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TCA Global news is out:
http://www.otcmarkets.com/stock/HHSE/news/Hannover-House-Closes--5-mm-Funding-with-TCA-Global?id=63996&b=y
Hannover House Closes $5-mm Funding with TCA Global
Jun 03, 2013
OTC Disclosure & News Service
Los Angeles, CA -
Hannover House, Inc., (OTC: HHSE) has announced the closing of a $5-million revolving credit line with TCA Global Credit Master Fund. The agreement with TCA enables the Company to borrow up to $5-million, based on a mutually approved formula of eligible receivables and assets. Hannover House has already received the initial tranche of funding, which will be utilized primarily for new title acquisitions and releasing costs.
The closure of the financing agreement with Hannover House follows the completion of TCA's review and verification of company assets and accounts receivable, including Hannover House's 175-title film library and historic and current sales activities of titles in that library. Hannover House will be announcing eight newly acquired titles over the next few weeks, all of which are expected to be released during this fiscal year.
The TCA funding agreement designates that the use of proceeds be earmarked for the creation of new sales and Accounts Receivable, and Hannover House is restricted from utilizing the funds for the retirement of existing debt. TCA will maintain and operate a bank account lock box for the collection and disbursement of company's accounts receivable, and will become the senior, secured lender for Hannover House.
"We are pleased to have completed this financing transaction with TCA," said Hannover House President, D. Frederick Shefte. "The availability of significant funding for new title acquisition and releasing costs creates stability for the company and the certainty of continued growth and market viability."
Hannover House is a full-service entertainment distributor, with activities in the production, acquisition and release of films, videos and publishing properties in the North American marketplace. The company was founded in 1993 and has operated continuously in the publishing arena, with DVD products added in 2002 and theatrically-released features added in 2005. The company is currently on schedule to release fourteen new titles to the USA home video market during the remainder of 2013.
SAFE HARBOR STATEMENT
This press release may contain certain forward-looking statements within the meaning of Sections 27A & 21E of the amended Securities and Exchange Acts of 1933-34, which are intended to be covered by the safe harbors created thereby. Although the company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no assurance that these statements included in this press release will prove accurate.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Fair enough Rub, hold out for .008 and I'll be adding with you. I don't think I missed a day in the past two weeks that I didn't add. My first stake was a modest position at .003 yet my average is now over a penny. Hope you catch some sub-penny shares with me.
We enjoy an amazingly stable S/S and incredible growth, not to mention positive net income. Suggest you take a peak at the fundamentals. Sure, it's possible that Danny may need capital to take us to the next level but shareholder value is his priority. Dial in on Thursday. GLTY.
Me too my friend - I'll add Beez, thatguy, Pandora and others with my appreciation. These folks know Bravada and the difference that Danny Alex can make. They get it. I'm also relatively new to BRAV (less than a year) but I am also convinced this is rare find. Welcome aboard.
Yes, however results trump the 200 MA and we've already had a significant pull back. We've retested the low .01s for the second time and sub-penny is very unlikely. Just too many interested buyers that want a piece of Bravada's future in my humble opinion.
Bid .012 1,325,000 - Ask .0125 127,370
Think we found support?
Indeed. Much ado about nothing. Yet I think a few more shares were locked away for the long term today. Can't wait for the cc next Thursday to hear Danny's update.
Yep, the 670k was clearly on the ask. It was a bit larger at first but I chunked off few 25k blocks from him before the 670k trade. Then POOF. One might speculate that the seller may have been trying to drive down the PPS to accumulate. Someone was flashing 1M and 2M sell orders on L2 today also. My guess is that was not a serious seller but who knows?
It's just fun bantering about a r/s - there's no reason to expect one. S/S is incredible stable and profits are growing. If PPS pulls back much more then the 2013 buy back just might commence. I don't think management has pulled the trigger yet.
I think Danny needs funds to grow BRAV to the next level. I anticipate some profits will be invested in Vivavusa, perhaps franchising, etc. It's a bit of a balancing act.
