CHICAGO, Oct. 10, 2019 /PRNewswire/ -- CMG Holdings Group's XA unit continues to burnish its reputation as the go-to agency for jobs done on short notice, done right. XA put together a dinner presentation for the CEO of Timberland. The Timberland event was proposed to Alexis Laken, President of XA, by a large advertising agency while she was overseeing XA's multi-city J Crew University Tour. With only two week's lead time, Alexis took the job on and delivered a flawless event. Timberland's CEO was so impressed with the result, he assured her Timberland would soon be working with XA again on something considerably bigger. This has become the guiding principle at XA; taking on difficult, hard to deliver work, in order to secure bigger jobs down the road. XA has spent the last few quarters seeding for future growth and has been successful capturing a number of new clients, including Timberland, J Crew, Madewell, EA Sports and others.
In further corporate news, CMG will enter into mediation on a malpractice lawsuit against former attorneys from Eaton and Van Winkle. CEO Glenn Laken said, "It always makes sense to sit down and discuss settlement to see if you can narrow the gap." Additionally, XA has had a few discussions with a potential acquisition in the experiential space and is waiting on additional financials.
In our last update, purchasing dormant shares at the transfer agency was discussed. We are working on that project and should have an update towards the end of the month. We will be back with further updates as events dictate.
About CMG Holdings Group, Inc.
CMG Holdings Group, Inc. is a Chicago holding company whose primary operating subsidiary is XA – The Experiential Agency, Inc. (http://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.
Statements in this press release about our future expectations, including without limitation, the likelihood that CMG Holdings Group, Inc. will meet minimum sales expectations, be successful and profitable, bring significant value to its stockholders, and leverage capital markets to execute its growth strategy, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law. CMG's business strategy described in this press release is subject to innumerable risks, most significantly, whether the Company is successful in securing adequate financing and materially decreases its convertible debt. No information in this press release should be construed in any form shape or manner as an indication of the Company's future revenues, financial condition or stock price.
CMG Holdings Group, Inc.
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