UPLIST REGISTRATION - The dissolution with Crimson Forest will be completed this week, with a formal termination document that has been mutually approved, and a series of short-form terminations for the individual title agreements (as some had different licensors than Crimson Forest Entertainment Group, Inc.). This will also trigger the long-requested removal of HHSE management names off the Nevada Secretary of State listing as corporate officers. Part of the overall settlement with CRIM involves the reversion of rights in "Where's the Dragon" back to the original licensors... which is why this item has not appeared on any of the HHSE release schedules for the past four months. With the Crimson merger obstacle removed, the next steps for our uplist are as follows:
a). PRE-AUDIT - Completion of formatting and overview by outside CPA - covering 2015 Tax Returns, and the full years of 2016 and 2017. This step is expected to be completed this week, with the results handed over (along with the remainder of the audit materials) to our PCAOB firm.
b). UPDATED LIBRARY REPORT - This step is expected to be completed by Feb. 26, and provided to the auditors as the last item for full delivery.
c). REDRAFTED FORM 10 REGISTRATION - This is already completed, awaiting review by outside S.E.C. counsel, and the auditor's letters.
d). TIMING - Once filed with the S.E.C., the registration becomes effective on the earlier of 60 days, or S.E.C. approval. This will trigger our uplist to OTC: QB and the activation of stock share transfers electronically through the DTC. Management believes that being fully registered, and uplisted away from the Pinksheets, will spark a wave of new investors and funds.
