Thanks for the update, sounds good. A few things I would like to point out.
1)Hannover House had a DVD library consisting of 75 titles. With some of the money they raised back in December they were able to make this deal which added 60 more catalog titles and 20 new release to their library. Their filings show these deals will add many millions to TDGI's sales.
Target Development Group and Hannover House Enter Into Film Library Ventures With Elite Entertainment and FOCUS film Entertainment
Dec 16, 2009
Hannover House, the film and video distribution division of Target Development Group, Inc. (PINKSHEETS: TDGI) (Other: www.TargetDevelopmentGroup.com , www.HannoverHouse.com ), has entered into a distribution venture to become the exclusive USA DVD and Blu-Ray distributor for the Elite Entertainment and FOCUSfilm Entertainment libraries, collectively adding more than 60 catalog titles and up to 20 new release titles to the Hannover House roster.
The distribution pact was negotiated between Target and Hannover President D. Frederick Shefte and Vini Bancalari, president of Elite Entertainment, Inc. and partner in FOCUSfilm Entertainment. The agreement was activated this week through the initial funds transfer from Hannover House, with additional installment payments slated over the coming months. Actual sales representation of the Elite and FOCUSfilm titles will commence in January 2010.
The Elite Entertainment label is the premiere science-fiction, fantasy and horror film independent video supplier in North America. Key titles include director Philippe Mora's alien-abduction masterpiece, "Communion" starring Christopher Walken; the big-foot monster classic, "Boggy Creek 2: The Legend Continues"; "Savage Harvest 2: October Blood"; and the 10-title horror series, "The Fearmakers Collection." The FOCUSfilm library contains a wide range of classics and international cinema favorites including multipacks of "Sherlock Holmes," "Ryder P.I." and the Orson Welles boxed set, "Citizen Welles." Additional titles, trailers and more information are posted at www.EliteDisc.com .
"This is an ideal marriage for both companies," Shefte said. "Elite and FOCUSFilm were looking to expand their distribution reach while Hannover House was looking to acquire more programming to present to our large and growing customer base. We feel uniquely qualified to maximize revenues from their catalog titles, and build on their exciting new release titles coming in 2010 and 2011."
"It's a multimillion dollar opportunity that adds significantly to Hannover's product roster and market credibility," he added.
2) He had the cash to make this deal also adding another Ten titles
Target Development Group, Hannover House Acquire 10 Video Titles
Dec 18, 2009
Hannover House, the film and video releasing label for Target Development Group, Inc. (PINKSHEETS: TDGI) (Other: www.TargetDevelopmentGroup.com , www.HannoverHouse.com ), announced today the acquisition of video distribution rights to 10 additional titles, including six new release feature films. The programs, under license from Central Film Company and Family Universal Network, will be released by Hannover House on DVD and Blu-ray in late spring and early summer 2010.
Central Film Company has expanded its existing distribution relationship with Hannover House with the addition of six new release features: "Eyes of the Woods," "Allegheny Sunset," "Naked Nerve Endings," "The Sky is Falling," "Static" and "The Wind and the Long Black Scarf."
Los Angeles-based Family Universal Network will provide four animated features -- "Treasure Island," starring the voice talent of Hugh Laurie ("House") and Richard E. Grant ("Garfield: A Tale of Two Kitties"); "Journey to the Center of the Earth"; "Around the World in 80 Days"; and "20,000 Leagues Under the Sea." Each will be available as individually packaged DVDs, as well as be part of a three-pack item Hannover will release as "The Jules Verne Classics Collection."
They also paid down $300,000 worth of debt with that money and had the cash they needed to turn this from a small company with big hopes into an up and coming player in the Film Distribution markets.
So it's what did they do with the money that counts....Eric imho has done great things in a very short time.
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