Digital Brand Media and Marketing Group Inc (DBMM)

[Poo28]

Late filings only, then DBMM Motioned in response that there were mitigating circumstances as to why the Company was unable to file on time.

A sequence of mitigating external circumstances which were not in DBMM’s control:

SEC mandated Reaudit 3 years of filings because the Company’s Auditor was sanctioned , and although nothing to do with DBMM, all clients had to reaudit. This mandate occurred 2-weeks before the Company was about to file its annual 10-K, so a reaudit requirement made the Company immediately non-compliant.

Asher immediately sued because their debenture could not be converted because DBMM was non-compliant.

It cost DBMM $157,300. to reaudit 3-years, and litigation costs on top of that meant there was simply not enough resources to cover filings.

SEC filed an Administrative Proceedings because of delinquent filings because

Asher issued a false PR when they tried to steal the Company by taking over the operating affiliate in the UK, even though they had a Consent Decree with the SEC that they would not take any shares in a public company or its subsidiaries.

Super 10-k filed 5/31/18.

Settle with Asher at DBMM’s terms on 6/20/18.

DBMM filed on time since then.

Judge Foelak dismissed case 11/12/19.