranged. This loan with expenses is due to be repaid November 1, 2015.


The Company borrowed $150,000 from two Irish pension funds to purchase the remaining debt of KBM Worldwide, Inc. and KBM Investments, LLC. The terms for the loan are in the final stages of negotiation and will require a payment upon and if the Company is victorious in the pending litigation against Hudson Grey et al.

We expect these two notes to be extinguished previous to the end of the forth quarter of 2015.

This is in addition to Glenn's professional trading and the careers of his wife and daughter. They are, most certainly, not "broke."