HHSE DD: A YEAR OF FAILED AUDIT-PROMISES
Below only covers the past year or so in terms of updates. To go back the eight or so years since HHSH's first failed promise of an audit and Form 10 filing would be cumbersome.
New DD/Management updates in bold and underlined. This time it's true, right? LMFAO!
December 2017 claim:
HHSE will be re-filing a Form 10 Registration with two full years of audits (2016 and 2017) early this coming year, during the first few weeks; the CPA review is already underway and much of the documentation and procedural steps for the audit were already assembled during 2017 while planning for the Crimson merger. We feel that a registration of the shares and the subsequent uplist to OTC:QB will attract more investors and some institutional funds
January 2018 claim:
HHSE will submit the full 2016 and 2017 packages to our auditors in preparation for the stock registration filing.
Completion of formatting and overview by outside CPA - covering 2015 Tax Returns, and the full years of 2016 and 2017. This step is expected to be completed this week, with the results handed over (along with the remainder of the audit materials) to our PCAOB firm.
REDRAFTED FORM 10 REGISTRATION - This is already completed, awaiting review by outside S.E.C. counsel, and the auditor's letters.
It is our belief that we can submit the full auditor's package this week.
FORM 10 FILING - we believe that the auditors will take about 30-days after receiving these final elements, at which time we will be filing the Form 10 registration statement.
The 12-31-2017 period would therefore lose eligibility as of about May 15. While the Form 10 is expected to be filed as of that date - to give the audit periods longer currency, we have added the Q1 (2018) period as our most recent filing. This will put the audits well under the aging date, even with the potential 60-day S.E.C. review period after filing of the Form 10.
PRE-AUDIT PACKAGE (2016 / 2017) - outside CPA activities to compile and conform to our auditor's formatting standards is still in process... delayed by only a few days for annual tax client filings. Prepayment of Form 10 activities (outside CPA, Library Valuation and basic audit) will assure that the registration process moves quickly over the next few weeks.
However, keep in mind that the delay in the Form 10 filing has been the ONLY prediction that the naysayers have gotten right. That said, this one and only temporarily correct critique is about to move over onto the stock critic's extraordinarily long "WRONG" statements column, which will give them a perfect 100% ALWAYS WRONG rating.
2). AUDIT / FORM 10 Activities - including completion of the 2016 / 2017 pre-audit package and the current (in-progress) Q1, 2018 report
And of course, we anticipate one or more day trips during July to meet with the auditors (current Form 10 project), should issues requiring clarification not be easily resolved by calls or Skype
However, the pending Form 10 filing (including audits), will elevate the stock to the OTC:QB status as an initial step towards possible further up-listing.
At long last, the HHSE Audit package has been completed and has been delivered by courier today
TO BE CLEAR: THE AUDIT PACKAGE IS DELIVERED TO OUR REPUTABLE (PCAOB CERTIFIED) AUDITORS!
The audit package is being presented Thursday morning; we are anticipating a process of about four weeks before the audited financials can be dropped into the otherwise completed Form 10 registration filing
. FORM 10 REGISTRATION activities are well into motion. HHSE managers believe that the fully reporting status (automatic on 60-days after filing), will positively impact the company's share price and volume
3). Status of Form 10-Registration - With Q1 accounts receivable balance to be filed under a footnote as described above, we can complete the audit document package for the PCAOB auditors and submit to them on Monday. We do not see the auditor as requiring a lengthy process due to the organization of the materials to be submitted.
Last Thursday we received back four pages of notes from the outside CPA firm that has been engaged to help us in preparing the PCAOB Audit format for our 2-years (and one quarter) of financials that are part of the Form 10 registration filing.
HHSE received a request from the auditors on Tuesday for additional backup detail on the net positions for the company's back list library (as these figures impact both the "royalties payable" balance sheet entry, and the "producer recoupment" balance sheet entry). Staff is on this task already.
