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Guy for what???
Hansen???
jmo
Melissa Rice and Charles Hansen and the rest of the scumbags are at it again. Posted this over on DRGZ also. These scumbags got us on that one (DRGZ), please go to that board and read all about them. Garbage in Garbage out. Hansen & Rice, two lying thieves.
Just thought I'd drop a note for everyone who got burned here that we weren't the only ones.
http://www.sec.gov/news/press/2012/2012-82.htm
Melissa Rice agreed to disgorgement of $422,445, prejudgment interest of $39,239.18, and a penalty of $60,000 as well as a five-year penny stock bar and three-year prohibition from providing professional legal services connected to the offer or sale of securities.
The SEC further alleges that Charles Hansen III of Lighthouse Point, Fla., succeeded Halperin as HydroGenetics CEO in April 2009 and signed five corporate resolutions authorizing HydroGenetics to illegally issue stock that Rice then used along with her opinion letter to facilitate the scheme.
According to the SEC's other complaint filed in Miami, Sepe and Halperin schemed with Miami-based attorney Melissa Rice and others to illegally issue and liquidate 90 million unregistered shares of HydroGenetics from April 2008 until at least June 2009. Sepe headed a group that purchased convertible debt of a South Florida publicly-held company. He then formed HydroGenetics and parsed out portions of the convertible debt to friends, family, and others who converted the debt to stock that they then sold publicly. Sepe sold HydroGenetics stock without any exemption from registration the securities with the SEC. Halperin was the HydroGenetics CEO and a director. He executed corporate resolutions to help issue millions of shares of HydroGenetics stock, including 11 million shares to his daughter who he told to sell it and funnel a portion of the illegal proceeds back to him. Rice assisted Sepe in converting convertible debt to unrestricted HydroGenetics shares, and wrote four opinion letters improperly opining that the Rule 144 safe harbor was applicable and the debt could be converted to unrestricted HydroGenetics shares. Rice also sold her shares of HydroGenetics stock.
Fwiw, the suspension lifts tomorrow, but it will probably be grey market until the company does something about that.
Thanks ADAMA I did not know what to do.
You should file a complaint with your state's local district attorney's office and file a complaint with the SEC.
The chances of monetary recovery is remote unless a class action lawsuit is brought against HYGN.
Additionally, you can simply write it off as a tax loss.
My $0.02.
GLTY and GLTA.
-Adama
How do we get our money back?
Thanks Renee - Looks like HYGN is toast!
You can always sell at Market to achieve a loss, once the suspension is over.
jmo
worth to keep an eye on when trading resumes
HYGN
So now what is the question I had?
If we can't sell the stock for a loss, is there any way to claim these losses against any gains we may have made, say for this 2012 fiscal year?
Who cares? Thats penny stocks. You have to remember you can not let it get to you. Move on to the next one.
My first ever pos to get stuck in like that. Wow what a mess this one is and now I'm just another stuckholder I guess jeeesh . On to the next one to try and make up the loss .. Was holding 3 milly shares ouch
I DO know about Earnest's stats. They are spot on. This scam is now kaput. The charges make it clear that the SEC is serious. Many temporary SEC suspensions never result in charges being filed. Too late here, it's already been done.
It will be interesting to see what occurs in a few weeks. Take care!
You can still trade Grey sheets and profit bro
I dont know about your statistics but anything is possible in pennyland!
When 99.99% of Grey Stocks never make it back to Pinks ... HYGN is DEAD ... call the Undertaker.
lolol
jmo
Its hard to know. Maybe it will maybe it will not. You can not win them all.
Look at the history of Greys. They almost NEVER make it back.
They are DEAD.
And so it shall be for HYGN.
hope it works out for YOU!!
jmo
May or may not who knows. Thats the penny market. Hope it works out for you.
NAW ... too many other clean Pinky shells.
This one would require audits, a 15c211, a Reverse Split ... too much work to make it worthwhile.
Grey Sheet Stocks Very Rarely ever make it back to the Pinks.
jmo
Someone who would want to clean it up and go public. Hope it happens for you.
Who would want a dirty Grey Sheet shell like HYGN??
lolol
jmo
You will have to wait and see. Someone might get the shell. You will know in a few weeks.
Looks like it might have been. LOL!
Heading to the Grey Market. No market makers can make a market in HYGN any longer.
jmo
REALLY??? Looks like the DD about a Deal coming was All Wrong. JMO
The SEC further alleges that Charles Hansen III of Lighthouse Point, Fla., succeeded Halperin as HydroGenetics CEO in April 2009 and signed five corporate resolutions authorizing HydroGenetics to illegally issue stock that Rice then used along with her opinion letter to facilitate the scheme.
The individuals agreeing to settle the SEC's charges in the complaints without admitting or denying the allegations are Sepe, Halperin, Rees, Rice, Ettelman, and Hansen.
