Greetings HHSE Friends & Followers - the past week for HHSE management has been focused almost exclusively on implementing revisions to the 12-31-2020 and 12-31-2021 financials. This is a newly required step has been required in order to conform with discrepancies between previously reported amounts for payables, judgments and receivables, with the revised balances occurring after third-party verifications.
Even inconsequential variances from the inadvertent under-or-over-reporting of liabilities and assets - requires revisions to the prior reporting years in order to establish the confirmed baseline values for each balance sheet item. For example, if interest on a judgment debt was accrued at a rate different from the court ordered rate, then this variance will impact accrued earnings and shareholder equity. Conversely, failure to recognize all receivables or to retire accounts payable balances long ago paid-in-full, will also impact earnings and equity.
There are no issues with the XBRL and other formatting - and there is no special significance to the dates of Feb. 14 or Feb. 15 - mentioned here due to shareholder emails inquiring as such. These are final clean-up steps to assure that the OTC Markets revised filings will match with the Form 10 audited financials.
The best news is that future reporting periods and audits will be simple as compared to the extensive work required to verify starting balances and modify the past three years of prior filings (for both cash-basis as well as third party verifications).
IN OTHER NEWS - Post-Production is nearing completion on WILDFIRE - with Michael Martin Murphey's original score laid-into the edit assembly, and supplemental "interstitial" mood music now been added. The final mix and delivery are just a few weeks away... which triggers a significant distribution advance for the benefit of HHSE.
Pre-Launch activities continue for the MyFlix venture - as well as ongoing activities for the major features (Belle Starr, Modern Antiquities and Meltdown).
Although HHSE news has been quiet recently, it's about to kick into gear, contemporaneously with our Form 10 filing and what many believe should be a meteoric stock response. More to come...
