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No, it is clearly in reference to HYRF and anything that comes out of their office. You can not believe anything they say. Well, technically I suppose you can believe it, but it is not advisable.
There is no truth to be found here. A hedge fund runs the show. The product offered here is paper. Tex, you have had more experience than anyone talking directly to George. So you know first hand that what he says is meaningless. Since everything we hear from sources turns out to be half truths or completely wrong, I conclude that the sources are talking to George too. We are watching this crap and trading in and out of it, but the noose is tightening on this play. The constantly bloating share count is making this a dangerous game. I suspect a R/S can't be far off.
Press Release Source: Pacific Financial Solutions, Inc.
Pacific Financial Lending Signs Largest Client to Date and Commences Collections
Monday July 2, 11:36 am ET
SALT LAKE CITY, July 2, 2007 (PRIME NEWSWIRE) -- Pacific Financial Solutions, Inc. (Other OTC:PFUO.PK - News), a leader in providing cashless ATM kiosks, Point-of-Banking (PBT) terminal technology, Alternative Financial Lending, and Collections Services, announced today the signing of their largest client to date and the commencement of testing on their bad debt portfolio.
Pacific has been increasing both clients and revenues in its Lending division's collections department and with the addition of this largest client to date, a client with over $90,000,000 per year in gross revenues and up to $20,000,000 per year in bad debt and collections, this client will significantly increase revenues for Pacific Financial Lending.
Bruce Grogg, CEO of PFUO commented, ``we have been working on contracting with this client for nearly 6 months, and with the recent upgrades to our systems, the addition of more space and additional personnel, we were finally able to accommodate the special needs that a client of this magnitude requires.' Mr. Grogg went on to say, ``We commenced testing this week and by week's end were already exceeding both the client's and our own expectations in our collections activities.'
With the addition of this new client, PFL's divisional revenues are expected to increase by an estimated $500,000 in 2007. PFUO remains on track to reach its revenue goals for 2007.
Honestly, what difference does it make? It simply bears out the fact that he never does what he says.
I would hope that what he files in an 8K with the SEC is a little more accurate than the cool aid he dispenses via the public domain...
....I would hope....
Form 8-K for HYDROFLO INC
2-Feb-2007
Other Events
Item 8.01 Other Events:
HydroFlo, Inc. held a stock holders meeting on January 19, 2007 and voted to change from a BDC (Business Development Company) to a 1934 Act Corporation. The effective date of that change is February 1, 2007.
Probably. I'm sitting here re-hemping my pipes. So I thought to see what's been posted lately. It's actually pretty encouraging to know people will still come along and buy.
In the previous PR about a Pennsylvania Golf Course installing the PLUS System, it also ends with the same paragraph as have all their PRs going back to the days they actually did search for acquisitions. So I guess they are going to buy out the golf course too? That paragraph about acquisitions was from when they were a BDC. That is what a BDC does. They are no longer a BDC and can't afford a pot to piss in. There will almost certainly be more PRs and probably more spikes, but they aren't buying anything.When they dropped BDC status they teamed up with a hedge fund called BCGU. Hedge funds are generally involved in private placement equity fund raisers. That is why under Moore, O/S has ballooned off the chart. I do have a suspicion that this old nag is good for another ride or two, but the last PR is one of many fluff bombs.
Press Release Source: HydroFlo, Inc.
Pennsylvania Country Club Places Order for HydroFlo PLUS(TM) System
Monday June 11, 6:00 am ET
APEX, NC--(MARKET WIRE)--Jun 11, 2007 -- HydroFlo Water Treatment, Inc. (HWTI), a portfolio company of HydroFlo, Inc. (Other OTC:HYRF.PK - News), announced today that a HydroFlo PLUS(TM) system has been ordered by a Pennsylvania Country Club. In April 2007, the HydroFlo Water Treatment PLUS(TM) system was specified as the preferred technology for this facility, which is located in the small town of Indiana in west central Pennsylvania. The Country Club was experiencing problems with odors and corrosion in their wastewater treatment process.
