UMAX Profile

OUR NEW PROFILE IS:   UMAX

UMAX Group Corp. - logo.png

UMAX IS NOW A REVENUE GENERATING COMPANY AFTER RECENT ACQUISITIONS

UMAX operates a state-of-the-art 6,000-sq.ft. facility in Downtown Los Angeles that has become a one-stop shop for live comedy shows. 

UMAX Builds a State-of-the-Art Recording Studio in Downtown Los Angeles Location

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Good Morning Traders,

We have something exciting for today that we want you to look out.

The company has strong news in play this morning.

Pull up UMAX immediately.

Media companies produce and distribute films, television series, music, books, news, and radio programming. We’re consuming more and more of their offerings control_room.jpgevery year. The proliferation of mobile devices and digital media organizations has greatly increased screen time over the past decade, and the coronavirus pandemic has only accelerated that trend. Americans now spend more than 13 hours per day consuming or interacting with some form of media as the use of connected TV and mobile devices continues to grow.

Companies with a strong foothold in digital media keep expanding their consumer engagement, while legacy businesses heavily reliant on older media formats are struggling.

One company making a name for itself in this rapidly growing sector is UMAX Group Corp. (UMAX).

Since the acquisition of Funny Media Group in May 2021, UMAX has now fully transitioned into comedy development as the vehicle to achieve a cash-flow positive operation and to provide the best return on shareholder’s investment.

The short-term goal is to produce content for streaming services like Netflix and Amazon with the long-term goal being to build a large enough media catalog that any of the current streaming services would be interested in acquiring. Funny Media’s social media sites are as follows:

Web Site: https://www.FunnyMediaGroup.comInstagram: https://www.instagram.com/funnymediagroupofficial/?hl=enYouTube: https://www.youtube.com/watch?v=bbv-T0DNjMM

UMAX Group Corp. – Completion of the Full Acquisition of Funny Media Group

LOS ANGELES, CA / ACCESSWIRE / April 14, 2022 / UMAX Group Corp. (the “Company” or “UMAX” – Pink Sheets Alternative Reporting Pink: UMAX) – UMAX would like to announce that it has now completed the full acquisition of Funny Media Group, LLC (“Funny Media Group”), a Wyoming limited liability company, which is a Los Angeles based, talent agency and full-scale media production company that specializes in the development of comedy shows and music videos and albums.

Mr. Fletcher stated” Acquiring the balance of the ownership equity of Funny Media Group was a smart move we have been considering since the Company initially purchase controlling interest. The library of comedic content that Funny Media Group continues to develop will only increase in value as its operations moves forward. In passing, this new transaction we completed was completed exactly like the initial transaction in May 2021 by using the use of our Series “B” Preferred Stock to not immediately dilute our Common Stock stockholders. It also contains the same contractual rider which states that the Series B Preferred Stock to be issued cannot be converted to the Common Stock of the Company for a period of two calendar years or Funny Media Group has four profitable consecutive quarters, whichever comes first. The purpose of this contractual rider is to guarantee that the holders of the Series B Preferred Stock from this acquisition cannot convert to common stock, which will dilute ownership of the current shareholders of the Company, until the subsidiary has added significantly to the top line revenue and is cash flow positive to UMAX which should allow for a stronger market capitalization.”

In May of 2019, UMAX acquired operating control of Funny Media Group pursuant to an equity exchange agreement whereby it acquired 51.5% its outstanding equity in exchange for 5,000,000 shares of Series B, Preferred Stock of the Company. On April 13, 2022, the Company acquired the remaining 48.5% of Funny Media Group for an additional 1,000,000 shares of Series B, Preferred Stock of the Company making it a wholly owned subsidiary.

Mr. Fletcher (President and CEO of the Company), further states” With the fiscal year end approaching for the Company on April 30th, we have decided to aggressively pursue various acquisitions to assist in the growth of our asset base and top line revenue over the coming year. With that said, we are currently starting negotiations to purchase the land and building on our Bay Avenue corporate headquarters in Los Angeles, California, which also houses our other subsidiary, Funny Media Studios, Inc. (“Funny Media Studios”). You can see the facility layout, equipment, and other amenities at the website for Funny Media Group. We anticipate the final purchase price for the Bay Avenue location to be between $2,000,000 USD to $3,000,000 USD. Hopefully we will be announcing this purchase some time in the next thirty to forty-five days. Our ultimate plan is to build a Company will both a strong balance sheet and income statement so that our market capitalization will grow accordingly for the benefit of our fellow shareholders.”

