Hannover House Inc (HHSE)

[Chance To See]

I think it might be a good idea to stop repeating the terminology error from TDGI’s PR. The $896,656 is not Gross Profit, it is Net Income.

(Gross Profit is Revenues minus Cost of Sales, the figure BEFORE General & Administrative expenses are subtracted. So this quarter, as you can see in the actual Quarterly Report, the Gross Profit is $1,018,788.)

Fortunately they got the terminology right in the actual filing. Presumably they felt they could wing it in the PR and not run the financial paragraph past their Controller.

November 16 PR:
“Gross revenues for the quarter were $1,996,367 with pre-tax, gross profits (after General & Administrative expenses) of $896,656.”

OTC Markets filing:
“ c). Continued Growth in Revenues and Profits – During the three-month period ending September 30, 2011, the Company generated Revenues of $1,996,367 with a Net Income of $896,656.”