Himalaya Technologies Inc (HMLA)

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Great reason to avoid HMLA like the plague:

During 2014 and early 2015, Homeland Resources Ltd. (the “Company”) issued convertible notes to creditors in order to finance its ongoing filing obligations and the cost of negotiations with TeleSecurity Sciences Inc. (“TSS”). The notes included the following as disclosed in the Company’s filings:

Creditor Note Amount Disclosed in
KBM Worldwide Inc. $88,500 Form 8-K filed September 16, 2014
KBM Worldwide Inc. $33,000 Form 8-K filed January 5, 2015
LG Capital Funding, LLC $25,000 Form 8-K filed January 6, 2015
Typenex Co-Investment, LLC $70,000 Form 8-K filed January 29, 2015
Vis Vires Group, Inc. $16,500 Form 10-Q filed March 23, 2015

Since the Company’s most recent Form 10-Q for the period ended April 30, 2015 filed June 22, 2015, a number of notes have been converted at successively lower prices as follows:

Date Creditor Amount Converted Shares Issued
September 21, 2015 KBM Worldwide Inc. $7,020 1,800,000
October 1, 2015 KBM Worldwide Inc. $3,420 1,800,000
October 7, 2015 KBM Worldwide Inc. $2,520 1,800,000
October 8, 2015 KBM Worldwide Inc. $3,280 2,342,857
October 9, 2015 KBM Worldwide Inc. $3,280 2,342,857
October 13, 2015 KBM Worldwide Inc. $3,280 2,342,857
October 19, 2015 KBM Worldwide Inc. $2,815 2,345,833
October 21, 2015 KBM Worldwide Inc. $2,815 2,345,833
August 5, 2015 LG Capital Funding, LLC $3,140.05 257,381
September 30, 2015 LG Capital Funding, LLC $2,226.12 1,737,798
October 12, 2015 LG Capital Funding, LLC $2,125.37 1,742,106
October 22, 2015 LG Capital Funding, LLC $2,065.86 1,782,450
August 5, 2015 Typenex Co-Investment, LLC $17,608.91 1,572,224
October 1, 2015 Typenex Co-Investment, LLC $5,250 3,516,410
October 9, 2015 Typenex Co-Investment, LLC $4,302 3,600,000
October 22, 2015 Typenex Co-Investment, LLC $3,830.93 3,600,500

At the time the Company entered into the notes, the Company had no other significant financing available to it to meet its ongoing requirements. Since this process started, the Company’s oil revenues have declined as a result of declining oil prices.

The Company’s original plan was to obtain conventional financing to retire the indebtedness prior to the conversion rights becoming effective. The Company was not able to obtain such financing due to the general decline of OTC markets.