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CMG (CMGO)

Cover

Cover - shares9 Months Ended
Sep. 30, 2020Oct. 26, 2020
Cover [Abstract]
Document Type10-Q
Amendment Flagfalse
Document Period End DateSep. 30,
2020
Document Fiscal Period FocusQ3
Document Fiscal Year Focus2020
Current Fiscal Year End Date--12-31
Entity Registrant NameCMG Holdings Group, Inc.
Entity Central Index Key0001346655
Entity Current Reporting StatusNo
Entity Interactive Data CurrentYes
Entity Filer CategoryNon-accelerated Filer
Entity Small Businesstrue
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding440,350,000

Balance Sheets

Balance Sheets - USD ($)Sep. 30, 2020Dec. 31, 2019
CURRENT ASSETS
Cash $ 423,547 $ 781,752
Accounts receivable998 40,513
Total current assets424,545 822,265
Property and equipment10,840 13,625
Convertible note receivable150,000 67,500
Total Assets585,385 903,390
CURRENT LIABILITIES
Accounts payable10,500 74,500
Deferred compensation530,876 656,525
Loan from outside party55,000 90,000
Note payable Kabbage 19,437
Note payable121,250 150,000
Paycheck protection loan45,485
Total current liabilities763,111 990,462
TOTAL LIABILITIES763,111 990,462
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' DEFICIT
Common Stock 450,000,000 shares authorized; $0.001 par value, 440,350,000 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively440,350 449,506
Additional paid in capital14,639,770 14,687,865
Treasury Stock (39,000)
Accumulated deficit(15,257,846)(15,185,443)
TOTAL STOCKHOLDERS DEFICIT(177,726)(87,072)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 585,385 $ 903,390

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / sharesSep. 30, 2020Dec. 31, 2019
Statement of Financial Position [Abstract]
Common Stock, shares authorized450,000,000 450,000,000
Common Stock, par value $ 0.001 $ 0.001
Common Stock, shares issued440,350,000 449,506,008
Common Stock, shares outstanding440,350,000 449,506,008

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Income Statement [Abstract]
Revenues $ 448,727 $ 9,609 $ 2,289,738
Operating expenses
Cost of revenues5,585 117,150 14,228 1,136,517
General and administrative expenses148,451 184,527 517,560 441,410
Total operating expenses154,036 301,677 531,788 1,577,927
Net income from operations(154,036)147,050 (522,179)711,811
Other income
Settlement of notes payable(10,000) (28,750)(25,000)
Settlement of lawsuit184,175 478,527
Write-off of accounts payable 565,967
Total other income174,175 449,777 540,967
Net income $ 20,139 $ 147,050 $ (72,402) $ 1,252,778

Consolidated Statement of Stock

Consolidated Statement of Stockholders Equity - USD ($)Preferred StockCommon StockAdditional Paid-In CapitalTreasury StockAccumulated DeficitTotal
Beginning Balance (in shares) at Dec. 31, 2018 449,506,008
Beginning Balance at Dec. 31, 2018 $ 449,506 $ 14,687,865 $ (16,577,626) $ (1,440,255)
Net Loss1,252,778 1,252,778
Ending Balance (in shares) at Sep. 30, 2019 449,506,008
Ending Balance at Sep. 30, 2019 $ 449,506 14,687,865 (15,324,848)(187,477)
Beginning Balance (in shares) at Dec. 31, 2018 449,506,008
Beginning Balance at Dec. 31, 2018 $ 449,506 14,687,865 (16,577,626)(1,440,255)
Ending Balance (in shares) at Dec. 31, 2019 449,506,008
Ending Balance at Dec. 31, 2019 $ 449,506 14,687,865 (39,000)(15,185,444)(87,072)
Purchase Treasury Stock(18,251)(18,251)
Retire treasury stock (in shares)(9,156,008)
Retire treasury stock $ (9,156)(48,095)57,251
Net Loss(72,402)(72,402)
Ending Balance (in shares) at Sep. 30, 2020 440,350,000
Ending Balance at Sep. 30, 2020 $ 440,350 $ 14,639,770 $ (15,257,846) $ (177,726)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)9 Months Ended
Sep. 30, 2020Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $ (72,402) $ 1,252,778
Adjustments to reconcile net income to cash used in operating activities
Accounts receivable39,515 (138,750)
Depreciation2,786 2,786
Deferred compensation135,000
Accounts payable(64,000)(548,942)
Accrued liabilities (40,408)
Net cash provided by operations40,899 527,464
CASH FLOWS FROM INVESTING ACTIVITIES
Investment(82,500)(25,000)
Proceeds from loan45,485 25,000
Payment of loan(48,189)(80,244)
Payment of loan from outside party(35,000)(25,000)
Payment of deferred compensation(260,649)(61,500)
Net cash provided by investing activities(380,853)(166,744)
CASH FLOWS FROM FINANCING ACTIVITIES
Purchase treasury stock(18,251)(22,575)
Net cash provided by financing activities(18,251)(22,575)
Net increase in cash(358,205)338,145
Cash, beginning of period781,752 162,931
Cash, end of period $ 423,547 $ 501,076

