Hannover House Inc (HHSE)

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Notice what was omitted (not the items TCA noted in the complaint)? Hint, its a large liability that contributed to the precipitous drop in stock price. Take a look at Terry Johnson's settlement release by the SEC.

CURRENT LIABILITIES
Accounts Payable $ 148,522 465,906
Accrued Royalties 303,829 310,316
Acquisition Advances Due 187,450 515,980
Accrued Wages 0 8,670
Payroll Taxes Payable 5,585 28,100
Deferred Income Tax Payable 732,598 459,754
NB Cal AFIL P&A Loan 316,478 353,744
Hounddog P&A Note (Weinreb) 731,025 731,025
Interest on Weinreb note 139,437 90,154
Graham Financial Service note 80,000 80,000
Interest on Graham note 11,592 5,600
Bank of Fayetteville note 15,000 15,000
Interest on B.O.F. note 3,582 2,614

TOTAL CURRENT LIABILITIES 2,675,098 3,066,863

LONG-TERM LIABILITIES
Long-Term Payables 2,378,991 2,075,920
TCA Global Master Fund 300,000 0
Mortgage Note Payable 0 0
Executive Salary Deferrals 843,561 763,561
Officer Notes Payable 137,913 182,913