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

[ONeForAllfor1]

I don't know. I have about 10 positions I all bought 8-years ago with HRNF and all of them are suddenly coming to life. This may be one of the next ones.

[SevenTenEleven]

HRNF - Still holding a large position.

Good Luck!

[ReikoBlack]

Your words were marked. How's HRNF working out for you? LOL!

MARK MY WORDS!!!!!! THIS STOCK WILL COME BACK!!!!!!!!!

[ReikoBlack]

How well are you doing in HRNF? Patience is the key. LOL!

HRNF - I Sit on a nice little position. Have no intent on taking any losses or write-offs.

Like many targeted OTC Pinks, there is more to the utter collapse than Mike selling shares.

Patience will be key.

Never play with money you can't afford to lose, or have stolen from you by a group of collaborating FINRA market participants/members.

Good Luck!

[PRmaniac]

No chance of recovering, IMO

and no lawyer would touch a lawsuit if there is nothing to recover and no chance to recover.

By now the cash stolen by the CEO is likely long gone and he will probably try to shelter any of his remaining assets.

It would be nice to see prison time for the CEO for insider trading, but I doubt that will even be followed-through on.

I wonder if the IRS is going after the CEO Pagnano, too?

[donnruss]

4.5 Million reasons why I am pissed @ Heathrow Foods. They pumped and pumped and dumped their stock for profit leaving the rest of us in limbo. I called my broker and they advised me to just let the stock go........screw that......I smell a class action lawsuit to recoup our losses and maybe triple damages. I watched the stock turn into a Golf TV show to a health food company while I had no control where my investment was going. What are we waiting for .....how can we get this thing going?? Why are we just sitting around. They payed out over 24,000,000 dollars so far for wrong doing and we just sit here and wait for someone to make a move? Can someone help us out and steer us in the right direction. Enough is enough. The more posts and buzz we get going about the parasite, fraudulent, mis-leading group and bring them to civil justice the quicker we can have closure and redirect our hard earned money for other legitimate endeavors.

[acc724]

there are a lot of us still holding

[PRmaniac]

Treble damages for intentional fraud would be nice, especially if a jury awarded punitive damages plus actual. Unfortunately the T/A neither admitted or denied the allegations in the settlement. The court would not allow the "unproven in court" allegations by the SEC initial charges as evidence in another civil trial. The Class (if there ever is one) would have to try to get a jury more. Maybe, if Pagnano gets in trouble for insider trading, his SEC/court records could show that the T/A may have allowed the illegal transactions (54 of them, I believe). Their instructions (HRNF rules, set by HRNF itself) were to NOT allow issuance of shares directly to the CEO for conversion and dumping. Just because the SEC settled with the T/A, shareholders are not prevented from trying to recover. I didn't think of that.
Maybe they talked, thus the fairly light penalty?

[SevenTenEleven]

HRNF - No doubt a civil suit will be required to force the TA to make payment to shareholders.

They were the biggest bunch of bumbling idiots.

[PRmaniac]

They (T/A) settled the civil fraud charges. I haven't seen that they have been served by any concerned shareholders, or that they were ordered to pay any shareholders.

I see Pagnano was not charged for any of the crooked activity related to his World Golf memberships for shares/cash deals he was doing with his accomplice. That appears to have been a total scam, too.

[SevenTenEleven]

HRNF - Still holding quite a bit of those illegally issued shares.

Should be interesting to see what the TA is liable for with regard to damages and financial losses realized by investors and shareholders.

Tic Toc

[PRmaniac]

“Health Food” Company, CEO Fined by SEC



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The SEC filed charges against a Florida-based penny stock company, Heathrow Natural Food & Beverage Inc., and its CEO Michael Pagnano with defrauding investors after it put out phony press releases proclaiming large sales and fantastic revenue projections.

Meanwhile, the purported health food company had never actually manufactured any of the products it was supposed to have sold, nor did it have any of the distribution agreements with major retail chains that it claimed.

At the time, Pagano was busy prompting the illegal, unregistered distribution of billions of shares of company stock to several people or entities, including himself. He profited by more than $150,000 by selling 877 million of his shares into the market, capitalizing on the phony press releases that boosted 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.

The SEC separately charged New Jersey-based transfer agent Registrar and Transfer Co. (R&T) and its CEO Thomas Montrone with violating the registration provisions of the federal securities laws and failing to supervise firm employees who enabled Heathrow’s unregistered distribution of billions of purportedly unrestricted shares of its stock.

