FINRA Approves Name and Symbol Change for Hannover House
03 April 2012 - 1:17AM
The financial industry's self-regulatory organization, FINRA, has
completed its review of Target Development Group, Inc.,
(Pinksheets: TDGI) and approved the company's application to change
the corporate name to Hannover House, Inc., which will be announced
today on the FINRA website. Effective Tuesday,
April 3, 2012, equity trades in the company's stock will be under
the new symbol, "HHSE," to correspond better with the brand name of
the operating entity for the company.
Existing shareholders of TDGI shares will not be required to do
anything as a result of the company rebranding and symbol
change. Standard Registrar and Transfer Company, the transfer
agent for Hannover House, will continue to recognize and accept
stock certificates issued under the Target Development Group, Inc.,
name, but will begin issuing stock in the name of Hannover House,
Inc., HHSE, effective tomorrow.
"We are pleased to implement this key step for our
shareholders," said Fred Shefte, President of Hannover House.
"As we step-up our release activities of films, videos and books,
the changing of the corporate name and stock symbol to match our
consumer releasing brand will improve clarity and identity for the
company. The Hannover House brand is well-established within
the retail community, and recognized by millions of
consumers. Our move to identify the corporate entity and
stock symbol with our brand name was a logical decision."
Hannover House was founded in 1993 as a book publisher, and
expanded into DVD products in 2002. The company was acquired
by Target Development Group, Inc., in December, 2009, and has
posted nine consecutive quarters of profitability since the
merger. The company is currently in process for two years of
full audits, covering the year's ending 12-31-2010 and 12-31-2011,
and sees the completion of these audits as the next step towards
delivering further transparency for the company. The company
is already fully current and compliant with reporting and
disclosure requirements for the OTC Markets.
The release schedule for Hannover House during 2012 covers more
than twice as many new titles than the company's 2011
schedule. Revenues from the DVD, Blu-Ray and Video-On-Demand
markets in the USA will comprise a majority of the company's 2012
results, with additional income forecasted from theatrical,
television and international licenses. The company has
forecasted a sales increase of more than 100% for 2012 as compared
to 2011, based on sales already achieved during Q1, as well as
market indicators for current and upcoming releases.
Press & Media: For More Information,
contact: Leigha Schilling, 479-751-4500,
Leigha@HannoverHouse.com
Safe Harbor Statement and Disclaimer
This news release includes "forward looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Act of 1934. A statement identified
by the words "expects", "projects", "plans", and certain of the
other foregoing statements may be deemed forward-looking
statements. Although Hannover House believes that the expectations
reflected in such forward-looking statements are reasonable, these
statements involve risks and uncertainties that may cause actual
future activities and results to be materially different from those
suggested or described in this news release. These include risks
related to unexpected adverse developments in the status of the
properties, or other unanticipated occurrences.
CONTACT: Leigha Schilling, Leigha@HannoverHouse.com, 479-751-4500
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