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SUNRISE, Fla., Sept. 18, 2018 (GLOBE NEWSWIRE) -- Beta Music Group Inc. (OTC PINK: BEMG) through its operating subsidiary Get Credit Healthy, Inc. today announced it is nearing completion of certain common shareholders exchanging shares of common stock for preferred stock. This shall reduce the common shares outstanding from 1,070,213,996 to 255,213,996, an over 76% reduction to the outstanding common shares. The exchange is expected to be completed prior to September 30th, 2018.
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 American, or any successor to the OTCQB, Nasdaq Capital Market, Nasdaq Global Market, New York Stock Exchange, or the NYSE American or (5) August 21st, 2020.
Elizabeth Karwowski, CEO, stated, “With great excitement we are completing the process of cancelling certain shares of common stock and issuing certain shares of preferred stock to best position BEMG to grow, increase market share, achieve profitability, provide quality service, provide positive results for our clients and enhance shareholder value for all BEMG shareholders."
Additionally, Get Credit Healthy is attending the Digital Mortgage Conference in Las Vegas September 17th and September 18th in Las Vegas, NV.
About Digital Mortgage Conference
September 17-18, 2018, Las Vegas, NV Launched in 2016 with more than 750 attendees, in 2017 Digital Mortgage saw over 40% growth with more than 1200+ in attendance. These numbers reflect the trajectory of the digital transformation of the home buying process. Continued themes such as faster access to funds, digital-first capabilities, artificial intelligence, shifting markets and demographics and blockchain will challenge mortgage lenders to seek the best solutions in order to not be left behind. Digital Mortgage 2018 will once again offer content from leading thinkers in the mortgage industry, with 40 live demos showcasing today’s most innovative digital solutions and countless opportunities to meet decision makers across the mortgage ecosystem.
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.