ADVERTISEMENT
The Plus(TM) System was preferred over traditional more costly methods. These traditional approaches typically employ the addition of chemicals and passive control systems, such as airspace biological treatment for odor control, but it was determined that the PLUS(TM) system would be more cost effective and reliable. The new system is expected to be delivered and installed within 8 weeks.
George Moore, President of HydroFlo, Inc., explained, "The HydroFlo Water Treatment PLUS(TM) system offers all types of customers the strong advantages of both competitive installation and startup costs while achieving lower operating expenses for control of odors and corrosion within the pipeline and sewer lift stations. Our technology continues to be specified as a preferred wastewater treatment solution due to its lower costs and ease of installation, operation and maintenance."
HydroFlo, Inc. is headquartered in Apex, North Carolina, and maintains a core focus to seek out synergistic acquisitions that will provide capital appreciation and income for its portfolio companies. The mission of HydroFlo, Inc. is to acquire and develop innovative technologies and businesses that will improve the quality of water throughout the world by means of detection, treatment and removal of contaminants.
Forward-Looking Statements
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
For more information, please visit www.hydroflo.us
The first phrase clearly says nothing more than to discuss opportunities.
The second is the standard statement that they tack on all their PR's.
The entire PR is a fluff bomb that says much of nothing.
...Duely noted.
I hate to be the one to point this out to you, but no where does the PR say anything about an up coming agreement. It says they met and talked and the Korean company is looking at the ARTI technology. It says nothing about any agreement that I can see.
Moore actually didn't "inherit" anything From Mast. He and Mast led HYRF into a P&D scheme. Moore was COO of MARTI at the time. A Dr. Neil Hill was brought in to "turn the ship around" and subsequently resigned for reasons stated in this SEC filing:
1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of the Securities Act of 1934
Date of Report: July 5, 2006
HYDROFLO, INC.
(Exact Name of Registrant as Specified in its Charter)
North Carolina
000-50355
56-2171767
(State of Incorporation)
(Commission File Number)
(IRS Employer Identification #)
2501 Reliance Avenue, Apex, North Carolina 27539
(Address of Principal Executive Offices)
919-772-9925
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
x Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
This document contains 2 pages, excluding exhibits.
2
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officer
On July 5, 2006, Dr. Neal Hill, resigned as Chief Executive Officer and Director of HydroFlo, Inc.,. Dr. Hill had held these positions since April 7th and May 20th, 2006, respectively.
Dr. Hill, a “turn-around” specialist, cited the following three reasons for his sudden and unexpected departure: 1) Breech of contract between HydroFlo, Inc. and Dr. Hill by HydroFlo Founder, Dennis Mast at the substitute annual shareholder’s meeting held June 29, 2006. 2) Mr. Mast’s attempts to coerce Dr. Hill into publishing favorable news to the public about HydroFlo’s activities, when, in fact, Dr. Hill’s due diligence continuously uncovered bad news, including a proposed reverse merge of one of its portfolio companies into a public shell owned by a foundation controlled by Mr. Mast, with the express purpose of artificially inflating the stock price of the new entity for the primary motive of raising additional capital. 3) Mr. Mast’s unwillingness to provide adequate funding for HydroFlo’s operations, a critical element in convincing Dr. Hill to accept the CEO position.
Additionally, Dr. Hill stated that raising debt and/or equity capital would be extremely difficult, if not impossible, because of liabilities associated with existing and contingent shareholder suits based on 2005 false representations by Mr. Mast and George Moore, two HydroFlo officers at the time, about company assets and related performance expectations; and, other threatened shareholder actions related to 2006 statements by Messrs. Mast and Moore regarding promised dividends that have never occurred; and, SEC sanctions against Mr. Mast and HydroFlo.
ITEM 9.01(d) Exhibits.
99.1 Termination Letter.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
HYDROFLO, INC.
July 5, 2006
/s/ Neal Hill
Neal Hill
_________________________________________________________________
Mast then moved over into the seat vacated by the rapid voluntary departure of Mr. Hill. A move necessitated by the SEC barring Mast from running a publicly traded company. Moore had been Chief of Operations at MARTI since 2004. The "inheritance" excuse doesn't fly with me. Don't try and tell me that Moore was unaware of what was going on. He was part of it as far as I am concerned. That is evidenced by the fact that since he hopped into Hill's still warm chair, the status quo has prevailed. Share price has plummeted while share count has soared. And the never ending string of broken promises continues.
