30 Sep MBO Holdings (BEMG) Nearing Completion of Stock Exchange to Reduce the Outstanding Common Shares by 815,000,000 (an Over 76% Reduction) and Attending Digital Mortgage Conference
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.