UPDATE: HHSE provided back-up for 117 titles to the auditors on Monday - which fully satisfied this back-up document request. HHSE videos or products generating less than $10,000 in gross sales during the prior three years were excluded from this additional endeavor. ONE HUGE STEP CLOSER!. Also, for what it's worth, HHSE has engaged a very seasoned auditing firm and securities counsel for the Form 10 registration project. We are completely confident in their competency and direction to HHSE as to what items and issues are required for a Form 10 registration and expeditious acceptance.
HHSE Q2 Filing has been formatted and submitted to our auditors to provide the most current "reporting period" data for the Form 10 filing.
the request of our auditors, we have been told that forecasting a specific date for the posting of the Form 10 Registration filing would likely result in a "comment" of concern from the S.E.C. Why? Because publicly stating a specific date creates stock trading advantages for those buying in anticipation of the date, or those that work against the best interests of the Company by hoping that an announced date is not met. That said, we can state that the process of audit continues in motion, and that the additional steps of XBRL formatting for EDGAR compatible upload are also in motion.
Progress continues to be made in the audit compliance issues and general status of the Form 10 Registration. Q2, 2018 filing will be made on or before the August 14 OTC Markets Guidelines (a filing which was held from prior release in order to conform as much as possible to current status news and audit adjustments).
the audit, uplist and MyFlix occupying Parkinson's 80-hour weekly schedule - the schedule for two of Fred's key projects (Form 10 and MyFlix Operations) are about four weeks behind.
tables for historical data, forecasts and non-audit materials have been prepared - along with the narrative write-up of the company's Form 10. An issue regarding freight allocations was received in early September, but will not be fully addressed until Shefte's return to the HHSE offices.
A). Audit-Uplist - With Fred Shefte now released from the hospital, the freight allocation worksheets (and their impact on producer statements) should be reviewed and finalized this week.
We are cognizant that shareholders are patiently awaiting updates on other HHSE corporate issues, including but not limited to AUDIT status, MYFLIX updates, LEGAL matters and general release activity updates. A detailed and informative blog is being prepared for release on Sunday evening (this weekend). Thank you for your patience
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.
Management anticipates that the act of filing the Form 10 could (and should) result in a PPS of $.03 or higher. The Form 10 may be filed in the next few weeks, and the impact to the HHSE share price might be seen immediately - even though the S.E.C. has 60-days to provide "comments" requiring the issuer's response.
January 2019 excuses (or simply reference previous proclamations above, as the below simply parrots the same nonsense):
1). Q: REGARDING THE FORM 10-FILING DATE, WILL YOU TELL SHAREHOLDERS "IN ADVANCE?"
A: No. We have been advised that specific disclosure or telegraphing of the date that the company will be filing the Form 10 Registration Statement with the S.E.C. would create stock-trading advantages that might result in S.E.C. "comments" or potentially a rejection of the company's registration.
2). Q: IS THE COMPANY "ON TRACK" FOR THE COMPLETION OF THE FORM 10 FILING IN A TIMELY MANNER?
a). Status of Year-End (2018), Audits & Form 10; authorized to publicly state that this important corporate filing is "on schedule."
The unanimous consensus was to continue to defer the optional, corporate annual meeting in favor of focusing this week on the final tasks needed for clearance of the company's path for the Form 10 Registration filing.
We're in the final countdown to our registration filing... so keep up the faith and we can all share in the rewards!
June 2019 - a full year and a half after the "re-filing:"
The Hannover House, Inc. (OTC: HHSE) Form 10 Registration filing with the Securities and Exchange Commission will include audited financials up to and including the current reporting period ending June 30, 2019 - to provide the highest level of timeliness for the registration. HHSE managers will complete and submit the final Q2 books at the close-of-business on Friday, June 28 to provide the auditors with this most recent view of the company's activities. The Q2 audit is expected to be completed quickly and will be added to the more time-consuming year-end audit work previously completed or in motion.