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Friday, November 02, 2018 4:02:05 AM
BLOG-10/21: MyFlix, Uplist UPDATES, $8,000,000 Cash Infusion; Origin Settlement
Sunday, October 21, 2018
HHSE - Nitty / Gritty of Operational & Legal Matters
Happy Sunday Evening to our HHSE Friends & Followers - In respect of the prolonged medical leave-of-absence for HHSE President Fred Shefte, addressing many of the operational and legal issues has been challenging and delayed. However, as requested (and as promised in a prior blog), updates on operational, corporate and legal matters are described hereunder.
1). RELEASE ACTIVITIES - As Shareholders know, it's the new release of films, video and digital streaming activities that provide the greatest cash flow / revenue-streams for HHSE under the current model of indie film distribution. While the company is transitioning to a different (two-tiered) model of major features and MyFlix, the current operations are stil being funded by the prior model business activities. Accordingly, activities for current and upcoming theatrical and video releases are an important part of the weekly planning at HHSE.
At present, the company has ONE (1) film in "ongoing" theatrical release (THE RIOT ACT) and ONE (1) film in limited theatrical release and prep for a wider opening (DOGPATCH U.S.A.). There is also a MAJOR title that the company is preparing for theatrical release in early February (500+ screens is the current plan), but that title is the first of the new model of bigger releases that HHSE management believes will transform the company's revenues and profile.
1a). THE RIOT ACT adds PHOENIX, TULSA and RUSSELLVILLE (Arkansas) this Friday (Oct. 26) - with PHILADELPHIA, DALLAS, HOUSTON, DENVER and SACRAMENTO added for Nov. 9 and NEW YORK CITY for Nov. 16. This period-thriller has played at 21 theatrical locations to date.
1b). DOGPATCH is planned for "regional" release in and around Arkansas, with New York and Los Angeles screenings added for awards eligibility.
1c). HOME VIDEO release of GETTING GRACE is November 6, with AMERICA UNITED and RIDE UNITED on December 4, and SLEEPER CELL: THE ALGERIAN on January 1st. Street dates for six additional home video releases are still being determined, but are expected to fall during Q1, 2019.
Tulsa's STARWORLD 20 will open THE RIOT ACT starting Friday, Oct. 26.
THE RIOT ACT Standees in the main lobbies of theatres have proven to be an effective tool in building awareness - and sometimes - generating impulse ticket sales from theatre attendees.
2). MYFLIX Updates - On-boarding of new releases titles continues to occupy the daily / weekly grind for MyFlix personnel. The venture received its first "a-okay" approval from Amazon last week, with the acknowledgment that the home-page build-out and infrastructure links conform to the data management and streaming requirements. This was a HUGE relief as it will enable sub-genre pages to now be designed and added, as well as system tests to commence.
It's interesting to watch as the digital-streaming of entertainment is slowly becoming the preferred viewing methodology for more and more consumers. As the demand for the streaming of digital content grows, we are beginning to see more "specialized" sites forming... designed to deliver one, specific genre' of programming (such as HORROR films, BRITISH CINEMA or MARTIAL ARTS).
Those that ignore history are doomed to repeat it... and we see a lot of similarities between the current proliferation of genre' specific streaming sites and the early days of the Dot-Com / E-Commerce Boom... where something as limited and specific as "TunaSandwich.com" was viewed as a viable venture... before it became clear that the survivors and winners were those following a business model much closer to MyFlix... e.g., a wide variety of programming from many studio supplier partners. With each new development in the digital streaming world, we grow more confident that our multi-studio / broad selection model for MyFlix is the winning formula.
Timing wise, we will be discussing internally the release of supplier studio news, sample site pages and marketing support campaign materials... all of which will tie into our consumer launch. Yes, we plan to launch in 2018, in answer to an oft-posed email question from Shareholders.
3). AUDIT / UPLIST - Fred Shefte is expected to be released from the hospital tomorrow night (Oct. 22). We have scheduled a meeting for Wednesday afternoon (Oct. 24) to review financial information and disclosures contained within the Form 10 Registration filing that the company has been preparing for S.E.C. Filing. Accordingly, and in respect of allowing Fred to review and comment, we will defer further updates until after this strategic meeting.
