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CMG (CMGO)

Document_and_Entity_Informatio

Document and Entity Information3 Months Ended
Mar. 31, 201515-May-14
Document and Entity Information:
Entity Registrant NameCMG Holdings Group, Inc.
Entity Central Index Key1346655
Amendment FlagFALSE
Current Fiscal Year End Date-19
Document Type10-Q
Document Period End Date31-Mar-15
Document Fiscal Year Focus2015
Document Fiscal Period FocusQ1
Entity Filer CategorySmaller Reporting Company
Entity Common Stock, Shares Outstanding290,679,190

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)Mar. 31, 2015Dec. 31, 2014
CURRENT ASSETS:
Cash$7,023 $27,886
Prepaid expenses and other current assets8,4008,400
Total Current Assets15,42336,286
Property and equipment, net30,33532,192
Goodwill54,50054,500
TOTAL ASSETS100,258122,978
CURRENT LIABILITIES:
Accounts payable676,671676,671
Deferred compensation85,00040,000
Accrued liabilities137,559129,422
Loans payable shareholders50,000  
Convertible notes - carrying value159,13374,679
Derivative liabilities408,100400,892
Total Current Liabilities1,516,4631,321,664
TOTAL LIABILITIES1,516,4631,321,664
STOCKHOLDERS' DEFICIT
Common Stock: 450,000,000 shares authorized, par value $.001 per share; 289,329,190 and 289,329,190 shares issued and outstanding as of March 31, 2015 and December 31, 2014289,329289,329
Additional paid in capital14,740,04214,740,042
Treasury Stock, 37,174 and 37,174 shares held, respectively, at cost of -0-, as of March 31, 2015 and December 31, 2014.    
Accumulated deficit-16,445,576-16,228,057
TOTAL STOCKHOLDERS' DEFICIT-1,416,205-1,198,686
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT100,258122,978
Series A Convertible Preferred Stock
STOCKHOLDERS' DEFICIT
Preferred stock:    
Series B Convertible Preferred Stock
STOCKHOLDERS' DEFICIT
Preferred stock:    

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)Mar. 31, 2015Dec. 31, 2014
Common Stock, shares authorized450,000,000450,000,000
Common Stock, par value$0.00 $0.00
Common Stock, shares issued289,329,190289,329,190
Common Stock, shares outstanding289,329,190289,329,190
Treasury Stock, number of shares held37,17437,174
Treasury Stock, cost$0 $0
Series A Convertible Preferred Stock
Preferred Stock, shares authorized5,000,0005,000,000
Preferred stock, par value$0.00 $0.00
Preferred stock, shares issued    
Preferred stock, shares outstanding    
Series B Convertible Preferred Stock
Preferred Stock, shares authorized5,000,0005,000,000
Preferred stock, par value$0.00 $0.00
Preferred stock, shares issued00
Preferred stock, shares outstanding00

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (Unaudited) (USD $)3 Months Ended
Mar. 31, 2015Mar. 31, 2014
Consolidated Statement of Operations
Revenues$41,690 $1,554,748
Operating Expenses:
Cost of revenues34,077880,992
General and administrative expenses125,792894,288
Total Operating Expenses159,8691,775,280
Operating Loss-118,179-220,532
Other Income (Expense):
Gain (loss) on derivative liability-84,4548,307
Realized gain on marketable securities  193,487
Unrealized gain on marketable securities  2,456
Derivative interest-7,208  
Interest expense-7,678-133
Other expense  -4,558
Total Other Income (Expense)-99,340199,559
Income (loss) from continuing operations-217,519-20,973
Net Income($217,519)($20,973)
Basic income (loss) per common share for continuing operations    
Basic income per common share for discontinued operations    
Total basic income per common share    
Diluted loss per share for continued operations    
Diluted income (loss) per common share for discontinued operations    
Total diluted income per common share    
Basic weighted average common shares outstanding286,329,190285,323,857

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)3 Months Ended
Mar. 31, 2015Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income from continuing operations($217,519)($20,973)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Amortization of debt discount84,454  
Depreciation1,857
(Gain) loss on derivatives7,208-8,307
Realized gain on trading securities  -193,487
Unrealized gain on trading securities  -2,456
Changes in:
Accounts receivable  -251,096
Prepaid expense and other current assets  -1,243,369
Deferred income  3,492,754
Accrued liabilities8,137-150,001
Accounts payable  267,484
Deferred compensation45,000  
Net cash provided by (used in) operating activities-70,8631,890,549
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of trading securities  250,000
Proceeds from shareholder loans50,000  
Net cash provided by (used in) investing activities50,000250,000
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sales of common stock  15,000
Net cash (used in) provided by financing activities  15,000
Net increase in cash-20,8632,155,549
Cash, beginning of period27,886476,588
Cash, end of period7,0232,632,137
Supplemental cash flow information:
Interest paid  201
Non-cash investing and financing activity:    

Description_of_Business_and_Su

Description of Business and Summary of Significant Accounting Policies3 Months Ended
Mar. 31, 2015
Description of Business and Summary of Significant Accounting Policies [Abstract]
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESNOTE 1: DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Business Activity
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 and changed its legal name to Creative Management Group Inc.  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 entered into an Agreement and Plan of Reorganization with its controlling shareholder, Creative Management Group, Inc., a privately held Delaware corporation. Upon closing the eighty shareholders of Creative Management Group delivered all of their equity interests in Creative Management Group to Pebble Beach in exchange for shares of common stock in Pebble Beach owned by Creative Management Group, as a result of which Creative Management Group became a wholly-owned subsidiary of Pebble Beach. The shareholders of Creative Management Group received one share of Pebble Beach’s common stock previously owned by Creative Management Group for each issued and outstanding common share owned of Creative Management Group. As a result, the 22,135,148 shares of Pebble Beach that were issued and previously owned by Creative Management Group, are now owned directly by its shareholders. The 22,135,148 shares of Creative Management Group previously owned by its shareholders are now owned by Pebble Beach, thereby making Creative Management Group a wholly-owned subsidiary of Pebble Beach. Pebble Beach did not issue any new shares as part of the Reorganization. The transaction was accounted for as a reverse merger and recapitalization whereby Creative Management Group is the accounting acquirer. Pebble Beach was renamed CMG Holdings Group, Inc.
On April 1, 2009, the Company, through a newly formed wholly owned 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 the final Stock Purchase Agreement under which the Company acquired all of the outstanding capital stock of AudioEye. On June 22, 2011 the Company entered into a Master Agreement subject to shareholder approval as may be required under applicable law and subject to 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; on October 2012, the Company distributed to its shareholders, in the form of a dividend, 5% of the capital stock of AudioEye in accordance with provisions of the Master Agreement.
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, the then 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. As of September 30, 2014, the Company has paid $58,600 of equipment and consultant compensation and $190,550 in development costs, of which $50,000 of the development costs had been advanced by the Company, prior to entering the agreement. In addition, pursuant to the SEA, CMG shall adopt an incentive plan for GGI which shall entitle the GGI officers, directors and employees to receive up to 30% of the net profits of GGI and up to 30% of the proceeds, in the event of a sale of GGI or its assets.
An Assignment for the Benefit of Creditors(ABC) was done through a Trust Agreement and was executed on February 24, 2015, transferring all of the assets of our subsidiary XA to a trust which subsequently advertised a sale of XA's assets. CMG Holdings, Inc. purchased the assets for the approximate sum of $60,000 (the "Sale").An Asset Purchase Agreement was initially executed between XA and the Company on March 4, 2015. The Sale of XA's assets to CMG was fully consummated on March 25, 2015. Only assets were purchased by CMG liabilities were not assumed. The assets consisted of, among other things, all personal property of XA including accounts receivable, the XA name and other general intangibles of XA, as well as a cause of action involving stolen services.
  
