DBMM SHAREHOLDERS UPDATE – DECEMBER 16, 2021
DBMM SHAREHOLDERS UPDATE – DECEMBER 16, 2021
Following the last Shareholder update of November 23, 2021 and in line with the company’s intent to keep investors and shareholders updated on real news and facts, Digital Brand Media & Marketing Group, Inc. (“The Company” and “DBMM”), the Company is providing another update ahead of the holiday season and year end.
The Company is concluding the enormous, labor-intensive task of submitting the 15c2-11 to the broker who will be guiding it through the FINRA application to resume normal trading. Filing the 10-k almost a month early provided the most recent public information as required by the amended, post-September 28th regulations for the 15c2-11.
On a positive note, for the first time, on December 9, 2021 link “…the Commission … determined at its discretion… to extend by 90 days the period within which the decision in this matter may be issued.” The Company is delighted that the matter is finally scheduled following the briefings completed earlier this year. Everyone is encouraged to read Maranda Fritz’s brief of March 26, 2021 link which reinforces the Company’s compliance through the Corporate Finance review and approval in October, 2019, followed by Judge Foelak’s Dismissal on November 12, 2019. link
Since the Dismissal, the Company has filed three (3) 10-K’s and demonstrated its resilience during a lockdown of our operations in the UK during a protracted pandemic and the delays associated with the SEC Matter.
The Management believes it is fortuitous that the scheduling order dovetails with the Company’s 15c2-11 resumption of normal trading initiatives.
At this point, the Management continues to acknowledge its long-term investors and its shareholders who have been patient with external circumstances from its SEC (re)audit mandate which was the genesis of the delayed filings.
Hundreds of thousands of dollars have been spent on reaudits, litigation and curing those late filings, which could have been focused on growing the business as intended. Instead, the Management has been distracted, while tenaciously directing efforts toward resolution amidst the relentless misinformation by the same individuals who proudly state they are not shareholders, in order to negatively impact the public market.
Now that a schedule has been announced by the Commission, the Management will be reviewing its options to effectively expedite the process to bring the matter to a Final Order of the Dismissal. Due process can be exceedingly time consuming and we are proud of the Company’s efforts to return to normal business and the implementation of a post-pandemic business plan without distractions.
Digital Clarity’s business development efforts are reinforcing new client’s transformation and strategic redirection in the new economy. Our long-term investors will be instrumental in growing the business and retrenching the erosion of revenues as described in the 10-K’s MD&A.
The Management assures its investors and shareholders that positive initiatives are underway and we will keep you posted.
Best wishes for the holiday season to all and we look forward to a safe and prosperous New Year.
DBMM Management
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.