4). LEGAL ISSUES - Oct. 24, 25 and 26 will be active days for HHSE with respect to legal filings that have been delayed while awaiting the return of Fred Shefte to the office. Significant filings are being made with BEDROCK and JSJ that HHSE Counsel feels will result in immediate relief and long-term success for HHSE. The Bedrock matter will be re-opened for adjudication, including HHSE's demand for full payment of the $1.5-mm investment due to HHSE from Bedrock, as well as a demand for return of 200-million HHSE shares that were obtained under the integrated merger agreements, but for which no consideration was actually received. While HHSE does not believe that Bedrock will be physically capable of returning these 200-mm shares to HHSE Treasury Stock, the demand is an important part of the HHSE response. With respect to JSJ, due to HHSE's tender offer of the full repayment plus interest in CASH when the note was due, the entire JSJ note is likely to be rendered illegal and void. Additionally, the settlement made with Origin Releasing prior to the final court verdict in August, will be reaffirmed for the direct (actual) balance (plus $20k for legal costs) with a "super-judgment" amount held in abeyance as a velvet hammer to motivate HHSE's timely performance of the settlement (which will be paid off in monthly installments over the next ten months - or sooner at HHSE's discretion).
HHSE reminds longs that the stock-board xxxxxx have always been wrong with their claims that "the sky is falling" due to various legal matters over the the years... and reminds our shareholders that HHSE has always been proven 100% correct when disclosing that the occasional legal matters are not material threats to the company's ongoing operations or viability.
HHSE management feels that the company's new business model of higher profile films and MyFlix Streaming will result in far fewer producer disputes... as these new initiatives represent the dynamic forefront of the film distribution marketplace, as opposed to the lower-end of independent productions. It has been HHSE's experience that low-budgeted films are harder to sell that higher-profile releases... and that the program suppliers tend to be extremely high-maintenance in their unrealistic expectations (which is why some of the poorer-performing titles sometimes end up in litigation).
5). SNAPSHOT INTO Q1, 2019 - What is HHSE anticipating in the next coming quarter? With the Form 10 and MyFlix completed in the coming weeks, the foundation will be set for HHSE to step-up, full-speed, into the new business initiatives.
5a). MAJOR THEATRICALS - We anticipate a "major" theatrical release occurring during February 2019 (500+ screens). We believe that this title will be the first of FOUR (4) major films for HHSE to handle theatrically during 2019 - and that the revenue potential is in the multiple-millions.
5b). MAJOR PRODUCTIONS - We anticipate THREE (3) Major Productions will be fully funded during Q1 - with TWO of them going in to production on or before April 1, 2019. These titles have been structured to cover HHSE overhead and operating costs... as well as to generate lucrative distribution fees and theatrical marketing service income.
5c). MYFLIX GROWTH - With a monthly break-even of only 12,000 subscribers (at $8 each) or 30,000 total TVOD Transactions (or a mixture of both revenue streams), MyFlix is anticipated to be Cash-Flow Positive within 90-days of initial consumer launch. Comparable sites, such as Acorn.TV have over 700,000 monthly subscribers (generating almost $100-mm per year in gross subscription revenues). So, we are optimistic that MyFlix has the potential to be a major venture and cash-flow generator for HHSE as quickly as April of 2019.
5d). CORPORATE FINANCING - Discussions have been ongoing with several high net-worth investors and funds to finance a "shelf-registration" for HHSE following the Form 10 Registration. At a target price of $.10 per share, HHSE could receive a direct cash infusion of up to $8-mm for a 10% stake from these long-term strategic sources... providing liquidity and opportunity that the company has literally never enjoyed. With the company being fully reporting, having shed the majority of debts currently being carried on the balance sheet, having new success with higher-profile theatrical releases and productions... and making consumer waves and revenues through MyFlix... the timing for a major raising in early 2019 may make a lot of sense... stay tuned!
http://hannoverhousemovies.blogspot.com/2018/10/hhse-nitty-gritty-of-operational-legal.html
Origin (Nuisance) Lawsuit: HHSE Disputed Math/Contract Terms, Prevailed/Settled
* Origin Lawsuit was Settled by Mutual Agreement prior to final court verdict August 8.To be Reaffirmed.
* Amounts actually due/owed, NOT hundreds of thousands of dollars non-existent royalties as first sought. Exact amount not disclosed.
