HPIL HOLDING (OTC: HPIL) UPDATES SHAREHOLDERS
May 05 2022 - 09:00AM
InvestorsHub NewsWire
VANCOUVER, BC, CANADA -- May 5, 2022 -- InvestorsHub NewsWire -- HPIL Holding (OTC: HPIL) announces that as of May 2nd, 2022 the Company reached an amicable settlement with GPL Ventures LLC, GPL Management LLC, Alexander Dillon and Cosmin Panait (“GPL, et al”). Pursuant to the settlement, the complaint filed in the United States District Court Southern District of New York, Case Number 22-cv-02959 has now been dismissed.
“We feel the settlement is in the best interest of HPIL Holding and its Shareholders and will allow the company to focus on other possible settlements and its core business of moving the Company forward,” stated Stephen Brown, CEO of HPIL.
Mr. Brown further stated, “I would also like to take this opportunity to address the Company’s relationship with SRCO Accounting.”
The Company engaged SRCO Professional Corporation (“SRCO”) to assist management in preparing/drafting financial statements, based on the information provided by management of the Company, including advising on certain complex US GAAP accounting matters and related disclosures. The ultimate responsibility for the preparation of the financial statements is of the Company’s management (CFO/CEO) who has signed the relevant certifications in this respect. Accordingly, the Company named its CEO/CFO as the preparer of the financial statements in its fiscal 2021 OTC filing.