Principles of Consolidation
The consolidated financial statements include the accounts of CMG Holdings Group, Inc., XA, The Experiential Agency, Inc. ("XA") and GGI after elimination of all significant inter-company accounts and transactions.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the period reported. Estimates are used when accounting for allowance for doubtful accounts, depreciation, and contingencies. Actual results could differ from those estimates.
Concentrations of Risk
Financial Institutions - The Company maintains its cash balances at two financial institutions where they are insured by the Federal Deposit Insurance Corporation up to $250,000 each. At September 30, 2014 and December 31, 2013, neither of these accounts was in excess of the limit. The Company also maintains a money market investment account at one securities firm where the account is insured by the Securities Investor Protection Corporation up to $500,000 for the bankruptcy, etc., of the securities firm. At December 31and 2013, the account did not have a balance in excess of the limit.
Sales and Accounts Receivable – For three months ended March 31, 2015and the year ended December 31, 2014, one customer accounts for 93% and 93% of the Company’s total revenues, respectively.
Revenue and Cost Recognition
The Company earns revenues by providing event management services under individually negotiated contracts with varying terms, recognizing revenue in accordance with ASC 605, Revenue Recognition, only when the price is fixed or determinable, persuasive evidence of an arrangement exists, the services have been provided and collectability is assured.   In arrangements where key indicators suggest the Company acts as principal, the Company records the gross amount billed to the client as revenue and the related costs incurred as cost of revenues as the services are provided.
Accounts Receivable and Allowance for Doubtful Accounts
Accounts receivable are amounts due from event management services, are unsecured and are carried at their estimated collectible amounts. Credit is generally extended on a short-term basis and do not bear interest, although a finance charge may be applied to amounts outstanding more than thirty days. Accounts receivable are periodically evaluated for collectability based on past credit history with clients. Provisions for losses on accounts receivable are determined on the basis of loss experience, known and inherent risk in the account balance and current economic conditions.  There were no allowances for doubtful accounts as of December 31, 2014 and 2013.
  
Share-Based Compensation
The Company accounts for share-based compensation to employees in accordance with Accounting Standards Codification subtopic 718-10, Stock Compensation (“ASC 718-10”) and share-based compensation to non-employees in accordance with ASC 505-50 Accounting for Equity Instruments Issued to Non-Employees for Acquiring, or in Conjunction with Selling, Goods or Services. ASC 718-10 and 505-50 require the measurement and recognition of compensation expense for all share-based payment awards, including stock options based on the estimated fair values.
  
Derivative Instruments
We generally do not use derivative financial instruments to hedge exposures to cash-flow risks or market-risks. However, certain financial instruments, such as warrants and the embedded conversion features of our convertible promissory notes and debentures, which are indexed to our common stock, are classified as liabilities when either (a) the holder possesses rights to net-cash settlement or (b) physical or net-share settlement is not within our control. In such instances, net-cash settlement is assumed for financial accounting and reporting purposes, even when the terms of the underlying contracts do not provide for net-cash settlement. Derivative financial instruments are initially recorded, and continuously carried, at fair value.
Determining the fair value of these complex derivative financial instruments involves judgment and the use of certain relevant assumptions including, but not limited to, interest rates, volatility and conversion and redemption privileges. The use of different assumptions could have a material effect on the estimated fair value amounts.
The Company accounts for derivative instruments in accordance with ASC Topic 815, Derivatives and Hedging, and all derivative instruments are reflected as either assets or liabilities at fair value in the balance sheet.
The Company uses estimates of fair value to value its derivative instruments. Fair value is defined as the price to sell an asset or transfer a liability in an orderly transaction between willing and able market participants. In general, the Company’s policy in estimating fair values is to first look at observable market prices for identical assets and liabilities in active markets, where available. When these are not available, other inputs are used to model fair value such as prices of similar instruments, yield curves, volatilities, prepayment speeds, default rates and credit spreads (including for the Company’s liabilities), relying first on observable data from active markets. Additional adjustments may be made for factors including liquidity, credit, bid/offer spreads, etc., depending on current market conditions. Transaction costs are not included in the determination of fair value. When possible, The Company seeks to validate the model’s output to market transactions. Depending on the availability of observable inputs and prices, different valuation models could produce materially different fair value estimates. The values presented may not represent future fair values and may not be realizable. The Company categorizes its fair value estimates in accordance with ASC 820, Fair Value Measurements (ASC 820), based on the hierarchical framework associated with the three levels of price transparency utilized in measuring financial instruments.
Cash and Cash Equivalents
For purposes of the statement of cash flows, the Company considers all short-term debt securities purchased with maturity of three months or less to be cash equivalents.
  
Property and Equipment
Property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the respective assets, which is generally between three and five years. Depreciation expense was $1,857 and $0 for the three months ended March 31, 2015 and 2014, respectively.
Intangible Assets
Intangible assets are stated at cost, net of accumulated amortization.
Income Taxes
The Company accounts for income taxes using the asset and liability approach. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amounts expected to be realized.  Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
Basic and Diluted Net Loss per Share
The Company computes net loss per share in accordance with ASC 260, Earnings Per Share, which requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.
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 accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.
Fair Value Measurements
ASC 820 and ASC 825, Financial Instruments (ASC 825), requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. It establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. It prioritizes the inputs into three levels that may be used to measure fair value:
Level 1 – Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities and listed equities.
   
Level 2 – Pricing inputs are other than quoted prices in active markets included in level 1, which are either directly or indirectly observable as of the reported date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors, and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Instruments in this category generally include non-exchange-traded derivatives such as commodity swaps, interest rate swaps, options and collars.
Level 3 – Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value.
  