Nature of Operations and Contin

Nature of Operations and Continuance of Business9 Months Ended
Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Continuance of Business1. Nature of Operations and Continuance Of Business Creative Management Group, Inc.
was formed in Delaware on August 13, 2002 as a limited liability company named Creative Management Group, LLC. On August 7, 2007,
this entity converted to a corporation. The Company is a sports, entertainment, marketing and management company providing event
management implementation, sponsorships, licensing and broadcast, production and syndication. On February 20, 2008, Creative
Management Group, Inc. formed CMG Acquisitions, Inc., a Delaware company, for the purpose of acquiring companies and expansion
strategies. On February 20, 2008, Creative Management Group, Inc. acquired 92.6% of Pebble Beach Enterprises, Inc. (a publicly
traded company) and changed the name to CMG Holdings Group, Inc. (“the Company”). The purpose of the acquisition was
to effect a reverse merger with Pebble Beach Enterprises, Inc. at a later date. On May 27, 2008, Pebble Beach
On April 1, 2009, the Company,
through a newly formed subsidiary CMGO Capital, Inc., a Nevada corporation, completed the acquisition of XA, The Experiential Agency,
Inc. On March 31, 2010, the Company and AudioEye, Inc. (“AudioEye”) completed a Stock Purchase Agreement under which
the Company acquired all the capital stock of AudioEye. On June 22, 2011 the Company entered into a Master Agreement subject to
shareholder approval and closing conditions with AudioEye Acquisition Corp., a Nevada corporation where the shareholders of AudioEye
Acquisition Corp. exchanged 100% of the stock in AudioEye Acquisition Corp for 80% of the capital stock of AudioEye. The Company
retained 15% of AudioEye subject to transfer restrictions in accordance with the Master Agreement; in October 2012, the Company
distributed to its shareholders, in a dividend, 5% of the On March 28, 2014, CMG Holdings
Group, Inc. (the “Company” or “CMG”), completed its acquisition of 100% of the shares of Good Gaming, Inc.
(“GGI”) by entering into a Share Exchange Agreement (the “SEA”) with BMB Financial, Inc. and Jackie Beckford,
shareholders of GGI. The sole owner of BMB Financial, Inc. is also the sole owner of Infinite Alpha, Inc. which provides consulting
services to CMG. Pursuant to the SEA, the Company received 100% of the shares of GGI in exchange for 5,000,000 shares of the Company’s
common stock, $33,000 in equipment and consultant compensation and a commitment to pay $200,000 in development costs. On February 18, 2016, the Company
sold the assets of Good Gaming, Inc. to HDS International Corp. and thereafter, HDS changed their name to Good Gaming, Inc, from
CMG Holdings Group, Inc. (OTCQB: GMER) (“Good Gaming”). The Company received in exchange 100,000,000 Class B Preferred
Shares in Good Gaming which are convertible into shares of common stock at a rate of 200 common shares for each Class B Preferred
Shares. Good Gaming, Inc. did a 1,000 to 1 reverse split, thus the 100,000,000 Class B Preferred Shares were converted to 100,000
Class B Preferred Shares. The Company has sold a portion of these Good Gaming shares to date in the market and currently owns the
equivalent of 14,076,200 common shares in the form of preferred stock and common stock. The Company’s operating
subsidiary is XA - The Experiential Agency, Inc. - which is a sports, entertainment, marketing and management company providing
event management implementation, sponsorships, licensing and broadcast, production and syndication. Its President is Alexis Laken,
the daughter of the Company’s president.