An SEC examination revealed that R&T repeatedly failed to detect and address blatant red flags in connection with more than 54 share issuance requests from Pagnano, including the fact that none of them were accompanied by legal opinions pertaining to the shares to be issued.

In every instance, the shareholder for whom the issuance was requested was not the shareholder covered by the attached opinion letter. R&T issued more than a billion shares to Pagnano directly in spite of the firm’s own written policy against honoring requests by company officers to issue unrestricted shares to themselves. R&T even made special accommodations so the firm could keep track of Heathrow’s unusually large and frequent issuance requests, which totaled 5.6 billion shares in 27 months.

Without admitting or denying the findings, R&T agreed to settle the charges and pay disgorgement of $24,265.86 plus prejudgment interest of $3,401.78 and a penalty of $100,000, and Montrone agreed to pay a $25,000 penalty.

[PRmaniac]

Pagnano may face prison time in the insider trading case. Plus, the investigation may reveal the scams he was pulling even before he was caught by the SEC in the latest case against him.

[homey_g]

Go ahead...this goose is cooked IMHO, pun intended!

[goose44]

pagnano's facebook page is back up. why don't we send him a message

[homey_g]

How could that possibly be true...

[SevenTenEleven]

HRNF - If that is the case. That is good news!

[goose44]

HRNF to be reinstated

[homey_g]

Agreed!

[moe_the_gyp01]

OMG, 7 billion shares os. Wait, let me guess. All short?

Yeah, got it.

Bwahahaha

[SevenTenEleven]

HRNF - Well lookie there...The glitch was fixed!

Tic Toc

[wiredawg]

Too bad, it's not reflected as a-buck ($1) a share on my portfolio. LOL

[SevenTenEleven]

HRNF - 1 share for a buck last week!

Fees I guess...

[Militia Man]

Three shares for a buck? lol Glitchy glitchy

[SevenTenEleven]

HRNF - Looks like another glitch...

Tic Toc

[Militia Man]

$1 a share?

[ChannelTrader]

Still holding shares here...you never know when these pieces come to life.

[SevenTenEleven]

HRNF - I Sit on a nice little position. Have no intent on taking any losses or write-offs.

Like many targeted OTC Pinks, there is more to the utter collapse than Mike selling shares.

Patience will be key.

Never play with money you can't afford to lose, or have stolen from you by a group of collaborating FINRA market participants/members.

Good Luck!

[wiredawg]

Yeah, me too..LOL

[wiredawg]

Rectified, how? I have 2.5 million brought way back in 2009...just sits there reminding me of my sucker call...LOL

Healthy gum...what the hell was I thinking!!!

[buffalo2222]

well I still would love to see him rot in jail.

[SevenTenEleven]

HRNF - Holding tightly onto my investment here! No reason to walk away.

Remember, billions of illegal equity entitlements issued by the retail brokers.

Those have to be rectified.

Much bigger picture than what is known.

Good Luck!

[wiredawg]

Nah, he'll get probation or some crap and move-on to his next scheme. Think about it ($150K) is not all that much in the whole scheme of things.

[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.”

[janice shell]

It's no longer an SEC registrant, so there's no registration to revoke.

[PRmaniac]

May get revoked? Apparently they do not have a transfer agent, either. Florida did revoke Heathrow, not sure about Delaware.

The SEC may revoke the registration of stocks. In some circumstances, the SEC may revoke the registration of a defunct company's stock. Section 12(j) of the Exchange Act authorizes the SEC to revoke the registration of a security if the issuer fails to comply with the federal securities laws. Broker-dealers may not execute any trades in stocks whose registration has been revoked pursuant to Section 12(j).

A defunct company may not have a transfer agent. In some situations, the defunct company does not have a transfer agent. Although the federal securities laws do not require a company to have a transfer agent, if a company does not have a transfer agent, investors are unable to receive or transfer their stock certificates. Sometimes the SEC has considered a company's lack of a transfer agent as a factor in determining whether to revoke the registration of stock pursuant to Section 12(j) for the protection of investors.

[SevenTenEleven]

HRNF - Holding certs and electronic markers. No interest in taking tax losses. No doubt doing so will be suggested.

Tic Toc

[seanman]

And don't forget the stemcell thing,and the shareholders,who if turned in their shares would be immune from the last,R/S...

