Hollywall Entertainment Inc (HWAL)

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Hollywall Entertainment, Inc to Recruit a Transition Team for Purposes of
Changing Name and Revamping Business Model and Brand
https://hollywall.com/hollywall-entertainment-inc-to-recruit-a-transition-team/

Hollywall Entertainment, Inc. (OTC PINK:HWAL) (“Hollywall”), a legacy entertainment company with an extensive catalog consisting of rights to 27,000 songs, announces it is creating a transition team (the “Transition Team”) which will play a significant role in guiding Hollywall’s transformation into a pure-play cutting-edge technology-driven company, while actively seeking sales and revenue from its music library (the “Library”).

Significant announcements are expected to be made starting this month regarding the latest opportunities to emerge for Hollywall.

In order to explore these new avenues and opportunities, Hollywall is assembling a diverse group of experts to serve on the Transition Team and bring fresh insights, strategic focus, knowledge, and contacts to help propel us to success. The Transition Team will be comprised of industry executives who have not previously worked with Hollywall, and will contribute to its rebranding, growth, and future positioning within one or more new technology industries.

As part of the transition plan, several actions are underway or will be taken, including among others:
1. Rebranding Hollywall, including changing its name, likeness, and image.
2. Retaining a new board of directors and a new management team to oversee the company’s future ventures.
3. The sale of the Library.
4. Endeavoring to identify one or more suitable merger and/or acquisition candidates.
Measures will be undertaken to improve Hollywall’s capital structure, which may involve retiring the company’s outstanding convertible debt, retiring the remaining preferred shares outstanding, a share buyback plan; and other actions to be disclosed in the future.

Hollywall’s Board of Directors (the “Board”) and current management (“Management”) have unanimously approved the plan to sell the Library and Management is in discussions with various interested parties. No sale will be made unless it is at a price and terms deemed sufficiently beneficial to Hollywall and its shareholders.

The Board and Management want our shareholders to know that Hollywall intends to provide a cash dividend to the shareholders with the net proceeds from a sale of the Library, and that Hollywall is actively and diligently pursuing efforts to grow and maximize shareholder value. Hollywall will endeavor to keep our shareholders abreast of new developments as they occur.