Hollywall Entertainment Inc (HWAL)

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Hollywall Entertainment Inc. (HWAL) Issues Shareholder Letter and Provides Corporate Update
Press Release | 08/10/2023
WASHINGTON, DC / ACCESSWIRE / August 10, 2023 / Hollywall Entertainment Inc. (OTC Pink:HWAL) ("HWAL"), a prominent developer, telecommunications, technology, media, sports, entertainment, and broadcasting company, is pleased to issue a letter to shareholders from its President, Roxanna Green, outlining the company's recent activities and strategic advancements.

Dear Shareholders,

We are announcing a series of catalysts that will drive long-term shareholder value. Our priorities are developing new partnerships, joint ventures, and licensing agreements that will monetize our expanding entertainment network including the extensive music catalog ("the Catalog") of over 17,500 master recordings.

Latest Developments:

Share Cancellation & OS Reduction
Strategic Alliances
Music Assets Transaction
Strategic Investment
Share Cancellation & OS Reduction: This week, HWAL is successfully completing the cancellation and return of 51,082,262 common shares to the treasury, as part of its planned share reduction initiative. Upon completion of the process, the outstanding common shares will be reduced from 144,317,918 to 93,235,656 outstanding shares, enhancing the company's equity structure, and increasing shareholder value. The Company is also implementing further measures to further decrease the total number of outstanding common shares, to be announced soon.

Strategic Alliance: HWAL, in collaboration with LIG Assets, Inc. (LIGA), has established a groundbreaking Technology-driven Media and Entertainment company, "Ailiance, Inc" (https://ailiance.net). This strategic alliance is positioned to leverage the increasing demand for fresh music, television, film, and live entertainment content in the digital landscape. One of the primary strategic objectives of Ailiance is to pioneer innovative methods for monetizing HWAL's extensive music library. Shareholders of both HWAL and LIGA will receive a new stock dividend in Ailiance during the first quarter 2024. Link to PR dated 06/29/2023.

Music Assets Transaction: HWAL successfully completed a major transaction involving the sale of a portion of its entertainment and media assets, known as "the Catalog," to Melody Trust (https://melodytrust.com). With a confirmed fair value of approximately $146 million as of March 12, 2021, based on Sun Business Valuation's assessment, we have every reason to be confident in the growth potential of the Catalog. As a result, a stock dividend will be distributed to HWAL shareholders, granting them 1.3 Melody Trust Preferred B Series Shares for each HWAL common share held as of the record date, September 30, 2023. This initiative aims to create additional shareholder value and capitalize on the significant potential of music assets and NFTs. Link to PR dated 07/25/2023.

Strategic Investments: HWAL strategically invested in various ventures, including the purchase of a 12.5% ownership stake in the CBD ecommerce platform, www.cbdee.com, adding a promising potential revenue stream to the company's portfolio. Link to PR dated 05/10/2023.

Corporate Development: Over the past two years, HWAL has achieved significant milestones, including the engagement of the Company's PCAOB auditor to complete a 2 year audit, strengthening the company's financial transparency and positioning the Company for Uplisting to a listed exchange.. HWAL has also restructured as a holding company, assembled an experienced Board of Advisors, Compliance Committee, and Independent Auditing Committee, ensuring effective governance and regulatory compliance. We are currently reviewing and evaluating numerous companies for potential future acquisitions to provide increased revenue and earnings to the company.

MOU with StarGaze Entertainment, Inc: LIGA signed a Memorandum of Understanding to acquire Stargaze Entertainment Group, Inc ("STGZ"), intending to partner with Ailiance Inc. This move is aimed at expanding media assets and further positioning HWAL and its partners as key players in the entertainment industry. By identifying premier locations in the United States and Canada, with existing entertainment Real Estate assets and space for expansion, management will build the Stargaze brand into a Premier Family Entertainment Venue and Theme Attraction Company. Management is in final negotiations to acquire its first of several large multi-faceted Entertainment Real Estate properties to launch the Stargaze Live Entertainment and Studios brand. Link to PR dated 8/8/2023.

Upcoming Video Virtual Conference Call: September 14, 2023 1:30-2:00 PM EST. HWAL will present their strategic partners and Board of Advisors via Zoom and LinkedIn Live. Future Details can be found at HWAL's website, https://hollywall.com/

Goals and Final Thoughts:

In the second half of this year, HWAL has taken steps to advance swiftly in new tech industries such as AI, blockchain, NFTs and cryptocurrency, IOT, and 5G, and to present to the investor marketplace a compliantly restructured and equitably aligned public company.

While there are several significant milestones currently in progress that we are not yet ready to disclose, we are entirely optimistic about the direction of our business and the capability of our team to make our next-generation technologies an integral part of the future.

Your continued support is invaluable to us, and we eagerly anticipate sharing updates on our progress in the months ahead. Together, we will forge a path toward a prosperous future, fostering growth and value for HWAL and its esteemed stakeholders and shareholders.

Sincerely,