Greetings HHSE Friends - In follow-up to the post from last week on corporate activities, here's a quick summary / Update. NEW information is in BLUE CAPS.
1). New Staff - Watch for a News Release covering newly hired employees (not outside contractors) that are working on our MyFlix launch. THREE NEW FULL-TIME SUPPORT STAFFERS HAVE NOW BEEN HIRED (ONE IS ALREADY IN THE OFFICE AND THE OTHER TWO START NEXT WEEK). AS THESE ARE NOT "MANAGEMENT LEVEL" POSITIONS, THE COMPANY WAS ADVISED TO NOT VIOLATE THEIR PRIVACY BY INCLUDING PHOTOS AND NAMES. HOWEVER, VP AND SENIOR MANAGEMENT EMPLOYEES WILL ALWAYS BE DISCLOSED.
2). Updated Websites - both the HHSE and MyFlix sites will have significant revamps this week (but possibly NOT published until the weekend) in order to better reflect current activities as well as a more consumer-friendly layout with MyFlix. THE MYFLIX LAYOUTS LOOK INCREDIBLE. UNFORTUNATELY, THEY DO NOT PROPERLY INTERFACE WITH THE AWS INFRASTRUCTURE. ADJUSTMENTS ARE BEING MADE. HOWEVER, WE COULD TAKE A HALF-STEP AND REMOVE THE "CREDIT CARD REGISTRATION" OPTION AT THIS POINT IF ONGOING INTERFACE ISSUES REMAIN. THIS IS NOT AN IMPEDIMENT TO THE FORM 10, AS WE ONLY PLANNED TO UPDATE THE MYFLIX PLACE-HOLDER SITE... THE ACTUAL LAUNCH OF MYFLIX WILL BE FUNDED THROUGH THE COMPANY'S S1 OFFERING. SO THE ORDER IS: FORM 10 FILED, S1 FILED PROMPTLY THEREAFTER, MYFLIX LAUNCHED WITH THE FUNDING SUPPORT FROM THE S1. OUR DESIGN TEAM IS REFOCUSING ATTENTION OVER THE NEXT FEW DAYS ON UPDATING THE HHSE SITE, WHICH HAD NOT OTHERWISE BEEN UPDATED IN SEVERAL YEARS (!!).
3). Corporate Registrations - Although not due until January, we have been advised to file all of the 2022 annual filing fees this week, as the Form 10 references that the company is current on such basic corporate housekeeping issues (e.g., Hannover House, Inc., Medallion Releasing, Inc., Bookworks, Inc., VODWIZ, Inc.). THESE HAVE ALREADY BEEN ADDRESSED SINCE THE PRIOR BLOG POST.
4). State and Federal Taxes - We have been advised to pay these modest balances immediately, as the Form 10 narrative states that the company is current on all such taxes. FEDERAL TAXES HAVE BEEN PAID SINCE THE PRIOR BLOG POST, AND THE STATE TAX ASSESSMENT HAS BEEN APPEALED (WHICH EFFECTIVELY RENDERS THE CLAIM MOOT AS FAR AS FORM 10 IMPACT).
5). Dedicated MyFlix Phone System & Service Lines - will be ordered tomorrow. This will include a main telephone line for HHSE on the Form 10 and future corporate listings. DEDICATED MYFLIX PHONE LINES HAVE BEEN ORDERED AND WILL BE INSTALLED THIS WEEK.
6). Formal Engagement & Retainer for Library Valuation Service - Although the new library valuation will occur in February - well-after the Form 10 is filed - we have been advised that formal engagement of this specialty analysis firm now will complement our Form 10 notes regarding the stale status of the existing (2010) Library Valuation. To be clear, the engagement of this firm is what is occurring this week... their updated library report will be completed in February and the completion of this new report is not an impediment to the F10 filing schedule. PARKINSON IS MEETING WITH THE LIBRARY VALUATION TEAM IN LOS ANGELES ON FRIDAY, AND WILL REMIT THE RETAINER PAYMENT AS WELL AS REVIEW THE LOGISTICS AND ISSUES FOR THE FEB. 2022 NEW REPORT.
7). Updated "Current" Status Key Vendors - in support of comments made within the narrative portion of the Form 10, key attorneys, vendors and rights issues will be brought "Current" in the next few days. All of these activities are being addressed immediately in support of strengthening the registration statement and minimizing the potential for significant commentary from the Securities & Exchange Commission. THESE ARE IN MOTION BUT NOT FULLY RESOLVED / RETIRED AS OF THIS MORNING. NOT A MATERIAL CONCERN, AS THEY WILL BE RECTIFIED IN THE NEXT FEW DAYS.
FIVE OF SEVEN MATTERS ARE FULLY RESOLVED... THE OTHER TWO ARE IN CURRENT AND EXPEDITED MOTION!
HHSE Lender Paul Graham of Graham Financial Services, Inc., speaks with Arkansas Governor ASA HUTCHINSON and HHSE C.E.O. Eric Parkinson after a recent economic forum to discuss the filmed entertainment and digital media incentive programs coming before the next legislative session.