I do remember $.20 being a price per share on one of the,"P.R.'s"..

[PRmaniac]

Heathrow - Revoked

Detail by Entity Name

Foreign Profit Corporation HEATHROW NATURAL FOOD & BEVERAGE, INC.

Filing Information
Document NumberF08000004202FEI/EIN Number593617006Date Filed09/25/2008StateDEStatusINACTIVELast EventREVOKED FOR ANNUAL REPORT Event Date Filed09/23/2011 Event Effective DateNONE

Principal Address
7025 CR 46A
STE 1071
LAKE MARY, FL 32746


Changed: 04/19/2010
Mailing Address
7025 CR 46A
STE 1071
LAKE MARY, FL 32746


Changed: 04/19/2010

Registered Agent Name & AddressPAGNANO, MIKE
7025 CR 46A
STE
LAKE MARY, FL 32746


Address Changed: 04/19/2010
Officer/Director DetailName & Address

Title CEO

PAGNANO, MIKE
7025 CR 46A - STE 1071
LAKE MARY, FL 32746

[SevenTenEleven]

HRNF - Not to worry, soon it will be revealed that the brokers were the ones selling illegal shares.

Just ask Etrade et al!

Tic Toc

[fusion3620]

So if wrong doing is proven to be true here, what's the chances of shareholders getting a piece of what they deserve from this thief pagano? Is that realistic or is should we just kiss our $ goodbye?

[PRmaniac]

I remember CEO Pagnano's scamming reports back in the world golf league days before IHUB developed into what it is today. I think it was on rbull, where a student was explaining how his dad and Mikey P. were friends. CEO Mike apparently approached his dad with a deal that would involve Mike telling his dad when to buy and sell shares to be guaranteed to make money. I'm pretty sure this could have been to help mike manipulate the stock price while issuing the fluff PR lies and would allow mike to use this and his own info to dump shares of his own company. The student explained that his dad never went through with the Pagnano scheme. I wonder if they will investigate what he was doing to shareholders back then. Heck, the winner of the Million $ Shootout TV Reality show didn't get the money. That should have already been in escrow before the event was filmed.
The Heathrow Natural scheme was just one of the latest, after the golf-related dilute rinse repeat biz no longer was viable.
Michael Pagnano's victims should be given a chance to appear to make a statement after his sentencing (he is still innocent until proven civilly liable and/or criminally guilty).

And then there is the more-recent real estate/financing business that might draw scrutiny, since Mike was very involved. Same dilution issues.

[janice shell]

Is it really a corrupt TA or only a few individuals that work there?

Hard to say without knowing more. In the complaint, the SEC says that some employees did improper things because they hadn't been trained not to do those things. That doesn't rule out the possibility that Pagnano conspired with one or more R&T employees.

If so, though, the CEO took the brunt of the blame. And it was specified in the complaint that he was responsible for some of what went wrong.

[janice shell]

Guess not. Did you read that entire post?

Companies that are not SEC filers can ONLY issue unregistered stock. But if they choose to do so, in order for it to become free trading, it must be eligible for an appropriate exemption from registration.

[Arthur]

If I remember correctly, HRNF sole and most cherished asset was the footage if an unaired, golf-based reality TV show. $685K worth of it.

That's what it "sold" to Mesa Verde before the company vanished.

[PRmaniac]

Did Heathrow ever really exist before it was created to provide cover to complete his distribution of over 5 billion shares to himself and others?

Pagnano and a business partner owned/controlled the private Heathrow and agreed to be acquired by Pagnano's publicly-traded company.

The SEC should look even further back to the World Golf League and the memberships for shares deals where his partner got tons of shares for memberships supposedly sold. I'm not sure any of the memberships were actually "sold" to real persons. When the shares were then sold into the market, I wonder who split the proceeds and was some of this money used to represent "sales"?

[6pack2go]

Let off lightly? Hmmmmm

The TA agreed to pay nearly $130k for their part in HRNF's CEO profiting $150k.... Not excessive but then again not a small penny for what was fraudulently taken... (at least from the report that I read)

[6pack2go]

Is it really a corrupt TA or only a few individuals that work there?

I mean look at the history and clientele list of this TA, they are no 'fly by night' operation.

[6pack2go]

Of course they were selling unregistered shares. There's nothing wrong with that.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=59434086


I guess that's another that Janice got wrong....

[janice shell]

lol, that's another problem.