The Company’s financial instruments consist principally of cash, accounts receivable, accounts payable and accrued liabilities. Pursuant to ASC 820 and 825, the fair value of cash is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.
The following table sets forth by level with the fair value hierarchy the Company’s financial assets and liabilities measured at fair value on March 31, 2015 and December 31, 2014:
  
31-Mar-15Level 1Level 2Level 3Total
Derivative Liabilities$-$-$408,100$408,100
31-Dec-14Level 1Level 2Level 3Total
Derivative Liabilities$-$-$400,892$400,892
Investments in Debt and Equity Securities
The Company applies the provisions of Accounting Standards Codification 320, Investments – Debt and Equity Securities, regarding marketable securities. The Company invests in securities that are intended to be bought and held principally for the purpose of selling them in the near term, and as a result, classifies such investments as trading securities. Trading securities are recorded at fair value on the balance sheet with changes in fair value being reflected as unrealized gains or losses in the current period. In addition, the Company classifies the cash flows from purchases, sales, and maturities of trading securities as cash flows from operating activities.
Details of the Company's marketable trading securities as of March 31, 2015 and December 31, 2014 are as follows:
March 31,December 31, 
20152014
Aggregate fair value$-$-
Gross unrealized holding gains (losses)--
Proceeds from sales$-$850,470
Gross realized gains-86,382
Gross realized losses--
Other than temporary impairment--

Equity

Equity3 Months Ended
Mar. 31, 2015
Equity [Abstract]
EQUITYNOTE 2 - EQUITY
Preferred Stock
Series B Preferred Stock and Inventory Purchase
During August 2013, the Company entered into a Termination Agreement and Release (the “Agreement”) with Continental Investments Group (Continental), the holder of a $85,000 convertible note payable of the Company and the holder of 2,500,000 shares of restricted common stock.  The Agreement calls for the termination and cancellation of a Sale and Purchase agreement, whereby the Company agreed to issue 50,000 shares of Series B Convertible Preferred Stock in exchange for 20,000 cartoon animated Cels. The Agreement also calls for the cancellation of the $85,000 convertible note and related interest and for Continental to return the 2,500,000 shares of restricted common stock.
  
Common Stock
On January 29, 2014, the Company sold 1,500,000 shares of its common stock for $0.01 per share and net proceeds of $15,000. 
On March 28, 2014, the Company issued 5,000,000 shares of its common stock pursuant to the acquisition of its subsidiary. The shares were valued at a total of $87,500 or $0.0175 per share, the closing price of the company’s common stock on the OTCQB.
On April 7, 2014, the Company issued 522,000 shares of its common stock pursuant to a consulting agreement. The shares were valued at a total of $8,613 or $0.0165 per share, the closing price of the company’s common stock on the OTCQB.
On May 9, 2014, the Company issued to a total of 6,000,000 shares of Common Stock to its three former directors of the Company, with each former director receiving 2,000,000 shares, pursuant to the agreements between the Company and each of the former directors dated February 5, 2014.
On June 30, 2014, the Company canceled 7,350,000 shares of common stock pursuant to a settlement agreement with CMGO Investors LLC and Craig Boden.
Common Stock Warrants
On April 7, 2014, we issued to our newly appointed CEO and Chairman of the Board of Directors, as compensation, a warrant to purchase a total of 40,000,000 shares of Common Stock at the exercise price of $0.0155 with a term of 5 years.
A summary of warrant activity for the nine months ended March 31, 2015 and the year ended December 31, 2014 is as follows: 
  
Outstanding Weighted average 
and ExercisableExercise Price
31-Dec-131,798,000$0.28
Granted40,000,000$0.016
Exercised--
Expired(1,798,000)
31-Dec-1440,000,000$0.02
Granted
Exercised
Expired
31-Mar-1540,000,0000.0021
As of March 31, 2015, the warrants have a weighted average remaining life of 4.43 years with $0 aggregate intrinsic value.

Property_and_Equipment

Property and Equipment3 Months Ended
Mar. 31, 2015
Property and Equipment [Abstract]
PROPERTY AND EQUIPMENTNOTE 3 – PROPERTY AND EQUIPMENT
31-Mar-1431-Dec-14
Equipment$33,000$33,000
Leasehold Improvements4,1424,142
37,14237,142
Less accumulated depreciation6,8074,950
$30,335$32,192
Depreciation expense was $1,857 and $4,950 for the three months ended March 31, 2015 and the year ended December 31, 2014.

Goodwill

Goodwill3 Months Ended
Mar. 31, 2015
Goodwill [Abstract]
GOODWILLNOTE 4 – GOODWILL
The Company recorded goodwill of $54,500 on the purchase of Good Gaming Inc. The Company issued 5,000,000 shares of Company common stock at a value of $0.0175 per share for a value of $87,500. The Company also recorded $33,000 of equipment.

Notes_Payable

Notes Payable3 Months Ended
Mar. 31, 2015
Notes Payable [Abstract]
NOTES PAYABLENOTE 5 – NOTES PAYABLE
The Company issued Iconic Holdings, LLC. a convertible promissory note of principal amount of $50,000 on September 26, 2014. The note has an interest rate of 10% and is due September 29, 2015. The note is convertible into the Company’s common stock at a conversion price equal to 70% of the lowest trading price of the Company’s common stock during the 20 consecutive trading days prior to the date on which note holder elects to convert all or part of the note. The unamortized discount is $24,520. The net value of the note is $18,638. The outstanding balance at March 31, 2015 is $50,000.
On October 1, 2014 the Company sold a Convertible Debenture in the principle amount of $114,000 to Typenex Co-Investment, LLC. The principal amount includes an Original Issue Discount in the amount of $10,000. The Debenture bears interest at an annum rate of 10% and is payable in 5 equal installments that can be paid in cash or share of the Company’s common stock. The number of shares to be issued for installment payments made in the form of shares of the Company’s common stock, shall be calculated at70% of the average of the three closing prices in the 20 trading days prior to the date of conversion, of the Company’s common stock. The Note’s maturity date is August 1, 2015. The unamortized discount is $46,125. The net value of the note is $63,960. The outstanding balance at March 31, 2015 is $114,000.
On October 10, 2014 the Company sold a Convertible Debenture in the principal amount of $115,000 to KBM Investments LLC. The Principle amount includes an Original Issue Discount in the amount of $11,000 and investor fees in the amount of $4,000. Total net proceeds to the Company were $100,000. The Debenture bears interest at an annum rate of 8% and can be repaid at any time prior to the date of maturity. The prepayment penalty for such prepayment ranges from 8%-25% of the principal amount paid. On the 181st day from the date of the Note. The Note is convertible into shares of the Company’s common stock. The Rate of such conversion is 75% of the lowest 3 trading prices of the Company’s common stock during the ten trading days prior to the conversion date. The Note’s maturity date is October 8, 2015. The unamortized discount is $60,510. The net value of the note is $75,924. The outstanding balance at March 31, 2015 is $115,000.
On December 18, 2014 the Company entered into the Securities Purchase Agreement pursuant to which it sold an 8% convertible note of the Corporation, in the aggregate principle amount of $40,000 convertible into shares of the Company’s common stock to KBM Worldwide Inc. The Note is convertible into shares of the Company’s common stock. The Rate of such conversion is 75% of the lowest 3 trading prices of the Company’s common stock during the ten trading days prior to the conversion date. The note has a maturity date of December 18, 2015. The unamortized discount is $28,175. The net value of the note is $34,074. The outstanding balance at March 31, 2015 is $40,000.