Summary of Significant Accounti

Summary of Significant Accounting Policies9 Months Ended
Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies2 Summary of Significant Accounting Policies
a) Basis of Presentation and Principles of Consolidation These
consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in
the United States of America ("GAAP") and are expressed in US dollars. The consolidated financial statements include
the accounts of the Company and its wholly owned subsidiary, XA - The Experiential Agency, Inc. All intercompany transactions have
been eli year-end
b) Use of Estimates The preparation of financial
statements in conformity with generally United
related
compensation an er incom tax asset valuation allowances Th Compan it estimate and
c) Cash and Cash Equivalents The Company considers all
highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. As of September
30, 2020 and December 31, 20 19, the Company had cash equivalents of $423,547 and $781,752, respectively.
d) Basic and Diluted Net Loss Per Share The
Company computes net loss per share in accordance with ASC 260, Earnings Per Share, the options
or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.
e) Financial Instruments AS ' " Fai Valu requires an entity to maximize the use inputs and value . Level 1 Level
1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level
2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability
such as quoted prices for similar observable data. Level 3 Level
3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to
the measurement of the fair value of the assets or liabilities. The Company's financial
instruments consist principally of cash, accounts payable, and amounts due to related parties.
I"
fair
.
f) Property
and Equipment Property and equipment are comprised
of a vehicle and is amortized on a straight-line basis over an expected useful life of three years. Maintenance and repairs are
charged to expense as incurred. The land is not depreciated.
g) Impairment of Long-lived Assets The
Company evaluates the recoverability of long-lived assets and the related estimated remaining lives at each balance sheet date.
The Company records an impairment or change in useful life whenever events or changes in circumstances indicate that the carrying
amount may not be recoverable or the useful life has changed.
h) Revenue Recognition Revenue is recognized when a customer
obtains control of promised goods or services and is recognized in an amount that reflects the consideration that an entity expects
to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing,
and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects
the consideration that the Company expects to receive in exchange for those services. The Company applies the following five-step
model in order to determine this amount: (i) identification of the promised services in the contract; (ii) determination of whether
the promised services are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement
of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance
obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step
model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the services
it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company
reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations
are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance
obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company’s performance obligations
are transferred to customers at a point in time, typically upon delivery. The Company generates revenues through
event management implementation, sponsorships, licensing and broadcast, production and syndication.
i) Cost of Services Cost of services Consist
of marketing and management expenses. The marketing expenses are for the marketing of an event prior to the event taking place.
j) General and Administrative Expense General and administrative
expense are the overhead expense to maintain the Company.
k) Reclassification Certain prior period amounts
have been reclassified to conform to current presentation.
l) Recently issued accounting pronouncements The Company has implemented all new
accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any
other new pronouncements that have been issued that might have a material impact on its financial position or results of operations
except as noted below: FASB ASU 2017-01, Clarifying the
Definition of a Business (Topic 805) In December 2019, the FASB issued
ASU 2019-12, Income Taxes (Topic 740) In February 2020, the FASB issued
ASU 2020-02, Financial Instruments-Credit Losses (Topic 326) and Leases (Topic 842) - Amendments to SEC Paragraphs Pursuant
to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No.
2016-02, Leases (Topic 842), The Company does not believe that
there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position
or results of operations.

Accounts Receivable

Accounts Receivable9 Months Ended
Sep. 30, 2020
Credit Loss [Abstract]
Accounts Receivable3 Accounts Receivable Accounts receivable consist
of invoices for events that occurred prior to year end that the payments were received in the following year. The Balance of accounts
receivable at September 30, 2020 and December 31, 2019 were $998 and $40,513, respectively.

Loan Receivable

Loan Receivable9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Loan Receivable4 Loan Receivable On
November 15, 2019 the company entered into an agreement to a line of credit (LOC) with Pristec America Inc. (Pristec). The LOC
was for $75,000. In January of 2020 the LOC was increased to $100,000. As of June 30, 2020, the Company had loaned to Pristec $100,000
at an interest rate of 12%, the loan matures in twelve (12) months. Pristec is a late stage technology company that has 108 worldwide
patents for the cold cracking of crude oil and other oil products. The Company has been granted the right to convert this loan
into 100 shares of stock at price of $1000. At the discretion of the Company, the Company has the option of entering into a revenue
sharing agreement with Pristec. On June 24, 2020, the Company
loaned $50,000 to New Vacuum Technologies, LLC(NVT). The loan is due ninety (90) days from the date of receipt of funds. The loan
carries an interest rate of ten (10) percent per annum. After the loan is
paid in full, there will be 6 monthly payments of 1,000 a month as return on investment. The reason this loan was made was to open
a relationship between CMG and NVT. The CEO of CMG is extremely excited by NVT's technology for upgrading oil in a disruptive way
and the 2 companies are discussing possible avenues that they might get further involved in the near future.

