New Filing: Distribution Agreements, Acquisitions
Filing: Books, VODWiz, Distribution.Agreements, Acquisitions, Debt, Budget Bins
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ITEM 1 - MINUTES OF THE BOARD OF DIRECTORS MEETING OF AUG. 6, 2013
A regularly scheduled and properly noticed meeting of the Company's Board of Directors was held at 9:00 am on Tuesday, August 6, 2013 at the Company's principal headquarters in Springdale, Arkansas. The following minutes cover agenda items discussed, and where noted, acted upon by the Board of Directors.
1). APPROVAL OF BAKER & TAYLOR BOOKS VENTURE - The Board reviewed and unanimously approved the venture with Baker & Taylor Books (Charlotte, NC) to act as the Company's primary wholesale distributor of printed book products to bookstores, schools and libraries.
2). APPROVAL OF DOCUMENTS FOR VODwiz OUTPUT AGREEMENTS - The Board reviewed and unanimously approved the acquisition agreements representing the discussions already held for VODwiz partner studios, and authorized the addition of 50 or more titles per week to be added to the Roku and internet streaming portal as capacity with NTEK allows.
3). APPROVAL OF DVD / BLU-RAY DISTRIBUTION AGREEMENTS - The Board reviewed and unanimously approved two separate agreements with wholesale distributors, Allegro Distribution Group and Team Marketing / Waxworks, for the placement of selected Hannover House titles into Wal-Mart, SAMS, Costco, K-Mart, Target and Meijer's Group stores.
4). APPROVAL OF NEW ACQUISITIONS - The Board reviewed the production plans for the feature film "33 Days" starring Antonio Banderas (as Pablo Picasso) and Gwenyth Paltrow (as Dora Maar), and approved the terms of the agreement with the production licensor for Hannover House to handle the film in all media in North America. The Board also reviewed the releasing plans set forth for "The Lion Prince" and the star cast attached (as male and female narrators), and approved the terms of the agreement with the production licensor for Hannover House to handle the film in all media in North America (and to honor the requirement that the casting not be announced until the film is released to DVD and Blu-Ray, prior to "Black History Month" in February, 2014).
5). APPROVAL OF DEBT CONVERSION VENTURE - The Board reviewed the plan set forth by Fred Shefte to provide relief for key debtors, including Bedrock Ventures, Fantastic Films, National Bank of California and the Anderson P&A Loan. The proposed Debt Conversion structure would allow the Company to release small blocks of stock (through Graham Financial Services, Inc.) in order to generate payments for these key creditors and other qualified / aged debt holders. Shefte's plan calls for modest increments of stock - approximating ten percent of the monthly trading volume over a three or four month period - in order to enable the Company to otherwise operate without unreasonable risk to the shareholders or unreasonable dilution of the share structure. In respect of the limiting covenants of the TCA funding, and following a review of the Company's six-month projected revenue collections, the Board agreed to proceed with Shefte's debt conversion plan for small, increments of shares to be sold.
6). QUANTITY DISCOUNT STRUCTURE FOR WALMART BUDGET BINS - The Board reviewed and unanimously approved a quantity-discount pricing structure with selected Hannover House titles for placement into the Wal-Mart $5.00 Budget Bins, including Toys in the Attic, Zombie Warz and Grand Champion.
As there were no further issues requiring action by the Board of Directors, the Meeting was adjourned at 9:45 am, Central Standard Time.
Filing: Books, VODWiz, Distribution.Agreements, Acquisitions, Debt, Budget Bins
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ITEM 1 - MINUTES OF THE BOARD OF DIRECTORS MEETING OF AUG. 6, 2013
A regularly scheduled and properly noticed meeting of the Company's Board of Directors was held at 9:00 am on Tuesday, August 6, 2013 at the Company's principal headquarters in Springdale, Arkansas. The following minutes cover agenda items discussed, and where noted, acted upon by the Board of Directors.
1). APPROVAL OF BAKER & TAYLOR BOOKS VENTURE - The Board reviewed and unanimously approved the venture with Baker & Taylor Books (Charlotte, NC) to act as the Company's primary wholesale distributor of printed book products to bookstores, schools and libraries.
2). APPROVAL OF DOCUMENTS FOR VODwiz OUTPUT AGREEMENTS - The Board reviewed and unanimously approved the acquisition agreements representing the discussions already held for VODwiz partner studios, and authorized the addition of 50 or more titles per week to be added to the Roku and internet streaming portal as capacity with NTEK allows.
3). APPROVAL OF DVD / BLU-RAY DISTRIBUTION AGREEMENTS - The Board reviewed and unanimously approved two separate agreements with wholesale distributors, Allegro Distribution Group and Team Marketing / Waxworks, for the placement of selected Hannover House titles into Wal-Mart, SAMS, Costco, K-Mart, Target and Meijer's Group stores.
4). APPROVAL OF NEW ACQUISITIONS - The Board reviewed the production plans for the feature film "33 Days" starring Antonio Banderas (as Pablo Picasso) and Gwenyth Paltrow (as Dora Maar), and approved the terms of the agreement with the production licensor for Hannover House to handle the film in all media in North America. The Board also reviewed the releasing plans set forth for "The Lion Prince" and the star cast attached (as male and female narrators), and approved the terms of the agreement with the production licensor for Hannover House to handle the film in all media in North America (and to honor the requirement that the casting not be announced until the film is released to DVD and Blu-Ray, prior to "Black History Month" in February, 2014).
5). APPROVAL OF DEBT CONVERSION VENTURE - The Board reviewed the plan set forth by Fred Shefte to provide relief for key debtors, including Bedrock Ventures, Fantastic Films, National Bank of California and the Anderson P&A Loan. The proposed Debt Conversion structure would allow the Company to release small blocks of stock (through Graham Financial Services, Inc.) in order to generate payments for these key creditors and other qualified / aged debt holders. Shefte's plan calls for modest increments of stock - approximating ten percent of the monthly trading volume over a three or four month period - in order to enable the Company to otherwise operate without unreasonable risk to the shareholders or unreasonable dilution of the share structure. In respect of the limiting covenants of the TCA funding, and following a review of the Company's six-month projected revenue collections, the Board agreed to proceed with Shefte's debt conversion plan for small, increments of shares to be sold.
6). QUANTITY DISCOUNT STRUCTURE FOR WALMART BUDGET BINS - The Board reviewed and unanimously approved a quantity-discount pricing structure with selected Hannover House titles for placement into the Wal-Mart $5.00 Budget Bins, including Toys in the Attic, Zombie Warz and Grand Champion.
As there were no further issues requiring action by the Board of Directors, the Meeting was adjourned at 9:45 am, Central Standard Time.
