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I have any the secretary says the same thing she did the whole time they were diluting the past 3 months that they will update the website soon.
The MM's arent painting anything and IMO there is no buyback going on. BUYBACK would equal PPS increasing not staying stagnanat and gaining MM's on the ask up to 6 now. I wonder why the company hasnt updated the share structure as of the end of February yet. I would be willing to guess its higher then the Feb 15th update.
I have posted nothing but facts on this board.
Fact the company has been diluting like crazy. Show me that I am wrong. 1 billion float to a 4 billion float in 2 months is major dilution. 2 A/S increases in the same period of time is pure garbage.
Remember there is a reason this was no bid a few weeks ago and a reason it couldnt break .0004 on the supposid huge news.
They must have needed a lot of cash because they sure have sold a lot of shares. My guess is it was to pay the electricity bill because the printing press has been running for 24 hours a day printing the new shares so they can dump them through HILL.
HCPC 3 billion served in 3 months.
Funny everyone here is focused on a supposid buyback when all that has been going on since last july is the company selling shares and raising the A/S 4 times.
People need to concentrate on what is occuring now what they hope will occur.
Great time to do build some condos at a time when the real estate market in the west is at its worse in quite some time. Funny the speculation that goes on this board.
What concrete proof do you have that this is the real deal ?
All im going to say about the buyback is if they would have not dumped billion of shares since the 10/18/07 PR maybe the tidbit about a buyback would have actually had an effect on the share price.
Dont you think if this product was so revolutionary and going to close they would have been able to raise the funds through a private placement instead of diluting their shareholders to the tune of billions of shares in order to close the loans ?
• In early 2008, Heritage will introduce a residential mortgage product to answer the sub- prime crisis.
If this was really true dont you think someone else would have launched it already instead of some triple zero tiny company ?
So you expect more interest on a loan closure smaller then the last one ?
Heres something else I find odd about this whole situation. Apparently Rick told a poster that even though the loans have closed that they are still holding the loans in house until the credit crisis is in a better state then it is currently. This makes no sense to me. If they were able to get the loan closed and funded the process should be finished and they should be able to award the funds to the applicant. The difficulty is in access to the funds and if they have truly gotten the loans financed and closed there should be no further hold ups. IMO
Are we sure that closed doesnt mean HCPC has done all from their end and not that they have been funded ?
I didnt see much evidence of new money coming in this last week. Volume was way down compared to the previous weeks in which 2-3 billion shares were traded. If anything I think the interest is down. Investors have a hard time holding a company like this one espeically when there is still room for more dilution with 2-3 billion left after the last A/S increase and update.
It is very difficult for a stock to make a significant movement upward with a float so large and also a company that has shown that they like to sell new shares into the market.
The TA is gagged so you are only going on the numbers the company is giving you.
Company willing to sell shares + Gagged TA = BAD NEWS in pinkyland.
This is about the 4th week in a row youve stated this.
Do you have any evidence to support your opinion ?
More paper for the printing press is my guess. Thats what theyve used it for the last 4 times theyve raised the A/S.
Its a triple 000 for a reason. If this was really going to .08 cents dont you think the buying pressure would be much heavier then it has.
If the 400 million deal was closing wouldnt the company putting in for it and their family be buying as many shares of HCPC as they could if they were going to make 100-1000x their money. Theres a reason this stock sits where it does.
Your personal vulgar attacks against me were unwarranted and unaceptable.
I dont see how this issue is so easily written off also when his wife is the CEO of the same type of company. This could easily be happening of happen again IMO.
Litigation Release No. 17846 / November 18, 2002
Accounting and Auditing Enforcement
Release No. 1668 / November 18, 2002
Securities and Exchange Commission v. Ed Johnson and Merl Holdings, Inc.com
SEC Sues MERL Holdings Inc.com and Ed Johnson, its Chairman, President and CEO, for Accounting Fraud and Insider Trading
In Separate Administrative Proceeding, SEC Sues Outside Auditors for Improper Professional Conduct
On November 18, 2002, the Securities and Exchange Commission filed a civil injunctive action in the United States District Court for the District of New Jersey alleging that MERL Holdings, Inc.com ("MERL"), a New Jersey-based company, and Ed Johnson ("Johnson"), its chairman, president and CEO, violated the antifraud provisions of the federal securities laws by engaging in a multi-faceted fraud designed to raise money in the public markets. The Commission's Complaint alleges that MERL inflated its assets and financial results in two of the company's registration statements filed with the Commission and disseminated to investors.