Sepe agreed to disgorgement of $1,416,466.16, prejudgment interest of $126,761.86, and penalties of $185,000 as well as a permanent bar from participating in an offer or sale of penny stocks.
Halperin agreed to disgorgement of $427,609.95, prejudgment interest of $33,595.33, and a penalty of $100,000 as well as a permanent penny stock bar and a five-year officer and director bar. He also agreed to surrender 1.97 million shares of HydroGenetics stock.
Rees agreed to disgorgement of $5,982, prejudgment interest of $406.25, and a penalty of $7,500 as well as a one-year prohibition from providing professional legal services connected to the offer or sale of securities.
Rice agreed to disgorgement of $422,445, prejudgment interest of $39,239.18, and a penalty of $60,000 as well as a five-year penny stock bar and three-year prohibition from providing professional legal services connected to the offer or sale of securities.
Ettelman agreed to disgorgement of $32,667, prejudgment interest of $3,093.27, and a penalty of $25,000 as well as a five-year penny stock bar and the surrender of 300,000 shares of HydroGenetics stock.
Hansen agreed to a $37,500 penalty.
As a lay person I would have to guess that HYGN is now in the process of being shut down. The President is in trouble and all those who are listed in the release who were involved in HYGN. I would guess that HYGN will now longer trade and you now own wallpaper. Sorry --IMHO
Lawsuit?call broker?
I read the info,now what?
See my latest post... dont think this is good news for the shareholders!
Maybe some good news will come soon!
Wake me up when we resume
Guess he waited too long to file the 15-12g. It will probably get overturned, but it takes awhile...snore
Guess Im stuck here for a bit . Only had 3 milly shares anyway for a lotto but was really expecting this one to heat up after the 12 15g
Great thanks for the info. I was wondering why it was not coming up on my L2
HYGN: SEC Suspension:
http://www.sec.gov/litigation/suspensions/2012/34-66898.pdf
ADMIN Proceeding:
http://www.sec.gov/litigation/admin/2012/34-66900.pdf
Cease and desist Order
http://www.sec.gov/litigation/admin/2012/33-9321.pdf
Yeah let them bail.. HYGN is super thin and stronger hands accumulating. THats why I have said for people not to buy with money they need right back out. This could be a few days or a few weeks but the payout will be worth it.IMO
Has anyone made contact with the CEO from the # on the 15-12g
Yep will be over.005+ in a instant once news or filing hits
This baby moves in air. Will run hard IMO. Should be a good one!
This stock really needs to stop with the 75% bidwhacks each day, gonna take news at this point, too many bailing for now.
If this stock jumps at all, you will see every member of this board for longer than 2 months dump every share they can and run like hell the other way. Will be enough to sink whatever potential gains are out there.
Yeah I hear ya but it's pretty cheap here and if I have learned anything in my years of trading pennies is history usually repeats itself . This pop hard once before and I'm looking for it to heat back up myself
Hate to do that. Feel twice as dumb if it doesn't work.
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Hydrogenetics Inc.
4770 Biscayne Blvd. Suite 1480
Miami, FL 33137-3243
Hydrogenetics has developed, perfected, and filed patents for a new, unique, and cost effective hydrogen combustion technology device. This aftermarket device is a new revolutionary radiator/ventilator concept system in a stainless steel case that will increase the gas mileage on any internal combustible engine (car, boat, plane etc.) This new stainless steel hydrogen generator/reactor system generates stable hydrogen gas on demand and is 300 times more potent than any fossil fuel available in today’s market (gasoline, diesel etc) The easy to install device is safe (non-explosive non-flammable), efficient, and cost effective, not dependent upon fossil fuel and does not create green-house gas by-products.
This new stainless steel hydrogen generator/reactor system that generates stable hydrogen gas on demand technology is unique and original in design. It is not a rehash of existing technology, but a staggering new innovation.
Our team of expert engineers, scientist and inventors studied the water fuel cell device invented by American Stanley Allen Meyer, which he claimed could convert water into its component elements, hydrogen and oxygen, using less energy than can be obtained by the subsequent combustion of those elements, a process that results the reconstitution of the water molecules. Thus, if the device operated as claimed, the combustion cycle would start and end in the same state while extracting usable energy, thereby violating both the first and second laws of thermodynamics, allowing operation as a perpetual motion machine.
Using this theory as a starting point and their own 25 years of research in Hydrogen technology, Hydrogenetics team of expert engineers, scientist and inventors began to create a new unique and original system
Florida Atlantic Stock Transfer, Inc.
954-726-4954
Kramer Weisman and Associates, LLP
12515 Orange Drive
Suite 814
Davie, FL 33330
HydroGenetics Inc.
JEFFREY ROSS
Sr. Vice President Investor Relations
Phone # 305.572.9850
Fax # 305.572.9851
Resin columns and Water wash tank (3,000 gallons)
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