At yesterday’s close, Universal Media Group Inc (OTC: UMGP) rose 41.77 percent to $2.80. Volume in UMGP stock was 281.69K, compared to 68.28K for its Average Weekly Volume. In the aftermath of last week’s shareholder update, UMGP stock has been surging.
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UMGP has shared what?
Focusing digital media and productions, UMGP has multiple revenue streams, including “Before the Fame”, “On the Mike”, “High School Icon”, and a new celebrity-focused platform called “NFT Platform”. UMGP’s programming through www.umediagroupinc.com features some of the most famous names in music, film, television, and sports.
The first major corporate expansion initiative taken by Universal Media was announced recently.
Corporate Update:
- UMGP began actively repaying outstanding liabilities in August of 2021.
- As of 12/5/17 and 4/10/19, UMGP has been paid its liabilities and canceled its convertible notes related to those liabilities.
- UMGP will report this in its next quarterly report.
- As part of its uplisting strategy, UMGP has retained an accounting firm that is compliant with the PCAOB to assist with auditing its financials and providing guidance.
- As soon as possible, UMGP will announce some significant corporate actions that will greatly benefit shareholders.
Business Update:
- UMGP continues to develop its High School Icon App and is eager to share the outcome.
- UMGP is expected to launch the app in Q4 2021.
- To validate the exciting path this app will take for UMGP, multiple screens and UI design will be shared in advance of the app’s launch.
- UMGP is excited to announce a syndication deal that will involve the app in the near future.
- The UMGP will be updating a number of projects in the near future.
What did the CEO say?
Universal Media (UMGP) is undergoing so many changes right now. UMGP will soon announce major distribution news regarding “Before the Fame”, but it also has significant network interest in its “High School Icon” project. A number of NFT projects, including “On the Mike”, and “Before the Fame”, have also been developed by UMGP with athletes, stars, and recording artists. UMGP is currently experiencing its busiest and most exciting period yet, said CEO Mike Sherman.
