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Yes, I am v. aware of BONZ.....taking right up where Hondo Mining left off. There were about as dirty an operation as I have seen. The CEO was paying himself $800K salary a year, while promoting worthless mine tailings. They actually built quite an operation, a lab, a processing plant, heavy equipment.....recovered no gold, but violated a host of environmental regulations and got nailed.
From your posts on the DD Board, I saw that you have identified Fred Bauman as a serial shell hijacker. And I thought he was only a promoter of worthless mining claims....he obviously has other talents.
I don't mind if you post some of that hijacking DD on the BONZ board.
The Bauman family (attorney Frederick Bauman and his wife Barbara McIntyre Bauman) took over the HMNC shell after it got revoked and they moved all the old worthless non-producing HMNC properties into their hijacked BONZ shell for some rinse repeat action.
Oh I see you've been on the BONZ forum already. Good stuff. Keep up the good work!
HMNC revoked:
https://www.sec.gov/litigation/admin/2016/34-78495.pdf
HMNC SEC Suspension for Financials / Filings delinquencies:
https://www.sec.gov/litigation/suspensions/2016/34-77759.pdf
Order:
https://www.sec.gov/litigation/suspensions/2016/34-77759-o.pdf
Admin Proceeding:
https://www.sec.gov/litigation/admin/2016/34-77760.pdf
HMNC is severely delinquent in filing their Financials and corporate filing obligations to the SEC. On Feb. 20, 2015 the SEC suspended 8 stocks from the Delinquent SEC Filers list, and it is likely that more delinquent Filers will be suspended.
Since Jan 1st, 2010 the SEC has suspended over 1290 stocks for Financials delinquencies. All of those Suspended stocks had their stock registrations revoked.
Shareholders should contact the company and pressure the Mgmt to file their delinquent Financials because ALL shareholders would be wiped out IF the SEC suspends the stock.
HMNC is on the list of delinquent filers:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=110680509
Gee, what a surprise. Data from one of Hondo's "consultants" is unreliable?
Change in Directors or Principal Officers
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
Termination
On June 16, 2014, the Board of Directors (the "Board") of Hondo Minerals Corporation (the "Corporation") formally objected to the actions of the Corporation's Chairman and Chief Executive Officer, William Miertschin ("Mr. Miertschin"), regarding his handling of certain matters relating to the Corporation's operations, policies and practices, which were not in the best interest of the Corporation and its shareholders. The Board, through its findings to date, has determined that William Miertschin withheld material information from the Board about the validity of Dr. Burke's analysis of the reserves located at the Tennessee mine in Chloride, Arizona as presented by Advanced Natural Technology Services and Rhena Drury, the President of Advanced Natural Technology Services. The Board has determined that Dr. Burke's findings are unreliable and the Board and the Company's shareholders should not rely on those findings as previously reported.
As a result of the foregoing, the Board has terminated William Miertschin as President and Chief Executive Officer and has requested his resignation as Chairman of the Board.
Appointment
On June16, 2014, in consideration of the termination of William Miertschin as President and Chief Executive Officer of the Corporation, and pursuant to the authority granted to the Corporation by Article 2, Section 4 of the Corporation's Bylaws and Sections 78.130 and 78.138 of the Nevada Revised Statutes, the Board of Directors of the Corporation has confirmed the appointment of Chris Larson, the Corporation's current Chief Financial Officer and a Director ("Mr. Larson"), to continue acting as the Corporation's interim Chief Executive Officer (the "Interim CEO") and interim President (the "Interim President") until such time that a qualified successor can be duly appointed.
Mr. Larson originally accepted such interim appointments on May 29, 2014, as disclosed on the Corporation's Current Report on Form 8-K filed on May 29, 2014 and is incorporated by reference herein. The biography for Mr. Larson was filed with the Securities & Exchange Commission as part of the Corporation's Current Report on Form 8-K as filed on December 12, 2011 and is incorporated by reference herein.
Miertschin steps down (sick), Larson(y) steps in, and Headin steps out. And Crown Capital defaulted on their deal (of course), and Hondo is going after the $2 million. Good luck with that.
You are about to get your wish. Sub-penny is just about here.
I wonder why this crap isn't in subpenny yet? Seems like this is waiting for PnD.
Did anyone really believe this company was worth $88 million? Anybody?
They have had to re-do last year's 10K five times as the result of fraudulent statements that the SEC took exception to. And no 2013 10K yet, now quite late. I think these guys have taken the money and are sitting on a beach somewhere.
looks like no buyouts here
This says a lot- Original unsolicited buyout offer from Zouvas of Magnolia Hill resources...Zouvas last name also attorney on for HMNC?? not sure what to make of all of it?