For what it's worth, you could have sold all day long for over .01 but no one's selling at this level. I tried to add today (as high bid) but no takers. Zero shares added.
I tend to agree with Now Invest that the we'll likely move north from here - with or without audit completion. It's all about value, IMHO.
Whether or not one believes the value of the booked inventory is anywhere close, the simple fact is that Eric is monetizing assets every day.
We'll see. Just offering my opinion.
Great idea Missy! Fun thought: a 100:1 R/S paves the path to the big board. ;)
We're on the same page bro. I'd kinda' like to see the PR stay quiet for the next few weeks. But I'm not flipping BRAV, just adding when I can. For me, I'm invested in Danny's leadership. It's all about results - past, present, and future.
Me too!
Wow! We might see a Form 4 filed for you guys if this keeps up. My shares pale in comparison but they are secure in the vault.
Still accumulating and actually added every day this week. Every buy is increasing my average cost.
Short interest reported today:
May 15, 2013 = 1,234,984 (PPS .0096)
Apr 30, 2013 = 1,209,523 (PPS .0087)
Apr 15, 2013 = 0 (PPS .0115)
http://www.otcmarkets.com/stock/HHSE/short-sales
Although it's a small share of the float I think it's significant to note that there are short side players. Pinks are great targets.
Someone is trading the short side and it might be working for now with the low buying interest lately. Days's to cover = 1.29.
It makes no sense to me to short HHSE under a penny. This guy probably knows that now. We've reversed the downtrend and trading has been thin. Any serious buying could quickly push us over 2c IMHO.
Just more buying opportunities if we don't:
Nice post "growth." I am often amazed at those that appear to have a downside interest in a company like Bravada. Apparently they have no idea what Danny is capable of accomplishing. One just needs to review our brief history. I'll be buying anything offered south of here. North also. IMHO.
Vik, sometimes I find us both in the same arena. Cool! I completely agree.
I also picked up smaller blocks throughout the day - some on the ask. TAKI, there's your buy for 290K at 14:00: http://ih.advfn.com/p.php?pid=trades&symbol=NO%5EBRAV . I don't hold as much as you but BRAV is now my heaviest investment and I'm accumulating. I'm happy to be on your side.
I speculate that the guy displaying 1 million on the ask today is attempting drive the price lower. I don't think this is selling from a retail account but someone who expects to drive the price back to .008ish level based on the historical chart. He may think we're developing a "head and shoulders." Perhaps he holds some short positions.
Probably about 99% of the pinks return to previous levels within a few weeks after a breakout like we've had. This trader likely doesn't care about BRAV fundamentals.
Nice Missy! I really like this chart. I appreciate your efforts sifting through the financials to summarize sales and earnings. Thank you!
Thank you Missy! The chart tells the great story. ;)
Suggestion: There's a great chart in the BRAV intro section that tracts Quarterly Sales and Net Income (great work!). It's now a few quarters behind. I think it's worth updating if the author has time. I mention this since it was such an attention grabber for me last year. It would also be nice to see it moved near the dilution chart. Just my thoughts and thanks to the author. (Is that you Missy?)
I'm not sure we're looking at the same HHSE chart but it looks to me that we broke the downtrend on Tues 5/14 and confirmed it on Wed with a bottom tail hammer. I'm not a technician but we've been closing higher each day. HHSE appears bullish to me.
I have more dry powder locked and loaded if your right. I more than doubled my position yesterday and a bit more today. I'm adding on pullbacks. My shares are locked up for the next few years. GLTA
Great day for HHSE. Reveals to me that most of the float is in solid hands and held by folks that realize value. We've been really thin on the ask side and poised to move north. Whatever short interest is still out there, it appears they're move concerned about covering in the sub-penny range than adding to short positions. JMHO.
GLTA.
