DBMM SHAREHOLDERS UPDATE – OCTOBER 25, 2021
Digital Brand Media & Marketing Group Inc’s (“DBMM”), (“the Company”) last Update of October 4, 2021, described the strategy and the current status following the PINK CURRENT status publicly acknowledged by OTC Markets on September 28, 2021.
The Company has several initiatives underway to return to normal trading and to normal business, following three (3) years of compliance in its SEC filings, one of the expectations of Gateway SEC criteria. The Company has stated that being fully reporting fulfils the financial public information requirement, thus the Caveat Emptor (CE) should be removed from the OTC site.
DBMM has assured its investors and supporters that it has met all the qualifications for Pink Companies and Pink Current status confirms that assertion, as extracted from OTC Markets Website: https://www.otcmarkets.com/
Facts and circumstances may differ, however generally, OTC Markets Group will remove the Caveat Emptor designation once the company meets the qualifications for https://www.otcmarkets.com/corporate-services/information-for-pink-companies, has verified the information on its company profile on http://www.otcmarkets.com, and demonstrates that there is no longer a public interest concern. The Caveat Emptor designation is typically not removed within the first 30 days. During the time it is labeled Caveat Emptor, any stock that is not in Pink Current Information will also have its quotes blocked on OTC Markets.
The last sentence is contradictory in that DBMM has already been designated Pink Current. Arguably, however, in the new regulations, the language states a 15c2-11 must be filed by a broker with FINRA in order to “begin or resume trading.”
For an abundance of prudence, DBMM can confirm to shareholders that discussions are underway for a very significant and well-regarded broker to prepare and file a 15c2-11 with FINRA on the Company’s behalf.
In order to expedite the process, DBMM intends to file its Annual Audit/10-K for fiscal year 2021 earlier than its due date of November 30, 2021, to focus that it is the third 10-K filed with the SEC since Judge Foelak’s Dismissal of November 12, 2019. It will then be in place, in advance, to include in FINRA’s requirement for current financial information available to the public.
DBMM Management has very strong support from its long-term investors and look forward to the collaboration to grow the business as we intended prior to the external mitigating circumstances which for years through the SEC Matter, litigation and a global pandemic caused damage and cost hundreds of thousands of dollars with a business plan in neutral. But we are almost at the finish line. Once these last hurdles are behind the Company, the outlook will be even further bolstered by this group of investors and the opportunities jointly executed.
Additional Updates will follow to share progress as it occurs.
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.