HHSE Form 10: Under The S.E.C. Microscope
Post# of 7510
Posted On: 02/03/2015 4:37:23 AM
HHSE Form 10: Under The S.E.C. Microscope
This is truly an epic and monumental time for HHSE and all it's shareholders.
HHSE took control of this stock back in 2010 via a stock swap merger. Unfortunately for HHSE, previous owners of this stock filed a 15-12G five years prior back in 2005. A Certification and Notice of Termination of Registration under Section 12(g) of the Securities Exchange Act of 1934 or Suspension of Duty to File Reports to the S.E.C. This made the stock Non S.E.C. Compliant.
Once HHSE took control of this stock (then Target Development Group TDGI), it quickly went to the top tier of OTC Pink Current Information status. HHSE even goes so far as to publish and publicize their Board of Directors Meeting Minutes to keep investors informed. As transparent as this is, it is not enough for HHSE. Via a Form 10 Registration Statement, HHSE is voluntarily moving to once again become SEC Compliant and Uplist to the OTC:QB Stock Exchange.
This is not a quick or easy process. It all comes under the direction and scrutiny of the S.E.C. The U.S. Securities and Exchange Commission in Washington D.C. governs the entire process. S.E.C is the Regulator and Overseer of the U.S. Stock Markets. The mission of the S.E.C. is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.
Even though Hannover House has been in operation for over 20 years (10+ years under current HHSE management), the company must still now jump though a plethora of hoops and meet S.E.C. dictated criteria. Basically, the S.E.C. is treating HHSE like a new company. They are requiring HHSE to make a myriad of public disclosures (including 2 years Financial Audits) in order to inform and protect investors.
What do we currently, factually know about HHSE that has been extensively documented on this board? Briefly:
* First action of new management Eric Parkinson and Fred Shefte was to deposit all Assets of the Hannover House Television & Film Library in TDGI Treasury (later independently valued $24,276,709), which benefited all TDGI shareholders as a TDGI owned Asset and TDGI Balance Sheet Item.
* Management themselves owned this Library free and clear, yet freely deposited it into TDGI, in exchange for 160,000,000 Common Shares of TDGI then valued at approximately .13 per share. This makes current management even today the 2 largest shareholders of HHSE.
* Management issued 1,000,000 Series A Preferred Stock. This Preferred Stock has no monetary value, only has voting rights. It is assumed so that current management always keeps control of the company, and puts in place a poison pill to avoid any hostile takeover attempts.
* Management inherited A/S of 10 Billion Shares, at suggestion of shareholders, voluntarily reduced A/S to 700 Million Shares.
* Management Surrendered HHSE stock shares they own (about 5,000,000 each), pending achieving performance milestones.
* Management Reduced their Annual Salaries from $180,000 by 50% down to $90,000 (After several years, just this year restored their full salary).
* Management has received little, if any financial compensation in 5 years of operations. Their salaries have been accrued and deferred.
* Management received FINRA Approval for Name and Stock Symbol changes to Hannover House (HHSE).
* HHSE CEO and President each filed Form 4's, for each purchasing 6,541,613 HHSE Common Stock @ .031 when the HHSE stock price was under .01
This is truly an epic and monumental time for HHSE and all it's shareholders.
HHSE took control of this stock back in 2010 via a stock swap merger. Unfortunately for HHSE, previous owners of this stock filed a 15-12G five years prior back in 2005. A Certification and Notice of Termination of Registration under Section 12(g) of the Securities Exchange Act of 1934 or Suspension of Duty to File Reports to the S.E.C. This made the stock Non S.E.C. Compliant.
Once HHSE took control of this stock (then Target Development Group TDGI), it quickly went to the top tier of OTC Pink Current Information status. HHSE even goes so far as to publish and publicize their Board of Directors Meeting Minutes to keep investors informed. As transparent as this is, it is not enough for HHSE. Via a Form 10 Registration Statement, HHSE is voluntarily moving to once again become SEC Compliant and Uplist to the OTC:QB Stock Exchange.
This is not a quick or easy process. It all comes under the direction and scrutiny of the S.E.C. The U.S. Securities and Exchange Commission in Washington D.C. governs the entire process. S.E.C is the Regulator and Overseer of the U.S. Stock Markets. The mission of the S.E.C. is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.
Even though Hannover House has been in operation for over 20 years (10+ years under current HHSE management), the company must still now jump though a plethora of hoops and meet S.E.C. dictated criteria. Basically, the S.E.C. is treating HHSE like a new company. They are requiring HHSE to make a myriad of public disclosures (including 2 years Financial Audits) in order to inform and protect investors.
What do we currently, factually know about HHSE that has been extensively documented on this board? Briefly:
* First action of new management Eric Parkinson and Fred Shefte was to deposit all Assets of the Hannover House Television & Film Library in TDGI Treasury (later independently valued $24,276,709), which benefited all TDGI shareholders as a TDGI owned Asset and TDGI Balance Sheet Item.
* Management themselves owned this Library free and clear, yet freely deposited it into TDGI, in exchange for 160,000,000 Common Shares of TDGI then valued at approximately .13 per share. This makes current management even today the 2 largest shareholders of HHSE.
* Management issued 1,000,000 Series A Preferred Stock. This Preferred Stock has no monetary value, only has voting rights. It is assumed so that current management always keeps control of the company, and puts in place a poison pill to avoid any hostile takeover attempts.
* Management inherited A/S of 10 Billion Shares, at suggestion of shareholders, voluntarily reduced A/S to 700 Million Shares.
* Management Surrendered HHSE stock shares they own (about 5,000,000 each), pending achieving performance milestones.
* Management Reduced their Annual Salaries from $180,000 by 50% down to $90,000 (After several years, just this year restored their full salary).
* Management has received little, if any financial compensation in 5 years of operations. Their salaries have been accrued and deferred.
* Management received FINRA Approval for Name and Stock Symbol changes to Hannover House (HHSE).
* HHSE CEO and President each filed Form 4's, for each purchasing 6,541,613 HHSE Common Stock @ .031 when the HHSE stock price was under .01
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