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CMG Holdings up 55% For the Day (OTCBB:CMGO)

CMG Holdings is a Miami based marketing group responsible for a wide variety of services including sports entertainment, management service, talent representation, event management and commercial rights sectors.
 
In the company’s most recent press, CMG has announced the complete acquisition of Audio Eye, Inc, a company focused on creating more comprehensive Internet access to all regardless of any disadvantages. On May 24th it was announced that CMGO was awarded a patent entitled “Method and Apparatus for Website Navigation by the Visually Impaired” 

After navigating CMGO’s website it was evident the company’s strategy looking into the future, they write, “CMGO is seeking to expand its national presence via its acquired companies, capitalizing on their growth via the economic recovery, intellectual property of continued patents, sales and marketing, new product development and continued operations.” 

 

 
 
Today CMG holdings is trading at .05 up .02 or 55% on a volume of 68k upon reviewing the financials of the company, published by EDGAR online, it would appear that CMGO has rounded the corner this March. Net income for December 31 2009 was a loss of $2 million, while for March 31st 2010 net income was reported at $68,000 the highest in the three quarters previous.  
 


Disclosure: no positions