October 21, 2018
4). LEGAL ISSUES - Oct. 24, 25 and 26 will be active days for HHSE with respect to legal filings that have been delayed while awaiting the return of Fred Shefte to the office. Significant filings are being made with BEDROCK and JSJ that HHSE Counsel feels will result in immediate relief and long-term success for HHSE. The Bedrock matter will be re-opened for adjudication, including HHSE's demand for full payment of the $1.5-mm investment due to HHSE from Bedrock, as well as a demand for return of 200-million HHSE shares that were obtained under the integrated merger agreements, but for which no consideration was actually received. While HHSE does not believe that Bedrock will be physically capable of returning these 200-mm shares to HHSE Treasury Stock, the demand is an important part of the HHSE response. With respect to JSJ, due to HHSE's tender offer of the full repayment plus interest in CASH when the note was due, the entire JSJ note is likely to be rendered illegal and void. Additionally, the settlement made with Origin Releasing prior to the final court verdict in August, will be reaffirmed for the direct (actual) balance (plus $20k for legal costs) with a "super-judgment" amount held in abeyance as a velvet hammer to motivate HHSE's timely performance of the settlement (which will be paid off in monthly installments over the next ten months - or sooner at HHSE's discretion).
HHSE reminds longs that the stock-board xxxxxx have always been wrong with their claims that "the sky is falling" due to various legal matters over the the years... and reminds our shareholders that HHSE has always been proven 100% correct when disclosing that the occasional legal matters are not material threats to the company's ongoing operations or viability.
http://hannoverhousemovies.blogspot.com/2018/10/hhse-nitty-gritty-of-operational-legal.html
August 8, 2018
Quick update on ORIGIN matter
Greetings HHSE Friends & Followers - we are pleased to announce that the Origin lawsuit has been settled by mutual agreement on day two of the non-jury trial in Dallas. HHSE was combatting a claim by Origin Releasing (successor to Studio 3 Entertainment) which was seeking hundreds of thousands of dollars for what HHSE disputed as non-existent royalties for sales that did not occur or amounts were being sought that did not conform to the contract terms. This was the fourth producer lawsuit in the past two years that HHSE has disputed based on math and on contract terms. In each case, HHSE has either prevailed or settled for actual amounts due.
In 25-years, HHSE has had to deal with 11 lawsuits from producers out of 455 total titles - earning HHSE the distinction of being the least likely company to be sued by producers out of all full-service indie distributors in the North American marketplace.
http://hannoverhousemovies.blogspot.com/2018/08/quick-update-on-origin-matter.html
HHSE
Sunday, October 21, 2018
HHSE - Nitty / Gritty of Operational & Legal Matters
Happy Sunday Evening to our HHSE Friends & Followers - In respect of the prolonged medical leave-of-absence for HHSE President Fred Shefte, addressing many of the operational and legal issues has been challenging and delayed. However, as requested (and as promised in a prior blog), updates on operational, corporate and legal matters are described hereunder.
1). RELEASE ACTIVITIES - As Shareholders know, it's the new release of films, video and digital streaming activities that provide the greatest cash flow / revenue-streams for HHSE under the current model of indie film distribution. While the company is transitioning to a different (two-tiered) model of major features and MyFlix, the current operations are stil being funded by the prior model business activities. Accordingly, activities for current and upcoming theatrical and video releases are an important part of the weekly planning at HHSE.
At present, the company has ONE (1) film in "ongoing" theatrical release (THE RIOT ACT) and ONE (1) film in limited theatrical release and prep for a wider opening (DOGPATCH U.S.A.). There is also a MAJOR title that the company is preparing for theatrical release in early February (500+ screens is the current plan), but that title is the first of the new model of bigger releases that HHSE management believes will transform the company's revenues and profile.
1a). THE RIOT ACT adds PHOENIX, TULSA and RUSSELLVILLE (Arkansas) this Friday (Oct. 26) - with PHILADELPHIA, DALLAS, HOUSTON, DENVER and SACRAMENTO added for Nov. 9 and NEW YORK CITY for Nov. 16. This period-thriller has played at 21 theatrical locations to date.
1b). DOGPATCH is planned for "regional" release in and around Arkansas, with New York and Los Angeles screenings added for awards eligibility.
1c). HOME VIDEO release of GETTING GRACE is November 6, with AMERICA UNITED and RIDE UNITED on December 4, and SLEEPER CELL: THE ALGERIAN on January 1st. Street dates for six additional home video releases are still being determined, but are expected to fall during Q1, 2019.
Tulsa's STARWORLD 20 will open THE RIOT ACT starting Friday, Oct. 26.
