Hannover House Inc (HHSE)

[watchhound]

Per HHSE's 10k, they didn't have D&O insurance all the way back in 2015. Patient investors must be mystified by the five year delay. After all, obtaining such coverage should be a very simple process, especially for a "company" with only two employees and one single board member.

That said, the cost of a D&O policy varies by industry and more importantly is based on lack of revenues, significant verifiable debt and of course, significant legal history.

There is no insurer on this planet that would write a policy for these clowns. Last I checked, a cool million of coverage costs on average around 600-700 bucks a year per officer - peanuts. And even if HHSE could ever find someone stupid enough to insure this disaster, Parkinson's $700 Capital One credit card is maxed out and he's in litigation for non-payment from the same credit company. The failure would be fortunate to obtain coverage at a 2% discount to liability if that.

I'm sure the much-touted Eric Doctorow calls them every day, just chomping at the bit to join the HHSE BOD, just as he has every day since they announced his appointment to the HHSE Board (pending D&O) nearly five years ago:.

Circa 2015 10K -
Quote:
Company plans to add a total of three (3) new members to the Board of Directors, timed with the activation of Officers & Director’s Liability Coverage and the filing of the Form 10 Registration;


PS - I know this is rehashed, but regardless, no less hysterical from the