UMAX GROUP CORP. – Funny Media Group Builds a State-of-the-Art Recording Studio in Downtown Los Angeles Location

LOS ANGELES, CA / ACCESSWIRE / February 1, 2022 / UMAX Group Corp. (OTC PINK:UMAX), a Nevada corporation, has built a state-of-the-art recording studio in its Downtown Los Angeles location, expanding the footprint of its subsidiary, Funny Media Group.

“We know that there’s a natural synergy between the things we are doing in comedy and the music business,” said Rondell Fletcher, UMAX President and CEO. “We are looking forward to using this new studio to complement our efforts in comedy.” Screen Shot 2016-08-22 at 9.50.32 PM.png

After the acquisition of Funny Media Group in May 2021, UMAX has now fully transitioned into comedy development as the vehicle to achieve a cash-flow positive operation and to provide the best return on shareholder’s investment.

In the new recording studio, Mr. Fletcher has recruited a top Colombian DJ, Jay Rico, 26, to produce content and score projects.

“Jay is one of the most talented young producers we’ve ever seen,” Mr. Fletcher said.”The studio itself features the best gear in the industry,” Mr. Fletcher said, with names like Universal Audio, SSL, Neumann, Antares, Tube-Tech, Apple and many others. “There’s nothing we can’t do in this studio,” Mr. Fletcher said.

Also, in this 6,000-sq.ft. location, Funny Media Group is prepping for Season 2 of comedy shows, starting in March.

“There’s a lot of opportunity to create content in this facility,” Mr. Fletcher said.

Mr. Fletcher has an extensive background in production and media. He has owned his own production studio in Los Angeles for the past 20 years and has produced national shows for CNN, FOX, Food Network and Comedy Central, among others.

The short-term goal for Funny Media Group is to produce content for streaming services such as Netflix and Amazon with the long-term goal of building a large media catalog for acquisition.

UMAX GROUP CORP. – Funny Media Group Signs Distribution Deal with VYRE Network for “Huge” Comedy Streaming Deal

LOS ANGELES, CA / ACCESSWIRE / March 14, 2022 / UMAX Group Corp. (OTC PINK:UMAX), a Nevada corporation, has announced that its subsidiary, Funny Media Group (“FMG”), has signed a deal with VYRE Network to distribute Season 1 of FMG’s comedy specials-more than 200 shows in all.

“This is fantastic news for Funny Media Group and all of the comedians who joined us for Season 1,” said UMAX President and CEO Rondell Fletcher. “VYRE has an amazing platform that will bring our comedy content to a global audience. This is huge for us.”

Vyre Network is a global digital distribution multi-platform service that licenses, live streams, and produces a vast catalog of exclusive content for streaming entertainment. VYRE’s deep distribution includes Apple TV, Roku, Amazon Firestick, and Samsung.

Vyre Network Web Site: https://vyrenetwork.com/

“This is another step in VYRE taking comedy to the next level,” said David Hill, VYRE President. “We are excited to work with Funny Media Group. Rondell is a forward thinker and it shows in everything Funny Media Group is doing.”

After the acquisition of Funny Media Group in May 2021, UMAX has now fully transitioned into comedy development as the vehicle to achieve a cash-flow positive operation and to provide the best return on shareholder’s investment.

Fletcher oversaw the production of 200 comedy specials for Season 1, and Season 2 begins taping in a few weeks. So far, 50 of the 200 shows have hit YouTube, resulting in more than 2 million views.

“We have built a pipeline of comedy specials that is attracting attention in the industry, and a significant audience on YouTube,” Mr. Fletcher says. “VYRE will help us reach millions more.”

The shows are filmed in the Comedy Cube, Funny Media Group’s state-of-the-art facility in downtown Los Angeles. Shows are released on Mondays, Wednesdays, and Fridays.

Mr. Fletcher has an extensive background in production and media. He has owned his own production studio in Los Angeles for the past 20 years and has produced national shows for CNN, FOX, Food Network and Comedy Central, among others.

