Hannover House Inc (HHSE)

[speckulater]

Status and Strategy for 2-Years of Audits





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http://www.otcmarkets.com/service-provider/Hogan-Taylor-LLP?id=2154






ITEM 5 Management Discussion Regarding the Status and Strategy Concerning the Completion of Two Years of Financial Audits for the Company.

The Principal Managers of the Company, specifically D. Frederick Shefte (President) and Eric Parkinson (C.E.O.) held a management meeting on Monday, Dec. 5, 2011, to discuss the status and strategy of the Audit project with Hogan Taylor.

Despite repeated calls, emails and written requests, the prior principals for the Company (i.e., managers leading up to the time of the acquisition of Truman Press, Inc. / Hannover House, which acquisitions occurred occurred in late 2009, effective as of Jan. 1., 2010), have not provided supporting accounting or bank records for the Y/E 12-31-2009 or for any prior reporting periods. Additionally, Company has since determined that prior management also failed to file corporate tax returns from which essential audit beginning points could be determined. Accordingly, it appears that sufficient data is not available for a full and complete audit of activities for Target Development Group, Inc. to occur for the periods prior to new management in 2010. In respect of the requirement for two (2) years of audited financials in order to comply with most standards of “fully-reporting” status or for eligibility of a market uplisting, management has determined that the best course is to perform the audits for the years ending 12-31-2010 and 12-31-2011 instead of the prior plan of including Y/E/ 2009 as one of the qualifying periods.

At present, all data and records for the Y/E 12-31-2010 have been compiled for Hogan Taylor. With respect to the Y/E 12-31-2011, records have also been prepared and assembled through 09/30/2011, and only four weeks remain in the current reporting quarter and year.

Therefore, in order to provide Hogan Taylor with sufficient supporting data for two (2) full years, the decision was made to complete the audits for the full years 2010 and 2011. In order to expedite the delivery of 2011 financials to Hogan Taylor, Company management will endeavor to complete the Q4 reports by Feb. 1, 2012.

Dec 6, 2011 - Management Discussion and Analysis - Update on Status and Strategy for 2-Years of Audits:
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=67229





TDGI/HHSE