The Complaint alleges that Johnson orchestrated the fraudulent scheme in four ways. First, MERL and Johnson artificially inflated the value of assets that MERL had acquired from Hanold School Stores, Inc. ("Hanold"), in exchange for shares of MERL's preferred stock. The Complaint alleges that MERL's treatment of the Hanold assets was improper and violated Generally Accepted Accounting Principles ("GAAP").
Second, the Complaint alleges that MERL and Johnson improperly consolidated Essex Industries, Inc. ("Essex") in MERL's 1997 and 1998 financial statements. Essex was the only bona fide operating entity in MERL's financial statements and accounted for all of the company's revenue recorded in its 1997 and 1998 income statements. Essex also comprised virtually all of MERL's assets in 1997 and most of 1998. The Complaint alleges that MERL's consolidation of Essex was improper because, among other reasons, MERL had been specifically enjoined by a Virginia state court from exerting any control over Essex. The company's consolidation of Essex's results in its financial statements therefore violated GAAP.
Third, the Complaint alleges that the Management's Discussion and Analysis ("MD&A") sections of both registration statements materially mischaracterized the financial health of MERL. The Complaint alleges that an objective view of the company was that it was in dire financial straits because of severe liquidity issues, drastically declining sales, disappearing customers and numerous legal problems. The Complaint alleges that as chairman, president and CEO, Johnson had a clear view of MERL's bleak position, yet improperly painted a prosperous and optimistic picture of the company and neglected to disclose any of the liquidity problems or negative sales trends in the MD&A sections of the registration statements.
Fourth, the Complaint alleges that MERL amplified its financial irregularities by issuing false press releases, which materially misrepresented the financial condition of MERL.
Finally, the Complaint alleges that Johnson benefited from his fraudulent scheme by avoiding losses or becoming unjustly enriched by selling MERL stock while in possession of material nonpublic information concerning these accounting irregularities.
The Commission's Complaint seeks to enjoin MERL and Johnson permanently from violating the antifraud provisions of the federal securities laws, Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder, and seeks civil monetary penalties against Johnson. The Complaint further seeks to bar Johnson permanently from serving as an officer or director of any public company and also seeks under Section 603 of the Sarbanes-Oxley Act of 2002 to bar him permanently from any future participation in the offering of any penny stock. Finally, the Complaint seeks disgorgement, prejudgment interest and penalties from Johnson for insider trading.
Simultaneously with the filing of the Complaint, the Commission entered a settled administrative order related to certain of the conduct described in the Complaint. Without admitting or denying the Commission's findings, three of MERL's independent auditors, Michael G. Horsey, CPA, the engagement partner, Michael D. Watson, CPA, the concurring review partner, and Sallie D. Feldman, CPA, the audit manager, consented to an order pursuant to Rule 102(e) of the Commission's Rules of Practice, finding that each engaged in improper professional conduct. The order denies Horsey, Watson and Feldman the privilege of appearing or practicing before the Commission as accountants for periods of two years, ten months and six months, respectively. See SEC Administrative Proceeding File No. 3-10937, dated November 18, 2002.
Note to Texas. None of my posts are in the violation of the TOS. The only reason people dont want me posting here is because they cant answer or address the issues I bring up.
Heres another for you. You claim dilution is not going on and the company is done with dilution ?
Then why did they recently raise the A/S 10 billion ?
Also let me do some math and this is assuming that the company were to close the 800 million in loans that is only 40 million in revenue to HCPC.( Keep in mind they dont even show 500 million pending or closed on that professional website that they show the status of loans. This board acts like the company would be generating 800 million in revenue which is not true.
Why is Phase 2 which was supposed to close on friday not listed there ?
You would think the company would want to put every loan that they were "closing" up.
Not having the financials out a month after they should have been out is just showing that they havent stuck by their word.