JC
But TEX, it's not his fault. He inherited this mess.
...yeah, right...
I don't have any.
...BTW, I really hope we are wrong about Honest George. We haven't been wrong yet though.
Then he should not have lied over the phone for a year. He is no different. I don't care what you inherit, you can at least be honest when people talk to you on the phone or else decline to speak about certain things. But do not lie.
jc
It's a sad state of affairs. When I think about what might have been. This company has technology that works and would have made us all wealthy. And the clowns at the helm would be sitting pretty too. Nothing can explain this fiasco other than greed and outright stupidity. Had they spent all the time they did starting three years ago building a legitimate company...well it's almost too hard to think about it. This could easily have been a dollar+ stock with out dilution. But , no, MAST had to embark on a pump and dump fraud fest all because he was greedy and impatient. There is absolutely no excuse for what they have done. Larry, Curly and Moe could have done better than this.
jc
LOL...MY,MY,MY...The nut doesn't fall far from the tree, does it?
Mast must love pissing the SEC off.
Ro' yes it's me. I have in fact gotten entirely out of EYI. It's a hopeless paper machine, much as this has become. How have you been? Well I hope.
JC
That's encouraging. I am in the middle of changing from TDAmeriturd to RML Trading. I am flying blind ...neither account working. So I am keeping fingers crossed nothing significant happens one way or the other for this and the other pink I have now, PFUO.
Ahh...so there are shares being added little by little.
Share Structure
As of 06-01-2007
A/S 300 million
O/S 271,432,792
Restricted- 171,320,248
Public Float: 100,112,544
_________________________________________________________
The above is from the IBox. If true everything but the float is restricted? Am I reading that right? Are there no free trading shares out there waiting to be added?
...the chart looks terrible...
Don't let Ole' Jed fool you...
A4A...just my humble opinion, but I think the best thing to do if you want to take a pot shot at a valuation is to use the Total Authorized. In other words assume full dilution out of the gate. With an O&G play of any size, if they were letting their neighbors see their hand I would not have much confidence that they can negotiate leases for the best possible price. I have a relative in Atlanta who made millions riding into an area dressed like me in a modest vehicle and buying property that he later developed shopping centers on. The difference on making or losing money on a given project had a lot to do with how he first rode into town. The reason being that the land owners idea of the value of their land was based entirely on their assessment at first glance of uncle Jim's outward appearance. The less a lease costs ALRY, the more money YOU will make if things go well. It all comes down to whether we think the company wants to sell oil or paper. I learned a lot from uncle Jim. He said never get a real estate license...if you do, you are required to tell people up front that you are a realtor. He said anyone can buy and sell and develop land. If that's your game, a real estate license will cost you a lot of money.
I could see the point in this complaining if the company suddenly did a complete 180 degree turn from the way they do things. But they haven't. Why don't people seem to think it's an issue BEFORE they decided to buy? It's not reasonable to expect things to change from the way they have always been. One definition of less than rational thought is to do the same thing over and over and each time expect a different result. It's comical how a person can buy a pink sheet stock again and again and think something about transparency and pink sheets will somehow magically be different. If they were transparent, they would not be a pink sheet.
Why do people buy a stock and afterwards complain about the "lack of transparency" , etc? If there was none before they bought, why all of a sudden do they think things should now be different? It is irrational.
Thanks for the report.
Out of curiosity....did they do any of these things BEFORE you bought the stock?
jc
FAUCET...when you call, if you don't mind, ask them if they have recently done a private placement or any such thing to account for the stagnant share price. Growing revenues are great as long as they aren't growing the float along with it. I'm not suggesting they are, but I am curious to know who the seller is right now.
It's obvious more shares are going out. Hopefully just a matter of time.
Good...thanks.
It depends on things we don't see. The big question is share structure right now.
I was wondering that myself.
LOL. I've watched this POS for years and learned all I need to know.
It's amazing to think that not too long ago this was near a buck and a half a share. Now it's "buddy, can you spare a dime".
Truer words were never spoken regarding this POS
Closed at .02
A little activity today