2 buyout offers both cause a spike in pricing- and then right back down- almost seems like a cheap way to have a promo??
Today's nonsense PR by Hondo is a last-ditch effort to raise interest. I am guessing that more stock will be (or has been) awarded to company management.
They still have the ability issue PR's but where's the annual report? About a month late at this point.
$800K a year for being a man with vision! A vision of how many investors he could rip off......
At least Miertschin stuck to just one scam at a time. The Hoofer seemed to think that the more scams he could simultaneously throw at investors (gold, firewood, houses, oil, etc.), the smarter it made him look.
Ouch......$800k for what? To pull a bunch of fiction out of his arse? Hope he gets nabbed and the $ is attachable.....He should be sharing a cell with the Hoofer.......??
Running a bit late with the 2013 10-K. I can only imagine the difficulty of preparing a 10-K with nothing but bad news. No gold produced, environmental violations galore, can't pay their consultant, and they've sold off much of their equipment for scrap value.
No, I have not taken a look at the SEC correspondence, should do that sometime when I have a few minutes. Any company that revises a 10K five times must be having some issues with the SEC.
As for the investors, I'd be pissed off too if I bought in at a couple bucks and see it at the current nickel. And, seeing Miertschin pulling down $800K in salary the last few years?
I see they haven't filed their 2013 10-K yet....
and what's with all the amended 2012 K's? Have you gone directly to the SEC site and read the correspondence?
I see this garbage still has a market cap about 100 times too high....I wonder if there's really 1400 shareholders? Regardless of the number, there's no doubt they are all rather pithed off.....
Hey, a post on this board - how novel!! And yes, the E-leech process is a scam, there is very little gold/silver in the tailings, and they are in deep doo-doo with the environmental regulators in this state. And yet they keep awarding themselves stock as reward for a "job well done". The share price has plummeted 98% in two years - investors should be furious (and I know for a fact, a few are).
Also, they have to keep amending last year's 10K (fifth amendment was filed a couple days ago). Apparently the SEC is not happy with what they are seeing in the filings. Wonder when the current 10K will be out, should be quite entertaining.
Yeah wow the iBox says it all here.. This companies "E-Leech" that they claim is trademarked is nowhere to be found on the USPTO site... That and any other patents or patent-pending claims.. Yep there's a scam in them thar hills..
In case nobody noticed, another 1.25 million shares awarded by management to themselves:
Aug 27, 2013 HEADEN JOHN CHARLES SKIPDirector 230,000 Direct Acquisition (Non Open Market) N/A
Aug 27, 2013 BOTELLO BENJAMINDirector 30,000 Direct Acquisition (Non Open Market) N/A
Aug 27, 2013 LARSON CHRISTOPHEROfficer 330,000 Direct Acquisition (Non Open Market) N/A
Aug 27, 2013 MIERTSCHIN WILLIAM ROfficer 630,000 Direct Acquisition (Non Open Market) N/A
Aug 27, 2013 SIEGEL HOWARD BRUCEDirector 30,000 Direct Acquisition (Non Open Market) N/A
Probably not the kind of reward these guys are used to at the current price of $0.07.
A Memorandum of Understanding is now an agreement to license Hondo's fake proprietary technology..... wow, talk about creating news out of nothing! Must be time for company management to award themselves more stock.
No link, sorry. But ADEQ is a public agency, and the information is readily available. This is the kind of DD that investors should be doing, not looking at phony PR's talking about phantom buyouts and carefully worded financial filings.
Ironically, there should be a link to a PR or a financial filing (8K) detailing their current environmental woes. This kind of stuff that affects Hondo's ability to "produce" is a material event and Hondo should be disclosing this to investors. Not that there is anything to produce.
At this point, Hondo has essentially shut down all operations in Chloride. They told the ADEQ inspector that they need "more power" to run their proprietary gold extraction equipment, and would be relocating their process closer to a power source. Okay, but then the tailings will need to be moved to their new process plant and an APP will need to be submitted not only for the original tailings pile, but the new pile as well. Good luck with that...LOL.....!!
OUCH!!!
That should be enough to cancel the purchase agreement (assuming it is real).
Do you have a link to the news? Thanks
Good luck to all.
News! Not good......
Hondo's operations in Chloride, AZ had a surprise ADEQ inspection in May 2013. The inspection was prompted by Hondo's failure to submit an APP Application by their deadline, and failure to submit a Storm Water Plan. ADEQ found the site to be mostly dismantled, with much of the materials and equipment sold or recycled.
