NASHVILLE, TN, Feb. 16, 2018 (GLOBE NEWSWIRE) -- Hollywall Entertainment, Inc., (OTC: HWAL), announces Financial Industry Regulatory Agency (FINRA) has approved HWAL’s application of its three-tier Warrant Program record date of March 27, 2018.
HWAL revised the original record date of December 26, 2017 to March 27, 2018 to give adequate notice to its shareholders and the investment community of the three-tier warrant program. All information regarding the warrant program can also be found at the company’s website, https://hollywall.com/
The warrants purchased by Shareholders of record date of March 27, 2018 shall be structured as follows:
• The first Warrant, (A Warrant), is exercisable for 30 days to holders of common stock of HWAL as of the record date March 27, 2018. The A warrant provides shareholders the right to purchase from the company directly three (3) additional shares of restricted common stock for every share they own as of the date of March 27, 2018 at a price of $0.85 per share. Shareholders can buy A Warrants from March 30, 2018 until April 29, 2018.
• Upon expiration of the A warrant, the A warrant becomes a B warrant which is exercisable for 60 days after the expiration of the A warrants. The B warrant provides for the right to buy 1 share of restricted common stock at a price of $2.00. Shareholders can buy B Warrants from April 30, 2018 until June 29, 2018.
• Upon expiration of the B warrant, the B warrant becomes the C warrant which is exercisable for 90 days after the expiration of the B warrants. The C warrant provides for the right to buy 1 share of restricted common stock at a price of $5.00. Shareholders can buy C Warrants from June 30, 2018 until September 28, 2018.
Along with the multi-tiered warrants, the Company has created several new Preferred series of equity securities.
HWAL is considering a year end tender offer for all its currently issued and outstanding common stock. HWAL continues to work with the investment banking community and plans to release further detail regarding the structure and timing of the tender offer for all common shares and other anticipated benefits for all its shareholders.
HWAL has engaged one of the nation’s top auditing firms with intention to become fully reporting for future up-listing.
In January 2017, the company engaged Action Stock Agent Transfer www.actionstocktransfer.com, as their stock transfer agent replacing Cleartrust LLC. Action Stock Transfer’s knowledgeable staff has been involved in the securities industry for over twenty years and prides itself in providing full service stock transfer, custodial record keeping, and Edgar and other compliance and services efficiently.
HWAL is establishing its newest corporate executive offices in both New York and Washington DC.
Hollywall Music has released the “Soul of America – Celebration” music collector series featuring performances by recording legends: Ray Charles, James Brown, B. B. King, Barry White, Percy Sledge, Betty Everette, Count Basie, John Lee Hooker, Chuck Berry, Lena Horne, Etta James, Fats Domino, Sam and Dave, and Little Richard.
Soul of America is a planned two-hour live event television production originally scheduled to be taped from the National Museum of African American History and Culture during the recent 58th Presidential Inauguration rescheduled for Production and future network broadcast in June 2018.
Soul of America will celebrate and highlight the historic accomplishments of some of the world’s greatest sports, entertainment, business and political Legends of our time, “told thru the historic Lens of the Museum” with star- studded stage performances in dance, music and spoken word tributes, as well as recognize the tremendous growth of some of our nation’s great American cities, as told by the voices of America’s Mayors thru live and video presentations.
Scalar Analytics
The company has engaged Scalar Analytics, https://www.scalaranalytics.com/ to prepare a current Valuation report. Scalar will employ traditional valuation methods in determining an enterprise range of values including market, income, and cost valuation approaches. They will analyze the most current valuations of publicly comparable companies, valuation of comparable private acquisition and investment transactions, and the discounted cash flow valuation approach. Scalar is a full-service business valuation firm with a full range of services for tax, financial reporting, transaction advisory, and litigation purposes. Scalar is a leader in the valuation industry and have performed more than 3,000 independent valuation engagements for over 1,400 public and private companies across a wide range of industries including software, hardware, internet, mobile, medical device, retail and media.
Hollywall continues its global search in expanding its executive management team, board of Directors and Advisory Boards.
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 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. 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 because of a wide range of factors.