Business
Hollywall Entertainment Inc. (HWAL) Issues Shareholder Letter and Provides Corporate Update
Hollywall Entertainment Inc. (HWAL) Issues Shareholder Letter and Provides Corporate Update.
About this update from Hollywall Entertainment Inc.
[{"type":"text","content":"WASHINGTON, DC / ACCESSWIRE / August 10, 2023 / Hollywall Entertainment Inc. (OTC Pink:HWAL) ("HWAL"), a prominent developer, telecommunications, technology, media, sports, entertainment, and broadcasting company, is pleased to issue a letter to shareholders from its President, Roxanna Green, outlining the company's recent activities and strategic advancements.Dear Shareholders,We are announcing a series of catalysts that will drive long-term shareholder value. Our priorities are developing new partnerships, joint ventures, and licensing agreements that will monetize our expanding entertainment network including the extensive music catalog ("the Catalog") of over 17,500 master recordings.Latest Developments:Share Cancellation & OS ReductionStrategic AlliancesMusic Assets TransactionStrategic InvestmentShare Cancellation & OS Reduction: This week, HWAL is successfully completing the cancellation and return of 51,082,262 common shares to the treasury, as part of its planned share reduction initiative. Upon completion of the process, the outstanding common shares will be reduced from 144,317,918 to 93,235,656 outstanding shares, enhancing the company's equity structure, and increasing shareholder value. The Company is also implementing further measures to further decrease the total number of outstanding common shares, to be announced soon.Strategic Alliance: HWAL, in collaboration with LIG Assets, Inc. (LIGA), has established a groundbreaking Technology-driven Media and Entertainment company, "Ailiance, Inc" (https://ailiance.net). This strategic alliance is positioned to leverage the increasing demand for fresh music, television, film, and live entertainment content in the digital landscape. One of the primary strategic objectives of Ailiance is to pioneer innovative methods for monetizing HWAL's extensive music library. Shareholders of both HWAL and LIGA will receive a new stock dividend in Ailiance during the first quarter 2024. Link to PR dated 06/29/2023.Music Assets Transaction: HWAL successfully completed a major transaction involving the sale of a portion of its entertainment and media assets, known as "the Catalog," to Melody Trust (https://melodytrust.com). With a confirmed fair value of approximately $146 million as of March 12, 2021, based on Sun Business Valuation's asses...