Saturday, February 24, 2018 2:49:12 PM
5/22/2017 – The Movie Studio, Inc. (OTC PINK: MVES) Engages PCAOB Auditing Firm to Proceed to Fully Reporting Status and Effectuate Agreement to Receive up to $5 Million Investment From GPL Ventures LLC
HALLANDALE BEACH, FL--(Marketwired - May 22, 2017) - The Movie Studio, Inc. ("MVES") (the "Company") (OTC PINK: MVES) The Movie Studio intends to proceed towards audited, fully reporting status as required with the filing of an S-1 Registration Statement with the SEC. As part of the process on May 17th, 2017, the Company entered into an engagement agreement with a PCAOB Member Accounting firm to audit the Company's 2015 and 2016 financial statements.
"We are taking the necessary steps to provide a higher level of transparency for our shareholders, investors and market makers as well as facilitate our executed agreement with GPL Ventures," stated Gordon Scott Venters, CEO of The Movie Studio Inc.
Pursuant to the executed Securities Purchase Agreement, the Company at its sole and exclusive option, may issue and sell to GPL shares of the Company's common stock equal to a value of up to Five Million Dollars ($5,000,000). The agreement requires that The Movie Studio file an S-1 Registration Statement and that it is deemed effective by the SEC qualifying the Company's Shares under Regulation A. Upon the S-1 Registration being deemed effective, the Company may now elect to trade on the OTCQB, OTCQX or other larger national markets subject to meeting minimum requirements.
In related news, on May 4th, 2017 OTC Markets announced that current Alternative Reporting Companies such as The Movie Studio are now eligible for the OTCQB Venture Market with the following requirements
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