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SUNRISE, Fla., Aug. 21, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Beta Music Group Inc. (OTC PINK:BEMG), through its operating subsidiary, Get Credit Healthy, Inc. (www.getcredithealthy.com), announced today that it reached an agreement with shareholders to exchange 427.5 million shares of common stock for 427,500 shares of preferred stock. This agreement will reduce the outstanding common shares by 40 percent from 1,063,547,329 to 636,047,329. This is the first step towards reducing the total outstanding shares of common stock by at least 75%.
Elizabeth Karwowski, CEO, stated, "Our mission is to reduce the outstanding shares of common stock to under 300 million shares. This first step shows how serious we are about bringing value to our shareholders. We're working diligently to bring further reductions in the near future. On another note, I'm proud to announce that Operation 2700 is going extremely well. We continue to speak with a growing number of prospective lending partners. Last week, we demonstrated our proprietary software to five financial lending institutions. This week, we expect to demonstrate our proprietary software to an additional five financial lending institutions. We will continue to share our progress as it develops."
BEMG, through its operating subsidiary, Get Credit Healthy, utilizes its proprietary processes, platform, and software to integrate with lenders to make it easier to recapture leads. Developed for and by those with extensive experience in the mortgage industry, Get Credit Healthy's platform has already facilitated over $200 million in new loan opportunities for its partners.
Get Credit Healthy has showed sustained growth over the past three years and shows no signs of slowing down. It is working to increase its network of partners and is looking forward to a very promising future. Please visit the company website at www.betamusicgroup.net; twitter at www.twitter.com/bemg12 and financial information can be found at www.otcmarkets.com/stock/BEMG/profile.
Safe Harbor Statement
This press release contains projections and other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.
For information, please contact:
Elizabeth Karwowski, CEO
Beta Music Group, Inc. t/b/k as MBO Holdings Corp.
Get Credit Healthy, Inc.
8411 West Oakland Park Blvd.
Sunrise, FL 33351
(877)850-3444 Ex 7
Source: Beta Music Group, Inc. t/b/k as MBO Holdings Corp.