The short-term goal for Funny Media Group is to produce content for streaming services such as Netflix and Amazon with the long-term goal of building a large media catalog for acquisition.

UMAX GROUP CORP. – Funny Media Group Records 2M YouTube Milestone in Only 50 Shows. youtube-milestones

LOS ANGELES, CA / ACCESSWIRE / February 24, 2022 / UMAX Group Corp. (OTC PINK:UMAX), a Nevada corporation, continues to release comedy specials under its Funny Media Group subsidiary and recently hit 2 million YouTube views in only 50 shows.

After the acquisition of Funny Media Group in May 2021, UMAX has now fully transitioned into comedy development as the vehicle to achieve a cash-flow positive operation and to provide the best return on shareholder’s investment.

Rondell Fletcher (UMAX President and CEO) says 200 total shows have been recorded, with 150 remaining to be released.

“We are continuing excellent growth, and grabbing a significant audience,” Mr. Fletcher says.

Season 2 of comedy shows will start taping March 1, 2022, Mr. Fletcher said.

The shows are filmed in the Comedy Cube, Funny Media Group’s state-of-the-art facility in downtown Los Angeles. Shows are released on Mondays, Wednesdays, and Fridays.

Mr. Fletcher has an extensive background in production and media. He has owned his own production studio in Los Angeles for the past 19 years and has produced national shows for CNN, FOX, Food Network and Comedy Central, among others.

The short-term goal for Funny Media Group is to produce content for streaming services such as Netflix and Amazon with the long-term goal of building a large media catalog for acquisition.

 

UMAX GROUP CORP. – UMAX Announces Acquisition of Funny Media Studios

LAS VEGAS, NV / ACCESSWIRE / January 14, 2022 / UMAX Group Corp. (OTC PINK:UMAX), a Nevada corporation, has announced the acquisition of a California corporation, Funny Media Studios (“FMS”), a full-scale production studio with crew, equipment, and a shoot-ready soundstage in Los Angeles.

Rondell Fletcher (UMAX President and CEO) says that FMS will become a majority-owned subsidiary of the Company. Similar to the acquisition of Funny Media Group, LLC (“FMG”) in May 2021, the Company negotiated the acquisition through the use of its Series “B” Preferred Stock, Mr. Fletcher says.

“This assures that the current common stock shareholders would not experience any immediate dilution of their shares of Common Stock,” Mr. Fletcher says. “Additionally, there is a contractual rider that states that the Series B Preferred Stock to be issued as part of this acquisition cannot be converted to the Common Stock of the Company for a period of two calendar years or FMS has four profitable consecutive quarters, whichever comes first.”

The purpose of this contractual rider is to ensure that the holders of the Series “B” Preferred Stock from this acquisition cannot convert to common stock, which will dilute ownership of the current shareholders of the Company, until the subsidiary has added significantly to the top-line revenue and is cash-flow positive, Mr. Fletcher explains.

UMAX acquired FMS pursuant to an equity exchange agreement executed on Monday, January 11, 2022 (the “Agreement”). Pursuant to this Agreement, the Company acquired 51% of all outstanding equity of Funny Media Studios (making it a majority owned subsidiary) in exchange for 1,500,000 shares of Series B, Preferred Stock of the Company.

“The acquisition of FMS goes hand-in-hand with our acquisition in May 2021 of Funny Media Group, LLC,” Mr. Fletcher says. “Both operations work with each other on a myriad of projects. It was a natural acquisition for the Company as we move forward with our updated business plan.”

After these acquisitions, UMAX has now fully transitioned into comedy development as the vehicle to achieve a cash-flow positive operation and to provide the best return on shareholder’s investment.

FMS is currently doing business under the dba Broadcast West. The facility is located at 5727 West Adams Blvd., Los Angeles, California 90016. FMS has a 2,600 sq.ft. soundstage, a full-scale gourmet kitchen set for television production, ample green screens, and a state-of-the-art media control room. The studio has current clients that include Fox, Bloomberg, and Comedy Central among others. It also is satellite-ready, and is frequently used for SMTs (Satellite Media Tours).

For more information on FMS, please visit: https://BroadcastWest.com/

Broadcast West accommodates a wide range of production needs efficiently and cost effectively. Our redundant fiber optic satellite connections allow us to transmit 24 hours a day, 7 days a week and we can service productions of any size with our experienced broadcast crews.