Derivative_Liabilities

Derivative Liabilities3 Months Ended
Mar. 31, 2015
Derivative Liabilities [Abstract]
DERIVATIVE LIABILITIESNOTE 6 - DERIVATIVE LIABILITIES
The Company has a convertible instruments outstanding more fully described in Note 3.   In accordance with ASC 815-15 “Derivatives and Hedging”, the convertible share-settleable instruments are classified as liabilities.
Embedded Derivative Liabilities in Convertible Notes
During the three months ended March 31, 2015 and the year ended December 31, 2014, the Company recognized new derivative liabilities of $408,100 and $400,892, respectively, as a result of new convertible debt issuances.  The fair value of these derivative liabilities exceeded the principal balance of the related notes payable by $89,100 and $81,892 for the three months ended March 31, 2015 and the year ended December 31, 2014, respectively.  As a result of conversions of notes payable, the Company reclassified $0 and $0 from equity and $0 and $0 of derivative liabilities to equity during the three months ended March 31, 2015 and the year ended December 31 2014, respectively.  The Company recognized a loss of $84,454 and $74,679 on derivatives due to change in fair value of the liability during the three months ended March 31, 2015 and the year ended December 31, 2014, respectively. The fair value of the Company’s embedded derivative liabilities was $408,100 and $400,892 at March 31, 2015 and December 31, 2014, respectively.
  
Warrants 
Under ASC 815-15, the liabilities were subsequently measured at fair value at the end of each reporting period with the change in fair value recorded to earnings. The fair value of all outstanding warrants as of March 31, 2015 and December 31, 2014 was $56,371 and $51,622, respectively.  The Company recognized an expense of $40,501 and a gain $40,501 related to the warrants for the three months ended March 31, 2015 and the year ended December 31, 2014, respectively.
The following table summarizes the derivative liabilities included in the consolidated balance sheet:
  
Derivative Liabilities
Balance December 31, 2013$11,121
ASC 815-15 additions402,710
Change in fair value(1,818)
ASC 815-15 deletions(11,121)
Balance December 31, 2014400,892
ASC 815-15 additions-
Change in fair value7,208
ASC 815-15 deletions-
Balance March 31, 2015$408,100
The embedded conversion options in the Notes, which is accounted for separately as a derivative instrument is valued using a binomial lattice model because that model embodies all of the significant relevant assumptions that address the features underlying these instruments. Significant assumptions used in the model as of the date the Note was issued and as of March 31, 2015 included an expected life equal to the remaining term of the Note, an expected dividend yield of zero, estimated volatility ranging of 116%, and a risk-free rate of return of 0.13%. For the risk-free rates of return, we use the published yields on zero-coupon Treasury Securities with maturities consistent with the remaining term of the Note. Volatility is based upon our expected common stock price volatility over the remaining term of the Note. The volatility used for the Note is based on the Company’s 100-day volatility, which is considered a reasonable surrogate for the volatility to be expected over the life of the Note. That volatility has generally ranged from 116% to 146%.

Related_Party

Related Party3 Months Ended
Mar. 31, 2015
Related Party [Abstract]
RELATED PARTYNOTE 7 – RELATED PARTY
The Company issued to three former directors 2,000,000 shares of the Company’s common stock. 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 a term of 5 years. The board of directors approved a monthly salary for the Company CEO of $15,000 per month. Due to negative economic factors the Company has not made a payment since November 2014 and has recorded “Accrued Compensation” of $85,000 at March 31, 2015. Due to these same economic effects the Company’s subsidiary XA is currently using office space provided by the Company CEO’s daughter, Alexis Laken, on a rent free basis and she is employed as President of XA. On February 26, 2015 the Company borrowed $50,000 from Anita Laken, the CEO’s mother. The funds are due May 26, 2015.  On April 15, 2015 the Company borrowed $30,000 from the Company CEO.
An Assignment for the Benefit of Creditors(ABC) was done through a Trust Agreement and was executed on February 24, 2015 between two of our companies, XA and CMG Holdings, Inc. as fully described in notes 1 and 11.

Legal_Proceedings

Legal Proceedings3 Months Ended
Mar. 31, 2015
Legal Proceedings [Abstract]
LEGAL PROCEEDINGSNOTE 8 - 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.
On September 23, 2014, XA filed a lawsuit in the Supreme Court of the State of New York, County of New York against HG and its principals alleging wrongdoing by the defendants in connection with soliciting XA’s clients and seeking against further contact with XA clients. The Company conducted an internal investigation of actions taken by XA’s former employees during the quarter ended September 30, 2014. The Company and XA plan to complete the investigation, including recovering e-mails deleted by the former employees, and to vigorously pursue any and all amounts wrongfully taken from XA.
The investigation has been completed, an amended complaint will be filed on June 15, 2015. New counsel has been retained to pursue the prosecution of the case and the new counsels name is Lawrence Steckman of the firm Eaton and Van Winkle. There will be new defendant s added and the damages sought will be substantially increased
In October, 2014, Ronald Burkhardt, XA,s former Executive Chairman filed a lawsuit in the Supreme Court of the State of New York, County of New York, alleging breach of his employment contract and seeking approximately $695,000 in damages. The Company believes that Mr. Burkhardt’s claim is without merit and plans to vigorously defend the lawsuit.

Acquisition_of_Good_Gaming_Inc

Acquisition of Good Gaming, Inc.3 Months Ended
Mar. 31, 2015
Acquisition of Good Gaming, Inc [Abstract]
ACQUISITION OF GOOD GAMING, INC.NOTE 9 - ACQUISITION OF GOOD GAMING, INC.
On March 28, 2014, CMG Holdings, 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, the then 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. The transaction was completed under the purchase method of accounting.  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, of which $50,000 of the development costs had been advanced by the Company.  In addition, pursuant to the SEA, CMG shall adopt an incentive plan for GGI which shall entitle the GGI officers, directors and employees to receive up to 30% of the net profits of GGI and up to 30% of the proceeds, in the event of a sale of GGI or its assets.  The Company recorded goodwill of $54,500 as a result of this acquisition and intends to test this asset for impairment every twelve months.

Segments

Segments3 Months Ended
Mar. 31, 2015
Segments [Abstract]
SEGMENTSNOTE 10 - SEGMENTS 
The Company splits its business activities during the March 31, 2015 into three 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 three months ended March 31, 2015.
XAGood CMG Holdings GroupTotals
Gaming
Revenue$32,137$9,553$--$41,690
Operating expenses97,09017,77945,000159,869
Operating Income (Loss)(64,953)(8,226)(45,000)(118,179)
Other Income (Expense)----(144,340)(99,340)
Net Income (Loss)$(64,953)$(8,226)$(144,340)$(217,519)

Acqisition_or_Disposal_of_Asse

Acqisition or Disposal of Assets3 Months Ended
Mar. 31, 2015
Acqisition or Disposal of Assets [Abstract]
ACQISITION OR DISPOSAL OF ASSETSNOTE 11 – ACQISITION OR DISPOSAL OF ASSETS
On February 24, 2015, CMG Holdings Group, Inc.’s (the “Company”) subsidiary, XA, The Experiential Agency, Inc. (“XA”) having determined that it could no longer operate its business, as it was then constituted, decided to execute an assignment for the benefit of creditors to Tailwind Services LLC (“Tailwind”). An Assignment for the Benefit of Creditors is a method of liquidating a business. To that end a Trust Agreement and Assignment of Assets for the Benefit of Creditors was executed on February 24, 2015, transferring all of the assets of XA to Tailwind. Subsequently Tailwind advertised a sale of XA's assets to the Company for the approximate sum of $60,000 (the "Sale"). An Asset Purchase Agreement was executed between XA and the Company on March 4, 2015. The Sale of XA's assets to CMG was consummated on March 25, 2015. Only assets were purchased by CMG liabilities were not assumed. The assets consisted of, among other things, all personal property of XA including accounts receivable, the XA name and other general intangibles of XA, as well as a cause of action involving stolen services. The result of this transaction has our smaller XA segment still operating only as as part of CMG Hpldings, Inc. and not a seperate subsidiary.

