CBMJ Posts Quarterly Report - Completes 59.7M Share Reduction
Powder Springs, GA - (NewMediaWire) - November 17, 2022 - Conservative Broadcast Media and Journalism posted its quarterly report Wednesday 11/16/2022.
During the quarter, the company completed the sale of the e-commerce business, retired the shares and reported a loss of ($.01) per share. As part of the sale, the company returned 59.76M shares of common stock, reducing its issued and outstanding share count to 359.4M. The float remained unchanged at 92M.
The operating loss for the quarter was $159K. The company took a non-cash charge of $3.5M.
Commenting on the quarter, Mark Schaftlein, CEO, stated: "We materially downsized the business exiting the e-commerce business to enable us to restart our growth opportunities in other areas. With the share reduction completed, we now have those opportunities."
About CBMJ: (CBMJ) Conservative Broadcast Media and Journalism is a Digital Media Company based in Metro-Atlanta that specializes in reaching a conservative/libertarian/religious audience. CBMJ owns an active database of email subscribers, and publishes the marquis monetized political/news website www.flagandcross.com . CBMJ also distributes the increasingly popular TV, radio, and social media segment "The Schaftlein Report" hosted by economic analyst, political commentator Mark Schaftlein. https://schaftleinreport.com/ .
Forward-Looking Statements: This 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 concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com . These risks and uncertainties could cause the company's actual results to differ materially.
Conservative Broadcast Media & Journalism