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Wednesday, December 10, 2014

Late night for HHSE staffers...

UPDATE - 10pm Central Time  / Form 10 Marathon - Some of the Financial Tables and Exhibits on the HHSE Form 10 were in PDF format, which made the document look amazing - but we discovered today that PDF elements cannot be uploaded through MacReportMedia for Edgar submission. Accordingly, the problematic pages are being recreated into Word format and reincorporated in place of the PDF elements and documents.  The Library Summary is going to have to be significantly edited for expediency - down to just title, supplier and rights by media - as the PDF report (200+ titles) had detailed descriptions of synopses, cast, principal selling points, key art images and release histories.  This exhibit in its PDF form is eye-candy and a shame to be lost... but perhaps it can be posted soon to the HannoverHouse.com website or some other media other than the Form 10.  We hate to lose this visually impressive version of the Library report, but at this point for HHSE, the goal is to meet the Form 10 compliance requirements. No more, no less, and apparently, nothing in PDF format. The abbreviated version of the Library is now being re-created (in Word format) and should satisfy the disclosure requirement.

For those of you who have never filed a Form 10 Registration Statement, the inherent complexities are compounded when the business is NOT a start up (HHSE has been operating since 1993), when the absence of financial data for the "merger pubco entity" (Target Development Group, Inc.), mandated that the filing of a Form 10 be delayed until sufficient (auditable) pubco operating history was established, and when the CIK / S.E.C. Filer Number from the pubco entity have been restricted due to the Form 15 Termination filing.  None of the customary steps have been simple under the circumstances for Hannover House which are, yes, extremely unique - just like the value and opportunity with the company.  If HHSE were a brand-new start-up company with NO history, NO products, NO actual business and NO prior Termination filings, the Form 10 would have been a piece-of-cake to complete and file.

Quite possibly, some of the more vocal "habitual naysayers" will find any issues of delay, incompleteness, formatting or obstacles to be gleeful developments. The "bashers" won't acknowledge any of the Company's impressive successes, as the reality of Hannover's consistent and positive results conflicts with their agenda to artificially suppress the PPS (the basher stock manipulation efforts are discussed in detail in the Form 10 - along with the very welcomed support for HHSE from the FBI ). 

The road to completing the HHSE registration filing and market uplist has been long and challenging. Hannover House acknowledges that some shareholder criticism is valid, and significant impatience justifiable. As early as May, 2012, the Company technically COULD have initiated a Form 10 filing (as two years of auditable financials finally existed at that point in time). Earlier efforts to complete audits and to uplist could not be completed due to the missing and non-existent accounting support for TDGI prior to the HH merger. The management commitment for this project has always been there... but the priority for the task has not always prevailed over the day-to-day and quarter-by-quarter release activities and operational mandates.  Putting off the Herculean task of completing the Form 10 until "next week" or "next month" became easy to justify - with time-sensitive release schedules, filing deadlines and market commitments blazing with a more intense (and often mandatory) heat.

But we came through.  We took the time, allocated the staff and made the financial commitment to complete and submit a Form 10 Registration Filing - and to do so in a manner that conforms to helpful instructions provided to HHSE by the S.E.C. and Edgar staff.

While there will probably always be some decisions or activities of the Company that not all shareholders support, the focus of the past years' of vitriolic criticism and sophomoric attacks will need a new subject.  

For those of you who have supported HHSE these past four years, we thank you for your patience and hope that our current activities will enable the PPS to grow many-fold, in proportion to the true value of Hannover House.