Going_Concern

Going Concern3 Months Ended
Mar. 31, 2015
Going Concern [Abstract]
GOING CONCERNNOTE 12 – GOING CONCERN
As reported in the consolidated financial statements, the Company has an accumulated deficit as of March 31, 2015 and its current liabilities exceeded its current assets. There were recurring losses from operations and cash flows. There is a potential for this negative trend to continue.
These factors create uncertainty about the Company's ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable and to create operations that contribute capital from normal operations. If the Company cannot obtain adequate capital or revenue streams it could be forced to cease operations.

Subsequent_Events

Subsequent Events3 Months Ended
Mar. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTSNOTE 13 - SUBSEQUENT EVENTS
The Company has evaluated events subsequent through the date these financial statements have been issued to assess the need for potential recognition or disclosure in this report. Such events were evaluated through the date these financial statements were available to be issued. Based upon this evaluation, it was determined that no subsequent events occurred that require recognition or disclosure in the financial statements, accept the following:
Due to the economic conditions, on April 15, 2015 the Company borrowed $30,000 from the Company CEO in order to pay ongoing expenses.

Description_of_Business_and_Su1

Description of Business and Summary of Significant Accounting Policies (Policies)3 Months Ended
Mar. 31, 2015
Description of Business and Summary of Significant Accounting Policies [Abstract]
Business ActivityBusiness Activity
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 and changed its legal name to Creative Management Group Inc.  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 entered into an Agreement and Plan of Reorganization with its controlling shareholder, Creative Management Group, Inc., a privately held Delaware corporation. Upon closing the eighty shareholders of Creative Management Group delivered all of their equity interests in Creative Management Group to Pebble Beach in exchange for shares of common stock in Pebble Beach owned by Creative Management Group, as a result of which Creative Management Group became a wholly-owned subsidiary of Pebble Beach. The shareholders of Creative Management Group received one share of Pebble Beach’s common stock previously owned by Creative Management Group for each issued and outstanding common share owned of Creative Management Group. As a result, the 22,135,148 shares of Pebble Beach that were issued and previously owned by Creative Management Group, are now owned directly by its shareholders. The 22,135,148 shares of Creative Management Group previously owned by its shareholders are now owned by Pebble Beach, thereby making Creative Management Group a wholly-owned subsidiary of Pebble Beach. Pebble Beach did not issue any new shares as part of the Reorganization. The transaction was accounted for as a reverse merger and recapitalization whereby Creative Management Group is the accounting acquirer. Pebble Beach was renamed CMG Holdings Group, Inc.
On April 1, 2009, the Company, through a newly formed wholly owned 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 the final Stock Purchase Agreement under which the Company acquired all of the outstanding capital stock of AudioEye. On June 22, 2011 the Company entered into a Master Agreement subject to shareholder approval as may be required under applicable law and subject to 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; on October 2012, the Company distributed to its shareholders, in the form of a dividend, 5% of the capital stock of AudioEye in accordance with provisions of the Master Agreement.
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, the then 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. As of September 30, 2014, the Company has paid $58,600 of equipment and consultant compensation and $190,550 in development costs, of which $50,000 of the development costs had been advanced by the Company, prior to entering the agreement. In addition, pursuant to the SEA, CMG shall adopt an incentive plan for GGI which shall entitle the GGI officers, directors and employees to receive up to 30% of the net profits of GGI and up to 30% of the proceeds, in the event of a sale of GGI or its assets.
An Assignment for the Benefit of Creditors(ABC) was done through a Trust Agreement and was executed on February 24, 2015, transferring all of the assets of our subsidiary XA to a trust which subsequently advertised a sale of XA's assets. CMG Holdings, Inc. purchased the assets for the approximate sum of $60,000 (the "Sale").An Asset Purchase Agreement was initially executed between XA and the Company on March 4, 2015. The Sale of XA's assets to CMG was fully consummated on March 25, 2015. Only assets were purchased by CMG liabilities were not assumed. The assets consisted of, among other things, all personal property of XA including accounts receivable, the XA name and other general intangibles of XA, as well as a cause of action involving stolen services.
Principles of ConsolidationPrinciples of Consolidation
The consolidated financial statements include the accounts of CMG Holdings Group, Inc., XA, The Experiential Agency, Inc. ("XA") and GGI after elimination of all significant inter-company accounts and transactions.
Use of EstimatesUse of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the period reported. Estimates are used when accounting for allowance for doubtful accounts, depreciation, and contingencies. Actual results could differ from those estimates.
Concentrations of RiskConcentrations of Risk
Financial Institutions - The Company maintains its cash balances at two financial institutions where they are insured by the Federal Deposit Insurance Corporation up to $250,000 each. At September 30, 2014 and December 31, 2013, neither of these accounts was in excess of the limit. The Company also maintains a money market investment account at one securities firm where the account is insured by the Securities Investor Protection Corporation up to $500,000 for the bankruptcy, etc., of the securities firm. At December 31and 2013, the account did not have a balance in excess of the limit.
Sales and Accounts ReceivableSales and Accounts Receivable – For three months ended March 31, 2015and the year ended December 31, 2014, one customer accounts for 93% and 93% of the Company’s total revenues, respectively.
Revenue and Cost RecognitionRevenue and Cost Recognition
The Company earns revenues by providing event management services under individually negotiated contracts with varying terms, recognizing revenue in accordance with ASC 605, Revenue Recognition, only when the price is fixed or determinable, persuasive evidence of an arrangement exists, the services have been provided and collectability is assured.   In arrangements where key indicators suggest the Company acts as principal, the Company records the gross amount billed to the client as revenue and the related costs incurred as cost of revenues as the services are provided.
Accounts Receivable and Allowance for Doubtful AccountsAccounts Receivable and Allowance for Doubtful Accounts
Accounts receivable are amounts due from event management services, are unsecured and are carried at their estimated collectible amounts. Credit is generally extended on a short-term basis and do not bear interest, although a finance charge may be applied to amounts outstanding more than thirty days. Accounts receivable are periodically evaluated for collectability based on past credit history with clients. Provisions for losses on accounts receivable are determined on the basis of loss experience, known and inherent risk in the account balance and current economic conditions.  There were no allowances for doubtful accounts as of December 31, 2014 and 2013.
Share-Based CompensationShare-Based Compensation
The Company accounts for share-based compensation to employees in accordance with Accounting Standards Codification subtopic 718-10, Stock Compensation (“ASC 718-10”) and share-based compensation to non-employees in accordance with ASC 505-50 Accounting for Equity Instruments Issued to Non-Employees for Acquiring, or in Conjunction with Selling, Goods or Services. ASC 718-10 and 505-50 require the measurement and recognition of compensation expense for all share-based payment awards, including stock options based on the estimated fair values.
Derivative InstrumentsDerivative Instruments
We generally do not use derivative financial instruments to hedge exposures to cash-flow risks or market-risks. However, certain financial instruments, such as warrants and the embedded conversion features of our convertible promissory notes and debentures, which are indexed to our common stock, are classified as liabilities when either (a) the holder possesses rights to net-cash settlement or (b) physical or net-share settlement is not within our control. In such instances, net-cash settlement is assumed for financial accounting and reporting purposes, even when the terms of the underlying contracts do not provide for net-cash settlement. Derivative financial instruments are initially recorded, and continuously carried, at fair value.
Determining the fair value of these complex derivative financial instruments involves judgment and the use of certain relevant assumptions including, but not limited to, interest rates, volatility and conversion and redemption privileges. The use of different assumptions could have a material effect on the estimated fair value amounts.
The Company accounts for derivative instruments in accordance with ASC Topic 815, Derivatives and Hedging, and all derivative instruments are reflected as either assets or liabilities at fair value in the balance sheet.
The Company uses estimates of fair value to value its derivative instruments. Fair value is defined as the price to sell an asset or transfer a liability in an orderly transaction between willing and able market participants. In general, the Company’s policy in estimating fair values is to first look at observable market prices for identical assets and liabilities in active markets, where available. When these are not available, other inputs are used to model fair value such as prices of similar instruments, yield curves, volatilities, prepayment speeds, default rates and credit spreads (including for the Company’s liabilities), relying first on observable data from active markets. Additional adjustments may be made for factors including liquidity, credit, bid/offer spreads, etc., depending on current market conditions. Transaction costs are not included in the determination of fair value. When possible, The Company seeks to validate the model’s output to market transactions. Depending on the availability of observable inputs and prices, different valuation models could produce materially different fair value estimates. The values presented may not represent future fair values and may not be realizable. The Company categorizes its fair value estimates in accordance with ASC 820, Fair Value Measurements (ASC 820), based on the hierarchical framework associated with the three levels of price transparency utilized in measuring financial instruments.
Cash and Cash EquivalentsCash and Cash Equivalents
For purposes of the statement of cash flows, the Company considers all short-term debt securities purchased with maturity of three months or less to be cash equivalents.
Property and EquipmentProperty and Equipment
Property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the respective assets, which is generally between three and five years. Depreciation expense was $1,857 and $0 for the three months ended March 31, 2015 and 2014, respectively.
Intangible AssetsIntangible Assets
Intangible assets are stated at cost, net of accumulated amortization.
Income TaxesIncome Taxes
The Company accounts for income taxes using the asset and liability approach. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amounts expected to be realized.  Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
Basic and Diluted Net Loss per ShareBasic and Diluted Net Loss per Share
The Company computes net loss per share in accordance with ASC 260, Earnings Per Share, which requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.
Recently Issued Accounting PronouncementsRecently 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 accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.
Fair Value MeasurementsFair Value Measurements
ASC 820 and ASC 825, Financial Instruments (ASC 825), requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. It establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. It prioritizes the inputs into three levels that may be used to measure fair value:
Level 1 – Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities and listed equities.
Level 2 – Pricing inputs are other than quoted prices in active markets included in level 1, which are either directly or indirectly observable as of the reported date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors, and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Instruments in this category generally include non-exchange-traded derivatives such as commodity swaps, interest rate swaps, options and collars.
Level 3 – Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value.
  
