Powder Springs, GA, September 22, 2021 (GLOBE NEWSWIRE) – via NewMediaWire – CBMJ CEO Mark Schaftlein, through his company Capital Consulting Inc., purchased an additional 31 million shares of restricted common stock, $ 30,000 in convertible debt with a current balance of $ 57,775 in a private purchase transaction and 25% interest in preferred shares.
With the addition of the 31 million shares, Capital Consulting Inc. now owns a total of 60,913,500 restricted common shares, representing 17% of the total issued and outstanding common shares. This more than doubles the shares controlled by the CEO of the company.
âThe closing of this transaction reinforces the continued commitment of my fellow directors and I to creating long-term shareholder value. Coupled with the recent tenure by Capital Consulting Inc. and an investment from Director Floyd Brown, CBMJ now has a more investor-friendly share structure, âsaid CEO Mark Schaftlein.
The business plan is to pay off the $ 57,775 in convertible debt at some point. This aligns with the company’s strategy of repaying the majority of existing convertible debt in order to reduce potential dilution for shareholders. During the last two quarters, $ 144,608 of debt, including accrued interest, was withdrawn from the convertible consideration as a result of this transaction and two prior agreements were made to repay eight additional convertible notes, four of which were paid and reimbursed.
The three directors now collectively own or control 162.5 million restricted common shares, representing 45% of the total issued and outstanding common shares. Brandon Vallorani (45 million shares) and Floyd Brown (40 million shares) acquired their shares following the acquisition of Dedonato Enterprises and Patriot Depot respectively. In addition, Nacel Energy (16.6M) recently converted $ 390,749 of debt into restricted common shares at $ 0.0644 per share.
The free float of free trading shares amounts to 98.8 million shares.
The acquired 250 preferred shares will be transferred to fellow manager Floyd Brown to fulfill a contractual obligation under the Patriot Depot asset purchase agreement that was acquired in June.
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Combined revenues of CBMJ are expected to exceed $ 7.0 million as it completes the acquisition of the assets of USA Depot, Inc.
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The main Conservative Broadcast Media & Journalism e-commerce sites: Store.FlagandCross.com and www.patriotdepot.com. Additionally, CBMJ operates www.thrashercoffee.com, MilitaryGradeCoffee.com and www.valloranicigars.com continue to drive product sales while other informational websites, FlagAndCross.com and http://constitution.com/ are about to contribute additional announcements. turnover in 2021.
The company also confirmed that it plans this year to increase the cast of its CEO’s TV show âThe Schaftlein Reportâ www.schaftleinreport.com, which focuses on the political and economic issues of the day and provides a list over 50 guest commentators. a forum to express their opinions.
About CBMJ: (CBMJ) Conservative Broadcast Media and Journalism is a Metro-Atlanta-based digital marketing company that specializes in reaching a conservative / libertarian / religious audience. Among other assets, CBMJ operates numerous social media accounts across multiple platforms with over 2 million subscribers, has an active database of over 12 million opt-in email subscribers, and publishes a network of 47 monetized political / news websites generating 10 million pageviews per month. Some of the Marquis sites include www.flagandcross.com, www.patriotdepot.com, and www.militarygradecoffee.com. The company also maintains one of the largest collections of historical records on the web at http://constitution.com/.
In addition, CBMJ operates a physical coffee shop in Hiram, GA and e-commerce websites including www.thrashercoffee.com/, www.valloranicigars.com and an e-commerce portal on their main site www.store . .flagandcross.com /. CBMJ now also owns the increasingly popular television, radio and social media segment âThe Schaftlein Reportâ hosted by economic analyst and political commentator Mark Schaftlein. https://schaftleinreport.com/
Forward-Looking Statements: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions about future events or the future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are predictions only and speak only as of the date hereof. In evaluating such statements, potential investors should carefully consider the various risks and uncertainties identified in this press release and the matters disclosed on www.otcmarkets.com. These risks and uncertainties could cause the actual results of the company to differ materially.