BLOG: Shareholders-Meeting-April 12 3-pm; UPDATES; Form 10, S-1 Issuance
Wednesday, April 3, 2019
Important HHSE Updates re: Form 10 / Shareholder’s Meeting & More
Greetings HHSE Friends & Followers – It has been said that “you don’t need to brush ALL of your teeth… just the ones you want to keep!” Perhaps this sage advice should have been better heeded by CEO Eric Parkinson in his youth… as a lost filing in an upper left molar has expanded over the last few days into a painful gum infection, with oral surgery set for this Friday (April 5) in Fayetteville. As a result, the Annual General Meeting of HHSE Shareholders – set for 3-pm Central Time (from the Chicago Grand Hyatt) – must be postponed by a week, until Friday, April 12, 2019 (also at 3-pm). The rescheduled shareholder’s meeting will be live-streamed.
We sincerely, apologize to those shareholders that had already purchased airfares and hotel rooms in order to attend the April 5 meeting in Chicago. However, until you experience the debilitating pain from an infected dental nerve, you won’t fully understand the “torture scene” in the Dustin Hoffman 1976 film, The Marathon Man. Parkinson is quite incapacitated by this dental-infection ailment at present.
MORE UPDATES – The Company’s Annual Compliance Filing for the OTC Markets was completed and submitted on time, but not posted due to two issues. Firstly, the Company’s subscription access expired in late February, but the renewal invoice was never received by Hannover House (lost in the “change of address” mail issues). Next, we have been informed that our prior format for Annual Compliance Filings no longer meets new requirements for OTC Current Information Status. Accordingly, both issues are being addressed (the subscription renewal AND the additional disclosure information now required). Unfortunately, for the next couple of days, the “PINK CURRENT” symbol on the OTC Markets page has been temporarily replaced with the dreaded “STOP SIGN” symbol. Ugh.
FORM 10 – Management continues to resolve issues and obstacles for the Form 10 Registration filing. The Company’s intention and targeted goal since January was to file on or about this Friday; however, we are still resolving and revising several key issues that management prefers having addressed within the filing. There is a significant financing deal in progress for off-balance sheet funding of the MyFlix start-up and consumer launch, which financing significantly impacts the Company’s going-forward business model. It is management’s hope that this MyFlix financing structure will be finalized in the next few days. There are also legal issues that impact how some might view the Company’s status as a “going concern” – despite our 25-year history of navigating through and resolving such matters. The Legal Matters component of the Form 10 narrative discusses the Company’s strategy for resolving all legal matters. However, Counsel has advised that each of these actions should be taken now (immediately or within the next two weeks), in order to not telegraph and inadvertently self-sabotage these legal resolution strategies.
S-1 ISSUANCE – As disclosed previously, the Company has also stated its plan to file a S-1 Registration for stock shares to be issued following the Form 10 Registration. The goal is to raise (up to) $8-million in working capital for HHSE, by offering large blocks of shares directly to pre-qualified major investors (initially at $.03 per share, raising to $.05 per share and ending at $.08 per share). There is a potential issuance of 150-million shares in total (representing approx.. 13.6% of the total A/S, if fully subscribed). A portion of the S-1 proceeds will be utilized for debt-management. However, the vast majority of proceeds will be for new ventures and operations… to help move HHSE forward into the New Digital Era of Entertainment. It is management’s belief that the new business model of high-profile feature films, a major studio distribution partnership, and the MyFlix Streaming Service, will provide momentum and enthusiasm for the Company and will make the HHSE post-Form 10 stock an attractive investment.
http://hannoverhousemovies.blogspot.com/2019/...rm-10.html
HHSE
Wednesday, April 3, 2019
Important HHSE Updates re: Form 10 / Shareholder’s Meeting & More
Greetings HHSE Friends & Followers – It has been said that “you don’t need to brush ALL of your teeth… just the ones you want to keep!” Perhaps this sage advice should have been better heeded by CEO Eric Parkinson in his youth… as a lost filing in an upper left molar has expanded over the last few days into a painful gum infection, with oral surgery set for this Friday (April 5) in Fayetteville. As a result, the Annual General Meeting of HHSE Shareholders – set for 3-pm Central Time (from the Chicago Grand Hyatt) – must be postponed by a week, until Friday, April 12, 2019 (also at 3-pm). The rescheduled shareholder’s meeting will be live-streamed.
We sincerely, apologize to those shareholders that had already purchased airfares and hotel rooms in order to attend the April 5 meeting in Chicago. However, until you experience the debilitating pain from an infected dental nerve, you won’t fully understand the “torture scene” in the Dustin Hoffman 1976 film, The Marathon Man. Parkinson is quite incapacitated by this dental-infection ailment at present.
MORE UPDATES – The Company’s Annual Compliance Filing for the OTC Markets was completed and submitted on time, but not posted due to two issues. Firstly, the Company’s subscription access expired in late February, but the renewal invoice was never received by Hannover House (lost in the “change of address” mail issues). Next, we have been informed that our prior format for Annual Compliance Filings no longer meets new requirements for OTC Current Information Status. Accordingly, both issues are being addressed (the subscription renewal AND the additional disclosure information now required). Unfortunately, for the next couple of days, the “PINK CURRENT” symbol on the OTC Markets page has been temporarily replaced with the dreaded “STOP SIGN” symbol. Ugh.
FORM 10 – Management continues to resolve issues and obstacles for the Form 10 Registration filing. The Company’s intention and targeted goal since January was to file on or about this Friday; however, we are still resolving and revising several key issues that management prefers having addressed within the filing. There is a significant financing deal in progress for off-balance sheet funding of the MyFlix start-up and consumer launch, which financing significantly impacts the Company’s going-forward business model. It is management’s hope that this MyFlix financing structure will be finalized in the next few days. There are also legal issues that impact how some might view the Company’s status as a “going concern” – despite our 25-year history of navigating through and resolving such matters. The Legal Matters component of the Form 10 narrative discusses the Company’s strategy for resolving all legal matters. However, Counsel has advised that each of these actions should be taken now (immediately or within the next two weeks), in order to not telegraph and inadvertently self-sabotage these legal resolution strategies.
S-1 ISSUANCE – As disclosed previously, the Company has also stated its plan to file a S-1 Registration for stock shares to be issued following the Form 10 Registration. The goal is to raise (up to) $8-million in working capital for HHSE, by offering large blocks of shares directly to pre-qualified major investors (initially at $.03 per share, raising to $.05 per share and ending at $.08 per share). There is a potential issuance of 150-million shares in total (representing approx.. 13.6% of the total A/S, if fully subscribed). A portion of the S-1 proceeds will be utilized for debt-management. However, the vast majority of proceeds will be for new ventures and operations… to help move HHSE forward into the New Digital Era of Entertainment. It is management’s belief that the new business model of high-profile feature films, a major studio distribution partnership, and the MyFlix Streaming Service, will provide momentum and enthusiasm for the Company and will make the HHSE post-Form 10 stock an attractive investment.
http://hannoverhousemovies.blogspot.com/2019/...rm-10.html
HHSE
1