The Company’s financial instruments consist principally of cash, accounts receivable, accounts payable and accrued liabilities. Pursuant to ASC 820 and 825, the fair value of cash is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.
The following table sets forth by level with the fair value hierarchy the Company’s financial assets and liabilities measured at fair value on March 31, 2015 and December 31, 2014:
  
31-Mar-15Level 1Level 2Level 3Total
Derivative Liabilities$-$-$408,100$408,100
31-Dec-14Level 1Level 2Level 3Total
Derivative Liabilities$-$-$400,892$400,892
Investments in Debt and Equity SecuritiesInvestments in Debt and Equity Securities
The Company applies the provisions of Accounting Standards Codification 320, Investments – Debt and Equity Securities, regarding marketable securities. The Company invests in securities that are intended to be bought and held principally for the purpose of selling them in the near term, and as a result, classifies such investments as trading securities. Trading securities are recorded at fair value on the balance sheet with changes in fair value being reflected as unrealized gains or losses in the current period. In addition, the Company classifies the cash flows from purchases, sales, and maturities of trading securities as cash flows from operating activities.
Details of the Company's marketable trading securities as of March 31, 2015 and December 31, 2014 are as follows:
March 31,December 31, 
20152014
Aggregate fair value$-$-
Gross unrealized holding gains (losses)--
Proceeds from sales$-$850,470
Gross realized gains-86,382
Gross realized losses--
Other than temporary impairment--

Description_of_Business_and_Su2

Description of Business and Summary of Significant Accounting Policies (Tables)3 Months Ended
Mar. 31, 2015
Description of Business and Summary of Significant Accounting Policies [Abstract]
Schedule of fair value hierarchy of financial assets and liabilities  
31-Mar-15Level 1Level 2Level 3Total
Derivative Liabilities$-$-$408,100$408,100
31-Dec-14Level 1Level 2Level 3Total
Derivative Liabilities$-$-$400,892$400,892
Schedule of marketable trading securities  
March 31,December 31, 
20152014
Aggregate fair value$-$-
Gross unrealized holding gains (losses)--
Proceeds from sales$-$850,470
Gross realized gains-86,382
Gross realized losses--
Other than temporary impairment--

Equity_Tables

Equity (Tables)3 Months Ended
Mar. 31, 2015
Equity [Abstract]
Summary of warrant activityOutstanding Weighted average 
and ExercisableExercise Price
31-Dec-131,798,000$0.28
Granted40,000,000$0.016
Exercised--
Expired(1,798,000)
31-Dec-1440,000,000$0.02
Granted
Exercised
Expired
31-Mar-1540,000,0000.0021

Property_and_Equipment_Tables

Property and Equipment (Tables)3 Months Ended
Mar. 31, 2015
Property and Equipment [Abstract]
Summary of property and equipment31-Mar-1431-Dec-14
Equipment$33,000$33,000
Leasehold Improvements4,1424,142
37,14237,142
Less accumulated depreciation6,8074,950
$30,335$32,192

Derivative_Liabilities_Tables

Derivative Liabilities (Tables)3 Months Ended
Mar. 31, 2015
Derivative Liabilities [Abstract]
Summary of derivative liabilities included in the consolidated balance sheetDerivative Liabilities
Balance December 31, 2013$11,121
ASC 815-15 additions402,710
Change in fair value(1,818)
ASC 815-15 deletions(11,121)
Balance December 31, 2014400,892
ASC 815-15 additions-
Change in fair value7,208
ASC 815-15 deletions-
Balance March 31, 2015$408,100