Accounts Payable

Accounts Payable9 Months Ended
Sep. 30, 2020
Payables and Accruals [Abstract]
Accounts Payable5 Accounts Payable Accounts payable consist of
expenses incurred during the year that had not yet been paid. The balance of accounts payable at September 30, 2020 is $10,500. The
balance of accounts payable at December 31, 2019 is $74,500.

Equity

Equity9 Months Ended
Sep. 30, 2020
Equity [Abstract]
Equity6 Equity
a. Common Stock During
the periods ended September 30, 2020 and December 31, 2019, the Company did not sell any shares of its $0.001 par value per share common
stock.
b. Common Stock Warrants During
the periods ended September 30, 2020 and December 31, 2019, the

Treasury Stock

Treasury Stock9 Months Ended
Sep. 30, 2020
Equity [Abstract]
Treasury Stock7 Treasury Stock During the
year ended December 31, 2019 the Company bought back 6,258,992 shares of its common stock for $39,000. During the period ended
September 30, 2020 the Company bought back an additional 2,897,016 shares of its common stock for $18,251. This treasury stock was retired
during the period end September 30, 2020.

Notes Payable

Notes Payable9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]
Notes Payable8 Notes Payable During
the periods ended September 30, 2020 and December 31, 2019, the Company had the following
notes payable
Notes Payable Balance December 31, 2019 Balance September 30, 2020
Kabbage $ 19,437 $ 0
Notes Payable Irish Pension Fund $ 150,000 $ 121,250 In
September of 2018 the Company took out a line of credit with Kabbage for $75,000. In the fourth quarter of 2018 the company took
draws against the line of $72,300. During that period the Company made principal payments of $804, leaving a principal balance
of $71,496 at December 31, 2018. During the year ended December 31, 2019 the company took an additional draw of $25,000. During
the year ended December 31, 2019 the Company made principal payments of $77,059, leaving a balance of $19,437. During the period
ended September 30, 2020 the Company made principal payments of $19,437, leaving a balance of $0. Interest expense was $2,875 and
$15,380 for the periods ended September 30 2020 and 2019, respectively. The interest rate on this loan is 10%. In
2015 the Company borrowed $150,000 from the two Irish individuals pension funds. $90,000 was borrows from one individual pension
account and $60,000 was borrowed from the other. Repayment terms were to be negotiated after the settlement of the Hudson Gray
lawsuit. The lawsuit settled in January of 2019 and negotiations began. No payment terms were settled upon and were still being
negotiated as of December 31, 2019. In January of 2020 settlement was reached with the lender of the $90,000. The settlement terms
were for repayment of $180,000 over a period of eighteen months quarterly, payment began in January of 2020 with the payment of
$25,000. An additional payment of $12,500 was made in April 2020and $10,000 in July 2020. Settlement has not yet been reached on
the repayment of the $60,000 to the other party. these

