Hollywall Entertainment Inc., (OTC:HWAL) Announces the Completion of its 2021 and 2020 Audit (s)
Rhea-AI Summary
Hollywall Entertainment Inc. (HWAL) has successfully completed its PCAOB audited financial statements for the fiscal years ending December 31, 2021, and 2020. This follows the previous completion for fiscal years 2019 and 2020. The company has applied for an uplisting to the OTCQB Venture Market. Additionally, HWAL has formed a new technology division focusing on investments and acquisitions in AI, Blockchain, NFT, Crypto, and Fintech sectors. The global AI market size is projected to grow significantly, reaching USD 1394.30 billion by 2029, while the NFT market could reach USD 211.72 billion by 2030. This positions HWAL favorably for future growth in these expanding markets.
Positive
- Successful completion of PCAOB audited financial statements for 2021 and 2020.
- Application submitted for uplisting to OTCQB Venture Market.
- Formation of new technology division targeting AI, Blockchain, NFT, Crypto, and Fintech.
- AI market projected to reach USD 1394.30 billion by 2029.
- NFT market expected to reach USD 211.72 billion by 2030.
Negative
- None.
News Market Reaction
On the day this news was published, HWAL gained 14.29%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
WASHINGTON DC / ACCESSWIRE / March 24, 2023 / Hollywall Entertainment Inc. (OTC Pink:HWAL), a multi-faceted developer, telecommunications, technology, media, sports and entertainment and broadcasting company, announces the successful completion of its Public Company Accounting Oversight Board United States (PCAOB) audited financial statements for fiscal years ending in December 31, 2021 and 2020. Furthermore, Hollywall has recently made its application to qualify for an uplisting to the OTC Markets Group's OTCQB Venture Market in the United States.
Previously, in June 2022, the company announced the completion of the (PCAOB) audited financial statements for fiscal year(s) ending in December 31, 2019 and December 31, 2020.
Earlier this week, HWAL announced it had formed a new technology division and intends to invest in and acquire operating companies in the AI, Data Center, Blockchain, NFT, Crypto, and Fintech Industries.
Through the new technology division, HWAL intends to complete the development of several proprietary networks that will incorporate Blockchain, AI, Non Fungible Technology (NFT), cryptocurrencies, and tokenomics into the development of the digital networks and marketplace platforms.
The global AI market size is projected to grow from USD 387.45 billion in 2022 to USD 1394.30 billion in 2029 at a CAGR of
The global non-fungible token market size is expected to reach USD 211.72 billion by 2030, growing at a CAGR of
The growing use of cryptocurrency globally is also anticipated to drive the growth of the market. This is because cryptocurrency is used by people to purchase digital assets. According to CoinMarketCap, as of February 2022, the total global capitalization of cryptocurrency is USD 1.76 trillion, making it equivalent to the world's 8th largest economy.
Fintech is rapidly reaching new heights as consumers continue to switch over from traditional in-person banking and embrace new solutions such as e-wallets, mobile banking, and cryptocurrency. In fact, in just one year, the fintech market grew from an estimated
About Hollywall Entertainment, Inc. Hollywall Entertainment, Inc. (OTC:HWAL) is a telecommunications, infrastructure, technology, media, sports and entertainment, and broadcasting company that operates through its various subsidiaries, including Hollywall Development Company (HWDC), and HW Vision Inc., and multiple divisions to include HW School of Communications, Hollywall Music, Hollywall TV, Hollywall Sports, HW Productions, HW Networks, HWRadio, HWGOV, and The Hollywall Foundation. HWAL continues to maximize rights to its music, film, television, home videos, and software game libraries. Hollywall owns exclusive and nonexclusive rights to market, manufacture and distribute music master recordings performed by legends such as Ray Charles, Ella Fitzgerald, The Jackson 5, Frank Sinatra, Dolly Parton, Elvis Presley, Tony Bennett, The Bee Gees, Chicago, The Platters, George Gershwin, Marvin Gaye, James Brown, The Who, Janis Joplin, Rolling Stones, Nat King Cole, John Lee Hooker, Willie Nelson, Rod Stewart, Hall and Oates, James Taylor, Etta James, Aretha Franklin, and other multiple-platinum-selling acts. Learn more at www.hollywall.com
Safe Harbor Forward-Looking Statements:
This press release and the statements of representatives of HWAL. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, HWAL's ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (Pink Sheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
CONTACT:
Hollywall Entertainment, Inc.
202-827-2220
info@hollywall.com
Corporate Communications:
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Investor Relations Contact:
SOURCE: Hollywall Entertainment, Inc.
View source version on accesswire.com:
https://www.accesswire.com/745456/Hollywall-Entertainment-Inc-OTCHWAL-Announces-the-Completion-of-its-2021-and-2020-Audit-s
FAQ
What recent financial audits has HWAL completed?
What market is HWAL applying to uplist?
What new division has HWAL formed?
What is the projected growth of the global AI market?
What is the expected size of the NFT market by 2030?
