HPIL Holdings (HPIL)

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HPIL Management plans on utilizing the savings during this time to pursue the agenda for advancing the various HPIL subsidiaries. HPIL management is dedicated to utilizing our existing resources to initiate and grow revenues, generate new customers and proactively build the awareness of who we are and what we do. The Board of Directors has approved this action primarily as a cost reduction measure. Suspending and ultimately terminating the Company's SEC reporting obligations will allow it to reduce the substantial legal, accounting, and other expenses associated with reporting compliance and make those savings available for continued operation of the business”