Replies to post #139111 on CMG Holdings Group Inc (CMGO)

[poincianamike]

Hopefully the oil deal works out.

[MrYing]

I believe the hope for oil production revenue is nothing but a fanciful one. I've been following the technology since 2011 when it was controlled by a company in Austria. In 2018 the SEC filed a complaint against the American partner, the Austrian company sold the patents to some Jersey technology company and went bankrupt. Since then the investors I know in the American counterpart have been left in the dark. According to the SEC complaint online, the investors were provided with materially false and misleading information concerning the timing of production, the investment returns, and the use of offering proceeds. I only hope it will not be the same in their new venture with CMG.