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Hollywall Entertainment Inc., (OTC:HWAL) Releases Shareholder Update Letter

WASHINGTON, DC / ACCESSWIRE / June 21, 2023 / Hollywall Entertainment Inc. (OTC PINK:HWAL) ("HWAL"),, a multi-faceted developer, telecommunications, technology, media, music entertainment and broadcasting company releases Shareholder Update letter.

The first half of this year, HWAL has taken additional steps toward once again becoming a reporting issuer and continues to focus on providing future shareholder gains via strategic acquisitions and otherwise, as well as working toward an up-listing to a larger trading exchange. Over the past two years HWAL has completed the following steps:

  • 3/31/2020 - the Company announces that the Audit of its Corporate Financial Statements for years 2011-2019 has been completed.
  • 3/31/2021- the Company announces that the Audit of its Corporate Financial Statements for years 2019-2020 has been completed.
  • 7/27/2022 - the Company makes its application to OTC Markets to up list to the OTCQB tier listing.
  • 10/4/2022 - Application is approved pending completion of the Company's 2022 audited financial statements.
  • 3/10/2023 - the Company announced it has formed a new technology division to invest in and acquire operating companies in the AI, IOT, 5G, Data Center, Blockchain, NFT, Crypto, IOT, and/or Fintech industries.
  • 3/23/2023 - the Company announces that the Audit of its Corporate Financial Statements for years 2020-2021 has been completed.
  • 3/30/2023 - the Company announces plans to release Legend and Superstars Rare Music and Photos NFTS.
  • 4/10/2023 - The Company announced the divestment of its minority-majority controlled infrastructure development subsidiary, Hollywall Development Company, LLC ("HWDC"), led by its Founder, President and Chief Executive Officer, Mr. Darnell Sutton. In conjunction with this divestment Mr. Sutton has stepped away from his positions as an officer and director of the Company to continue in his role as HWDC's President and CEO; 50,020,609 common and 56,391 Series A Preferred shares of Company stock are being canceled and returned to treasury.
  • The Company wishes to thank our Co-Founder Darnell Sutton for his leadership over the past decade and in his efforts to brand Hollywall as a company committed to serving its stakeholders, communities, partners, and staff. We wish Mr. Sutton and his team great success leading HWDC into the next chapter of its mission in service to others and in all its future endeavors.
  • 5/10/2023 - The Company announced that it has purchased a twelve and a half percent (12.5%) ownership stake in the CBD ecommerce platform for a total investment of $125,000, with terms consisting of $100,000 in cash and $25,000 in the form of 12,500 shares of the Company's restricted common stock with a stated value of $2.00 per share. This investment will add an additional revenue stream to the Company.
  • 6/1/2023 - Auditors were engaged to complete the Company's 2022 Audit.
  • The Company is currently evaluating numerous opportunities for future acquisitions that, if completed, would provide increased revenue and earnings to the Company.
  • The Company is in the process of adding new members to its Board of Directors, Board of Advisors, Compliance Committee, and Independent Auditing Committee.

Roxanna Green, President of HWAL stated, "We wish to thank all our shareholders for their patience during this time of transition. I look forward to working with our incoming Board of Directors and Advisors in leading the Company into new and exciting industry sectors with the primary objective of increasing shareholder value. We appreciate your continued support and look forward to a healthy and prosperous year!"

The Company's network of music, film, video, software, and live entertainment executives is focusing on expanding the Company through the acquisition of select entertainment and related companies that currently produce music, television, film and interactive media entertainment and the production of new music as well as small market television and radio station properties.

The Company has recently formed a shareholder communication committee and is executing several new shareholder communication initiatives to include hosting regular shareholder earning calls and releasing quarterly update reports, along with continued press releases and media exposure of corporate developments throughout 2023.

We are currently scheduling a shareholder conference call that will take place within the next four weeks. Please stay tuned for further information.

We always love hearing from you, our shareholders. We encourage open communications with our shareholders and invite all to reach out to the Company through its corporate email or call our offices at 202-827-2220; and to feel free to share your current contact information (email address, phone number and mailing address) so you can receive up to date corporate information.

About Hollywall Entertainment, Inc
Hollywall Entertainment, Inc., is a multifaceted technology, media, entertainment telecommunications, and broadcasting company engaged in maximizing rights to its music, film, television, home videos and software game libraries. Hollywall owns exclusive and non-exclusive rights to market, manufacture and distribute over 17,500 songs from Music Recording Masters. The master recordings contain performances by such legends as Ray Charles, Ella Fitzgerald, The Jackson 5, Frank Sinatra, Dolly Parton, Elvis Presley, Tony Bennett, The Bee Gees, Chicago, Platters, George Gershwin, Marvin Gaye, James Brown, The Who, Janis Joplin, Rolling Stones, Nat King Cole, John Lee Hooker, Willie Nelson, Rod Stewart, Hall and Oates, James Taylor, Etta James, Aretha Franklin, and other multiple platinum selling acts.

Safe Harbor Forward-Looking Statements:
This press release and the statements of representatives of HWAL. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, HWAL's ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (Pink Sheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.

Hollywall Entertainment, Inc.

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