Hannover House Submits Final Documents for Form 10 Registration
Press Release | 07/01/2021
FAYETTEVILLE, AR / ACCESSWIRE / July 1, 2021 / Hannover House, Inc. (OTC PINK:HHSE) has modified and updated its Form 10-12(g) Stock Registration Filing and has submitted the revisions for what the company believes will be the final review by outside counsel and auditors before filing with the Securities and Exchange Commission.
The revised registration document includes updates for items that were previously expressed as areas of potential concern or material items requiring action or greater clarity. The company's balance sheet footnotes have been expanded to describe the nature of the company's film library and sales rights to third-party titles; additional disclosures were added to describe balance sheet items; additional disclosures were added to described the nature of the company's various subsidiary divisions and corporations and the funding structure governing the MyFlix venture to date (as well as the proposed revision of the MyFlix funding structure following the company's subsequent S1 offering). Additionally, Hannover House has taken steps to oppose four foreign judgments that management had not previously addressed and which were impacting the calculation of the company's going-concern status prior to the launch of the MyFlix venture.
Details of new officers, directors and managers added to the Hannover House team are included in the Form 10 registration statement, and will be announced separately in the coming days.
The company's S1 Registration Filing will also occur in the next few weeks and will initially offer qualified investors the opportunity to purchase up to 30-million common stock shares of HHSE at $.05 each (resulting in a potential raising of $1.5-mm for Hannover House). Two additional offerings will occur at $.08 and at $.10 per share following the full subscription of the first tranche. Hannover House management believes that the offering of S1 shares at $.05 each or higher will help elevate the trading volume and pricing for all shareholders.
The MyFlix streaming service is uniquely positioned in the industry to attract high volume film aficionados and specialty genre' consumers. Hannover's Form 10 and S1 filings are designed to elevate the company's credibility and stature to the investment community in hopes that the S1 Offering will enable the MyFlix site to be launched with a high-visibility, eight-tiered consumer marketing campaign in August.
