on Conservative Broadcast Media & Journalism, Inc. (NASDAQ:CBMJ)
CBMJ Announces Financial Turnaround and Launch of Patriot.TV/Elite Club Membership
On April 2, 2024, Conservative Broadcast Media & Journalism, Inc. (CBMJ), disclosed significant financial improvements in their latest annual report, along with the successful launch of the Patriot Elite club membership on Patriot.TV. The company highlighted an impressive turnaround from a negative shareholder equity of $592k in 2022 to a positive $1.75M in 2023. Furthermore, the report revealed a 68% reduction in net operating losses and an 84% decrease in losses per share.
CEO Mark Schaftlein attributes the financial upswing to strategic acquisitions in 2023, enhancing the company's media operations margins and reducing expenses. Additionally, with acquisitions like American Media Periscope and integration with Patriot.TV, CBMJ aims to expand its conservative media platform.
Launched on March 29th and 30th, Patriot.TV/Elite offers exclusive content to its members, with significant political figures and commentators participating in its initial membership drive. Brannon Howse, President of Patriot.TV, emphasized that the Elite club aims to provide unique insights and influence voter choices in the upcoming presidential election. The platform, operational from the end of February 2024, is anticipated to reflect its initial successes in the Q-1 2024 results.
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