Investors who may be interested in the media space presently have a number of options to choose from, and one of those could be Conservative Broadcast Media & Journalism Inc. (OTC:CBMJ). As it happens, the company was in focus on Wednesday after it made a major new announcement with regards to its debt situation. Let’s take a closer look.
Debt Restructuring
Yesterday, the company hit the news cycle after it announced that it had been successful in the reduction of its debt by as much as 44%. In the news release, Conservative Broadcast Media & Journalism announced that it had managed to accomplish that by restructuring the $1.89 million balance that was owed on a $2 million note related to the original purchase of its fully owned subsidiary unit AMP News Inc.
New Deal
As per the new arrangement, the residual $1.89 million was replaced by a new note worth $110,000 that would be paid on a monthly basis over two years. However, that was not all. Conservative Broadcast Media & Journalism also announced that $175,000 of the previous note was turned into 35 million restricted common shares, and a $50,000 payment was made on that note in cash.
Traders Notes
| +/- EMA(20) | 0.0739 (-12.04%) |
| +/- SMA(50) | 0.0938 (-30.70%) |
| +/- SMA(200) | 0.1613 (-59.70%) |
| 5-Day Perf. | -4.41% |
| 1-Month Perf. | -32.29% |
| 3-Month Perf. | -49.96% |
| 6-Month Perf. | -56.7% |
| YTD Perf. | -30.85% |
| 1-Year Perf. | -89.57% |
| RSI(14) | 42.55 |
| ATR(14) | 0.01 |
| ADX(14) | 11.19 |
| Beta (5Y) | 0.53 |
