3rd-Quarter Report Analysis (Debt Reduction, Lawsu
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Posted On: 11/24/2018 11:21:14 AM
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3rd-Quarter Report Analysis (Debt Reduction, Lawsuits-To-Be-Resolved, Balance-Sheet Polishing)
Although solid as a rock, the Financials themselves are currently nothing stellar (yet) as HHSE transitions into their strategy for maximizing revenues and bottom line results with a two-pronged approach: Major Films for HHSE and MyFlix as a one-stop digital streaming store.
The real Highlights are:
* Eliminating & Reducing Debt
* Nuisance Lawsuits being Resolved
* General Balance Sheet Cleaning Up
Look over the Statements, read the Footnotes. Obviously, HHSE is preparing the Financial Audits, for the SEC Form 10 Registration, S-1 Direct Stock Purchases, MyFlix Launch and OTC:QB Uplist that will follow. Getting more presentable for greater quantity and more sophisticated class of knowledgeable investors. New & Improved HHSE
Revenues $202,757
Net Income $28,911
RETAINED EARNINGS (End of Period) $3,737,294
Current Assets $9,118,773
Current Liabilities $1,981,051
Current Ratio = 4.6 = (4.6 To 1 Ratio)
$4.60 Assets For Every $1.00 Liabilities
Total Long Term Liabilities $2,071,521
Total All Liabilities $4,052,572
Total All Assets $36,657,151
Lawsuits To Be Resolved Within 60-Days -
The company anticipates that current legal threats and judgments will be resolved within the next 60-days, which corresponds to the timeframe in which the company’s pending Form 10 Registration will be aging with the S.E.C. The resolution of these legal matters is not a prerequisite for the filing of the Form 10; however, HHSE prefers that such matters be amicably resolved prior to the end of the 60-day S.E.C. aging period so that the enthusiasm for the company’s up-listing is not impacted by unreasonable shareholder concerns.
Page 18
Origin Releasing Settlement Agreement -
(Approximately $220,000)
Page 19
Item 11 A1-A6 – Supplemental Disclosures.
i). “MYFLIX” (VODWIZ STREAMING VENTURE) – The Video-On-Demand Website, Streaming Portal and Over-The-Top (OTT) service previously announced by HHSE as “VODWIZ” received a launch boost in March – and initial funding in April and May – from a non-affiliate lender. Initial proceeds were utilized to acquire the URL of “Myflix.com” and all other applicable internet sites, excluding “Myflix.tv” (which will be pursued shortly). Additionally, trademark, copyright and service mark usage have been applied for and / or demonstrated, including signage, ads, press announcements and promotional activities to launch the site at the Cannes Film Festival and Marche du Film. The original plan for the “Myflix” site was to launch in late Summer (2018) with 30 or more supplier studio partners (including an assortment of feature films from several major studios), with an initial focus on the Transactional Video-On-Demand (TVOD) titles (consumers pay approx. $1.99 per movie. However, the logistics and time required to onboard / upload film titles has indicated that a more realistic launch for MYFLIX will occur in January or early 2019 – once the venture has over 2,500 fully accessible features (there is a total universe of more than 12,000 titles under license or commitment to MyFlix); the “Monthly Subscription” model (SVOD) will be launched shortly after the TVOD model – and unique programming offerings and elements (such as video games and educational programming) will further help differentiate and brand the Myflix service.
Pages 22 - 23
HHSE 3rd Quarter Report - Period Ending September 30, 2018:
https://backend.otcmarkets.com/otcapi/company...72/content
HHSE
Although solid as a rock, the Financials themselves are currently nothing stellar (yet) as HHSE transitions into their strategy for maximizing revenues and bottom line results with a two-pronged approach: Major Films for HHSE and MyFlix as a one-stop digital streaming store.
The real Highlights are:
* Eliminating & Reducing Debt
* Nuisance Lawsuits being Resolved
* General Balance Sheet Cleaning Up
Look over the Statements, read the Footnotes. Obviously, HHSE is preparing the Financial Audits, for the SEC Form 10 Registration, S-1 Direct Stock Purchases, MyFlix Launch and OTC:QB Uplist that will follow. Getting more presentable for greater quantity and more sophisticated class of knowledgeable investors. New & Improved HHSE
Revenues $202,757
Net Income $28,911
RETAINED EARNINGS (End of Period) $3,737,294
Current Assets $9,118,773
Current Liabilities $1,981,051
Current Ratio = 4.6 = (4.6 To 1 Ratio)
$4.60 Assets For Every $1.00 Liabilities
Total Long Term Liabilities $2,071,521
Total All Liabilities $4,052,572
Total All Assets $36,657,151
Lawsuits To Be Resolved Within 60-Days -
The company anticipates that current legal threats and judgments will be resolved within the next 60-days, which corresponds to the timeframe in which the company’s pending Form 10 Registration will be aging with the S.E.C. The resolution of these legal matters is not a prerequisite for the filing of the Form 10; however, HHSE prefers that such matters be amicably resolved prior to the end of the 60-day S.E.C. aging period so that the enthusiasm for the company’s up-listing is not impacted by unreasonable shareholder concerns.
Page 18
Origin Releasing Settlement Agreement -
(Approximately $220,000)
Page 19
Item 11 A1-A6 – Supplemental Disclosures.
i). “MYFLIX” (VODWIZ STREAMING VENTURE) – The Video-On-Demand Website, Streaming Portal and Over-The-Top (OTT) service previously announced by HHSE as “VODWIZ” received a launch boost in March – and initial funding in April and May – from a non-affiliate lender. Initial proceeds were utilized to acquire the URL of “Myflix.com” and all other applicable internet sites, excluding “Myflix.tv” (which will be pursued shortly). Additionally, trademark, copyright and service mark usage have been applied for and / or demonstrated, including signage, ads, press announcements and promotional activities to launch the site at the Cannes Film Festival and Marche du Film. The original plan for the “Myflix” site was to launch in late Summer (2018) with 30 or more supplier studio partners (including an assortment of feature films from several major studios), with an initial focus on the Transactional Video-On-Demand (TVOD) titles (consumers pay approx. $1.99 per movie. However, the logistics and time required to onboard / upload film titles has indicated that a more realistic launch for MYFLIX will occur in January or early 2019 – once the venture has over 2,500 fully accessible features (there is a total universe of more than 12,000 titles under license or commitment to MyFlix); the “Monthly Subscription” model (SVOD) will be launched shortly after the TVOD model – and unique programming offerings and elements (such as video games and educational programming) will further help differentiate and brand the Myflix service.
Pages 22 - 23
HHSE 3rd Quarter Report - Period Ending September 30, 2018:
https://backend.otcmarkets.com/otcapi/company...72/content
HHSE
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