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Professional Wrestling Hall of Fame Board of Directors 712 8th Street, Suite 100 Wichita Falls, TX 76230 October 5, 2017 For Immediate Release: The Professional Wrestling Hall of Fame, like every other business and organization, has experienced problems. But, like every successful business and organization, the PWHF has dealt with its problems — not ignored them. The PWHF has recognized, addressed and properly resolved every difficulty it has encountered. Yesterday, the public was made aware of allegations regarding misapplication of PWHF funds. This problem was discovered by the PWHF Board of Directors — not by investigative reporters or law enforcement personnel — and the Board immediately took decisive action to fully resolve the problem (in a way that protects the PWHF) several weeks before the news articles. appeared. Again, the PWHF Board discovered the problem, addressed the problem, and fixed the problem in a manner that guarantees the PWHF will not incur any financial loss. ‘Are we happy about this? Certainly not. This episode has been embarrassing, to say the least, and will obviously have an adverse impact on our ability to raise funds (at least for a while). But we are grateful that the PWHF is protected from loss. Moreover, this incident has motivated the Board to impose tight financial controls to prevent a recurrence (either through deliberate theft or, as happened here, a fundamental lack of ability re: money management/bookkeeping). Finally, notwithstanding the difficulties we've encountered, we wish to point out that the PWHF has greatly exceeded the deadline goals that were laid down when PWHF moved to Wichita Falls from Amsterdam, New York in 2015. The hall is open five days a week staffed completely by volunteers. Renowned performers from across the globe have flocked to Wichita Falls for our two outstanding international induction ceremonies. Not only is the Professional Wrestling Hall of Fame open for business in a stand-out location, but it has already established itself as a singular tourist destination. And via our online operations, the PWHF of Wichita Falls has truly become world famous. We at the Professional Wrestling Hall of Fame are understandably proud of what we've accomplished in two short years, and we're very excited and optimistic about the “. Johnny Mantell IF Board President