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VANCOUVER, BC, June 8, 2022 /PRNewswire/ -- HPIL Holding (the "Company") (OTC: HPIL) announces that it will be moving the shareholders meeting to June 16th at 2:PM PST to give the company more time to formulate its ongoing plans and announce more substantial factual information on what is transpiring with the company and its plans moving forward.
"We have been informed by the OTC that in order to have the BCSC cease trade order revoked they require HPIL to post audited annual financial statements. We are in the process of conducting the audit and fully expect it to be completed soon", said Stephen Brown CEO.
Additionally, on June 2, 2022, the Chief Executive Officer, and Chairman of the Board of Directors, Stephen Brown, presented a letter of termination to Mr. Lord Ferrox Tutinean due to Mr. Tutinean's failure to adhere to Mr. Tutinean's employment agreement and HPIL's policies. Further, the employment of Mr. Micheal Torrey has been terminated on the same day due to Mr. Torrey's failure to adhere to his employment agreement and HPIL's policies. Both Mr. Tutinean and Mr. Torrey have acted in manners against the Company and against the interests of the Company's shareholders.
"The company is aware of what is necessary for the company to be on track within the markets it is operating in such as EV, Gaming and Blockchain transactions. We expect to have a robust plan for this forthcoming conference call and truly appreciate the shareholder patience in a somewhat trying time, however myself and David Postula are diligently putting aggressive plans in to place", said Stephen Brown CEO.
HPIL next conference call will be on June 16th, 2022 Conference call link: https://www.hpilholding.ca/
Safe Harbor: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's SEC reports and filing.
SOURCE HPIL Holding