ITEM 3.01.		NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD; TRANSFER OF LISTING

On July 2, 2008 the Company received notice from the American Stock Exchange (“Amex”) or (“Exchange”) Staff indicating that, after reviewing the Company’s Plan previously submitted to the Exchange on May 8, 2008, the Staff has determined that the Plan does not make a reasonable demonstration of the Company’s ability to comply with the Exchange’s continued listing standards set forth in Sections 1003(a)(i) and (iv) of the Amex Company Guide due to (i) stockholder’s equity of less than $2,000,000 and losses from continuing operations and net losses in two out of its three most recent fiscal years and (ii) the Company had sustained losses which are so substantial in relation to its overall operations or its financial condition had become so impaired that it appeared questionable, in the opinion of the Exchange, as to whether the Company will be able to continue operations and /or meet obligations as they mature. The notice from the Exchange further provided that the Exchange intends to strike the common stock of Hanover from the Exchange.

The Company intends to appeal the Exchange’s decision within the time frames specified by Section 12 of the Amex Company Guide, and to request a hearing before a Listing Qualifications Panel of the Exchange. There can be no assurance that the Company’s request for continued listing will be granted.

99.1		Press Release, dated July 3, 2008.

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