Julia Roberts, Bruce Willis and Other Major Stars Headline Hannover House "Family Pack" DVD
07 June 2012 - 4:39AM
Hannover House, inc. (Pinksheets: HHSE) will continue its expanded
activity in catalog sales and multipacks with the August 14 release
of the "Family Movie Night" 4-pack. The DVD assortment
contains four, full-length family films, including "Grand
Champion", "Joyriders", "Savage Land" and "Come Away Home" priced
at only $9.95 suggested retail, with wholesale pricing to enable
major retailers such as Wal-Mart and Best Buy to sell the item for
as low as $5.00 to consumers.
Thematic multipack DVDs have become a hot selling category for
major retailers, and have proven to be capable of selling
hundreds-of-thousands of units. The "Family Movie Night"
package features four of the best selling family movies from the
Hannover House catalog. Accordingly, the company expects
consumer response to be significant.
"Grand Champion" is rated "G" and stars Emma Roberts and Joey
Lauren Adams. The film also features notable roles by Bruce
Willis, Julia Roberts and country music superstar George
Strait. It was released to theatres in 2004, and launched
initially to the home video market by Hannover House in January,
2005. "Come Away Home" is rated "PG" and stars Lea Thompson,
Thomas Gibson, Raul Dooley and Martin Mull. The film was
released to theatres in 2007 and released onto DVD by Hannover
House in January, 2008. "Savage Land" is rated "PG" and stars
Graham Greene, Corbin Bernsen and Charlotte Ross. The 1994
production was produced by Hannover House CEO Eric Parkinson and
based on his original story. The film has sold over 500,000
video units, and was noted by Video Store Magazine as being one of
the top 10 most profitable releases (ROI) of 1994 for video store
owners. "Joyriders" was a 1999 production by notable
producers Midge Sanford and Sarah Pillsbury ("Desperately Seeking
Susan", "Eight Men Out"), starring Martin Landau and Kris
Kristopherson. The title was initially released onto DVD
by Hannover House in 2006.
In other corporate news, following meetings over the last week
in Los Angeles, Hannover House has agreed to proceed with a bank
financing line-of-credit from a major, California based
institution. This bank credit line will be utilized to fund
current and upcoming marketing costs for Hannover House releases,
along with funds for general operations and payables
management. The company had recently been considering various
forms of financing, including a private-equity loan (with stock
shares as collateral) and a general debt conversion venture.
Due to a variety of factors, including shareholder feedback and a
recent drop in the company's stock share price, the bank credit
facility was deemed to be far more beneficial at this time than the
private-equity proposal or debt conversion. The Hannover
House managers believe that the recent drop in the stock share
price has been caused by uncertainty in how the company will
resolve its growth issues and cash needs, which have been
exacerbated recently by significant increases in the company's DVD
and Blu-Ray sales (which have created a short-term cash demand for
the manufacture and shipment of merchandise). As the enhanced
sales currently occurring mature into collections, Hannover House
will be better positioned to continue its policy of reinvesting
revenues into building sales and the asset base. The company
will continue to seek shareholder feedback on such issues.
Specific details of the bank financing line will be released upon
approval of the institution.
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 sales forecasts prepared by
management represent the company's reasonable expectations for
performance by titles and media, but in no way constitute a
representation, warranty or guarantee that these specific sales and
revenue achievements will be achieved.
CONTACT: Eric Parkinson, 818-481-5277 / HannoverHouse@aol.com
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