Hannover House Inc (HHSE)

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Status Of Completed Financial Audits




HHSE Financial Audits




Status Of Completed Financial Audits (February 23, 2014)


The Audits are still progressing with Hogan-Taylor LLP. The completed audit report binder, containing over 600 pages of financial data and supporting documentation, was made available for shareholders meeting attendee review; however, the audit opinion letter from Hogan-Taylor is not yet ready for release pending revision of the items / issues described at the meeting and below.

Back-Up Reports Still Required - on the Company's balance sheets, under assets, are three items for which the back-up support is extraordinarily complex and data intensive. These items are:

1.) Prepaid Producer Royalties

2.) Producer Marketing Recoupment

3.) Film Distribution Rights.


When the Company announced the Shareholder's Meeting, it was believed that the reallocation of payments could be completed faster than has proven to be the case. With over 20,000 invoices to review against payments, the company's new bookkeeper took 8-weeks just to complete the payments from 2012 - and he is now working on payments for 2013 and will move next to 2011 (so that the Company will have a full 3-years of Audits).







HHSE