HHSE Management Team: CEO, COO, VICE-PRESIDENT/SALES Professional BIOgraphies
Hannover House was established in 1993 as a California corporation. Hannover House concentrated its activities exclusively in the literary, book-publishing industries until 2002. In June 2002 Eric Parkinson and partner Fred Shefte purchased Hannover House with the intent to expand the existing retail distribution to enter into the DVD marketplace. Hannover House expanded into theatrical distribution in 2007.
In December, 2009, Eric Parkinson and his operating partner D. Frederick Shefte, entered into an agreement to reverse merge with the publicly traded Target Development Group, Inc., which later changed the name to Hannover House (HHSE). Simultaneous with the December, 2009 merger transaction, the officers and directors of Target were restructured to add Hannover House executives to the board, with Eric Parkinson also tapped as Chairman / CEO and Fred Shefte as President. Parkinson brings over 30-years of indie-studio management experience to Hannover House, including a notable string of hits as C.E.O. of Hemdale Communications, Inc. ("Platoon", "Last Emperor", "Hoosiers", "Terminator", etc...). Shefte is an attorney as well as a business entrepreneur. In June, 2014, Hannover House announced the hiring of Tom Sims as Vice-President of Sales. Sims is a veteran of more than 20-years in the home entertainment industry, having previously worked as Video Manager for powerhouse Walmart Wholesaler Anderson Merchandisers, as well as Senior Director of National Accounts for Universal Studios Music Group / Vivendi, and most recently as Vice-President of Corporate Development for Allegro Media Group, Inc.
i). In a subsequent development occurring after the applicable time period covered in this filing, the Company and another fully registered public equity have mutually executed a letter of intent agreement for a corporate merger which will have significant impact to the financial strength, operations, profile and activities of the Company. The merger – which has been contemplated as a stock-for-stock swap, with Hannover House, Inc. shareholders collectively maintaining a majority stock interest and control – is a key structural element to accommodate the placement of an initial $65-mm in production and distribution financing arranged for by the merger partner. The Company and merger partner anticipate that the merger shall become effective following certain regulatory compliances and the remittance of specified payments to Company – both of which events are anticipated to be resolved on or before April 14, 2017. Management feels that this proposed merger will provide an immediate and significant premium value to HHSE shareholders, as well as position the Company to fill the currently open market niche’ for a domestic studio focusing on high-quality, mid-level theatrical features (with movies of the budgetary cost and commercial appeal such as “Get Out”, “Little Miss Sunshine”, “Lion” – e.g., quality independent films with budgets of $3-mm to $7-mm and USA box office values approaching $100-mm). Corporate counsel has advised management that the Company shall be obligated to disclose the merger partner and principal terms of the merger at such time that the legality and logistics of this proposed merger structure are determined to be acceptable, which issues are currently under review and are anticipated to be resolved on or before April 14, 2017. Upon formal closure of this corporate merger, as presently
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structured and anticipated by counsel and advisors, Company shall be a fully registered, fully reporting equity, with DTC approved stock trading and the opportunity to quickly uplist to NASDAQ.
* HHSE and another fully registered public equity.
* Mutually executed a letter of intent agreement for a corporate merger
* Significant impact to the financial strength, operations, profile and activities of HHSE
* Contemplated as a stock-for-stock swap
* Hannover House, Inc. shareholders collectively maintaining a majority stock interest and control
* INITIAL (might be more) $65-mm in production and distribution financing arranged for by the merger partner.
* Both partners anticipate that the merger shall become effective following certain regulatory compliances and the remittance of specified payments to Company – both of which events are anticipated to be resolved on or before April 14, 2017.
* Immediate and significant premium value to HHSE shareholders
* Position the Company to fill the currently open market niche’ for a domestic studio focusing on high-quality, mid-level theatrical features (with movies of the budgetary cost and commercial appeal such as “Get Out”, “Little Miss Sunshine”, “Lion” – e.g., quality independent films with budgets of $3-mm to $7-mm and USA box office values approaching $100-mm)
* Merger currently under review and is anticipated to be resolved on or before April 14, 2017
* Upon Merger Closure, Company shall be a fully registered, fully reporting equity, with DTC approved stock trading and the opportunity to quickly uplist to NASDAQ
March 31, 2017 HHSE 10-K Merger Disclosure. $65,000,000 Production & Distribution Financing. NASDAQ Uplist. HHSE Shareholders Receive Substantial Premium & Maintain Control.