Broadcast West has the expertise to manage a production from conception to completion, and for those who do not need a complete production package – stage and studio space is also available. Because each production is different, our rates are based upon our client’s needs, but rest assured, we have the most competitive rates in the industry.

Whether it’s a one hour live shot in the United States or a five hour, 30-city satellite media touraround the globe, Broadcast West can handle your all your Live Shot and Satellite Media Tour needs, 24 hours a day, 365 days a year.

SERVICES

HIGH DEFINITION

We are a fully integrated High Definition facility with standard definition as an additional option.

BROADCAST CAPABILITIES

We broadcast from Los Angeles to 2500 US affiliates or any place worldwide.

TAPED PRODUCTIONS

Our facility produces multi-camera taped or live to tape productions.

LIVE SHOTS

We produce live shots or double enders and can accommodate HD or SD 16×9 / SD 4×3 formats.

SATELLITE MEDIA TOURS

We specialize in Satellite Media tours and we can facilitate multiple or single camera tours. We have digital HD/SD recorders for history and tape and ship files. If Beta SP is requested, We have you covered!

STREAMING SOLUTIONS

We provide streaming services for Satellite Media Tour’s and for live streaming clients that need to deliver to a destination or publishing point.

UP AND DOWN CONVERT

If you are in the need of HD or SD and need to tape or go live, we can up-convert or down-covert your media for delivery.

TELEVISION CONSULTING

We offer different types of consulting services. If you are a television producer, need a HD/SD flypack on site, or mobile solutions. We can help!

SATELLITE MEDIA/PRESS TOURS

A Satellite Media Tour allows a companies executive or brand ambassador/celebrity to make multiple live TV and radio appearances, staggered one after the other, without the need to travel to each individual location. During a typical 5-6 hour Satellite Media Tour, top morning TV and radio ‘drive time’ shows interview your talent for 8-10 mins per station live “via satellite” in turn generating millions of cost effective media impressions.

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IN-STUDIO

Broadcast West’s State-of-the-Art Facility features 2000+ square feet of LIVE studio with a HD Control Room, green-screen, HD Live Shot studio, production suite, postproduction suite, 2 makeup and hair rooms, conference room, green room and upscale reception area. Producing an average of 10 Satellite Media Tours a month, Broadcast West provides everything needed for a professional and successful tour from our Los Angeles based facility.

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ON-LOCATION

Broadcast West now offers turn-key ON-LOCATION Satellite Media Tours complete with HD camera systems, professional lighting and sound, portable greenscreen, Black Magic Professional Switcher and LTN Global FlyPacks.  Broadcast West Mobile is available 24/7 and ready on short notice to produce any LIVE to Television event whether it is from your Headquarters, Hotel or even the kitchen of your residence. If your location is the star of the show, then Broadcast West will GO LIVE from there!

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THE KITCHEN AT BROADCAST WEST IS THE MOST LUXURIOUS CAMERA KITCHEN ON THE WEST COAST. OUR FULLY FUNCTIONAL VERSATILE GOURMET CAMERA KITCHEN SET FEATURES HIGH END APPLIANCES:

  • 5-Burner Gas Wolf Range in Silestone countertop island
  • Dual Wolf E Series Built-In Convection Ovens
  • 42” Sub Zero Stainless Refrigerator/Freezer
  • Stainless Pull-Out Faucet w/Dual Basin Stainless Sink
  • Fisher & Paykel Dual Drawer Dishwasher

The Kitchen at Broadcast West is camera ready and pre-lit for clients looking to create high-end food related video and photography content.

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  • 2500 square feet of open plan studio
  • 65′ X 40′ X 16′ high white cyclorama
  • Integrated overhead grid lighting
  • 600 Amps total power
  • 2 hair and make-up stations
  • kitchen area with tea/ coffee and snacks
  • 2 bathrooms

Broadcast West makes production a snap. Our 3 SONY HD cameras integrated into our glass HD control room allow for multi-camera LIVE productions via the SONY Switcher. The 10′ wide loading bay lets you load in and set up quickly while talent relaxes in in our 2 VIP green rooms. Finally, the pre-lit cyclorama means you are up and shooting FAST.

