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 20.1% in the forecast period. Growing investment in AI technology by enterprises of all sizes across industries to garner momentum in the next several years. Fortune Business Insights™ published this information in its recent report, titled "Artificial Intelligence Market Forecast, 2022-2029." As per the report, the global market size was USD 328.34 billion in 2021.
The global non-fungible token market size is expected to reach USD 211.72 billion by 2030, growing at a CAGR of 34.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing demand for digital art worldwide is one of the major factors driving the NFT (non-fungible token) market growth. Digital art is defined as the art that is displayed or created using digital technologies.
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 $105.41 billion in 2021 to $131.95 billion in 2022, as stated by Market Data Forecast. By 2026, this fintech industry is projected to grow to $324 billion at a compound annual growth rate (CAGR) of 25.18%.
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.
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