Hitor Group Inc. (fka HITR)

[Nailthem]

There is a handful of folks that were approached after the company neglected to complete their annual corporate filing. The principals took this money knowing that Hitor was finished as an honest entity and still yet defrauded these good folks out of 10's of thousands of dollars. The principals I am referring to are Ken Martin and Ray Barner. We are in the process of filing an SEC fraudulence complaint against these individuals as well as a possible class-action lawsuit, as the corporate veil was removed for non-compliance. Anyone that is interested in entering into either the SEC fraudulence complaint or the class action lawsuit, please email me at [e-mail]. Thank you.

[wannabewally]

Heard someone playing Taps. Is there even a whisper that this might rise from the ashes in some way?

[ken5153]

Anyone hear anything at all on this???

[Randy1111]

I lost alot more than you. It just sucks

[Randy1111]

Yeah the whole thing was a cluster f...
Hitor Ken was a wanna be businessman scammer. Couldnt make a deal to save his life.

[GraceGirl]

My ex boyfriend urged me to invest with these scam artists. He knows them personally. Heck, he may be in on the scam, for all I know. Wouldn't surprise me one bit. I don't suppose there's any way to get my $5k back?

[here4beer]

Wtf happen here

[Randy1111]

Wow I am so shocked. Riiight
Its typical of a company who has a CEO who doesnt have a clue of how to make a deal. Good riddance to this piece of s... and to CEO Ken the clown. I hope he lost his shirt for touting all the BS for so many years. A holes like him deserve what they get. Hope youre a beggar in pike place Seattle.

[Renee]

HITR revoked:

https://www.sec.gov/litigation/admin/2016/34-79653.pdf

[LightandShadow]

Tax write off

[tumulusus]

Definitely GAME OVER...Message board also left by all....

[tumulusus]

Respondents’ answers are due by November 21 ... just a few days left ...

[lucky, mydog]

https://www.sec.gov/alj/aljorders/2016/ap-4361.pdf

[TenKay]

Once the stock is revoked (and that is pretty much guaranteed) they could theoretically re-register the stock via a Form 10 and audited financials. They would then need to find a MM willing to sponsor a Form 211 to come back to quoted trading.

But unfortunately that is highly unlikely.

Anyone who owns HITOR stock currently will own stock in a private company after it is revoked.

When HITOR stopped filing it had very few assets, significant liabilities and no apparent functional business other than spending money it got from stock sales and promissary notes.

[ken5153]

TenKay, so what would Hitor do moving forward from here? They will need to file financials going back as far as 4 years from what I understand. How long to do this and what else would they need to accomplish to be in full compliance? I ask this because the only reason I can see for them getting into compliance at this point is if they actually have some things in the works.

[Ca$h_Mere]

Got it, thanks!

[TenKay]

HITOR's supension was lifted last night at midnight. It was allowed to return to trading this morning at market open. HOWEVER, since it is now on the grey market, only matched trades can occur...there will be no quotes. since HITOR was thinly traded before the suspension it is highly likely it may not trade at all now. Will have to see if buyers and sellers can find each other....or not.

Also, since it is on its way to being revoked there may be little if any demand at ANY pps.

[Ca$h_Mere]

What does this mean please? I don't see any activity for this ticker on my schwab account.

[TenKay]

HITOR can resume trading today....on the Grey market.

[TenKay]

But hope springs eternal in the OTC

[Hanibal]

First stage of grief here, I think

[TenKay]

Only 4 or 5 OTC stocks in the last 10 years and 2500+ suspensions have been able to get a Form 211 submitted and approved by FINRA. In 2 or 3 of those cases they were SEC filers that never stopped filing.

So statistically the chances for this ticker are around 0.1% or 1 in a 1000 that it will ever come back.

That means 3-4 months is not going to reveal anything different.

[ken5153]

I don't believe it is over. They will need to redo their financials and submit along with appropriate paperwork and get MM to trade their stock. I would give it 3 or 4 months and if we see nothing then I will be taking a much different stance.

[ken5153]

I don't believe it is over. They will need to redo their financials and submit along with appropriate paperwork and get MM to trade their stock. I would give it 3 or 4 months and if we see nothing then I will be taking a much different stance.

[Randy1111]

Thats it . All over. Hitor Ken has no cash and has let it drop. Cant get blood out of a stone. Much more loss than you mentioned for me. Ken came off as someone who knew what he was doing and about 2 years ago I started getting a sick feeling that he was full of shit. Thats why when I saw the latest pump I knew it was was BS. I tried to tell everyone.

[tumulusus]

So if i understand correctly, nothing else to do than dropping the curtain here... with about 20,000 USD losses since 2011...
Ken ? Randy ? ...others ?

