OTC PINK: UMAX
A recent acquisition puts UMAX Group Corp (OTUMAX) in position to transform the way consumers approach comedy.
Unique acts, fresh venues, and big names like Snoop Dogg are leaving a lasting mark on the rapidly growing entertainment market.
Taking their place in a $6B Market
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.
Like many other industries, the world of live comedy took a hit over the past couple years. Comedians, writers, actors, and club owners found themselves scrambling to keep cash flow up as COVID-19 began to spread.
In response, some live entertainment based companies folded while others rose to the occasion. Funny Media Group chose the latter.
With fresh new acts a unique perspective crafted from the concerns of their clients, Funny Media began etching a place for themselves in the world of stand up comedy.
What makes them special?
Funny Media Group aims to provide a platform for new and innovative comics, instead of relying on well established performers. Keeping their ear to the street, their team has been able to regularly book promising new acts at their private Los Angeles, CA comedy club.
The real genius lies in their one-stop-shop approach for fresh entertainers. They leverage strong ties to the LA comedy scene, their own club "The Comedy Cube", and an impressive in house media team to record, edit and market full-length comedy specials.
President and CEO, Rondell Fletcher stated "It's just the beginning, but so far, the buzz has been electric...Our team has been working tirelessly to provide the best comedy venue in Los Angeles, and comedians have flocked to us and embraced us, allowing us to put 100 comedy specials in the can, in 3 months."
Fletcher has steered the company in a new and more lucrative direction since his onboarding in February 2020, mainly due to his successful background and multi-disciplined approach to business.
An accomplished entrepreneur, he has spearheaded both domestic and international projects in operations, multi-channel product distribution, and marketing.
With nearly 20 years of experience producing and marketing media through his own company for the likes of CNN, FOX, Food Network, and Comedy Central, Mr. Fletcher has a firm grasp on what is required for a company to succeed in the entertainment space.
Upon taking over direction of UMAX, Fletcher began by cleaning house and getting the basics in order. This included setting both short and long term growth and revenue generating strategies. First, getting the burgeoning media group into a viable trading position by becoming "Pink Sheet Current", meaning they are fully current in mandatory filings.
Also high on the agenda was setting precedents for production output. Currently, the company puts out new comedy specials three days per week through their in-house production and marketing team with the short-term goal of producing content and selling services to streaming platforms like Netflix, Hulu and Amazon.
Their proactivity in these short-term goals opens up new channels for the company to explore the $942.93 Billion video streaming market and build up a library of media for possible acquisition down the road.
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On December 20th, 2021 UMAX was able to finalize an agreement to cancel 500,000,000 shares of Common Stock. This cancellation is crucial to the future of the company, namely in viability for investors.
According the President and CEO Rondell Fletcher, this decision has been in the works for the past year and now that it's been concluded, the company can begin operating under a more accurate market capitalization range and comfortably continue working toward their long-term ambitions.
"With this corporate restructuring out of the way, we are now fully focused on the business of the Company. We will have several business-related announcements over the next couple weeks regarding our media productions operations. There have been ongoing specials filmed at the Comedy Cube in Los Angeles California and our YouTube channel now has over thirty comedy specials for public view with another 160 in the can that will be added to the channel in the upcoming weeks. We will follow up shortly with a more detailed announcement of these operations along with some co-sponsored events with popular comedians."
As UMAX Group's catalogue and fan base grows, many of their performers are reaching star status in the entertainment industry. Perhaps most notably, entertainer Tryf Da Comedian.
Tryf uniquely blends his comedic stylings with strong musical backing, including a full band and backup vocal section. In April 2021, he released the music video for his hit track "Me Gusta Latina" co-staring rap legend Snoop Dogg. This collaboration amounted in an astounding 4.5 million views on the company's YouTube channel and a massive influx of fresh viewers.
In November 2021, UMAX announced that this production had been submitted for consideration in the upcoming Grammy Awards in the Best Music Video category. Additionally, Tryf's full-length album Symphunny, Vol.1 was also put up for Best Comedy Album.
The implications of Grammy consideration, massive celebrity collaborations, and completely proprietary products has laid some firm groundwork for future deals with larger streaming companies like Netflix or Amazon Prime, rocketing FMG ahead towards their long term goals.
Source 1: https://www.yahoo.com/now/umax-group-corp-funny-media-133000246.html
Source 2: https://www.ibisworld.com/united-states/market-research-reports/live-performance-theaters-industry/
Source 3: https://www.bbc.com/news/business-53360858
Source 4: https://www.yahoo.com/now/worldwide-video-streaming-market-industry-094900138.html
Source 5: https://www.accesswire.com/673322/UMAX-Group-Corp-Funny-Media-Group-Two-Works-Submitted-for-Grammy-Consideration
Source 6: https://www.cnbc.com/2018/08/15/netflix-cost-plus-model-tv-shows-revenue-upside.html
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