Greetings HHSE Friends & Followers - Hannover House has completed the negotiations and now has a Full-Time CPA / Controller working on our team! The company has never had a CPA-level accountant on staff, especially someone with the Fortune 100 company experience of this new team member - and someone with this level of expertise in Sarbanes-Oxley procedures and PCAOB accounting requirements. We are honoring the "quiet period" from his prior employer before disclosing his identity and professional credentials in detail... but we have never been happier with such a crucial, strategic hire.
Over the past few months, HHSE has been frustrated with vague notes from the PCAOB auditors... who are prohibited from providing HHSE with directly specific instructions or advice on required changes. G.A.A.P. rules do not allow an auditor to opine on their own work. Accordingly, it's been frustrating for HHSE to keep making changes - and guessing at the meaning between vague comments - only to find out weeks later that we are still not satisfying the enhanced standards the the S.E.C. and FINRA that require of arms-length public company auditors.
Having an experienced CPA-level Controller on our team is a huge step towards conforming our reporting to satisfy the public company auditors. This individual started with HHSE as of yesterday (Monday, June 26) and he has already made huge progress in restructuring our chart of accounts, balance sheet and reporting formats. We should have these updates ready in the next few days, and we and will go-to-bat again with the auditors in our quest to file the Form 10 registration.
With Desiree Garnier overseeing MYFLIX, Chris Large overseeing Original Productions, and the new management team member as a CPA / Controller for financial management and reporting, this core team is just what HHSE CEO Eric Parkinson has hoped to hire for the past ten years.
IN OTHER NEWS: "My Secret Billionaire" (formerly known as "Homeless Billionaire") has surpassed the $1-million threshold in North American Streaming Revenues. Some HHSE Shareholders will recall that Hannover House released this film in June of 2016 in New York City - and set a HOUSE RECORD at the Regal E-Walk that has stood to this day. We then placed the title for V.O.D. streaming with VISION FILMS, and their placements have since crossed this impressive revenue threshold. Congratulations to real-life billionaire, Fraydun Manocherian, writer-director-producer of the film, and owner of the KIMBERLY HOTEL in New York (and many other buildings). Sometimes good things DO HAPPEN to good people!
Stay tuned...
