Dear HHSE Friends - as of March 1, 2021, the OTC Market changed (once again) both the format and breadth of disclosure information required in order to maintain "current" reporting status. Unfortunately, we did not see the format changes when our 12-31-2020 report was filed on March 8... and as a result, we have now been declared deficient or otherwise outside of compliance to the new standards.
Accordingly, we will revise the 12-31-2020 Annual Filing for the OTC markets immediately and resubmit. Separately for those who has asked, the annual attorney letter to the OTC Markets is not due until April 30, 2021. Also, the need for OTC filings is rendered moot with the company's full S.E.C. registration.
Part of the new disclosure rules will include additional items which were previously disclosed, but not via the methodology the new requirements mandate. So, there will be some non-newsworthy items posted under the OTC News listings merely to comply with the newly revised reporting standards.
REGARDING THE PLANNED PRESS RELEASE FOR TODAY - We have elected to hold the press release until tomorrow. One of the executives that we have been negotiating with to join MYFLIX is still under a non-compete provision with a prior employer (an SVOD industry leader). While neither HHSE nor the individual believe that a hiring by MyFlix violates this post-employment restriction, we do not feel that the publicity or distraction of a legal battle is in the best interests of MyFlix at this time. Tomorrow's news will address other exciting and relevant topics.... WEDNESDAY NIGHT UPDATE (midnight Central Time) -The Press Release planned for today was held for PRE-MARKET tomorrow (Thursday); however, it is now midnight Central Time, and an OTC Markets disclosure that precedes the wire services press release is still not posted onto the OTC Markets website. We will push forward for the publication of both items early Thursday morning and for expeditious processing by the OTC. It’s frustrating that these new OTC Markets disclosure and formatting requirements are currently impeding the timely flow of information to our shareholders. Hold tight, it’s all in motion. THANKS!!
Onward....
