Hannover House Inc (HHSE)

[MoneyMan]

Said a year ago.......

In respect of how unpopular stock issuances - O/S increases have been with everyone (except for the caged monkeys), the Company is instead consummating a receivables-backed credit facility. In order to proceed, the Company had to first free-up liens that were impacting our eligibility (as well as to address cash demands from the same impatient creditors whose liens were impeding the new credit line). That is why the Company did a "debt conversion" with JSJ Investments on December 9. It was painful - and highly unpopular with shareholders (except for the caged monkeys). If there had been another way to remove the liens, HHSE management would have done it. In any event...

...the credit line represents a "material development" that counsel said must be disclosed in the Form 10 Registration. While the Company will have the opportunity to make minor corrections in the registration statement for up to 60-days (such as correcting the number of employees, for example, or updating release dates), material activities such as a primary operating credit facility cannot be considered "after-thoughts" to address later.

Timing wise, the closure of the credit line is waiting on one document that Shefte and Parkinson expect to submit Monday morning (a revision of the Company's 2013 Income Tax Return - with activities and revenues from the affiliated corporations split apart from the filing for the pubco, Hannover House, Inc.). The new language, disclosures and details about the credit line issuer and venture are already drafted and incorporated into the Form 10 document. It is HHSE's goal to submit the Form 10 to MacReportMedia on Tuesday, with the plan of S.E.C. Edgar publication on 12-24-2014, as a great Holiday gift to all (except for the caged monkeys).

This years early holiday gift was telling everyone they lied all of 2014 and 2015 is now going to be included in fantasy Form 10.