Hannover House Inc (HHSE)

[speckulater]

Bedrock $1M Balance Owed, Not Provided Or Expected







July 8, 2011

General Financing Considerations – The Company meets most of its funding requirements for general operations from the cash flow generated by the ongoing exploitation of titles and inventory from the Company’s library. The Company’s operating division (Truman Press, Inc., d/b/a “Hannover House”) has been operating on such a “cash flow” basis for nineteen years, with only one brief period of time under which bank financing was utilized. Contemporaneous with the merger of Truman Press, Inc. into the Company in January of 2010, the Company entered into an “investment banking” agreement with Bedrock Ventures, Ltd.

This financing agreement with Bedrock called for the raising of $1.5-million in total, to be utilized for the acquisition and release of one or more higher-profile titles, including the Joel Schumacher thriller, “Twelve.” While Bedrock provided initial installments during 2010 totaling $500,000 of the total raising, the balance of funds were not provided and are no longer expected to be provided.

https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=55463








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