NEW YORK, NY / ACCESSWIRE / June 21, 2022 / With compliance issues now resolved, Hannover House, Inc. (OTC:HHSE) has set Thursday, July 28 as the anticipated filing date for the company's Form 10-12(g) registration filing with the Securities and Exchange Commission. The July date was determined after conferring with Securities counsel and the auditor regarding the recommendation that the company's financials through June 30, 2022 be included in the registration.
"We have been assured that this is a realistic filing date, and one which will best position the company for limited comments from the S.E.C. regarding the registration," said Eric Parkinson, C.E.O. "Our S.E.C. registration has been a long-awaited and overly delayed process which has required the company to significantly modify our prior business model, resolve issues of concern and update our library and balance sheet items. Filing in late July will also enable us to promptly launch our MyFlix venture and deliver to our shareholders this important corporate benchmark."
Hannover House has been trading on the OTC Pinksheets Market since December, 2009. The company has a long-stated goal of moving up to the OTC: QB market for greater credibility and shareholder access. But prior efforts to file the company's registration were impeded by compliance to the many corporate rules and accounting requirements that are applicable to fully reporting companies.
"The company has delayed release of quite a bit of news this past year, primarily relating to MyFlix supplier studios, major venture partners and financing parties," said Parkinson. "We were advised that such information should be disclosed within our registration, or in the days immediately following publication as the registration filing is the catalyst to full execution of these ventures. Accordingly, the company will be unusually quiet for the next few weeks in terms of press, blogs and social media."
Recent news for Hannover House includes updates from the Cannes Film Festival and Market, news of current and upcoming productions, news of the U.S. Trademark approval for "MyFlix" and the addition of new MyFlix supplier studio partners. Current productions for the company include "WILDFIRE" and "COWBOYS OF CANNABIS" (now in final post), "LEGEND OF BELLE STARR" (now filming) and "MODERN ANTIQUITIES" (scheduled to shoot in November). These original productions provide operational funding for Hannover House, as well as enhance balance sheet asset value and titles for special MyFlix promotions.
"The Hannover House stock share price has suffered this past year," said Parkinson. "The compliance delays in filing our registration statement impeded our ability to launch MyFlix and led to some shareholders to lose patience. We are grateful and thankful for those that have persevered with Hannover House over the years as we build a better business model and complete our move to fully reporting status," he concluded.
Hannover House shares have traded in a very steady range over the past twelve-years, with pricing averaging at $.018 on an annualized basis. Share price fluctuations have ranged from slightly under a penny per share, to over six-cents per share during short term periods. Principal non-affiliate shareholders in Hannover House have publicly stated their belief that the registration of the company's shares should support an average share pricing level in the range of five-cents and that a successful launch of the company's multi-studio MyFlix streaming venture could dramatically elevate shareholder interest and pricing even higher.
"For the benefit of our many shareholders, we are hopeful that the stock predictions from these major stakeholders proves true," said Parkinson. "But as with all investments, market fluctuations and other factors can sometimes overpower logic, so it's important to note that Hannover House makes no representation, warranty or guarantee that the company's stock pricing will benefit as a result of elevating our registration stature to fully reporting status."
For more information contact: ERIC PARKINSON / [email protected] / 818-481-5277
SOURCE: Hannover House, Inc.