Replies to post #100875 on CMG Holdings Group Inc (CMGO)

[poincianamike]

Post 100841 says it all. Shorts are going to have big problems covering.

[StockScout1]

CMG Holdings Reports Strong First Quarter Results and Provides Shareholder Update

"I'd like to take this opportunity to discuss the results from the three-month period ended March 31, 2019.
As you can see, CMG Holdings Group ended the quarter on a high note.
The Company exited the period with a net profit of approximately $561K.
Our primary operating business, XA, had an operating profit of $86K and that was further aided by a benefit of $360K due to our writing off substantial payables, which was brought about by an ABC (assignment for the benefit of creditors) that I was able to engineer in 2015. With the ABC, CMG was able to eliminate all XA's debt. After waiting four years, we are finally debt free at the XA level leaving the business in a great position going forward. XA's fundamentals are improving and the unit has a very clean capital structure, which is the best of both worlds. Overall, CMG finished the quarter with a cash position of $317,000.

https://www.globenewswire.com/news-release/2019/05/20/1827744/0/en/CMG-Holdings-Reports-Strong-First-Quarter-Results-and-Provides-Shareholder-Update.html

Question:
1. Where do you see a new company in this PR?
2. Do you know what an ABC is?