SHAREHOLDER’S UPDATE —SEPTEMBER 12, 2022
Digital Brand Media & Marketing Group, Inc. (“The Company” and “DBMM”), and its brand, Digital Clarity (“DC”) continues its intention to keep shareholders, long-term investors, and supporters, periodically up to date with the company perspective. Our Updates usually follow SEC filings or time-sensitive events, while all stakeholders patiently await the return to normal business and long awaited, normal trading. The Company endeavors for all shareholders to be on the same page, while 10-Ks and 10-Qs fulfill all reporting requirements.
Following the last operating business update, Reggie James, the Founder and Managing Director of DC and the Chief Operating Officer and Director of DBMM said, “We remain confident that the company continues to move in the right direction, even with outside economic challenges, as described in previous updates and are pursuing genuine areas of interest, with existing customers and new prospects. The strategy has been tested and works. Nevertheless, it continues to be very frustrating for Management and Long-Term Investors that the intent to effect growth with new initiatives in the business, have to continue to be in neutral, until the CE is removed.
But perspective is required. James quite emphatically added: “It is worth reiterating what was stated again in the 3Q2022 MD&A, that we are taking a one-step-at-a-time approach, but incremental and positive. However slow, but steady to return to normal business, return to normal trading, and grow the business and concurrently grow the normal trading platform.”
Though often feeling like we’re going through Ground Hog Day, the Company was disappointed in the fourth Commission extension —a full year of wasted time—to December 5, 2022. It was not surprising, however. More perspective required.
The sponsoring broker’s Form 211 application to become DBMM’s Market having been submitted to FINRA and attesting to its having followed the new amendments of the 15c2-11 , is now nearing its conclusion. The CE will be removed following the process outlined, no longer a major distraction. Even more significant, the US-retail market will be open. That action alone protects shareholders as everything will fall into place.
In summary, Management encourages all stakeholders to continue to be patient, along with us, as all responsibility for OTC reporting has been delegated to OTC Markets as of September 28, 2021. As such, DBMM was acknowledged as “Pink Current,” while 2,000 companies were delisted for lack of public information. The Company has followed OTC Markets instructions, step-by-step.
In the interim, the Company has begun preparation for the 2022 10-K intending, mirroring the last fiscal year, to file the Annual Audit early.
The Company wishes to thank all shareholders and supporters once again, and looks forward to focusing on the future and announcing growth and capital infusion milestones, and sharing the results, with a clear path forward.
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.