Business
Resolution of Legal Obstacles Clears Path for Hannover House Registration Filings
Resolution of Legal Obstacles Clears Path for Hannover House Registration Filings.
About this update from Hannover House, Inc.
[{"type":"text","content":"FAYETTEVILLE, AR / ACCESSWIRE / September 27, 2021 / With two of three legal issues now settled or addressed, Hannover House, Inc. (OTC PINK:HHSE) projects a short timeframe for release of the company's long-awaited Form 10 Registration with the Securities and Exchange Commission, announced C.E.O. Eric Parkinson. The final remaining legal matter is scheduled to be addressed by corporate counsel through motions to be filed in California within the next two weeks, which will clear the path for the release of the company's registration statement. All three of the legal issues that had impacted the company's registration filing were "foreign default judgments" that occurred during the timeframe in 2018 that former HHSE President Fred Shefte was hospitalized and non-responsive to court deadlines."We see a quick resolution for this final legal matter," said Parkinson. "But we are not required to wait for the court to rule on final adjudication. We merely needed to show that the company has presented and filed strong responses. This will enable us to release the Form 10 registration and the companion filing of the S1 offering statement and implement our two-tiered business plan," he continued.Hannover House, Inc. will be launching a new multi-studio streaming service, MyFlix, as well as developing major feature productions with proceeds from a proposed S1 offering that will occur immediately after the filing of the Form 10 Registration with the Securities and Exchange Commission. The company will be offering 30-million shares at $.05 each initially, and 30-million more shares at $.08 as part of a three-tranche S1 offering to qualified investors. Hannover House has been in communication with major investors and media companies, and feels that there is strong support for the full subscription of these first two rounds of the S1.The launch of the MyFlix service requires a significant investment in consumer advertising and publicity which the company plans to finance with proceeds from the S1 offering. Accordingly, resolution of the legal issues impacting the filing of the Form 10 and S1 have been a priority for management over the past six months. Hannover House, Inc. has also been in development of a slate of high-end feature film productions, including two announced titles, "Meltdown" and "Th...