Segments_Tables

Segments (Tables)3 Months Ended
Mar. 31, 2015
Segments [Abstract]
Schedule of segment reporting information, by segmentXAGood CMG Holdings GroupTotals
Gaming
Revenue$32,137$9,553$--$41,690
Operating expenses97,09017,77945,000159,869
Operating Income (Loss)(64,953)(8,226)(45,000)(118,179)
Other Income (Expense)----(144,340)(99,340)
Net Income (Loss)$(64,953)$(8,226)$(144,340)$(217,519)

Description_of_Business_and_Su3

Description of Business and Summary of Significant Accounting Policies (Details) (USD $)Mar. 31, 2015Dec. 31, 2014
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative liabilities$408,100 $400,892
Level 1 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative liabilities    
Level 2 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative liabilities    
Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative liabilities$408,100 $400,892

Description_of_Business_and_Su4

Description of Business and Summary of Significant Accounting Policies (Details 1) (USD $)3 Months Ended12 Months Ended
Mar. 31, 2015Mar. 31, 2014Dec. 31, 2014
Description of Business and Summary of Significant Accounting Policies [Abstract]
Aggregate fair value    
Gross unrealized holding gains (losses)  2,456  
Proceeds from sales  250,000850,470
Gross realized gains  193,48786,382
Gross realized losses    
Other than temporary impairment    

Description_of_Business_and_Su5

Description of Business and Summary of Significant Accounting Policies (Details Textual) (USD $)0 Months Ended1 Months Ended3 Months Ended12 Months Ended0 Months Ended1 Months Ended
Jun. 22, 2011Sep. 30, 2014Mar. 31, 2015Dec. 31, 2014Dec. 31, 201327-May-08Mar. 28, 2014Feb. 24, 2015Feb. 20, 2008
Description of Business and Summary of Significant Accounting Policies (Textual)
Common Stock, shares issued289,329,190289,329,190
Development costs$190,550
Allowance for doubtful accounts receivable0
Depreciation expense1,857  
Insured amount in each financial institution, Federal Deposit Insurance Corporation250,000250,000
Retained percentage of transfer restrictions15.00%
Property, plant and equipment, estimated useful livesThree and five years
Percentage of dividends distributed5.00%
Insured amount, Securities Investor Protection Corporation500,000
Sale of XA's assets60,000
Sales Revenue, Net [Member]
Description of Business and Summary of Significant Accounting Policies (Textual)
Concentration risk, percentage93.00%93.00%
Number of customer11
Pebble Beach Enterprises, Inc [Member]
Description of Business and Summary of Significant Accounting Policies (Textual)
Percentage of equity interest acquired92.60%
Number of shares issued to acquire22,135,148
Audio Eye Inc [Member]
Description of Business and Summary of Significant Accounting Policies (Textual)
Percentage of stock issued for exchange of stock80.00%
Audio Eye Acquisition Corp [Member]
Description of Business and Summary of Significant Accounting Policies (Textual)
Percentage of stock issued for exchange of stock100.00%
GGI [Member]
Description of Business and Summary of Significant Accounting Policies (Textual)
Common Stock, shares issued5,000,000
Development costs50,000200,000
Percentage of stock issued for exchange of stock100.00%
Share exchange agreement descriptionCMG shall adopt an incentive plan for GGI which shall entitle the GGI officers, directors and employees to receive up to 30% of the net profits of GGI and up to 30% of the proceeds, in the event of a sale of GGI or its assets.
Equipment and consultant compensation cost$58,600 $33,000

Equity_Details

Equity (Details) (Warrant [Member], USD $)3 Months Ended12 Months Ended
Mar. 31, 2015Dec. 31, 2014
Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding and Exercisable, Beginning balance40,000,0001,798,000
Outstanding and Exercisable, Granted  40,000,000
Outstanding and Exercisable, Exercised    
Outstanding and Exercisable, Expired  -1,798,000
Outstanding and Exercisable, Ending balance40,000,00040,000,000
Weighted average Exercise Price, Beginning balance$0.02 $0.28
Weighted average Exercise Price, Granted  $0.02
Weighted average Exercise Price, Exercised    
Weighted average Exercise Price, Expired    
Weighted average Exercise Price, Ending balance$0.00 $0.02

Equity_Details_Textual

Equity (Details Textual) (USD $)0 Months Ended3 Months Ended1 Months Ended0 Months Ended1 Months Ended
Apr. 07, 2014Mar. 31, 2015Aug. 31, 20139-May-14Jan. 29, 2014Jun. 30, 2014Mar. 28, 2014Dec. 31, 2014Dec. 31, 2013
AnimatedCels
Equity (Textual)
Shares issued pursuant to acquisition of subsidiary, shares5,000,000
Stock issued during period of acquisition$87,500
Convertible notes payable    
Share price$0.02 $0.02
Remaining contractual term of warrants5 years
Warrant to purchase of common stock40,000,000
Common stock exercise price$0.02
Continental Investments Group, Inc [Member]
Equity (Textual)
Number of acquired cartoon animated cels20,000
Restricted common stock2,500,000
Convertible notes payable85,000
Restricted stock cancelled2,500,000
Convertible note cancellation85,000
Series B Convertible Preferred Stock [Member]
Equity (Textual)
Preferred stock, shares issued050,0000
Common Stock [Member]
Equity (Textual)
Shares issued pursuant to acquisition of subsidiary, shares5,000,0005,000,000
Stock issued during period of acquisition87,500
Shares issued for services, shares6,000,000
New stock issued during the period, Shares522,0001,500,000
New stock issued during the period,Value8,613
Proceeds from sale of shares15,000
Sale of Stock, price per share$0.01
Share price$0.02 $0.02
Cancellation of common stock7,350,000
Common Stock [Member] | Three Officers [Member]
Equity (Textual)
Shares issued for services, shares2,000,000
Warrant [Member]
Equity (Textual)
Weighted average remaining contractual term4 years 5 months 5 days
Warrants aggregate intrinsic value$0

Property_and_Equipment_Details

Property and Equipment (Details) (USD $)Mar. 31, 2015Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property and equipment, Gross$37,142 $37,142
Less accumulated depreciation6,8074,950
Property and equipment, net30,33532,192
Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross33,00033,000
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross$4,142 $4,142

Property_and_Equipment_Details1

Property and Equipment (Details Textual) (USD $)3 Months Ended12 Months Ended
Mar. 31, 2015Dec. 31, 2014
Property and Equipment (Textual)
Depreciation expense$1,857   

Goodwill_Details

Goodwill (Details) (USD $)3 Months Ended
Mar. 31, 2015Dec. 31, 2014
Goodwill (Textual)
Goodwill$54,500 $54,500
Shares issued pursuant to acquisition of subsidiary, shares5,000,000
Stock issued during period of acquisition87,500
Shares issued, price per share$0.02
Equipment$33,000