Legal Proceedings

Legal Proceedings9 Months Ended
Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings9 Legal Proceedings We
are subject to certain claims and litigation in the ordinary course of business. It is the opinion of management that the outcome
of such matters will not have a material adverse effect on our consolidated financial position, results of operations or cash
flows. In
October 2014, Ronald Burkhard, XA ’ s
alleging damages On
September 25, 2019 the Company filed suit against Eaton & Van Winkle (EVW), Lawrence Allen Steckman (Steckman) and Paul Lieberman
(Lieberman). In December 2019 the defendants settled for a payment of $450,000. On December 13, 2019 the Company received $378,500,
which was the amount of proceeds net of attorney’s fee of $71,500. In
2014 the Company filed a lawsuit against Hudson Gray et al. On January 14, 2019 the parties entered into arbitration. The parties
reached agreement whereby the Company would be paid $2,750,000. The payments are scheduled as follows:
Due Amount Attorney's
Payment upon execution of the agreement $ 400,000 $ 214,548 $ 185,452
On or before February 8, 2019 $ 100,000 $ 53,650 $ 46,350
On or before June 30, 2019 $ 200,000 $ 148,000 $ 52,000
On or before September 30, 2019 $ 200,000 $ 148,000 $ 52,000
On or before December 31, 2019 $ 200,000 $ 146,496 $ 53,504
On or before March 31, 2020 $ 200,000 $ 148,000 $ 52,000
On or before June 30, 2020 $ 200,000 $ 146,352 $ 53,648
On or before September 30, 2020 $ 250,000 $ 184,175 $ 63,825
On or before December 31, 2020 $ 250,000
On or before March 31, 2021 $ 250,000
On or before June 30, 2021 $ 250,000
On or before September 30, 2021 $ 250,000
$ 2,750,000 $ 1,189,221 $ 558,779

Income Taxes

Income Taxes9 Months Ended
Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes10 Income
Taxes The
Company has a net operating loss carried forward of $15,277,236 available to offset taxable income in future years which commence
expiring in 2028. The Company is subject to United States federal and state income taxes at an approximate rate of 21% (2019 and
2018). As of September 30, 2020 and December 31, 2019, the Company had no uncertain tax positions.
September 30, 2020
Income tax recovery at Statutory rate $ (15,204 )
Permanent differences and other —
Valuation allowance change 15,204
Provision for income taxes $ — The significant components
of deferred income tax assets and liabilities at September 30, 2020 and December 31, 2019 are as follows:
September 30, 2020 December 31, 2019
Net operating loss carried forward $ 15,257,846 $ 15,185,444
Valuation allowance $ (15,257,846 ) $ (15,185,444 )
Net deferred income tax asset $ — $ —

Segments

Segments9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]
Segments11 Segments The
Company splits its business activities during the period ended June 30, 2020 into two reportable segments. Each segment represents
an entity of which are included in the consolidation. The table below represents the operations results for each segment or entity,
for the period ended June 30, 2020.
CMG Holding
XA Group Total
Revenues 9,609 — 9,609
Operating expenses 259,902 271,887 531,789
Operating income (loss) (250,293 ) (271,887 ) (522,180 )
Other income (expenses) — 449,777 449,777
Net income(loss) (250,293 ) 177,890 (72,403 )

Related Party Transactions

Related Party Transactions9 Months Ended
Sep. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions12 Related Party Transactions During
the year ended December 31, 2015 the Company borrowed $96,100 from a Company shareholder. This amount is due on demand and has
an interest rate of 0%. The Company also borrowed $125,000 from a relative of the Company CEO. This amount is due on demand and
has an interest rate of 0%. During the year ended December 31, 2019 the Company paid off the $96,100 and $35,000 toward the $125,000
loans, leaving a balance of $90,000. Payments of $35,000 were made during the period ended September 30, 2020, leaving a balance
of $55,000. The Company issued the
Company CEO a warrant to purchase 40,000,000 shares of the Company’s common stock at $0.0155. The warrant
has an original term of 5 years. On December 15, 2017 the purchase price was changed to $.0035
The
board of directors approved a monthly salary for the Company CEO of $15,000 per month. The Company made payments of $103,474 in
excess of the current $180,000 salary for year ended December 31, 2019. The Company made payments of $125,649 in excess of the
current $135,000 salary for period ended September 31, 2020.

