In response, Hannover House’s Eric Parkinson is behaving very calmly about the situation, telling the site,
We’ve arranged a meeting, we’ll show them our money and if the rational brain prevails, they’ll take the deal. If not, I can’t do it without them. You’ll have a followup next week that we are either holding hands, or not doing the film. At least we now have our meeting http://spinoff.comicbookresources.com/2010/08/16/terminator-3000-gets-cease-desist-letter/
The release plans set forth by Parkinson for these titles indicated a collective gross revenue potential exceeding $25-million, approximately half of which was attributable alone to “HappyThankYouMorePlease,” a highly commercial “datefriendly” romantic comedy that has garnered enthusiastic reviews and significant revenue predictions from top film industry publications. http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=30013
BOARD AGENDA ITEM “A” – Approval of Off-Balance Sheet Financing Opportunities – The Board reviewed the proposal set forth by C.E.O. Eric Parkinson regarding the financing for the acquisition and release of major, theatrical-caliber titles, including director Joel Schumacher’s drama, “TWELVE.” Under the Parkinson plan for “TWELVE”, the financing required to pay for the film’s license fee advance (USD $1.75-mm) and for the film’s Prints & Advertising / theatrical releasing costs (approximately USD $2-mm) would be funded through a combination of private investor funds, supplier credit terms, pre-paid advertising and internal corporate cash resources, and would not require an issuance of company stock or equity. The private investor funding portion would be repaid with a priority recoupment position from incoming revenues of “TWELVE” and an ongoing participation in the company’s applicable distribution fees for that specific title, but that the venture would not be structured as a corporate debt obligation. http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=30013
"The Wild Hunt," from director Alexandre Franchi, is a dramatic thriller that delves into the complex world of Live Action Role Playing. Hannover will release the film to theaters beginning May 7, with a video release expected for September. A more detailed announcement on the film will be released by Hannover House later this week. http://finance.yahoo.com/news/Wild-Hunt-and-Four-Titles-iw-4270273134.html?x=0&.v=1
5 When can we expect audited financials? Are the audited financials done and you have just not made them public yet? If not done, when do you expect they will be. Seems to be a sticking point with some.
Answer: Hogan Taylor is performing full year-end audits for 2008 and for 2009, plus reviewed quarterly reports for 3-31-10 and 6-30-10. We will give them the June 30 worksheets later today. I hate to predict when all this will be completed, because they've already taken weeks longer than originally forecast. I can say that it's my hope and goal (and we'll be pressing them hard) to have all these reports and audits completed and ready to post by July 16.
3 Will the big news come out by the end of June as you stated in a recent NR?
Answer: There are actually four significant pieces of "news," any one of which would qualify as big. When these are announced, you will not have to wonder "gee, is this one of the big news items or not?" because it will be quite obvious. We had hoped that all four items would be ready to release by June 30, but that has proven impossible, primarily due to a delay in what we feel (logically) should be 'the first news' announcement, which involves a venture with another (much larger) company. It would be difficult to discuss the other three items without the foundation set of the first announcement. I will be back in L.A. next week, and we will press to make the "joint announcement" that will trigger the release of the other three items.
VI-e). Financial Statements and other Financial Filings – Company is scheduled to commence a full audit for the year ending 12-31-2009 in late January, 2010. Preliminary figures, from management prepared worksheets are expected to be posted in late January, prior to the completion of the audit. The Company has engaged Hogan Taylor, LLP as its auditing firm. http://www.otcmarkets.com/otciq/ajax
VODWIZ: Coming this summer, Hannover will launch a Video-On-Demand website and IPTV Channel known as VODwiz. The VODwiz brand hopes to become "The Netflix of Independent Movies" by offering thousands of foreign, independent, esoteric and "art" films that are otherwise unavailable or difficult to find on existing V.O.D. sites. Already, 10 key indie studios (collectively representing over 4,000 titles) have agreed to participate in the VODwiz roll-out... and discussions are underway with fourteen other suppliers, plus three major studios. Consumers will have the option of watching VODwiz titles on either a "Pay-Per-Transaction" basis (for as little as $.99 per movie), or on a subscription basis (ala Netflix) with an all-you-can-watch option for $5.99 per month. As the total number of movies uploaded reaches a threshold of 2,000 titles, then the VODwiz consumer launch campaign will begin.
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