Hannover House Inc (HHSE)

[queens9000]

I read it again, they're trying to buy Blockbuster with help of financiers, non dilutive financing for $300M.

-Complete joke

An emergency Board of Directors meeting for Target Development Group, Inc. was held
at 1:00 pm on Friday, March 4, 2011 to address significant opportunities relating to Blockbuster,
Inc., and the prospect of assembling a financing consortium to purchase the company out of
bankruptcy. Based on the shedding of corporate debt of Blockbuster under their bankruptcy, the
closing of underperforming locations, and the legitimate opportunity to resurrect the company
with a renewed emphasis on affordable video rentals, video sell-thru, subscription services, video
on demand, games and kiosks, Target believes that Blockbuster can become cash-flow positive
within 90-days, and restored to significant profitability for calendar year, 2011. In order to fund
such a major acquisition, Target / Hannover House C.E.O. Eric Parkinson has commenced
discussions with four major financiers, with the intention of combining resources in order to
secure a prevailing bid for Blockbuster, Inc., which Parkinson feels will likely fall within the
range of $305-million to $315-million, with an additional $45-mm to $70-mm required for a
general operating line. The financing plan as presented by Parkinson would be structured as an
“off-balance sheet” transaction for Target Development Group, Inc., and would not involve the
issuance of new equity from Target; however, Target would function as the primary, managing
partner of the venture, should the financing be secured and should the bid prevail.