Subsequent Events

Subsequent Events9 Months Ended
Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events13 Subsequent Events Per management review,
no material subsequent events have occurred.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)9 Months Ended
Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidationa) Basis of Presentation and Principles of Consolidation These
consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in
the United States of America ("GAAP") and are expressed in US dollars. The consolidated financial statements include
the accounts of the Company and its wholly owned subsidiary, XA - The Experiential Agency, Inc. All intercompany transactions have
been eli year-end
Use of Estimatesb) Use of Estimates The preparation of financial
statements in conformity with generally United
related
compensation an er incom tax asset valuation allowances Th Compan it estimate and
Cash and Cash Equivalentsc) Cash and Cash Equivalents The Company considers all
highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. As of September
30, 2020 and December 31, 20 19, the Company had cash equivalents of $423,547 and $781,752, respectively.
Basic and Diluted Net Loss Per Shared) Basic and Diluted Net Loss Per Share The
Company computes net loss per share in accordance with ASC 260, Earnings Per Share, the options
or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.
Financial Instrumentse) Financial Instruments AS ' " Fai Valu requires an entity to maximize the use inputs and value . Level 1 Level
1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level
2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability
such as quoted prices for similar observable data. Level 3 Level
3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to
the measurement of the fair value of the assets or liabilities. The Company's financial
instruments consist principally of cash, accounts payable, and amounts due to related parties.
I"
fair
.
Property and Equipmentf) Property
and Equipment Property and equipment are comprised
of a vehicle and is amortized on a straight-line basis over an expected useful life of three years. Maintenance and repairs are
charged to expense as incurred. The land is not depreciated.
Impairment of Long-lived Assetsg) Impairment of Long-lived Assets The
Company evaluates the recoverability of long-lived assets and the related estimated remaining lives at each balance sheet date.
The Company records an impairment or change in useful life whenever events or changes in circumstances indicate that the carrying
amount may not be recoverable or the useful life has changed.
Revenue Recognitionh) Revenue Recognition Revenue is recognized when a customer
obtains control of promised goods or services and is recognized in an amount that reflects the consideration that an entity expects
to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing,
and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects
the consideration that the Company expects to receive in exchange for those services. The Company applies the following five-step
model in order to determine this amount: (i) identification of the promised services in the contract; (ii) determination of whether
the promised services are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement
of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance
obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step
model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the services
it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company
reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations
are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance
obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company’s performance obligations
are transferred to customers at a point in time, typically upon delivery. The Company generates revenues through
event management implementation, sponsorships, licensing and broadcast, production and syndication.
Cost of Servicesi) Cost of Services Cost of services Consist
of marketing and management expenses. The marketing expenses are for the marketing of an event prior to the event taking place.
General and Administrative Expensej) General and Administrative Expense General and administrative
expense are the overhead expense to maintain the Company.
Reclassificationk) Reclassification Certain prior period amounts
have been reclassified to conform to current presentation.
Recently issued accounting pronouncementsl) Recently issued accounting pronouncements The Company has implemented all new
accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any
other new pronouncements that have been issued that might have a material impact on its financial position or results of operations
except as noted below: FASB ASU 2017-01, Clarifying the
Definition of a Business (Topic 805) In December 2019, the FASB issued
ASU 2019-12, Income Taxes (Topic 740) In February 2020, the FASB issued
ASU 2020-02, Financial Instruments-Credit Losses (Topic 326) and Leases (Topic 842) - Amendments to SEC Paragraphs Pursuant
to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No.
2016-02, Leases (Topic 842), The Company does not believe that
there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position
or results of operations.

Notes Payable (Tables)

Notes Payable (Tables)9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]
Notes PayableNotes Payable Balance December 31, 2019 Balance September 30, 2020
Kabbage $ 19,437 $ 0
Notes Payable Irish Pension Fund $ 150,000 $ 121,250

Legal Proceedings (Tables)

Legal Proceedings (Tables)9 Months Ended
Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Legal ProceedingsDue Amount Attorney's
Payment upon execution of the agreement $ 400,000 $ 214,548 $ 185,452
On or before February 8, 2019 $ 100,000 $ 53,650 $ 46,350
On or before June 30, 2019 $ 200,000 $ 148,000 $ 52,000
On or before September 30, 2019 $ 200,000 $ 148,000 $ 52,000
On or before December 31, 2019 $ 200,000 $ 146,496 $ 53,504
On or before March 31, 2020 $ 200,000 $ 148,000 $ 52,000
On or before June 30, 2020 $ 200,000 $ 146,352 $ 53,648
On or before September 30, 2020 $ 250,000 $ 184,175 $ 63,825
On or before December 31, 2020 $ 250,000
On or before March 31, 2021 $ 250,000
On or before June 30, 2021 $ 250,000
On or before September 30, 2021 $ 250,000
$ 2,750,000 $ 1,189,221 $ 558,779

Income Taxes (Tables)

