Hannover House Inc (HHSE)

[downthehatch]

Audit- why it is so difficult.
I know something about this subject, because my wife (now deceased) was an actress, and had parts in a number of movies and TV episodes.
The accounting must be a nightmare, when you have to calculate small percentage residual payments for all of the many participants in each production, from producers and directors, down to actors and other who are getting a small percentage on revenue.

The problem, which is obvious from reading the HHSE annual meeting report that Myth shared here, is that HHSE did the accounting wrong in the first place, and now must go back and undo, and recalculate all the incorrect revenue allocations, and allocate them correctly.

2 points:
1) I give HHSE mgmt credit for honestly acknowledging that they screwed up, and
2) I give them credit for continuing to pursue an audit, despite the obvious expense and delay caused by redoing all the old accounting work.
If HHSE was a scam, they would certainly not redo all the accounting just to get an audit, but would continue to bump along as an OTC pink stock, and make an excuse or story as to why an up-list or audit was unnecessary.
After the transparency at the annual meeting, I am convinced they are serious about the audit and uplist, and SO IS THE MARKET, as the SP is up around 50% since the Annual Meeting.
Longs will be rewarded here, I am sure.