NO FORM 10 UPDATE..... !!! Guess the expected new BOD members last January still hasn't happened..... Funny haven't heard Sim's name or achievements for months.... Hmmm. Maybe missed that....
There are several parallel paths being pursued by HHSE / MEDALLION at present involving Alchemy matters - and an exciting variety of new opportunities that have presented themselves to HHSE / MEDALLION as a result of the Alchemy implosion. Any one of these opportunities / ventures could significantly change the stature and revenues of HHSE / MEDALLION. Accordingly, Management has been focused and occupied for the past week on the pursuit of these significant opportunities.
BLOG: HHSE/MEDALLION First-Stage Victory in Alchemy Matter
Thursday, July 14, 2016
HHSE / MEDALLION First-Stage Victory in Alchemy Matter
Dear HHSE Friends & Followers - HHSE / MEDALLION were instrumental in providing the Trustee with evidence of significant assets in the Alchemy / Anderson bankruptcy estate. Accordingly, the case has been formally converted to "Asset" based, and all creditors are being notified. HHSE's D. Frederick Shefte, Esq., will be appearing in Court in Wilmington, Delaware on Monday, July 25, regarding the official formation of the Creditor's Committee. For a variety of reasons, this is a very good development.
It is our belief that a substantial amount of recovery is possible... and simultaneously, HHSE / Medallion are being solicited to take-over distribution duties for many of the Supplier studios formerly represented by Alchemy. So for HHSE / Medallion and the key Supplier studios, there appears to be a golden-lining to the Alchemy storm clouds. More news will be posted as authorization is obtained.
PLEASE NOTE: There are several parallel paths being pursued by HHSE / MEDALLION at present involving Alchemy matters - and an exciting variety of new opportunities that have presented themselves to HHSE / MEDALLION as a result of the Alchemy implosion. Any one of these opportunities / ventures could significantly change the stature and revenues of HHSE / MEDALLION. Accordingly, Management has been focused and occupied for the past week on the pursuit of these significant opportunities.
Recent news that Our Alchemy LLC. ceased operations and is filing Bankruptcy. The case has now been formally converted from Chapter 7 no-asset liquidation, to "Asset" based, and all creditors are being notified.
This development has big implications For HHSE / Medallion:
1.) Alchemy owes HHSE about $754,000. Since the case has now been formally converted to "Asset" based, there is a chance that HHSE may be able to recover some of that monies.
2.) The cessation of Alchemy has left a void in Distribution Duties of Entertainment Industry. HHSE is/has been Pursuing Significant Revenue Changing Opportunities/Ventures. Simply put, HHSE may be able to assume/acquire/take-over a chunk(s) of Alchemy former business.
3.) Alchemy former business in simple terms: a.) Various Distribution Duties for Supplier Studios. b.) Valuable "Vendor" Access to Walmart and Target Stores. c.) Alchemy owns 1,000 Titles Film Library (of which 250 are considered "high-profile catalog" hits), and more than 50 new and unreleased titles.