Los Angeles, CA, May 10, 2012 (GLOBE NEWSWIRE) -- Hannover House, Inc., (Pinksheets: HHSE) has initiated two significant corporate measures designed to protect shareholders and streamline trading of the company's shares, it was announced today.
Standard Registrar & Transfer Company, Inc., the stock transfer agent for Hannover House, is pursuing approval for Deposit / Withdrawal at Custodian ("DWAC" electronically-transferrable trading) of the company's shares with the Depository Trust & Clearing Corporation (DTCC). Policy changes at several major brokerage and clearing houses late last year have made the trading of some Pinksheet stocks more difficult for investors. While the sale of Hannover House shares did not experience any significant issues from these brokerage changes, it is still Hannover's belief that DWAC of HHSE shares through the DTCC will improve access to the company's stock, and simplify trading for shareholders.
The company has also engaged the services of Buyins.net, a leading provider of Regulation SHO compliance monitoring, short sale trading statistics and market integrity surveillance. Buyins.net believes that the Hannover house stock price has been manipulated by short-selling activity that has resulted in artificially low prices. The initiation of trading compliance enforcement is expected to discourage future short-selling activities and to assist with the restoration of the stock's true value.
Based on price-earnings averages for other publicly-traded companies in the same entertainment sector as Hannover House, the company feels that the stock price would need to be more than three-times higher than present trading levels (with a target price of about $.10 per share) in order to be priced consistently with other media companies. The company feels that the share pricing has been artificially manipulated by short-sale activities, and has initiated a complaint and investigation with FINRA to pursue specific violators. It is the company's hope that the combined efforts of FINRA and Buyins.net will stop future trading anomalies.
Hannover House, Inc., is a full-service entertainment distributor, with release activities covering books (and book-publishing media), theatrical films, home video, video-on-demand, television and international rights licensing. The company was formed in 1993 as Truman Press, Inc., and rebranded as "Hannover House, Inc." earlier this year to better conform to the company's well-established consumer releasing brand, Hannover House. The company has released more than 170 products over the past 19 years, and has sold millions of videos and DVDs since added films and videos to its book publishing slate in 2002. The principal offices for Hannover House are in Springdale, Arkansas, reflecting the company's sales relationship with nearby Wal-Mart Stores, Inc., the world's leading purchaser of DVDs and Blu-Ray products for all major studios. For more information on Hannover House, including financials and fully compliant reports, go to: www.OTCMarkets.com, and look up the company's stock trading symbol: HHSE.
SAFE HARBOR STATEMENT
This press release may contain certain forward-looking statements within the meaning of Sections 27A & 21E of the amended Securities and Exchange Acts of 1933-34, which are intended to be covered by the safe harbors created thereby. Although the company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no assurance that these statements included in this press release will prove accurate. The public is advised that there can be no assurance that the Hannover House shares will be approved by the DTCC for DWAC electronic trading, and that the Reg SHO short-sale compliance activities from Buyins.net will successfully restore share price value.