So much false information there, lets start with 1.
Here's the disclosure, Oct 23...
3). ACKNOWLEDGEMENT OF OFFICER 10(b)5-1 TRADING PLANS - The Board acknowledged that both Parkinson and Shefte have taken steps to register a total of five-million (5,000,000) shares each for placement and holding at Spencer Edwards, Inc. The prospective sale of any of these shares is subject to the share price and volume restrictions as prescribed in the 10(b)5-1Trading Plans governing this transaction, which have been properly filed with the Securities & Exchange Commission. Both Parkinson and Shefte expressed confidence that the Company's share price could improve quickly, based on current financing and operational activities, but that the minimum price levels governing the Trading Plans will prohibit the sale of shares unless, and until, the share price improves significantly. Contemporaneously, Spencer Edwards, Inc. has agreed to begin performing some of the stock support functions attributed to "market makers" for the Company's stock.
Here's the blog post announcement...Dec 23
Officer Share Update - pending Form 8 Filing
Dear HHSE Friends & Shareholders - In response to some shareholder inquiries, both Eric Parkinson and Fred Shefte wanted to provide advance notification that officer-owned shares - previously removed from Rule 144 Share Restriction and registered earlier this year with the S.E.C. - have expired and will be returned to restricted status for both Parkinson and Shefte. Each officer had previously filed a 10(b)5-1 Trading Plan, (which had been registered with the S.E.C.) to allow for the sale of 5-million shares each. These shares are now being returned, fully intact and unsold, for the holding accounts of Parkinson and Shefte.
Under Rule 144, officers and directors of publicly-traded companies may apply for a 10(b)5-1 Trading Plan to remove the sale restriction on up to 1% of the stock each quarter. Over the past four years, Parkinson and Shefte have sold less than 5-million shares each (from an initial issuance of approximately 160-million shares), reflecting their confidence in the long-term value of the HHSE equity.
The return of shares to restricted sale status will be reflected in a Form 8 filing for the Company, planned release next week.
and here's the 8k filed with the SEC...
Item 1.02
Termination of a Material Definitive Agreement. Hannover House, Inc. ("Company") has terminated a corporate financing agreement that had been previously entered into on August 13, 2013 with Greenwood Finance Group, LLC ("Greenwood"). The purpose of the agreement with Greenwood was to provide payables relief under a "Debt-Conversion" transaction for the benefit of qualified and eligible debt holders of Company. As a result of the termination of this agreement, a total of 6,200,000 shares of "unrestricted" stock will be immediately retired back into treasury stock of the Company, and removed from the market of issued shares. Company does not feel that the termination of this "Debt Conversion" transaction will have a materially, negative impact on current operations.
Separately, Company officers D. Frederick Shefte (President) and Eric F. Parkinson (C.E.O.) have each cancelled a previously announced and registered 10(b)5-1 Trading Plan transaction which would have facilitated the sale of up to five-million (5,000,000) shares for each officer. These shares will be converted back into Rule 144 Sale Restricted Shares for each of the officers.
As anyone can see, this was all done with absolute transparency.