THE RIOT ACT Standees in the main lobbies of theatres have proven to be an effective tool in building awareness - and sometimes - generating impulse ticket sales from theatre attendees.
2). MYFLIX Updates - On-boarding of new releases titles continues to occupy the daily / weekly grind for MyFlix personnel. The venture received its first "a-okay" approval from Amazon last week, with the acknowledgment that the home-page build-out and infrastructure links conform to the data management and streaming requirements. This was a HUGE relief as it will enable sub-genre pages to now be designed and added, as well as system tests to commence.
It's interesting to watch as the digital-streaming of entertainment is slowly becoming the preferred viewing methodology for more and more consumers. As the demand for the streaming of digital content grows, we are beginning to see more "specialized" sites forming... designed to deliver one, specific genre' of programming (such as HORROR films, BRITISH CINEMA or MARTIAL ARTS).
Those that ignore history are doomed to repeat it... and we see a lot of similarities between the current proliferation of genre' specific streaming sites and the early days of the Dot-Com / E-Commerce Boom... where something as limited and specific as "TunaSandwich.com" was viewed as a viable venture... before it became clear that the survivors and winners were those following a business model much closer to MyFlix... e.g., a wide variety of programming from many studio supplier partners. With each new development in the digital streaming world, we grow more confident that our multi-studio / broad selection model for MyFlix is the winning formula.
Timing wise, we will be discussing internally the release of supplier studio news, sample site pages and marketing support campaign materials... all of which will tie into our consumer launch. Yes, we plan to launch in 2018, in answer to an oft-posed email question from Shareholders.
3). AUDIT / UPLIST - Fred Shefte is expected to be released from the hospital tomorrow night (Oct. 22). We have scheduled a meeting for Wednesday afternoon (Oct. 24) to review financial information and disclosures contained within the Form 10 Registration filing that the company has been preparing for S.E.C. Filing. Accordingly, and in respect of allowing Fred to review and comment, we will defer further updates until after this strategic meeting.
4). LEGAL ISSUES - Oct. 24, 25 and 26 will be active days for HHSE with respect to legal filings that have been delayed while awaiting the return of Fred Shefte to the office. Significant filings are being made with BEDROCK and JSJ that HHSE Counsel feels will result in immediate relief and long-term success for HHSE. The Bedrock matter will be re-opened for adjudication, including HHSE's demand for full payment of the $1.5-mm investment due to HHSE from Bedrock, as well as a demand for return of 200-million HHSE shares that were obtained under the integrated merger agreements, but for which no consideration was actually received. While HHSE does not believe that Bedrock will be physically capable of returning these 200-mm shares to HHSE Treasury Stock, the demand is an important part of the HHSE response. With respect to JSJ, due to HHSE's tender offer of the full repayment plus interest in CASH when the note was due, the entire JSJ note is likely to be rendered illegal and void. Additionally, the settlement made with Origin Releasing prior to the final court verdict in August, will be reaffirmed for the direct (actual) balance (plus $20k for legal costs) with a "super-judgment" amount held in abeyance as a velvet hammer to motivate HHSE's timely performance of the settlement (which will be paid off in monthly installments over the next ten months - or sooner at HHSE's discretion).
HHSE reminds longs that the stock-board xxxxxx have always been wrong with their claims that "the sky is falling" due to various legal matters over the the years... and reminds our shareholders that HHSE has always been proven 100% correct when disclosing that the occasional legal matters are not material threats to the company's ongoing operations or viability.
HHSE management feels that the company's new business model of higher profile films and MyFlix Streaming will result in far fewer producer disputes... as these new initiatives represent the dynamic forefront of the film distribution marketplace, as opposed to the lower-end of independent productions. It has been HHSE's experience that low-budgeted films are harder to sell that higher-profile releases... and that the program suppliers tend to be extremely high-maintenance in their unrealistic expectations (which is why some of the poorer-performing titles sometimes end up in litigation).
5). SNAPSHOT INTO Q1, 2019 - What is HHSE anticipating in the next coming quarter? With the Form 10 and MyFlix completed in the coming weeks, the foundation will be set for HHSE to step-up, full-speed, into the new business initiatives.
5a). MAJOR THEATRICALS - We anticipate a "major" theatrical release occurring during February 2019 (500+ screens). We believe that this title will be the first of FOUR (4) major films for HHSE to handle theatrically during 2019 - and that the revenue potential is in the multiple-millions.
