Heathrow Nat. Food and Bev Inc. (fka HRNF)

[buffalo2222]

Well we are in the news at least. LOL
Hopefully Pagnano goes to prison.
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370543021551#.VNG3OZ3F-rQ
PRESS RELEASE
SEC Charges Purported Health Food Company and CEO with Issuing False Press Releases in Microcap Fraud
Transfer Agent Also Charged for Missing Red Flags in Unlawful Distribution of Shares Used in Scheme
FOR IMMEDIATE RELEASE
2014-212
Washington D.C., Sept. 23, 2014 — The Securities and Exchange Commission today charged a Florida-based penny stock company and its CEO with defrauding investors by issuing false and misleading press releases proclaiming large sales and fantastic revenue projections while the purported health food company actually was a failing enterprise.
The SEC alleges that Heathrow Natural Food & Beverage Inc. touted sales of natural health food products that the company had not even manufactured as well as non-existent distribution agreements with major retail chains. Meanwhile, its CEO Michael S. Pagnano was prompting the illegal, unregistered distribution of billions of shares of company stock to several people or entities, including himself. Pagnano profited by more than $150,000 by selling 877 million of his shares into the market as the false press releases were stimulating public demand for Heathrow stock. Pagano also is charged with insider trading because he sold his shares while in possession of material nonpublic information about the falsehood of the press releases.

“Heathrow misled investors by peppering the market with remarkable press releases portraying the sky as the limit for worldwide distribution of huge volumes of its products while about the only thing the company was manufacturing was its sales projections out of thin air,” said Andrew M. Calamari, Director of the SEC’s New York Regional Office. “CEOs of microcap issuers will be held accountable when they spread misinformation in the marketplace.”