Notes_Payable_Details

Notes Payable (Details) (USD $)0 Months Ended1 Months Ended0 Months Ended
Oct. 10, 2014Sep. 26, 2014Dec. 18, 2014Oct. 01, 2014Mar. 31, 2015
Installment
Notes Payable (Textual)
Convertible promissory note$50,000
Convertible debt, Interest rate10.00%
Debt instrument, Maturity date29-Sep-15
Debt conversion, DescriptionThe note is convertible into the Company's common stock at a conversion price equal to 70% of the lowest trading price of the Company's common stock during the 20 consecutive trading days prior to the date on which note holder elects to convert all or part of the note.
Unamortized discount24,520
Principal amount of the note18,638
Sale of convertible debenture100,000
Outstanding balance50,000
Securities Purchase Agreement [Member]
Notes Payable (Textual)
Convertible promissory note40,000
Convertible debt, Interest rate8.00%
Debt instrument, Maturity date18-Dec-15
Debt conversion, DescriptionThe Rate of such conversion is 75% of the lowest 3 trading prices of the Company's common stock during the ten trading days prior to the conversion date.
Unamortized discount28,175
Principal amount of the note34,074
Outstanding balance40,000
Typenex Co-Investment LLC [Member]
Notes Payable (Textual)
Convertible debt, Interest rate10.00%
Debt instrument, Maturity date1-Aug-15
Debt conversion, Description70% of the average of the three closing prices in the 20 trading days prior to the date of conversion, of the Company's common stock.
Unamortized discount46,125
Principal amount of the note63,960
Sale of convertible debenture114,000
Outstanding balance114,000
Original issue discount10,000
Number of installments5
KBM Investments LLC [Member]
Notes Payable (Textual)
Convertible debt, Interest rate8.00%
Debt instrument, Maturity date8-Oct-15
Debt conversion, DescriptionOn the 181st day from the date of the Note. The Note is convertible into shares of the Company's common stock. The Rate of such conversion is 75% of the lowest 3 trading prices of the Company's common stock during the ten trading days prior to the conversion date.
Unamortized discount60,510
Principal amount of the note75,924
Sale of convertible debenture115,000
Investor fee4,000
Outstanding balance115,000
Original issue discount$11,000
KBM Investments LLC [Member] | Minimum [Member]
Notes Payable (Textual)
Prepayment rate on principal amount8.00%
KBM Investments LLC [Member] | Maximum [Member]
Notes Payable (Textual)
Prepayment rate on principal amount25.00%

Derivative_Liabilities_Details

Derivative Liabilities (Details) (USD $)3 Months Ended12 Months Ended
Mar. 31, 2015Dec. 31, 2014
Derivative Liabilities [Abstract]
Derivative Liabilities, Beginning balance$400,892 $11,121
ASC 815-15 additions  402,710
Change in fair value7,208-1,818
ASC 815-15 deletions  -11,121
Derivative Liabilities, Ending balance$408,100 $400,892

Derivative_Liabilities_Details1

Derivative Liabilities (Details Textual) (USD $)3 Months Ended12 Months Ended
Mar. 31, 2015Dec. 31, 2014
Derivative Liabilities (Textual)
Derivative Liabilities$408,100 $400,892
Notes Payable89,10081,892
Notes payable convertible reclassified from equity00
Reclassified derivative liabilities to equity00
(Gain) loss on derivatives84,45474,679
Fair value of embedded derivative liabilities408,100400,892
Fair value all warrants outstanding56,37151,622
Gain (loss) related to warrant$40,501 $40,501
Expected dividend0.00%
Expected volatility rate116.00%
Risk free interest rate0.13%
Minimum [Member]
Derivative Liabilities (Textual)
Expected volatility rate116.00%
Maximum [Member]
Derivative Liabilities (Textual)
Expected volatility rate146.00%

Related_Party_Details

Related Party (Details) (USD $)1 Months Ended0 Months Ended3 Months Ended1 Months Ended
Sep. 26, 2014Apr. 15, 2015Mar. 31, 2015Feb. 26, 2015
Directors
Related Party (Textual)
Due date29-Sep-15
Subsequent Event [Member]
Related Party (Textual)
Borrowed from company CEO$30,000
Director [Member]
Related Party (Textual)
Number of former directors3
Common stock issued to directors2,000,000
CEO [Member]
Related Party (Textual)
Warrant to purchase common stock40,000,000
Exercise price of warrants0.0155
Term of warrant5 years
Monthly salary to CEO15,000
Accrued compensation85,000
CEO's Mother [Member]
Related Party (Textual)
Borrowed from company CEO$50,000
Due date26-May-15

Legal_Proceedings_Details

Legal Proceedings (Details) (USD $)3 Months Ended
Mar. 31, 2015
Legal Proceedings (Textual)
Damages$695,000

Acquisition_of_Good_Gaming_Inc1

Acquisition of Good Gaming, Inc. (Details) (USD $)1 Months Ended
Sep. 30, 2014Mar. 28, 2014Mar. 31, 2015Dec. 31, 2014
Acquisition of Good Gaming, Inc (Textual)
Common stock, shares, issued289,329,190289,329,190
Development costs$190,550
GGI [Member]
Acquisition of Good Gaming, Inc (Textual)
Percentage of equity interest acquired100.00%
Business acquisition liability to pay200,000
Business acquisition goodwill acquired54,500
Business acquisition, description of GGIThe 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, of which $50,000 of the development costs had been advanced by the Company.
Common stock, shares, issued5,000,000
Development costs50,000
Business acquisition purchase method descriptionIn addition, pursuant to the SEA, CMG shall adopt an incentive plan for GGI which shall entitle the GGI officers, directors and employees to receive up to 30% of the net profits of GGI and up to 30% of the proceeds, in the event of a sale of GGI or its assets.
Equipment and consultant compensation cost$33,000
Period of goodwill impairment12 months

Segments_Details

Segments (Details) (USD $)3 Months Ended
Mar. 31, 2015Mar. 31, 2014
Segment Reporting Information [Line Items]
Revenue$41,690 $1,554,748
Operating expenses159,8691,775,280
Operating Income (Loss)-118,179-220,532
Other Income (Expense)-99,340199,559
Net Income (Loss)-217,519-20,973
XA [Member]
Segment Reporting Information [Line Items]
Revenue32,137
Operating expenses97,090
Operating Income (Loss)-64,953
Other Income (Expense)  
Net Income (Loss)-64,953
Good Gaming [Member]
Segment Reporting Information [Line Items]
Revenue9,553
Operating expenses17,779
Operating Income (Loss)-8,226
Other Income (Expense)  
Net Income (Loss)-8,226
CMG Holdings Group [Member]
Segment Reporting Information [Line Items]
Revenue  
Operating expenses45,000
Operating Income (Loss)-45,000
Other Income (Expense)-144,340
Net Income (Loss)($144,340)

Segments_Details_Textual

Segments (Details Textual)3 Months Ended
Mar. 31, 2015
Segment
Segments [Abstract]
Number of reportable segments3

Acqisition_or_Disposal_of_Asse1

Acqisition or Disposal of Assets (Details) (USD $)Feb. 24, 2015
Acqisition or Disposal of Assets [Abstract]
Sale of XA's assets$60,000

Subsequent_Events_Details

Subsequent Events (Details) (Subsequent Event [Member], USD $)0 Months Ended
Apr. 15, 2015
Subsequent Event [Member]
Subsequent Event [Line Items]
Borrowed from company CEO$30,000