10-Q: Cannes, Samcorp, Manipulator's Suit, Direct Stock Sales
First, Cannes Film Festival begins May 17 - 28. Expect some kind of announcement/news from HHSE/CRIM/Newco:
As announced in press releases and via a Form 8k Information Statement filed, the merger partner is Crimson Forest Entertainment Group, Inc., a China-based media company substantially owned by entrepreneur and business mogul Anthony Lim (of Samcorp and Accuna Companies Worldwide).
2). STOCK MANIPULATOR’S SUIT – At the advice of counsel, the Company has temporarily suspended the civil action against stock XXXX and pricing manipulators, due to the activation of a criminal case against these identified parties, which involves their posting of knowingly false, misleading, malicious and defamatory statements against the Company and its managers as part of a stock-price manipulation scheme. The decision to temporarily suspend the HHSE civil action was made after a March 29 meeting by HHSE managers with the F.B.I. and U.S. Attorney’s office, which followed an extensive (three-year) investigation by the F.B.I. to identify the XXX XXX XXX, and generate evidence of their illegal trading schemes. The HHSE civil action can be reactivated at any time, if it appears that there would be assets to seize after the criminal proceedings.
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5) DIRECT STOCK SALES / OR S-1 SHELF REGISTRATION – As discussed between the principals, and subject to approval of Securities counsel, it is agreed that the company shall accept direct investments from producers and investors either through some version of a “Direct Stock Sale” or if appropriate and so required, through the filing of an S-1 Shelf Registration with the S.E.C. At present, the fully funded feature productions of “Kung Fu Cowboys” and “Nian” (working title) shall be recognized as revenues due to the presale structure of rights allocation with the financiers of those two films. Also, following merger approval, CFEG shall seek to expeditiously consummate the placement of a four-million-dollar (USD $4,000,000) direct stock purchase from a major media company, which shall result in the issuance of stock in exchange for this direct stock purchase, but which shall occur at a one-hundred-percent (100%) premium over the trading price of the combined company stock during the seven prior days of the Volume Weighted Average Price (VWAP), e.g., if the stock is trading for USD $1.00, this direct purchase shall occur at USD $2.00 per share. Neither CFEG nor HHSE anticipate any other direct stock purchases into the merged entity, as the additional funding is expected to be structured as presales or debt, and not treated as equity dilution of the company.
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HHSE First Quarter 10-Q:
http://www.otcmarkets.com/ajax/showFinancialR...?id=172172
HHSE
First, Cannes Film Festival begins May 17 - 28. Expect some kind of announcement/news from HHSE/CRIM/Newco:
As announced in press releases and via a Form 8k Information Statement filed, the merger partner is Crimson Forest Entertainment Group, Inc., a China-based media company substantially owned by entrepreneur and business mogul Anthony Lim (of Samcorp and Accuna Companies Worldwide).
2). STOCK MANIPULATOR’S SUIT – At the advice of counsel, the Company has temporarily suspended the civil action against stock XXXX and pricing manipulators, due to the activation of a criminal case against these identified parties, which involves their posting of knowingly false, misleading, malicious and defamatory statements against the Company and its managers as part of a stock-price manipulation scheme. The decision to temporarily suspend the HHSE civil action was made after a March 29 meeting by HHSE managers with the F.B.I. and U.S. Attorney’s office, which followed an extensive (three-year) investigation by the F.B.I. to identify the XXX XXX XXX, and generate evidence of their illegal trading schemes. The HHSE civil action can be reactivated at any time, if it appears that there would be assets to seize after the criminal proceedings.
Page 18
5) DIRECT STOCK SALES / OR S-1 SHELF REGISTRATION – As discussed between the principals, and subject to approval of Securities counsel, it is agreed that the company shall accept direct investments from producers and investors either through some version of a “Direct Stock Sale” or if appropriate and so required, through the filing of an S-1 Shelf Registration with the S.E.C. At present, the fully funded feature productions of “Kung Fu Cowboys” and “Nian” (working title) shall be recognized as revenues due to the presale structure of rights allocation with the financiers of those two films. Also, following merger approval, CFEG shall seek to expeditiously consummate the placement of a four-million-dollar (USD $4,000,000) direct stock purchase from a major media company, which shall result in the issuance of stock in exchange for this direct stock purchase, but which shall occur at a one-hundred-percent (100%) premium over the trading price of the combined company stock during the seven prior days of the Volume Weighted Average Price (VWAP), e.g., if the stock is trading for USD $1.00, this direct purchase shall occur at USD $2.00 per share. Neither CFEG nor HHSE anticipate any other direct stock purchases into the merged entity, as the additional funding is expected to be structured as presales or debt, and not treated as equity dilution of the company.
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HHSE First Quarter 10-Q:
http://www.otcmarkets.com/ajax/showFinancialR...?id=172172
HHSE