Item 11 A1-A6 – Supplemental Disclosures. i). In a subsequent development occurring after the applicable time period covered in this filing, the Company and another fully registered public equity have mutually executed a letter of intent agreement for a corporate merger which will have significant impact to the financial strength, operations, profile and activities of the Company. The merger – which has been contemplated as a stock-for-stock swap, with Hannover House, Inc. shareholders collectively maintaining a majority stock interest and control – is a key structural element to accommodate the placement of an initial $65-mm in production and distribution financing arranged for by the merger partner. The Company and merger partner anticipate that the merger shall become effective following certain regulatory compliances and the remittance of specified payments to Company – both of which events are anticipated to be resolved on or before April 14, 2017. Management feels that this proposed merger will provide an immediate and significant premium value to HHSE shareholders, as well as position the Company to fill the currently open market niche’ for a domestic studio focusing on high-quality, mid-level theatrical features (with movies of the budgetary cost and commercial appeal such as “Get Out”, “Little Miss Sunshine”, “Lion” – e.g., quality independent films with budgets of $3-mm to $7-mm and USA box office values approaching $100-mm). Corporate counsel has advised management that the Company shall be obligated to disclose the merger partner and principal terms of the merger at such time that the legality and logistics of this proposed merger structure are determined to be acceptable, which issues are currently under review and are anticipated to be resolved on or before April 14, 2017. Upon formal closure of this corporate merger, as presently structured and anticipated by counsel and advisors, Company shall be a fully registered, fully reporting equity, with DTC approved stock trading and the opportunity to quickly uplist to NASDAQ.
HHSE Merger Disclosure in Bullet Points
* HHSE and another fully registered public equity.
* Mutually executed a letter of intent agreement for a corporate merger
* Significant impact to the financial strength, operations, profile and activities of HHSE
* Contemplated as a stock-for-stock swap
* Hannover House, Inc. shareholders collectively maintaining a majority stock interest and control
* INITIAL (might be more) $65-mm in production and distribution financing arranged for by the merger partner.
* Both partners anticipate that the merger shall become effective following certain regulatory compliances and the remittance of specified payments to Company – both of which events are anticipated to be resolved on or before April 14, 2017.
* Immediate and significant premium value to HHSE shareholders
* Position the Company to fill the currently open market niche’ for a domestic studio focusing on high-quality, mid-level theatrical features (with movies of the budgetary cost and commercial appeal such as “Get Out”, “Little Miss Sunshine”, “Lion” – e.g., quality independent films with budgets of $3-mm to $7-mm and USA box office values approaching $100-mm)
* Merger currently under review and is anticipated to be resolved on or before April 14, 2017
* Upon Merger Closure, Company shall be a fully registered, fully reporting equity, with DTC approved stock trading and the opportunity to quickly uplist to NASDAQ
April 16, 2017 HHSE BLOG: Merger Legal Issues were Resolved by April 14.
Resolution of legal issues / concerns impacting new funding and structure for HHSE. As forecasted within the year-end filing (period ended 12-31-2016) certain legal issues impacting the structure and receipt of substantial new funding for HHSE were resolved as of last Friday (April 14). http://hannoverhousemovies.blogspot.com/2017/04/resolution-of-legal-issues-concerns.html
Last Month, on March 10 specifically, Hannover House managers signed a letter-of-intent to join with another publicly-traded company, two private companies and a major studio distribution partner, to create a new structure that addresses each of the Ten Essential Trends described above, and which we feel will bring substantial value to our shareholders.
Over these past five weeks, the legal, operational and structural changes that are required to effectively launch such an ambitious merger have been in motion. The two privately held companies will join with the two publicly-traded companies into an overall venture that is fully reporting, fully registered, and sufficiently funded to allow for a realistic pursuit of a NASDAQ listing. This venture involves the placement of approximately sixty-five million dollars (USD $65,000,000) from pre-existing international presales and feature film private investor commitments, and will provide us with both the high-end “major” titles as well as the first two-years of the “mid-level” theatrical titles. Due to availability of State and Federal incentives and rebates on the productions, the company will also be well funded with theatrical releasing resources – as well as earning lucrative production company service fees upfront. A major studio partner will handle most of the domestic home video and V.O.D. activities (excluding VODWIZ.TV) as well as international sales through their existing distribution units in over 100 territories worldwide.
Upon regulatory approval, existing Hannover House shareholders will receive a significant premium-to-market redemption, and overall, the Hannover House shareholders will retain a majority control in the combined entities.
Over the next few days, details of the venture partners will be released through mutual public announcements. As the merger L.O.I. contains performance triggers (including specific funding requirements and regulatory approvals), Hannover House has honored the temporary, proprietary confidences imposed on all parties - as is customary for a venture that involves four separate companies and a major studio distribution partner.
For the principal venture parties involved in this new structure, we all feel that this is a marriage in which the whole is greater than the sum of the parts. The consensus is that this is the “launch moment” for a truly significant entertainment company… and a move that will bring substantial value to all of our shareholders.
We wish to thank the company’s many patient, “long” shareholders, and we are excited that you will be rewarded for your loyalty and support as we have navigated a winning plan in this evolving media sector. The new management team includes some of the industry’s most respected and successful executives, and our future as a successful, independent studio and media distributor is bright. Watch for updates on this BLOG, including advance notification of Form 8 Information Statement Filings. http://hannoverhousemovies.blogspot.com/2017/04/the-beginning-of-something-truly.html
April 20, 2017 HHSE BLOG - Merger Regulatory Approvals (FINRA, SEC) Expected About May 1st
As stated previously, the HHSE Merger activities are expected to have regulatory approvals on or about Monday, May 1st - which will be well-timed for the company's presence at the Cannes Film Festival and Marche du Filme as both a seller of major theatrical titles, as well as an acquisition licensor for North America rights under a new, Major Studio distribution pact.