NASHVILLE, TN--(Marketwired - Oct 16, 2017) - Hollywall Entertainment, Inc. (
The Company has furthered its engagement of varies legal and accounting professional firms in support of its expected growth and expansion.
HWAL has issued 1,250,000 of common stock to the Company's existing Employee Stock Option Plan, (ESOP).
The ESOP will enable the company to attract the industry's finest professionals.
HWAL has restructured its common stock by a reverse of 1400 to 1 which was approved by FINRA and effective on June 26, 2017
Management further announces today the issuance of warrants to its current common stock shareholders. These warrants have been declared and issued in support of the company's shareholders who hold the long-term vision of the company which allows them the ability should they choose, to dollar cost average their current stock positions to be more in line with the company's market capitalization. Management maintains the company's mark cap of $8,020,025 is extremely undervalued and a fraction of the Company's book value of over $46,000,000.00 in net shareholder equity.
The warrants will be issued to all Shareholders and will be assignable by the shareholders of record who exist on the close of business Friday, November 20, 2017 and shall be structured as follows:
- Each share of common stock owned no later than November 20, 2017, the Shareholder shall be entitled to receive a 3-tiered warrant. The A warrant shall be exercisable for 30 days from the pay date of November 20, 2017 and gives the holder of each share of common the right to buy 3 additional shares of common at $.85 directly from the Company.
- The A warrant will exist to exercise for 30 days, and immediately becomes a B warrant that is exercisable for 1 share of additional common shares for every share then owned at an exercise price of $2.00 per share for the period of the next 60 days.
- The B warrant right ends and becomes a C warrant right that allows each shareholder of record to purchase an additional share of common for each common share then owned at $5.00 for an additional period of 90 days after expiration of the B warrant period.
Along with the multi-tiered warrants, the Company has created several new Preferred series of equity securities, at least one of which, it envisions will become a totally separate trading security in the marketplace. These will be the vehicles proposed to be used for all fund raising in the future. The Company at this time is considering the possibility of including before year end a total tender offer for all of its currently issued and outstanding common stock.
HWAL will continue to work with the investment banking community and intends to release further detail regarding the structure and timing of the tender offer for all common shares and other anticipated benefits for all of its shareholders.
About Hollywall Entertainment Inc.
Hollywall Entertainment, Inc., www.hollywall.com , is a multifaceted media and entertainment company engaged in maximizing rights to its music, film, television, home videos and software game libraries. The company is developing a digital distribution and verification system to improve customer delivery, quality control and revenues for artists, writers, content developers, copyright owners and shareholders. Hollywall owns exclusive and non-exclusive rights to market, manufacture and distribute over 17,500 songs from Music Recording Masters. Hollywall's recorded music master rights consist of all the "Proprietary Rights," as outlined in its original contracts on file. The master recordings contains 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. The music master recordings include songs that have never been released in addition to songs that have been released by other record companies which hold similar licensing rights to market the songs.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.
Hollywall Entertainment, Inc. 615-257-0780 info@hollywall.com
