Greetings HHSE Friends & Followers - as tidbits of news continue to leak out from the successful CANNES Market, we find continued enthusiasm for the company's stock and activities. Very exciting progress has transpired for MyFlix as well as for the creation / acquisition of locomotive titles and new supplier partners. The entertainment industry has already recognized the value of the MyFlix multi-studio streaming model... and the market is beginning to respond.
Meanwhile - with respect to the company's Form 10 Registration, S1 Offering and ongoing activities to resolve prior legal matters, these are also moving ahead at warp-speed.
The company was surprised and disappointed that the New York Judge hearing our motion to re-open the Lewin case did not concur. However, the opinion (filed this Tuesday) does provide for several paths for our New York team to file an appeal. Despite rumors on stock chat boards, there is no "three-day rule" to file the appeal, and the HHSE points-and-authorities are complex and require more time for drafting of the appeal.
Last Friday, we were informed that the NY attorneys would be promptly filing the appeal. While they are, indeed, responding promptly, it was not correct to predict that this appeal would be filed on Monday (as was reported in a prior blog). The point of the appeal is to WIN - and this is best achieved through proper case precedents and research - and not through a fast, but anemic objection. So, while HHSE management prefers that the appeal be filed promptly, we also must defer to our counsel for taking the appropriate time to draft the strongest motions in order to achieve victory.
Also occurring at this time is that our Arkansas counsel is working to clarify the scope of the foreign default and the parameters of collection and exclusions, in the event that the New York appeal does not prevail or that the Arkansas court does not challenge the default under Rule 55, section 16.601 of the Arkansas Code. It is our understanding that a hearing will occur in Arkansas during the week of August. 9 - 13, although this hearing has not yet been formally scheduled.
Separate news on F10 and S1 will be posted this weekend. The company is expecting some fresh eyes on that particular update, and we feel it's best presented as a free-standing post.
ONWARD!