In addition, Hondo is apparently not paying their consultant (Montgomery & Associates). Montgomery did get one task accomplished - the collection of some groundwater and tailings samples for analysis. The tailings results were described as "highly acidic". Oops.....
Last Price Today’s Change Bid (Size) Ask (Size) Day’s Range Volume
0.0825 -0.0225 (-21.43%) 0.0802 x10,000 0.100 x20,900 0.0825 - 0.105 306,000
OUCH!!!!
HOW IS THIS GETTING BOUGHT OUT FOR $88 MILLION???
Last Price Today’s Change Bid (Size) Ask (Size) Day’s Range Volume Trade
0.0925 -0.0125 (-11.90%) 0.090 x25,000 0.100 x20,900 0.0925 - 0.105 254,000
THE DUMP CONTINUES
HOW IS THIS GETTING BOUGHT OUT FOR $88 MILLION??? THIS MAKES NO SENSE.
WHY WOULD ONE SELL AT $.09 IF THE BUYOUT OF $88M WERE REAL? THAT WOULD TRANSLATE TO SOMETHING LIKE $.75/SHARE?
THIS IS ONE SCARY STOCK IMO
SUB PENNY BY YEAR END.
Last Price Today’s Change Bid (Size) Ask (Size) Day’s Range Volume Trade
0.130 -0.0055 (-4.06%) 0.120 x10,000 0.130 x14,000 0.130 - 0.130 10,200
WHAT A COLLASSAL PILE OF POOP. $.75/SHARE BUYOUT AND SOMEONE DUMPING AT $.13
IMO THIS WILL BE SUB PENNY BY YEAR END.
All good points, but the basic truth here is that the Hondo operation has very little value, and nobody in their right mind would pay $88 million for it. There is very little gold in the tailings, the Tennessee Mine was washed up and mined out 70 years ago, and their "proprietary" process is a fraud. Class desert dirt scam.
And, they are in serious trouble with the State of Arizona regarding environmental violations. It is quite amusing to read their 10Q which makes no mention of the Aquifer Protection Permit that they need to be legal, but brags about the violation for the air permit being dropped.
As for that 10 million dollar "bank instrument" - funky is a good description. I picture something written in crayon.
gitreal, they are out of money. take a look at current liabilities, they have a cash overdraft of $111,743 and when you net the two out they are $106k in the hole.
based on the current price, the selling of a lot of shares (since it was announced) I would have to believe this will never close at that price (or really never close at all). who in their right mind would sell at $.15 if they believed the sale would go through at $.75 (or maybe slightly less as management has stuffed their pockets full of shares).
also since this has been announced, why wouldn't the buying company take in all the shares they could get under $.25?
It would be interesting to see exactly what $10m bank instrument was put up, as if it is a letter of credit from a Panamanian bank it will never be cashed (I have no idea what it is but it sounds funky to me).
All my opinions and everyone should do their own DD.
10Q is out, these guys are just about out of money ($5K left). No wonder they have spent the last couple months granting themselves big blocks of shares for free or at "non market rates".
I wonder how that APP (permit) is going and how they're paying ADEQ's $117/hr. review fee and their consultant's fees? $5K would be chewed up in less than a week if they were really pursuing a permit to operate, which is doubtful.
I'm thinking the PPS increase of late indicates I'm not the only one with hopes here. HMNC
Well, while purely speculative, perhaps Crown sees a poorly-managed asset that could be profitable with the right capital investment and management. Also, the form 4 activity indicates that either this buyout is really happening, or some other catalyst will raise volume enough for them to make good money on their acquired shares. I suspect there is some headroom for investor or trader profit here. HMNC
Any particular reason you think so? I see no reason why anybody would buy out a company with no gold, no technology, and open violations with the State for their huge pile of toxic tailings.
Buyout possibility gaining legs? Thinking so. HMNC
Think I'll use up my 15 posts here...perhaps draw some attention? HMNC's gonna jump!
Alright, insiders, quit hoarding shares! HMNC
Wowser! Look at the form 4 stock acquisitions! Gee, I wonder WHAT could be going on??? Wink, wink...HMNC gonna go boom...
In fact all I have seen is buy orders.
Management has not reported selling any shares. The SEC requires a form 4 to be filed within two business days after a change in ownership. There are no filings on the SEC website. If management has sold shares and failed to report them, then they are in violation of the law.
That is a pretty easy %100 from today's close for those who like to play it safe.