Designed from the ground up, Broadcast West features a state of the art glass control room complete with Chyron graphics, intercom, RTS, IFB and Gentner. Recording formats include High Definition, 2K, 4K, RED Options, Digi-Beta, Beta Cam SP, DV cam, tapeless, and other server options.

Control Room

Flat Screen Monitor Wall
Sony 6000 Switcher
DVE & Graphics Playback
HD Harris Inscriber / Chyron
HD Grass Valley Turbo Server
Teleprompter System
RTS Communications / Telex
IFB / Wireless Mics / Hard Wire , Shotgun
Various Material Backdrops
Dual 6-Line Gentner Phone Interface
UPS BackUp / AJA Ki Pro’s

Stage

65′ x 40′ Stage FloorPlan
Camera-Mounted Teleprompters
Soundproof Facility
14′ to Lighting / Grid 32 Dimmers
Grip, Lighting and Dimmer Package
Camera Jib/ Steady-Cam
Standard Living Room/ Bedroom Set
New Kitchen Set
Various Material Backdrops
Black Duvatine
Drive-in via 12′ x 12′ Elephant Doors

The Future Kings Of Comedy

Rondell Fletcher (UMAX President and CEO), who has been producing content for more than 18 years, says that the facility-known informally as the Comedy Cube-has already become an important part of the comedy community.

“The comedians love it, the live audiences love it, and it allows us to produce comedy specials in 4K at a relatively low production cost,” Mr. Fletcher says. “We’ve created a great vibe and amazing buzz.”

“We have invested approximately $200,000 USD in on-site video and production equipment along with over $200,000 USD in the full-facility build out and approximately $500,000 USD producing the comedy specials so far,” Mr. Fletcher adds.

New Comedy Facility Creating Buzz in Los Angeles

In this 6,000-sq.ft. location, Funny Media Group has brought in more than 100 comedians for their own shows since May 2021. The shows feature an MC, a Live DJ plus custom graphics on a 100-foot curved video wall, all in front of a live audience. After shooting, Funny Media Group adds a graphics package and locks in the color and audio.

The first five specials will be released on August 9, 2021, on Funny Media Group’s website and YouTube channel. After that, three shows per week will be released, one each on Monday, Wednesday, and Friday.

“We’ve been blown away by the talent,” Mr. Fletcher says. “The facility has introduced us to some amazing comedians, and we are giving them the opportunity to have their own comedy special. It’s a win-win and nobody else is doing it.”

Funny Media Group has booked The Comedy Cube through October, Mr. Fletcher adds.

Mr. Fletcher has an extensive producer and media background. He has owned his own production studio in los Angeles for the past 10 years and has produced several miniseries. Additionally, Mr., Fletcher has worked with networks such as Fox, Food Network and CNN to produce shows shown on a nationwide scale.

The shows feature an MC, a Live DJ plus custom graphics on a 100-foot curved video wall, all in front of a live audience. After shooting, Funny Media Group adds a graphics package and locks in the color and audio.

The first five specials will be released on August 9, 2021 on Funny Media Group’s website and YouTube channel. After that, three shows per week will be released, one each on Monday, Wednesday, and Friday.

“Nobody is doing what we are doing, and the buzz has been electric,” Mr. Fletcher says.

UMAX Is Producing Grammy Worth Content

Funny Media Group, Two Works Submitted for Grammy Consideration

Two comedic works that have been submitted for consideration for the 2021 Grammy Awards, the company has announced.

After the acquisition of Funny Media Group (FMG) in May 2021, UMAX has now fully transitioned into comedy development, with a full slate of comedy specials and videos.

Two FMG productions that feature Tryf Da Comedian are now up for consideration in the first round of Grammy voting, which opened last week.

Best Comedy Album – Symphunny, Vol. 1 – Tryf Da Comedian

Best Music Video – Me Gusta Latina – Tryf Da Comedian & Snoop Dogg

“WE ARE HOPEFUL THAT GRAMMY VOTERS WILL CONSIDER TRYF’S ALBUM TO BE THE BEST COMEDY ALBUM OF THE YEAR,” SAID RONDELL FLETCHER, UMAX PRESIDENT AND CEO. “HE REALLY IS BREAKING NEW GROUND WITH HIS COMEDIC STORYTELLING AND MUSIC DIRECTION.”

