Welcome to the Hannover House Investor Relations Blog

Thursday, December 18, 2014

Thursday Update

Good Morning - It would be an understatement to say that these are insanely busy days for HHSE.

We wanted to immediately address a shareholder concern - posted from an IHUB link this morning.

The IRS filed a levy against the former California corporation (Truman Press, Inc., dba Hannover House) for "unpaid 941 payroll estimates."  Essentially, when the company reincorporated Truman Press, Inc., in Arkansas in 2008, the California entity was abandoned.  However, this did not stop an IRS officer out there from "estimating" that payroll taxes "probably" were due, and proceeding with collections. 

We have since learned that notices were sent to the former P.O. box in California - and not forwarded to Arkansas.  So we had no prior knowledge that an arbitrary assessment had been made (and not contested) and that this has gone into collections.  We were informed that the IRS levy was filed last week in Arkansas after they researched where our business has been operating.  We have provided the IRS with proof that there were NO payroll taxes due under that entity (we use a payroll service under the FED EIN number for the Arkansas corporation).  The levy is being removed by the IRS and the release of Levy is being provided to Hannover House.

The amount being sought under the levy was based on an arbitrary assessment, not on an actual, unpaid obligation.  The total amount was $6,308 (pretty insignificant, but still distracting and annoying to have to remove).

The "naysayer" who gleefully posted the news of the Levy, neglected to list the insignificant amount of the levy.  How surprising.  Apparently, they follow the philosophy of "don't let facts get in the way of a false perception." Regardless, when the Release of Levy letters are provided to HHSE, we will post one of them here to evidence that what we have said above is fully accurate and truthful. 

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While it's tempting to watch Don Quioxte spend valuable time searching for Windmills to slay, for the sake of shareholder's who have actually DONE something productive with their lives, here's the IRS notices in this matter.  The Release of Levy letter is "in process" and will be filed once we receive it.

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FURTHER Update! Friday, Dec. 19 - For those of you who don't read corporate filings (or even our blogs), but instead rely upon the Monkey Feces that several like to post on the IHUB board, here's a quick recap of our corporate structure:

1).  Truman Press, Inc., dba "Hannover House" was a California Corporation registered in 1993.  The Federal Employer ID number is 95-445-1494.

2).  Hannover House, Inc., is a Wyoming Corporation, a successor to Target Development Inc., et al, registered in 1999.  The Federal Employer ID number is 91-1906973.

3).  The recently filed IRS Levy that Chicken Little seems insanely concerned with was filed in CALIFORNIA against the CALIFORNIA entity, Truman Press, Inc., d/b/a Hannover House, EIN 95-445-1494.  This is CLEARLY visible in the documents posted above. This California Levy against "Hannover House" (without the "Inc.") was recently filed in Arkansas.

4).  The IRS Levy is NOT against the public company, Hannover House, INC., EIN 91-1906973. 

5).  Truman Press, Inc., d/b/a Hannover House is a wholly owned corporation of Hannover House, Inc.  It has been maintained as an operating entity (but reincorporated into Arkansas) because some of the older film license agreements were made with that entity.  However, Truman Press, Inc. does not have a bank account and does not have employees.

6).  The "$0 Balance" letter posted yesterday DOES refer to the IRS Levy against Truman Press, Inc., which was filed for the periods of 3/31/2013 along with two quarters in 2014.  The point of posting the $0 balance letter as of 12/31/2013 was to show that even the IRS system had acknowledged that there was no balance due - and that LATER, an estimated amount was retroactively assessed.

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The reference to "Monkey Feces" relates to the story of the crowd of zoo donors who were watching the caged monkeys freaking out about whatever imagined issues were distressing to them.  One of the monkeys threw its feces though the bars and onto the nicely dressed crowd. This is what inspired the popular saying that "it's not wise to stand close to caged monkeys." 

Not wanting to accept the reality of the new era for HHSE, apparently some caged monkeys are starting to fling their crap. All our legitimate shareholders - those that have done something positive with their lives, and actually created a business or something of value - you are advised to ignore the little monkeys who live in Mom's basement and spend all day on stock chat boards... pretending that they're smart humans, but in reality, they're just stupid little monkeys that cannot read Corporate Filings or Federal Employer ID numbers.  Stand back, and don't let the crap soil your nice suits.