CMGR - Pathetic

It must get pretty boring stealing money from the average, gullible, investor... or at least it potentially appears to be for whoever writes CMGR's press releases.  Today's vague, three sentence press release must have potentially taken a few minutes to write up, although the pennystockguru can give no assurances it took that long.  The last sentence of press release sums it up:

There can be no assurances that the contemplated transaction will be consummated under the terms outlined in their respective letters of intent or at all. 

But with the price history of this stock you can be assured your investment will be worth virtually nothing down the road.  So at least you have that going for you, which is nice.

Somehow people bought shares today  as the stock posted over 300 million shares traded.   Funny thing is just 3 months ago the "company" had only 12,566,257 shares outstanding.  This was just after the "company" had just reverse split the stock by a rate of 700 for 1.  They have since potentially inflated their outstanding shares by at least 30 fold according to today's volume.  That is pathetic.  To screw over shareholders via a share recapitalization only to dump hundreds of millions of additional shares into the market a few months later is why CMGR is a stock to AVOID.

This is a company that has been doing nothing more than sell stock the last two years.  A $10,000 investment in 2007 is worth pennies today!  How is that for shareholder value?  Stay away from this pathetic stock.

Today's press release was as non-commital as it gets.  There is not one word that gives you the idea that anything is going to happen.  The only part of the press release that has any length, specificity, or value is the safe harbor statement, which basically tells you that CMGR can say whatever they want and get away with it.  Buyer Beware.





Camelot Enters Into Three Letters of Intent
IRVINE, CA, Oct 06, 2009 /PRNewswire-FirstCall via COMTEX/ -- Camelot Entertainment Group, Inc. (OTC BB: CMGR) ("Camelot") announced today that it has entered into three letters of intent regarding potential acquisitions Camelot has been negotiating. The three potential acquisitions include a post production facility in the United States, a movie and television distributor in the United Kingdom and a film library from a movie and television distributor in the United States. There can be no assurances that the contemplated transaction will be consummated under the terms outlined in their respective letters of intent or at all. About Camelot Entertainment Group, Inc.: Camelot Entertainment Group, Inc. is a US publicly traded company (symbol "CMGR") with three major divisions: Camelot Film Group, Camelot Studio Group and Camelot Production Services Group. Camelot is building a different kind of motion picture studio infrastructure by redefining the development, financing, production, and distribution process. For information about Camelot Entertainment Group, Inc., please visit the Company's web site at www.camelotfilms.com.






NOTES ABOUT FORWARD-LOOKING STATEMENTS

Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings.

Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.
CONTACT: Camelot Entertainment Group, Adam Reznikoff, (518) 309-6629, stockholders@camelotfilms.com
SOURCE Camelot Entertainment Group, Inc.