SHAREHOLDER’S UPDATE — NOVEMBER 2, 2022
Following the recent Shareholder Update by Digital Brand Media & Marketing Group, Inc. (“The Company” and “DBMM”), and its brand, Digital Clarity (“DC”) on October 27, 2022, announcing the successful clearance of Form 211 by FINRA. An update is now available.
The Company has focused on the removal of the CE since the Dismissal on November 12, 2019 by ALJ Carol Fox Foelak. The Dismissal is the Standing Order and the credentialed experts have agreed along the way to today.
As part of moving forward, the requirements to remove the CE have been discussed in minute detail with OTC Markets as the CE icon is solely under their purview.
The Company began the post-FINRA clearance dialogue less than a week ago after receiving “Congratulations “ for the enormous accomplishment of FINRA clearance and a US Market Maker named. There is information as a matter of course required for OTCM documentation. Different agency, same information, different format, but all doable, transparent, and checks each and every box. We are on it.
The material is being gathered in the format required for review and that will be the last step to conclude the process. The Company expects to turn over the material requested to OTCM, Issuer’s Services Division, today or tomorrow.
The first step following the amended 15c2-11 effective September 28, 2021, was to identify and begin to discuss with a sponsoring broker, the labor-intensive gathering of due diligence required. Shareholders surely remember the Updates and the patience required. That wait is over and FINRA clearance under Reg 6472 and 15c2-11 Compliance has occurred for our Pink Current Company.
For clarity and to quash misinformation that is being spewed, is also being documented and observed by third parties. Non-shareholders opinions which have no basis in fact are an exercise in desperation. Repeat: the removal of the Caveat Emptor follows a careful process. No amount of misinformation will change that.
The Company has followed all protocols as set out by the division and is now at the final stage, all final documentation post-FINRA clearing on October 26, 2022, will be submitted shortly. It is information already available, simply in a different format.
Repeat: The removal of the Caveat Emptor sits solely in the purview of OTC Markets, hence the protocol as set out by them and executed by The Company is rigidly followed and has been from the onset of this important project.
Repeat: “On 10/26/2022, FINRA processed a Form 211 relating to the initiation of priced quotations of DBMM, which means that the submitting broker-dealer has demonstrated to FINRA compliance with FINRA Rule 6432 and therefore has met the requirements under that rule to initiate a quotation for DBMM within four days of 10/26/2022. FINRA’s processing of a Form 211 in no way constitutes FINRA’s approval of the security, the issuer, or the issuer’s business and relates solely to the submitting broker-dealer’s obligation to comply with FINRA Rule 6432 and SEA Rule 15c2-11 when quoting a security”.
Patience is essential. The removal of the CE is a priority for the Management and the Company, so finally DBMM can get back to normal trading and normal business. Growth to follow.
DBMM is almost there. A big thank you to all shareholders, supporters, and LTIs. More to follow as soon as received.
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.