.03-.05 cents ? .10 with a buyback ? You surely have to be kidding.
You do realize the market cap would have to be exponential at those price right ?
So your logic is that the O/S makes no difference ? Two 1 billion share days should show you that O/S does make a difference. When you have a bloated O/S like this one it makes it very difficult for it to move.
The company has proven my point that dilution is occuring. They admit to diluting 3 billion shares give or take in the last 2-3 months and havent updated it as of the end of February.
As of February 15, 2008
Authorized Shares: 10,000,000,000
Outstanding Shares: 5,852,374,517
Float: 4,096,423,102
Shareholders: 354 common of record with the
company's transfer agent
At this time, no shares have been repurchased by the Company and no shares have been sold by any officers or directors of the Company.
Fiscal Year Year End: December 31
I would be very suprised if the company has bought back any shares.
I would be interested to see how many shares that HILL has sold in the last 3 weeks.
Float shrinking ? What are you basing your prediction that they have been buying back shares on ?
Wont make a difference with the company selling shares like they have been. 11.1 Million in loans with 2 billion share days could propel it over .0004.
I have posed some questions to the board tonight regarding the financials and have not gotten an answer...I wonder why that is ?
Could it be because noone on this board posts facts.
Posted by: Crooner
In reply to: surfkast who wrote msg# 20233 Date:2/20/2008 10:52:56 AM
Post #of 32724
I was told R/S would be announced shortly after the first loan closing...when I pushed for a clarification on how soon after the closing I got no response...fwiw
This stock will only see a penny if and when they do a reverse split. You do realize the O/S is at least 6 billion right ?
You do realize what kind of income you would need to justify that type of a market cap right ?
And my price prediction is correct it hasnt even touched .0005 yet even though the loans closed.
Two over 1 billion share days and it couldnt crack .0004. I wonder why that is ?
The only thing HCPC is gonna rock is the printing press its been hard at work for the past few months.
It has not broken .0004 since the huge milestone of closing the loans occured.
It broke .0007 in december right before the company starting really dumping shares.
A posting on a website means nothing. Also the speculation that the company has been buying back shares is just that speculation. IMO the company has still been diluting. HILL has been constantly on the ask.
Further proof is that after the supposid milestone the stock still hasnt been able to break .0004. People are starting to lost interest here. Companies that continue to dilute are not trustworthy and will not have a strong shareholder base.
What is that an answer to ?
Year end was Dec 31st 2007. None of these loans closed before that so how would they be included in the year end statement ?
I dont know what is more irriatating about this stock the fact that the company was supposed to have this contract with global staffing done already or the fact that there is no way the A/S is 100 million.
I hope we get some clarification on both in the coming weeks. If not I may have to head to the desert and swing by morleys office to see what the deal is.
HCPC is in the developmental stage. Even though the loans have been funded (according to the company) they still have yet to been awarded to the borrower.
Also this company had been diluting like crazy. Your claim that they are no in the developmental stage is wrong if they were an established company they wouldnt have a share price of .0003 and billions of shares outstanding.
It should. Just another thing that doesnt add up with these guys. I know it would be something I was concerned with if I was a bagholder er... I mean shareholder.
How is a year end financial statement delayed by something that didnt happen in the year the statements are for ?
Here's some food for thought.
I believe the year end financial statements were supposed to be out in mid february which has long passed. When questioned the company said they would be out in mid-april because they would be signifigantly impacted by the loans closing,( I am basing this on info posted on the board).
Doesnt this throw up a red flag to any of you ? These loans closed in quarter 1 year 2008, not 4th quarter 2007 and would have no impact on revenues for the 4th quarter.
Makes ya wonder doesnt it ?
Good for you go for it. The words in that post are straight from another poster that supposidley spoke to Rick. Nothing I have posted has been false...the people that should be reported are people like you that pump this stock while the company dilutes.
Did you read my post ?
How bout my prediction about this going to no bid ? And then the one about even if they PR the loans closing not much is going to happen with the price ? All which have come true.
The proof that they are closing loans is the PR's correct ? I dont believe a word they PR because they have never actually done anything they PR.
The loans that supposidley closed havent even gone to the companies that applied for them because of the credit crunch.