Greetings HHSE Friends - well, it took four business days to get a response from the OTC Markets. As many HHSE Shareholders realized, as of MONDAY morning, the company's "current" reporting status was reduced to LIMITED INFORMATION (Yield Sign). We were told that this occurred automatically as a result of our filing happening AFTER Midnight on 3-31-2022 EASTERN TIME (although, the enforcement of time-zones for the cut off did not previously specify EASTERN time as the filing deadline).
The OTC Markets has reviewed our filing since then - and notified us tonight of a deficiency in our CASH FLOW report, in that the current filing does not include all twelve months of 2021... but only the last three months. This item will be promptly rectified and a new Annual Report filling will be posted.
In other news, we seem to be on the final moments for mutual execution of settlement agreements in the UPTONE and DAISY WINTERS matters. We're hoping for good news in the next trading day or two. With respect to the film library report, we have received back some comments that are being addressed (most notably, the issue that the original rights licenses to some of the HHSE titles expired years ago... but that the program rights owners have extended "at will" authority for the company to continue selling them. This 'courtesy extension' is problematic for creating a valuation of projected earnings in the future - because it's a bit too informal to opine on how much this-or-that title might generate in the next seven years, when the sales rights are not contractually assured). In order to fix this - which task is already underway - we have been asked to get more formal rights extension amendments on ten (10) titles that represent over 30% of the revenues from these "courtesy extension" titles. This is not expected to be problematic or time consuming.
In other news, MyFlix will be prominently featured at the Cannes Film Festival & Marche Du Film in mid-May, with feature stories already confirmed for three of the top five industry publications at that important world market. This will be great timing for MyFlix for many reasons that will be evident within the next month. There will also be trade ads in some of the Cannes publications announcing the completion of WILDFIRE (including the final poster and a QR scannable code to see the final trailer); the pre-production announcement of LEGEND OF BELLE STARR (including a QR code to see a promo reel); and the availability of COWBOYS OF CANNABIS to international television broadcasters, cable networks and streaming services (with scannable QR codes to see both the updated trailer and pilot episode - which now features SNOOP DOGG, JIM BELUSHI and DAN AYKROYD).
Will update the blog as soon as the various FORM 10 related items are resolved.
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