As required by the OTC Markets under the Guidelines for Current Reporting Status, Hannover House will release the Q3 financials today. We are pleased to report an increase in sales (Year-over-Year Q3, 2012) of sixty-one percent (61%)! Gross revenues for Q3, 2013 were $1,205,392 as compared to $746,376 for the same reporting period last year. Income, cash flows, balance sheet and other details will be included in the OTC Markets filing.
We will also be addressing updates on:
Lennon Bermuda - (CD and Book);
The Verdict - (Book and eBook);
December Shipments (for January New Releases: "Amityville Asylum" and "Blues for Willadean");
Audit Update (and specialty consulting firm);
It is possible, but still undetermined as of the posting of this Blog Update, that we may release news today about additional new title acquisitions and strategic partnerships. We thank those of you who have patiently supported Hannover House over the years, and we hope that our activities will help kick-start your Holiday Season in a positive direction.
UPDATE: 4:30 PM, FRIDAY, NOV. 15 -
1). Q3 FINANCIALS - An unresolved issue regarding how to properly apply international sales revenues is delaying the OTC Filing of the Q3 Financials; this issue will be resolved and the Q3 results will be posted shortly (possibly still today, but certainly prior to market open on Monday). Some of the International Sales net revenues generated during Q3 are pledged towards film production costs; as this is a new accounting issue for Hannover House, the proper application of the revenue portion and the production liability portions, needs verification from outside accountants. This issue will be resolved and incorporated within the balance sheets.
2). Q4 AND ANNUAL SNAPSHOT - As the Company is halfway through with Q4, it's possible to make a reasonable forecast of both revenues and margin from those revenues. Listed below is the results from the first three quarters, plus the projected end-of-quarter projection for the current period. The bottom line is a revenue increase year-over-year of about 42% for 2013 as compared to 2012; profit margins are essentially unchanged.
|2013 Sales & Income Worksheet|
|Period||Gross Sales||Profit Margin|
|Q1, March 31||$ 535,273.00||$ 432,090.00|
|Q2, June 30||$ 223,802.00||$ 39,377.00|
|Q3, Sept. 30||$ 1,205,392.00||$ 351,687.00|
|Q4, Projected||$ 1,410,000.00||$ 586,960.00|
|$ 3,374,467.00||$ 1,410,114.00|
All other issues mentioned in this mornings blog will be addressed within the Q3 OTC filings and compliance statements, or they will be updated separately on this blog if they are not addressed in the filings.