Hannover House Announces January Launch of $8-mm Offering through S-1 Registration
LOS ANGELES, CA / ACCESSWIRE / November 20, 2019 / Independent film production and distribution company Hannover House, Inc. (OTC PINK:HHSE) has announced a January 2020 filing for the company’s first direct stock offering. The offering will seek to raise up to $8-million in working capital for the company through a S-1 Registration to sell shares directly to qualified investors. A total of 150-million common stock shares will be offered with the first 50-million set at $.03 each, the second 50-million set at $.05 each and the final 50-million block set at $.08 each. Hannover House believes that the first block of shares - and a significant portion of the second block - will be quickly purchased based on existing discussions with investors and media companies.
“Hannover House has been publicly-traded now for ten years on the OTC Pinksheets exchange,” said Eric Parkinson, C.E.O. “During this time, we have discovered that many larger investors and institutions are hesitant to invest into Pinksheet listed equities. So, the filing of our registration statement, quickly followed by the S-1 offering, will provide much greater access to a larger pool of investors and shareholders, including media companies and funds from China that are looking at ways to improve their access into the USA market,” he concluded.
Proceeds from the S-1 offering will be utilized by Hannover House with a strictly adhered formula of 1/3 for new revenue ventures, 1/3 for the MyFlix streaming site and 1/3 for existing payables management.
“We have been advised to reinvest the majority of new proceeds from this offering into the development of MyFlix and other revenue producing operations. Both investors and regulators have indicated a preference to see that new investment into the company is being utilized primarily for growth,” Parkinson continued.
New revenue ventures for Hannover House include the multi-studio streaming site MyFlix - which will offer consumers many thousands of movies for streaming on either a “per transaction” model (ala Amazon), or a monthly subscription model (ala Netflix or Disney+). MyFlix is expected to have over 12,000 title in total during the first year, almost half of which are not currently available through any other North American streaming site. The company is also developing a slate of high profile, “A” star feature films which, except for early development costs, will be funded almost entirely from distribution presales, co-production ventures, production incentives and private investors. These higher-profile titles will provide wide visibility for Hannover House and become the locomotives for revenue generation each year.
The January, 2020 filing with the Securities and Exchange Commission of the S-1 Offering for Hannover House has been prepared to conform to the “emerging growth companies” provisions of the JOBS ACT of 2012. The company’s shares are currently trading on the OTC Pinksheets Market under ticker symbol HHSE.
ABOUT THE COMPANY
Hannover House is a USA-based entertainment media distributor, specializing in the manufacture and release of pre-recorded movies and programs onto DVD and BluRay video devices, and the publication of literary and non-fiction books. Hannover is also active in the release of higher-profile films to theaters and to the domestic (North American) television markets. The Company has released over 450 separate feature film or television titles, with DVD sales of more than 10-million units since the launch of the Company’s activities in releasing that forma. The company has also published a wide-range of books, including the #1 Amazon.com best-selling non-fiction book, “Blood, Money & Power: How LBJ Killed JFK” by attorney Barr McClellan and the best-selling suspense thriller, “Quietus” by author Vivian Schilling. The company is domiciled in Wyoming; however, management offices are located in Fayetteville, Arkansas, as a proximity choice to be near the world headquarters for Walmart Stores, Inc. Hannover House, Inc. was originally incorporated in California in 1993 (as “Truman Press, Inc.”) and become a publicly traded company on the OTC Markets, symbol HHSE, in December, 2009.
For More Information Contact:
ERIC PARKINSON, / 818-481-5277
D. FREDERICK SHEFTE, / 479-871-8713
SOURCE: Hannover House, Inc.
View source version on accesswire.com: