CMG Holdings Group (OTC: CMGO) today announced financial results for the second quarter of 2019 and provided a shareholder update from the company’s CEO, Glenn Laken. Among other highlights, the company reported total revenues of $1.06 million, an increase of 358% over $232K from the same period of 2018. The company attributes the increased revenues to effective execution and financial management. In addition, the company noted that its primary operating subsidiary XA closed a six-figure contract with a prominent clothing retailer. “Overall, we have returned XA to strong growth and sustained profitability, which management projected heading into this year. With this operational momentum and our expected cash proceeds from non-operating activities, the company is in the best state of operational health and liquidity position it has enjoyed in years. I believe we have laid the foundation for a great future for the company and expect to create substantial value for shareholders in the future. For these reasons, our Board of Directors approved a 100 million share repurchase program, which we initiated in June and which continues to be executed today,” CMG Holdings Group CEO Glenn Laken stated in the news release.
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About CMG Holdings Group, Inc.
CMG Holdings Group, Inc. is a Chicago holding company whose primary operating subsidiary is XA – The Experiential Agency, Inc. (www.ExperientialAgency.com), which engages in the alternative advertising, digital media, experiential and interactive marketing, and entertainment sectors. XA is involved in production and promotion, event design, sponsorship evaluation, negotiation and activation, talent buying, show production, stage and set design, and data analysis and management activities. The business also offers branding and design services, such as graphic, industrial and package designs across traditional and new media, public relations, social media, media development and relations, and interactive marketing platforms to provide its clients with customary private digital media networks to design and develop individual broadcasting digital media channels to sell, promote, and enhance their digital media video content through mobile, online, and social mediums. XA serves clients across the marketing communication industry. Separately, CMG Holdings Group owns Lincoln Acquisition Corp., a subsidiary formed to manage its portfolio investments. For more information, visit the company’s website at www.CMGHoldingsInc.com.
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