Loading, Please Wait...
SUNRISE, Fla., Sept. 06, 2018 (GLOBE NEWSWIRE) -- Beta Music Group Inc. (OTC PINK: BEMG) through its operating subsidiary Get Credit Healthy, Inc. (www.getcredithealthy.com) today announced certain common shareholders have agreed to exchange shares of common stock for preferred stock resulting in a reduction of common shares outstanding from 1,063,547,329 to 248,547,329, an over 76% reduction to the outstanding common shares.
The 815,000,000 shares will be converted into Series A Convertible Preferred Stock and may only be eligible to convert back to restricted common shares under the following conditions; (1) after any period of five consecutive trading days during which the volume weighted average price (“VWAP”) of Common Stock on the OTC Markets or other stock exchange or trading medium where Common Stock is traded exceeds $.20 per share or (2) after any period trailing 12 month Revenues are in excess of $ 3,000,000 or (3) Corporation becomes a Reporting company subject to Section 13 or 15(d) of the Exchange Act or (4) Common Stock is listed or quoted on the OTCQB, Nasdaq Capital Market, Nasdaq Global Market, New York Stock Exchange, NYSE Mkt, or any successor to the OTCQB, Nasdaq Capital Market, Nasdaq Global Market, New York Stock Exchange, or the NYSE Mkt. or (5) August 21st , 2020.
Elizabeth Karwowski, CEO, stated, “We are extremely pleased in the confidence certain shareholders are demonstrating by further restricting their shares to align their interest with the goals of this Company of growth, increased market share, profitability, quality service, positive results for our clients and enhanced shareholder value for all BEMG shareholders. The exchange benefits our common shareholders as the market capitalization will be greatly reduced and upon profitability, per share earnings will increase making our Company more attractive as an investment opportunity."
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. Get Credit Healthy 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.