SHAREHOLDER UPDATE – MARCH 13, 2023
After a brief period of continued share momentum and the completion of the 2Q of our 2023 fiscal year , Digital Brand Media & Marketing Group, Inc. (“The Company” and “DBMM”), and its brand, Digital Clarity (“DC”) is sharing with shareholders, long-term investors, and supporters, the company perspective and more importantly, hard facts and context.
Following the last Shareholder Update on January 29th, the company has been moving ahead on a variety of different projects and initiatives, to return to normal business and beyond and normal trading following the removal of the Caveat Emptor (CE) on December 20, 2022 by OTC Markets.
The company’s operating business Digital Clarity is continuing to make inroads with existing and prospective clients addressing post-pandemic improvements in their customer digital experience through more sophisticated marketing. The company hopes to outline some of the positive news over the following weeks.
Initially with new clients particularly, we operate with an NDA as the strategy is intended to result in a competitive advantage. Our consultancy has enhanced its parameters post-pandemic achieving a “seat at the table” of a client’s decision makers, while the brand maintains “ROI is our DNA.” The clients receive a rebalanced, dynamic, transformational digital landscape .
On the outstanding SEC matter, it is inexcusable that the situation drags on over 3 years after the Dismissal of November 12, 2019. The Company has continued to maintain as stated in its last brief of March, 2021, that it has always been an enormous waste of resources on both sides. Continuing an overreach in the circumstance , once the late filings were cured , the mitigating circumstances acknowledged and compliance required confirmed, is unfair and potentially damages shareholders. Nevertheless, the Company has taken steps to protect its shareholders as stated in the Dismissal.
The Company was extremely disappointed to learn that The Commission had once again, determined, “at its discretion, to extend by 90 days to June 5, 2023. “ Conversely, the Company is concentrating on Uplisting to the OTCQB platform. One step at a time has served the Company well.
Since new Long Term Investors (LTIs) supported the Company since the Fall of 2017 to cure the SEC late filings and ensure financial support for the future way forward, the next step is Capital infusion for growth and potential future acquisitions. These current and potential partners all have different geographies and some are existing supporters of the business. It is important to the Company that LTI’s are like-minded with mutual objectives to benefit all stakeholders. NASDAQ is the ultimate objective, one step at a time.
All current and potential LTI’s see the value in a public company, with a future-facing operating business of coinciding activities, both pre and post OTCQB qualification and listing. Over $1,500,000 has been invested by the LTI’s for the health and compliance of DBMM.
It has been a short time since the CE was removed by OTC Markets and the Company’s next step is to improve its trading platform with an Uplisting to OTCQB, a more prestigious arena. The Company suggests shareholders consider the progress made already from sponsorship by a prospective, now the named, market maker via the Form 211 to FINRA to the removal of the CE after meeting the criteria of each step, to a decision to Uplist with all the boxes checked.
DBMM Management stands behind its results to this point and the patience required for the achievements thus far and going forward. There have been naysayers since the beginning of the mitigating circumstances who have damaged the Company and its shareholders, non-stop for years , despite the circumstances, many directed by others. That perhaps is the last mitigating circumstance to be eliminated. For now, simply ignore the misinformation and proven incorrect opinions.
Be assured the Company’s timeline is progressing with no missteps. We ask our shareholders to stay the course and have patience.
Preparation is beginning to file the 10-Q for 2Q2023 which the Company hopes to conclude before its due date of April 14,2023. Unfortunately the timing coincides with tax season for our service providers, but remains our objective.
As always, DBMM Management thanks all its stakeholders, investors, and supporters.
SAFE HARBOR PROVISIONS:
The foregoing contains certain predictive statements that relate to future events or future business and financial performance. Such statements can only be predictions, and the actual events or results may differ from those discussed due to, among other things, those risks described in DBMM’s reports filed with the SEC. Opinions expressed herein are subject to change without notice. This document is published solely for information purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy any securities in any state. Past performance does not guarantee future performance. Additional information is available upon request.