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Monday, June 30, 2014

Ahnume Business Consultants - NTEK and HHSE

Guest Blog this afternoon from ERIC PARKINSON, C.E.O. of Hannover House:

"Good afternoon HHSE Friends - There has been a lot of chatter (and some criticism) about the engagement last year of Ahnume Business Consultants and the issuance of restricted shares in HHSE in exchange for a laundry list of services.  The most notable achievement resulting from the Ahnume services was the introduction to Nanotech (NTEK) and their work in developing the operational infrastructure to enable VODwiz to go from 'great idea' to 'reality.'  As was stated in prior filings and updates, Hannover House was embarking on quite a journey with the logistical requirements of streaming movies simultaneously to thousands of consumers.  The cost to establish servers, switches and high-speed internet access was daunting, despite HHSE's close proximity to massive fiber-optic lines near the Tyson Foods world headquarters and the Walmart Stores data servers.  Having all of these issues - and costs - picked up by NTEK was a tremendous savings in time, money and logistics for HHSE.

The principal manager of Ahnume has requested that the anonymity as a business consulting group be protected.  HHSE has honored this request.

But to be clear, and as is stated in our Form 10 filing (and other applicable disclosures), the following facts are known and can be released regarding Ahnume Business Consultants:

a).  No officer, director, manager or affiliate (or any family members) of Hannover House are in any way associated with - or benefitting from - Ahnume.  Not myself, Eric Parkinson nor Fred Shefte, or other HHSE employees, family members, friends, etc., NONE are in any way involved with Ahnume. Period. That said, we think ALL shareholders will be benefitting from the launch of VODwiz and the other introductions and advice received through Ahnume. 

b).  To the best of our knowledge (and per a representation made by Ahnume), neither NTEK nor any of the NTEK partners, founders, former managers, are involved with Ahnume.

c).  Ahnume was incorporated in Wyoming specifically because HHSE is incorporated in Wyoming;  Ahnume stated to HHSE that by incorporating in Wyoming, they would be removing the issue of jurisdiction of governing law in the event of a dispute ever arising between HHSE and Ahnume.  It is HHSE's understanding that the primary location of Ahnume's activities and principals is in New York, and that Ahnume is essentially a 'special purpose entity' established for their work with HHSE.  The terms of service between HHSE and Ahnume have expired and no disputes are anticipated.

It is Hannover's opinion that the services provided by Ahnume were worth a tremendous amount to the company, certainly more than the face value of the restricted shares that were issued last year at the time of commencement of the services agreement.  Over the coming weeks, as the VODwiz platform is expanded to consumers (with our supplier studios added), the benefit from that one venture with NTEK will be evident to those who might criticize the venture as of today.  Ahnume also provided valuable introductions, insights and advice to HHSE management, which has been useful in the past year as the company implements major new ventures and changes to the structure of the business and operations.

* * * * *

If the goal of Fred Shefte and I was personal enrichment from HHSE, we would not be loaning personal cash to the business, deferring our salaries and forfeiting back stock shares to treasury.  We understand:  many Pinksheet managers are in the habit of "issuing" themselves new shares of common stock - but not at Hannover House.

Certainly, if self-enrichment were our goal, it would be easily achieved by simply issuing shares directly... and not through some complex and convoluted scheme to create a new entity to perform business consulting services.  Frankly, we think that the principal manager behind Ahnume MAY eventually want to step up and take credit for the introduction to NTEK - but only after VODwiz is a resounding success.  Meanwhile, we respect his request to not be harassed by shareholders, naysayers and other businesses that might also want access to capital and growth opportunities. 

.... back to work!"