[dave 77]

Same here. I am doing just fine using my instincts and DD! Have a good one!!

[TenKay]

If they can convince an administrative law judge to not revoke then possibly. But as Janice points out, they are delinquent. What are they going to argue? BTW - there is no "delisting"...as they are not "listed", that only means exchange "listings". In this case we are talking about the stocks "registration", that is what will be revoked.

So once their registration is revoked, they can try to go through the registration process again by filing a Form 10, getting it declared effective and then finding a market maker to file a Form 211 on their behalf.

The statistics for all that happening to a suspended OTC stock are pretty dismal.

[ken5153]

Ok so the next question: is there anything they can do to avoid delisting? Also let's assume we se a complete delisting what do they need to do to get relisted aside from filing financials and how much would a relisting cost in general?

[Randy1111]

I still look at it this way the company had no money yesterday or the week before or for the last few years. What was going to happen was inevitable. Hitor Ken ran this show like the amateur he is and a company is usually only as good as the management. I should say Lotor Ken has proven his incompetence and hopefully lost his shirt , but it wouldn't surprise me if he put a few dollars away in the form of a hefty salary the last 4 or so years.

[janice shell]

You're welcome!

[Curt D]

I see. Thanks for the clarification. Much appreciated!

[janice shell]

No, you have it backwards. First, it will resume trading on the Greys on the morning of 16 November. It will be officially delisted to the Greys before that; probably on Monday, though it could happen as soon as Friday. You'll see it on OTCMarkets. It will be tradable on the Greys.

The revocation process is another issue. Once the company is served with the OIP, it'll have 10 days in which to make some kind of response. Or not. In their response, they can, if they want, simply agree to revocation of registration. They also have the option of protesting revocation, but I don't really see how they can do that effectively. They ARE delinquent.

First, there'll be an Initial Decision. Then, no less than 21 days after that, the initial decision will become final. And then the ticker will be deleted. It will no longer be tradable, unless shareholders want to try to arrange private transactions among themselves.

As I understand it, though--I've never owned a revoked stock--the shares will stay in your account; they just won't have a value or a ticker.

[Curt D]

Okay....thanks for the info. I've already considered it to be a total loss.

I don't blame anyone, this kind of thing happens sometimes. I don't think there was any evil pump intentions, just a bad mistake!

[TenKay]

It will be able to trade on the grey market starting on Nov 16 before it is revoked. It's revocation could occur 60-90 days after that depending on when the administrative hearing is.

It's pps will likely get crushed 60-90% when it starts trading...if it trades at all. There is a possibility that it might rise a little over the day if the opening low is at the high end of the above discount range.

However, if it does have any volume, most of it will come in the first 2-3 trading days and then it will go down significantly...again, if it even trades as there wasn't a huge amount of consistent volume before the suspension.

[Curt D]

Question for you. I understand that once they are revoked, the ticker disappears from your account . (Ameritrade in my case).

Then they go to the grey market. So how do you trade them on the grey market if it's no longer showing in your Ameritrade account?

This seem to be the only way to POSSIBLY get some of your money back. Although at a greatly reduced amount.

[LightandShadow]

Same here couple guys I thought were trust worthy

[Ca$h_Mere]

I bought the POS on Monday..

[Randy1111]

If you bought this last week you might as well put it through as a loss in this years taxes.

[Ca$h_Mere]

So did we just take a 100% loss here? What really next? Serious answers please.

[Randy1111]

Ken you got to know it was a pump so someone could dump some shares. When this goes grey think of it as Turning the lights. Once it goes grey it never comes back. Turn out the lights. Its over everyone.

[ken5153]

Well I think it is safe to say no matter what you believe about the future of this company, there will be no news announcement for many weeks to come (If there ever was one to begin with). Disappointing...

[Randy1111]

Seen this happen once before wish I could have been one of the lucky ones to dump what i had. Wasnt near enough to my computer.

[janice shell]

If they have stock you would think they will take care of this?

Highly unlikely. The SEC's policy these days is to suggest to these companies that they accept revocation of registration and then, once they've got their books in order, start again from scratch by filing a new Form 10 if they really feel like being a public company.

[janice shell]

But where it came from is very encouraging since they seem to know ahead of time…

Too bad "they" didn't know ahead of time about the suspension.

[Hanibal]

So who was the first scumbag to tie this ticker to MJ? Come on, fess up.

[ken5153]

WOW... What else is there to say... Frustrating

[FIERCE]

Not cool... I resign as mod

[Randy1111]

Done like dinner.

[TenKay]

The ticker is done. After 10 trading days it will re-open on the grey market. Nothing can change that.
Revocation proceedings have started.