Dear Shareholders and Investors;
The purpose of this letter is to offer an update to shareholders on our pending DTCC issue that we’re all having to endure. I am currently working closely with a Market Maker who is working hand in hand with our attorney. The Market Maker and our attorney are compiling all of the information required to present to the DTCC. The DTCC has two agents working with our representatives to conclude this crucial matter. Unfortunately we are not being given a timeline as to end date for the resolution of this issue, so I can’t offer any timeline with confidence to any of you. I can assure each of you that a successful conclusion to this matter is a top priority and it will be resolved.
The Market Maker we’re working with is required by the DTCC to prepare and provide a full compendium of the due diligence findings of the overall company profile, where we were and the situations that caused the chill, and where we are today and the reasons to lift the chill- why Hall of Fame Beverages is no longer considered a liability. During this process, there are things that the attorney has to provide, as well as, our Transfer Agent. It addresses items such as share structure, current shareholders, current business and products. I also have to provide information such as an Executive Summary and a condensed business plan of our future. Once this is all compiled, it is sent to the DTCC for their review and recommendation. They may require us to do more, they may not. However, we are on the right track, and everyone involved is communicating daily to ensure that we’re being thorough and accurate and allowing us to see this issue through to completion with one submission of our information.
While we progress to satisfy the DTCC, we are still conducting business. Since this DTCC issue is by no fault of our shareholders or any brokerage firm, I cannot release any pending placement news until the issue is resolved so as to give all shareholders the opportunity to trade on the same news. I realize this poses debate and plenty of opinion; however, I have to do what is right by everyone. I have no doubt that once the DTCC issue is behind us and with the announcement of placement news, we will begin to trade again where we traded before this DTCC issue arose.
Finally, I would like to take an opportunity to correct some information we previously released stating the Lehigh Valley Restaurant Group’s Grand Opening of their 19th Red Robin location would be held on October 1, 2011. The Grand Opening will actually be held on October 3, 2011. I do apologize to The Leigh Valley Restaurant Group and all of you for the incorrect information we previously sent out, and I apologize for any inconvenience my error may have caused.
Jessica A. Gutierrez
President, CEO
Hall of Fame Beverages, Inc.
AI