5b). MAJOR PRODUCTIONS - We anticipate THREE (3) Major Productions will be fully funded during Q1 - with TWO of them going in to production on or before April 1, 2019. These titles have been structured to cover HHSE overhead and operating costs... as well as to generate lucrative distribution fees and theatrical marketing service income.
5c). MYFLIX GROWTH - With a monthly break-even of only 12,000 subscribers (at $8 each) or 30,000 total TVOD Transactions (or a mixture of both revenue streams), MyFlix is anticipated to be Cash-Flow Positive within 90-days of initial consumer launch. Comparable sites, such as Acorn.TV have over 700,000 monthly subscribers (generating almost $100-mm per year in gross subscription revenues). So, we are optimistic that MyFlix has the potential to be a major venture and cash-flow generator for HHSE as quickly as April of 2019.
5d). CORPORATE FINANCING - Discussions have been ongoing with several high net-worth investors and funds to finance a "shelf-registration" for HHSE following the Form 10 Registration. At a target price of $.10 per share, HHSE could receive a direct cash infusion of up to $8-mm for a 10% stake from these long-term strategic sources... providing liquidity and opportunity that the company has literally never enjoyed. With the company being fully reporting, having shed the majority of debts currently being carried on the balance sheet, having new success with higher-profile theatrical releases and productions... and making consumer waves and revenues through MyFlix... the timing for a major raising in early 2019 may make a lot of sense... stay tuned!
http://hannoverhousemovies.blogspot.com/2018/10/hhse-nitty-gritty-of-operational-legal.html
Origin (Nuisance) Lawsuit: HHSE Disputed Math/Contract Terms, Prevailed/Settled
* Origin Lawsuit was Settled by Mutual Agreement prior to final court verdict August 8.To be Reaffirmed.
* Amounts actually due/owed, NOT hundreds of thousands of dollars non-existent royalties as first sought. Exact amount not disclosed.
October 21, 2018
4). LEGAL ISSUES - Oct. 24, 25 and 26 will be active days for HHSE with respect to legal filings that have been delayed while awaiting the return of Fred Shefte to the office. Significant filings are being made with BEDROCK and JSJ that HHSE Counsel feels will result in immediate relief and long-term success for HHSE. The Bedrock matter will be re-opened for adjudication, including HHSE's demand for full payment of the $1.5-mm investment due to HHSE from Bedrock, as well as a demand for return of 200-million HHSE shares that were obtained under the integrated merger agreements, but for which no consideration was actually received. While HHSE does not believe that Bedrock will be physically capable of returning these 200-mm shares to HHSE Treasury Stock, the demand is an important part of the HHSE response. With respect to JSJ, due to HHSE's tender offer of the full repayment plus interest in CASH when the note was due, the entire JSJ note is likely to be rendered illegal and void. Additionally, the settlement made with Origin Releasing prior to the final court verdict in August, will be reaffirmed for the direct (actual) balance (plus $20k for legal costs) with a "super-judgment" amount held in abeyance as a velvet hammer to motivate HHSE's timely performance of the settlement (which will be paid off in monthly installments over the next ten months - or sooner at HHSE's discretion).
HHSE reminds longs that the stock-board xxxxxx have always been wrong with their claims that "the sky is falling" due to various legal matters over the the years... and reminds our shareholders that HHSE has always been proven 100% correct when disclosing that the occasional legal matters are not material threats to the company's ongoing operations or viability.
http://hannoverhousemovies.blogspot.com/2018/10/hhse-nitty-gritty-of-operational-legal.html
August 8, 2018
Quick update on ORIGIN matter
Greetings HHSE Friends & Followers - we are pleased to announce that the Origin lawsuit has been settled by mutual agreement on day two of the non-jury trial in Dallas. HHSE was combatting a claim by Origin Releasing (successor to Studio 3 Entertainment) which was seeking hundreds of thousands of dollars for what HHSE disputed as non-existent royalties for sales that did not occur or amounts were being sought that did not conform to the contract terms. This was the fourth producer lawsuit in the past two years that HHSE has disputed based on math and on contract terms. In each case, HHSE has either prevailed or settled for actual amounts due.
In 25-years, HHSE has had to deal with 11 lawsuits from producers out of 455 total titles - earning HHSE the distinction of being the least likely company to be sued by producers out of all full-service indie distributors in the North American marketplace.
http://hannoverhousemovies.blogspot.com/2018/08/quick-update-on-origin-matter.html
HHSE
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