SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report:

~~September~~December 228, 2009

CSMG TECHNOLOGIES, INC.

(Exact Name of Registrant as Specified in Charter)

Texas		0-27359		74-2653437
(State of Incorporation)		(Commission File Number )		(IRS Employer Identification No.)

1005 North Tower, 500 North Shoreline Drive

Corpus Christi, TX 78471

(Address of principal executive offices) (Zip Code)

361-884-6118

(Registrant's telephone number)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events.

OnThe ~~September 22, 2009 the~~ Registrant (“CSMG”) entered into a Settlement Agreement and Mutual Release (the “Settlement Agreement”) ~~with~~dated ~~Banco~~November ~~Panamericano (“Banco”) and Leon A. Greenblatt~~30, ~~President~~2009 ~~and~~with ~~CEO~~Gordon ofW. ~~Banco, pursuant to which~~Allison ~~Banco~~(“Allison”) ~~assigned~~in toconnection ~~Donald~~with A.a ~~Robbins,~~judgment ~~President~~awarded ofagainst CSMG, in the ~~judgment~~amount ~~it had~~of ~~obtained~~$380,697 ~~against CSMG~~ on ~~December~~February 2327, 2008 in the case styled ~~Banco~~CSMG ~~Panamericano~~Technologies, vInc., f/k/a Consortium Service Management Group. Inc., v. Gordon W. Allison, Case No. 4:07-~~C 15~~CV-0715, in the ~~Northern~~ ~~District~~United ~~of Illinois~~ States District Court, infor ~~the amount of $726,491.91 plus~~he ~~attorney’s~~Southern ~~fees~~District of ~~$474~~Texas,~~828.46~~ orHouston ~~a total of $1,201,320~~Division.~~37.~~ Under the terms of ~~the~~ the Settlement Agreement, CSMG ~~transferred~~agreed to ~~Banco~~issue to Allison 2,000,000 ~~restricted~~ shares of of its common stock of which 600,000 ~~its~~are ~~CO2~~free ~~scrubber~~trading shares and 1,400,000 ~~one~~are restricted ~~patent~~shares. Allison ~~related~~agreed not to ~~the~~sell ~~CO2~~in ~~scrubber~~excess of 100,000 ~~and~~shares ~~certain~~per ~~other~~month ~~consideration~~during the first six months of the Settlement Agreement.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CSMG Technologies, Inc.
Date: September 23, 2009	By:	/s/ Donald S. Robbins
Date: December 11, 2009	By:	/s/ Donald S. Robbins
		Donald S. Robbins
		President and Chief Executive Officer

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