Hannover House Inc. (OTC:HHSE) Stock Jumps 23% in a Week: But Why?
There were a number of companies that came into focus among investors on Tuesday and one of those was Hannover House Inc. (OTS:HHSE). On Tuesday, the company was in focus after it emerged that it was making preparations for two significant awards for “WILDFIRE: THE LEGEND OF THE CHEROKEE GHOST HORSE”, its feature production. The original production had been targeted at families and starred Anna Heche in the final feature release of her career.
The first award for which the company would enter its feature is the Film Independent Spirit Awards in the ‘John Cassavetes’ category. The category in question is an award for the best feature that has been produced for $5000 or less. The other award is the Academy of Motion Picture Arts and Sciences Oscar for the song Adaygayudi’ in the Best Original Song category. The company went on to note in its news release on August 29 that the promotional activities and advertising work with regard to both awards would kick off in October 2023.
The Chief Executive Officer of the company, Eric Parkinson, spoke about the latest developments as well. He noted that the film had already been screened for a selected group of influential insiders in the film industry. Parkinson went on to note that the feedback had been encouraging since the production values of the film exceeded its actual costs of production.
The company had also been encouraged to apply for the two specific awards mentioned above since those two could be realistic prospects for the film. Wildfire had been filmed by the company in the eastern part of Oklahoma through private financing from investors and support from Hannover House. The production of the film remained completely independent and did not approach the state of Oklahoma for any incentives. Christian Large, Kyle Martens, and Eric Parkinson were the producers of the film. It was written by Mike Snyder and Eric Parkinson. Parkinson wrote the song ‘Adaygayudi’ along with Gaby Nagel, a well-known Cherokee flutist.
On June 30, the company came into focus after it announced that it had been working with the Standard Registrar and outside counsel for the purpose of returning as many as 15 million units of its common shares back to the treasury. As many as ten million shares had been issued in the form of collateral for the purpose of a credit line issued by TCA Global Master Fund to the company. In 2018, the credit line had been fully repaid, but the stocks that had been issued as collateral had not been returned properly owing to regulatory issues that had affected TCA’s operations.
The company announced that it had taken measures so that the issuance of those shares could be cancelled and then returned to the treasury. The rest of the 5 million shares had been issued to John C. Herklotz for streaming and DVD rights to the film “The Giant of Thunder Mountain”. The company announced yesterday that an agreement had been reached that would include the return of those shares.
