Business
Hannover House Announces January Launch of $8-mm Offering through S-1 Registration
Hannover House Announces January Launch of $8-mm Offering through S-1 Registration.
About this update from Hannover House, Inc.
[{"type":"text","content":"Independent film production and distribution company Hannover House, Inc. (OTC: HHSE) has announced a January 2020 filing for the company's first ever direct stock offering. The offering will seek to raise up to $8-million in working capital for the company through a S-1 Registration to sell shares directly to qualified investors. A total of 150-million common stock shares will be offered, with the first 50-million set at $.03 each, the second 50-million set at $.05 each and the final 50-million block set at $.08 each. Hannover House believes that the first block of shares – and a significant portion of the second block – will be quickly purchased based on existing discussions with investors and media companies.\"Hannover House has been publicly-traded now for ten years on the OTC Pinksheets exchange,\" said Eric Parkinson, C.E.O. \"During this time, we have discovered that many larger investors and institutions are hesitant to invest into Pinksheet listed equities. So, the filing of our registration statement, quickly followed by the S-1 offering, will provide much greater access to a larger pool of investors and shareholders, including media companies and funds from China that are looking at ways to improve their access into the USA market,\" he concluded.Proceeds from the S-1 offering will be utilized by Hannover House with a strictly adhered formula of 1/3 for new revenue ventures, 1/3 for the MyFlix streaming site and 1/3 for existing payables management.\"We have been advised to reinvest the majority of new proceeds from this offering into the development of MyFlix and other revenue producing operations. Both investors and regulators have indicated a preference to see that new investment into the company is being utilized primarily for growth,\" Parkinson continued.New revenue ventures for Hannover House include the multi-studio streaming site MyFlix – which will offer consumers many thousands of movies for streaming on either a \"per transaction\" model (ala Amazon), or a monthly subscription model (ala Netflix or Disney+). MyFlix is expected to have over 12,000 title in total during the first year, almost half of which are not currently available through any other North American streaming site. The company is also developing a slate of high profile, \"A\" star feature films which, except for...