Income Taxes (Tables)9 Months Ended
Sep. 30, 2020
Income Tax Disclosure [Abstract]
Provision for Income taxSeptember 30, 2020
Income tax recovery at Statutory rate $ (15,204 )
Permanent differences and other —
Valuation allowance change 15,204
Provision for income taxes $ —
Deferred Income TaxSeptember 30, 2020 December 31, 2019
Net operating loss carried forward $ 15,257,846 $ 15,185,444
Valuation allowance $ (15,257,846 ) $ (15,185,444 )
Net deferred income tax asset $ — $ —

Segments (Tables)

Segments (Tables)9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]
SegmentsCMG Holding
XA Group Total
Revenues 9,609 — 9,609
Operating expenses 259,902 271,887 531,789
Operating income (loss) (250,293 ) (271,887 ) (522,180 )
Other income (expenses) — 449,777 449,777
Net income(loss) (250,293 ) 177,890 (72,403 )

Nature of Operations and Cont_2

Nature of Operations and Continuance of Business (Details Narrative) - shares1 Months Ended
Feb. 18, 2016Feb. 20, 2008
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Ownership92.60%
Shares received in acquisition100,000,000 22,135,148
Conversion of shares200 common shares for each Class B Preferred Share
Reverse stock split1,000 to 1
Shares received in acquisition, adjusted100,000
Shares owned from acquition14,076,200

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)Sep. 30, 2020Dec. 31, 2019Sep. 30, 2019Dec. 31, 2018
Accounting Policies [Abstract]
Cash $ 423,547 $ 781,752 $ 501,076 $ 162,931

Accounts Receivable (Details Na

Accounts Receivable (Details Narrative) - USD ($)Sep. 30, 2020Dec. 31, 2019
Credit Loss [Abstract]
Accounts receivable $ 998 $ 40,513

Loan Receivable (Details Narrat

Loan Receivable (Details Narrative) - USD ($)6 Months Ended
Jun. 30, 2020Jun. 24, 2020Dec. 31, 2019
Notes to Financial Statements
Line of credit to Pristec $ 100,000 $ 75,000
Loan receivable $ 50,000
Interest rate12.00%10.00%
Convert loan receivable to shares100
Convert loan receivable to shares, amount $ 1,000
Loan receivable NVT $ 1,000

Accounts Payable (Details Narra

Accounts Payable (Details Narrative) - USD ($)Sep. 30, 2020Dec. 31, 2019
Payables and Accruals [Abstract]
Accounts payable $ 10,500 $ 74,500

Equity (Details Narrative)

Equity (Details Narrative) - $ / shares11 Months Ended
Dec. 15, 2017Dec. 15, 2015Sep. 30, 2020Dec. 31, 2019
Equity [Abstract]
Common Stock, par value $ 0.001 $ 0.001
Warrants outstanding40,000,000 40,000,000
Warrants outstanding, price per share $ 0.0035 $ 0.0155
Warrants outstanding term5 years5 years

Treasury Stock (Details Narrati

Treasury Stock (Details Narrative) - USD ($)9 Months Ended12 Months Ended
Sep. 30, 2020Dec. 31, 2019
Purchase shares of treasury stock, amount $ 18,251
Treasury stock [Member]
Purchase shares of treasury stock, shares2,897,016 6,258,992
Purchase shares of treasury stock, amount $ 18,251 $ 39,000

Notes Payable - Notes Payable (

Notes Payable - Notes Payable (Details) - USD ($)Sep. 30, 2020Dec. 31, 2019Dec. 31, 2018
Debt Disclosure [Abstract]
Loan payable $ 19,437 $ 71,496
Note payable $ 121,250 $ 150,000

Notes Payable- Line of credit (

Notes Payable- Line of credit (Details Narrative) - USD ($)3 Months Ended9 Months Ended12 Months Ended
Dec. 31, 2018Sep. 30, 2020Sep. 30, 2019Dec. 31, 2019Sep. 30, 2018
Debt Disclosure [Abstract]
Line of credit capacity $ 75,000
Proceeds from Line of credit $ 72,300 $ 25,000
Payments on line of credit804 $ 19,437 77,059
Line of credit $ 71,496 $ 19,437
Interest Expense $ 2,875 $ 15,380
Interest rate10.00%

