Business
Hannover House taps new advisors in anticipation of Stock Registration
Hannover House taps new advisors in anticipation of Stock Registration.
About this update from Hannover House, Inc.
[{"type":"text","content":"Hannover House, Inc. (OTC: HHSE) has engaged two professional service advisors to assist in general operational needs and other activities and reporting requirements relating to the company's upcoming filing of a Form 10 Registration Statement with the Securities and Exchange Commission.CPA Lisa Lashley Higgins has been engaged to review the company's books, records and financial filings covering the years 2015, 2016 and 2017, and to verify compliance with the needs set forth by the company's auditors. Attorney Steven H. Kay has been engaged to provide general transactional legal counsel, as well as filings relating to the elimination of contestable debts and prior litigation matters.Hannover House, Inc. shares are currently traded on the OTC Pinksheets market. Upon acceptance of the company's registration statement by the Securities and Exchange Commission, the company anticipates that its shares will be elevated for exchange under the OTC: QB moniker. Contemporaneously with the registration filing, Hannover House will take steps to have its shares cleared under DTC electonic means, which management feels is a further step towards improving access and liquidity to the company's shares.Hannover House was formed in 1993 as a book publishing house and has been operating continuously for the past 25-years. The company became publicly traded (as \"Target Development Group, Inc.\") in Dec. 2009, under a stock-for-stock swap structure with the principal Hannover House managers (Eric Parkinson and Fred Shefte) taking over managerial control. An investment agreement made in December 2009 with Bedrock Ventures was intended to provide the company with $1.5-mm in operating capital, but was only partially funded, resulting in two years of significant financial duress for Hannover House (2010 and 2011). The company has since retired over $5-million in debt and has refocused operations on higher-profile motion pictures, primarily those suitable for theatrical release. The company has not made any new stock-for-debt agreements in over 2-1/2 years, and has not issued any new shares since August, 2015, evidencing both the commitment to build shareholder value, as well as the internal capabilities to manage growth, operations and further debt reductions from cash flows, servicing fees and non-toxic funding structures.Recent prod...