Shares of UMAX Group Corp (OTCMKTS:UMAX) fell a bit on Monday after soaring last week. The stock has gained over 75% in the past week.
Market Reaction
On Monday , UMAX stock moved down 6.78% to $0.1388 with 126k shares, compared to its average volume of 31k shares. The stock has moved within a range of $0.1010 – 0.1490 after opening trade at $0.1490.
Funny Media Group Signs Distribution Deal with Foundation Sales and Consulting
Nevada Corporation UMAX Group Corp (OTCMKTS:UMAX) on December 27, 2021, signed a deal for the distribution of comedy specials with Foundation Sales and Consulting.
Foundation Sales and Consulting company is established for the operational and strategic expertise in television, film as well as evolving digital and technology space.
Post-acquisition of Funny Media Group earlier in May, the company has now transitioned to comedy as a vehicle for achieving positive cash flow as well as providing good returns to shareholders.
UMAX President and CEO, Rondell Fletcher, engaged in producing content for almost two decades opines that Foundation would be becoming a significant partner.
Fletcher said that the company could not have asked for a more experienced and dedicated set of professionals. The deal entails Funny Media Group developing a fresh format “The Cube”-30-minute episodes featuring 15 minutes each from two comedians.
Fletcher added that the Cube will enable the firm to demonstrate the work of some of the wittiest comedians.
The CEO owns a production studio in Los Angeles and has produced shows for FOX, CNN, Food Network as well as Comedy Central. In the short term, the Funny Media Group aims to produce content for streaming services like Amazon and Netflix with the ultimate goal of building a huge media catalog for acquisition.
Since May 2021, the company’s YouTube channel has witnessed over 1.5 million views for just 40 shows.