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) - USD ($)9 Months Ended12 Months Ended
Sep. 30, 2020Dec. 31, 2019Dec. 31, 2015Jul. 31, 2020Apr. 30, 2020
Proceeds from Pension Fund Loan $ 150,000
Note payable $ 121,250 $ 150,000
Pension Fund 1 [Member]
Proceeds from Pension Fund Loan90,000
Payments on Pension Fund Loan $ 0
Litigation settlement180,000
Payment on settlement $ 25,000
Principal payment $ 10,000 $ 12,500
Pension Fund 2 [Member]
Proceeds from Pension Fund Loan $ 60,000

Legal Proceedings (Details Narr

Legal Proceedings (Details Narrative) - USD ($)1 Months Ended12 Months Ended
Oct. 31, 2014Dec. 31, 2019Dec. 31, 2018
Burkhard [Member]
Litigationbreach of his employment contract
Damages sought $ 695,000 $ 775,000
Settlement Amount $ 105,000
Eaton & Van Winkle [Member]
Damages sought $ 450,000
Settlement Received378,500
Attorney Fees $ 71,500

Legal Proceedings - Legal Proce

Legal Proceedings - Legal Proceedings (Details) - Hudson Gray [Member] - USD ($)Jan. 14, 2019Feb. 08, 2019Sep. 30, 2021Jun. 30, 2021Mar. 30, 2021Dec. 31, 2020Sep. 30, 2020Jun. 30, 2020Mar. 31, 2020Dec. 31, 2019Sep. 30, 2019Jun. 30, 2019Sep. 30, 2020
Settlement awarded $ 400,000 $ 100,000 $ 250,000 $ 250,000 $ 250,000 $ 250,000 $ 250,000 $ 200,000 $ 200,000 $ 200,000 $ 200,000 $ 200,000 $ 2,750,000
Settlement Received214,548 53,650 $ 250,000 $ 250,000 $ 250,000 $ 250,000 184,175 146,352 148,000 146,496 148,000 148,000 1,189,221
Attorney Fees $ 185,452 $ 46,350 $ 63,825 $ 53,648 $ 52,000 $ 53,504 $ 52,000 $ 52,000 $ 558,779

Income Taxes - Provision for In

Income Taxes - Provision for Income tax (Details)9 Months Ended
Sep. 30, 2020USD ($)
Income Tax Disclosure [Abstract]
Income tax recovery at Statutory rate $ (15,204)
Permanent differences and other
Valuation allowance change15,204
Provision for income taxes

Income Taxes - Deferred Income

Income Taxes - Deferred Income Tax (Details) - USD ($)Sep. 30, 2020Dec. 31, 2019
Income Tax Disclosure [Abstract]
Net operating loss carried forward $ 15,257,846 $ 15,185,444
Valuation allowance(15,257,846)(15,185,444)
Net deferred income tax asset

Income Taxes (Details Narrative

Income Taxes (Details Narrative)9 Months Ended
Sep. 30, 2020USD ($)
Income Tax Disclosure [Abstract]
Net operating loss carryforward $ 15,277,236
U.S. statutory rate21.00%

Segments - Segments (Details)

Segments - Segments (Details) - USD ($)3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Revenues $ 448,727 $ 9,609 $ 2,289,738
Operating expenses154,036 301,677 531,788 1,577,927
Operating income (loss)(154,036)147,050 (522,179)711,811
Total other income (expense)174,175 449,777 540,967
Net income(loss) $ 20,139 $ 147,050 (72,402) $ 1,252,778
XA [Member]
Revenues9,609
Operating expenses259,902
Operating income (loss)(250,293)
Total other income (expense)
Net income(loss)(250,293)
CMG Holding Group[Member]
Revenues
Operating expenses271,887
Operating income (loss)(271,887)
Total other income (expense)449,777
Net income(loss) $ 177,890

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)9 Months Ended11 Months Ended12 Months Ended
Sep. 30, 2020Dec. 15, 2017Dec. 15, 2015Dec. 31, 2019Dec. 31, 2015
Loan from outside party $ 55,000 $ 90,000
Warrants outstanding40,000,000 40,000,000
Warrants outstanding, price per share $ 0.0035 $ 0.0155
Warrants outstanding term5 years5 years
Shareholder [Member]
Proceeds from loan $ 96,100
Payment of loan payable96,100
Related Party [Member]
Proceeds from loan $ 125,000
Payment of loan payable35,000
CEO [Member]
Monthly Salary15,000
Payments for Salary125,649 180,000
Payments in excess for salary $ 135,000 $ 103,474