Tryf has pioneered “Symphunny”-a comedy/music fusion that features raw comedy storytelling with a soulful beat from a live band complete with backup singers and a string section.

His Symphunny, Vol. 1 was released April 23 and is available on iTunes, Spotify, and Amazon Music. The video for the first song, Me Gusta Latina, (released April 30) has nearly 4.5 million views on YouTube.

The 64th Grammys will be held January 31, 2022, at Staples Center in Los Angeles.

Digital Media Market Is Set To Boom In The Upcoming Years

The newest update of Statista’s digital media market shows that revenue in some of the largest media markets in the world is set to increase in the coming years. While the United States will continue to be a leader in the digital media market, the market’s growth is slowing in comparison to other countries.

The United States is projected to grow at a roughly 9 percent pace over the next four years, with 2023 revenue forecasted at around $50.75 billion. By comparison, revenue in China’s digital media market is expected to expand at a 15 percent pace. Within four years, Statista estimates put revenue from digital media from the country at around $33 billion.

While the revenue of countries like France, Italy, the UK, and Germany are magnitudes smaller than that of the top three rainmakers in digital media, the growth prospects for these markets are still positive. France is set for 23 percent growth, while the UK, Germany and Italy are projected to increase by around 15 percentage points. All these markets digital media markets are expected to stay under the $10 billion mark.

UMAX is now “pink current” and plans to up list to OTCQB

Mr. Fletcher (President and CEO of the Company), states…” We would like to announce that UMAX has begun the interview process with intent of signing an engagement letter with a PCAOB qualified auditor during the first several weeks of 2021 in an effort to complete audited financial statements for our last fiscal year ended March 31, 2020. UMAX is completing this significant corporate action with the intent to file for listing on the OTCQB with OTC Markets, Inc. We feel that this financial transparency will fit well with our planned growth through acquisitions in calendar year 2021. ”

According to OTC Markets, Inc., the following items required for OTCQB eligibility (For U.S. Companies): (1) Must have audited financial statements prepared by a PCAOB auditor; (2) meet minimum bid price test of $0.01; (3) not be in bankruptcy; (4) have fifty beneficial shareholders, each owning at least 100 shares; (5) have a freely traded public float of at least 10% of the total issued and outstanding of that security; and (6) have a transfer agent that participates in the Transfer Agent Verified Share Program.

Mr. Fletcher (President and CEO of UMAX) further stated…”Upon the completion of the Audited Financial Statements, UMAX will be able to immediately make the application for listing on the OTCQB as we will meet all of the eligibility requirements set out by OTC Markets, Inc. The preparation of audited financial statements will also enable us to eventually move from our current Alternative Reporting Standard to the SEC Reporting Standard with OTC Markets, Inc. We feel this added transparency of being a fully reporting issuer with the Securities and Exchange Commission (“SEC”) will be a benefit to the current and future shareholders of UMAX. As such, after the preparation of the audited financial statements, UMAX plans on filing a registration statement under the Securities Exchange Act of 1934, as amended, in an effort to register our class of common stock with the SEC which will move us to the SEC Reporting Standard. This current corporate action, along with the previously announced cancellation of 500,000,000 shares of common stock to treasury and lowering our authorized common stock from 1,850,000 to 500,000, will improve our efforts to grow UMAX through significant acquisitions. As stated in a previous press release, as we grow the future business of the Company, we want our public shareholders to understand that we have one goal in mind, to maximize shareholder value.”

UMAX has been busy in the last few weeks; they signed a deal to distribute its comedy specials with Foundation Sales and Consulting, a company known for its strategic and operational expertise in the film, television, and the evolving digital and technology space. As part of its deal with Foundation, Funny Media Group has developed a new format called “The Cube”-30-minute episodes featuring 15 minutes each from two select comedians. Since beginning the shows in May 2021, FMG’s YouTube channel has racked up over 1.5M views over only 40 shows. Two hundred shows have been taped, with 160 remaining to be released. 

Also on January 5, UMAX announced:

UMAX GROUP CORP. – Lowers Authorized Common Stock

LAS VEGAS, NV / ACCESSWIRE / January 5, 2022 / UMAX Group Corp. (OTC PINK:UMAX), a Nevada corporation, would like to announce that it has filed amended articles of incorporation with the State of Nevada, Secretary of State, lowering its authorized common stock from 1,850,000,000 shares of Common Stock to 500,000,000 shares of Common Stock.