Makes perfect sense Beez. The seller that started this down is not likely retail. Perhaps someone expecting to profit from the short side or accumulate from stop loss selling. Either way I appreciate this buying opportunity today.
There appears to some short interest in play. This is a bit new for BRAV since historical short interest has been insignificant. Yet, it's still a small percentage.
I can't imagine why anyone would short Bravada. I suppose almost any pink company with a PPS move like we've had would just attract folks expecting a parabolic return to previous price levels. Perhaps they've been right so far with this pull back but I don't think these levels will last.
Apr 30, 2013 = 890,039 short interest
Apr 15, 2013 = 9,562 short interest
http://www.otcmarkets.com/stock/BRAV/short-sales
I've been adding the last few days and will also welcome cheaper shares if we pull back further. I'm tucking these away in my retirement account. Just sharing an observation and humble opinion.
I think some folks are getting a bit nervous about the buying interest. Most days I am on the bid and accumulating. Now and then I get filled with modest amounts.
There is clearly some short interest that hopes to cover in the sub-penny range. A short squeeze is immanent and may have started today. We'll see. I have nothing for sale under a nickel.
I discovered that I only have one post per day on this board. I've asked why without a response. I suppose I am in opposition with other interests here.
So this is my post for Saturday, May 11.
There's some short interest in play and someone wants to cover in the sub-penny range. It's thinly traded and it appears to me we're pretty thin on the ask.
Apr 30 short interest = 1,209,523
Apr 15 short interest = 0
http://www.otcmarkets.com/stock/HHSE/short-sales
New blood. Yesterday my brother was picking my brain (at least what's left of it) asking about my best stock picks. So I replied BRAV is my best bet for a long term investment that will likely reward huge returns in the next few years. So I gave him a few simple reasons and he placed a buy order on his Android while I was talking. He'll be a shareholder on Monday morning. But hey, he's my bro and loves me.
We talked about silver, and several turn around companies but he just likes the Bravada story above the rest.
Thanks Dan. I am just looking for informative discussion. We needed this reminder.
What is the relevance of this Feb 2010 PR today?
I agree, it would be helpful to know what A/R's are beyond 60, 90, or 120 days. The game of the debtor is delay payment and the creditor to escalate collections. Mostly I would think the customer base is credible and I would anticipate short term financing would be doable.
The Apr 25 management discussion is worth a reread. It's apparent that A/R is hampering cash flow - not revenue, assets, or income. Just a suggestion.
That would be my best guess Beez; franchising was the first thing to come mind. Other ideas have been voiced here but moreover I thought this was a heads up to shareholders from Danny that there's a material reason to be patient now.
Oh, good point. I suppose if we value the our booked library inventory as stated than your 40-55 MM would be more reasonable. Yes, it's just a best guess discounting the library.
A sub-penny gift? I had hoped to add some at .008 - maybe tomorrow. I did add some .009's.
My simple back of the envelope calculations values net assets somewhere north of 12 MM market value if I throw out the movie library. Add in some fraction of the inventory that could be monetized and I'd guess we're a 25 - 35 MM company. Now, what's a reasonable multiple of earnings?
With the end of the day paint job at .0109, our market cap is about 5.3 MM.
I'm just not comfortable with HHSE trading under .03 - .05 so I see it as a buy opportunity for those with patience.
I would not be surprised to see a share buy back program this year if this PPS persists.
Nice post Alex.
New investors, I suggest you spend a hour with Danny Alex and listen to this interview from 03/06/12. This provides great insight into our leadership and direction.
What? Fewer OS shares will exist in the next few quarters but not from a R/S. Share buy back is in progress. I think Danny was pretty clear about this.
Why Shirley, you seem to make some sense out of this elusive share structure. But I still don't understand the float. I can't imagine that Greg entered into this blindfolded. It's been almost one year. Yet it's not unthinkable that he may have been misled. There are just too many questions yet unanswered. I'm invested in Greg. Other than Greg I see no reason to be here. Opportunities abound and timing is everything.