Hannover House Inc (HHSE)

[Chance To See]

Explanation for share surrender

Fred Shefte presented a performance-based incentive plan and motion for restructuring of the Company’s Common Stock share structure to provide incentives for key management members to achieve certain corporate governance targets.

http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=59066

I’ve been away from the board for a little while, so maybe this has already been beaten to death, but this "incentive" explanation just doesn’t make any sense to me. I’m pretty sure they’re working as hard as they can already.

Wouldn’t there be some tax advantage to surrendering shares valued at $.0264 and getting them back when they’re at a higher valuation? That’s the only explanation I can think of.