Mr. Fletcher (President and CEO of the Company), states…”We started the process of changing our capital structure over a year ago. As announced last month, we were able to effectuate the cancellation of 500,000,000 shares of Common Stock lowering our issued and outstanding common stock by 89%. The filing of the amended articles of incorporation, lowering our authorized common stock, is the final step in this process. As promised, the Company will not increase the authorized Common Stock for a minimum of three fiscal years. With these actions in place, not only will our market capitalization be more in line with our financial performance, but investors can rely on the fact there will be no significant dilution of their holdings as we grow the Company.”

The Company filed an amended articles of incorporation with the Nevada Secretary of State to lower the authorized Common Stock from 1,850,000,000 to 500,000,000, a lowering of over 300%. Additionally, the Company’s Board of Directors has resolved to not increase the authorized Common Stock for a minimum of the next three fiscal years or April 30, 2025.

Mr. Fletcher further stated…”With this corporate restructuring out of the way, we are now fully focused on growing the business of the Company. Our sole subsidiary, Funny Media, Group, LLC, a Wyoming corporation, will have several material events to announce over the coming weeks and months. Additionally, the Company is also in final negotiations with regards to several material business acquisitions. Our focus in these acquisitions is to acquire cash flow positive operational subsidiaries or companies that show increased revenue potential in the short term. These acquisitions will not only diversify our business operations but will spread the risk of our financial performance over several revenue producing entities. It is really exciting time for the Company.”

Umax Group Corp
Rondell M Fletcher, CEO
umaxgrpcorp.com
FunnyMediaGroup.com

STOCK INFO
OS: 65,472,274
Market Cap: $7,922,145

UMAX

UMAX is on the move northbound! after baselining at $0.10 for several months UMAX ran to $0.20 in December before coming back to a dime last week. Now UMAX is running northbound again from under a dime last week to a close of $0.129 today running 30% in the last 4 sessions. 

UMAX operates a state-of-the-art facility in Downtown Los Angeles that has become a one-stop shop for live comedy shows which was formerly known as the Comedy Cube. This 6,000-sq.ft. location has been upgraded with state of the art on-site video and production equipment along with a full build out utilized for a live audience.

RECENT RESTRUCTURING

UMAX is now “pink current” and plans to up list to OTCQB

Cancellation of Common Stock – On November 2, 2020, UMAX announced the cancellation of 500,000,000 shares of its Common Stock thus lowering the amount of common stock issued and outstanding to less than 65,000,000 shares of Common Stock. This planned cancellation has been delayed due to the market value of the certificates being cancelled when attempting to get the required gold medallion signature guarantees through an appropriate banking institution. We are currently in discussions with our stock transfer agent in finding an appropriate resolution to allow this cancellation to get completed. UMAX anticipates this issue will be resolved in the next two to three weeks.

Lowering of Authorized Common Stock – On November 17, 2020, UMAX announced the plans to amend our articles of incorporation from 1,850,000,000 to 500,000,000 shares of Common Stock. As stated in the press release, this lowering of our authorized Common Stock would allow UMAX to trade under a relatively normalized market capitalization with the market’s understanding that as we make our future acquisitions, the current shareholders will not suffer significant dilution of their holdings. UMAX will immediately effectuate this amendment to our articles of incorporation shortly after the cancellation of the Common Stock block discussed above is finally completed.”

Engagement of a PCAOB Qualified Auditor – On December 28, 2020, UMAX announced the plan to engage a PCAOB qualified auditor, the subsequent completion of an audit of its financial statements, and an up listing to the OTCQB once completed. UMAX is currently set to receive several engagement letters in the next ten days at which such time, we will execute and engagement letter to move forward with the preparation of our audited financial statements. As such, once a PCAOB auditor is engaged in the next two weeks or less, that is will take between sixty (6) and Ninety (90) days to complete the FYE 2020 and 2019 audited financial statements and notes thereto at which such time the application to OTC Market Groups, Inc. will be completed for UMAX to move to the OTCQB.

NEWS 

Sincerely,

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