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Been with this stock for a while now. I've been very positive on it. Now I'm convinced that it is smoke & mirrors. Opportunity to sell shares - nothing more, nothing less. I'll hang onto a few shares on the off chance that I'm wrong, but the bulk I'm dumping at the first opportunity (if anyone will buy - doubtful now). If I eat my words then I just eat my words. Time to move on from this. I can tolerate b.s. for so long before I'm the one at fault for buying into it.
au revoir!
Could be the same dilution nonsense we saw back in July of this year, which would be extremely disappointing.
Wow. That is a new one on me. Apparently I'm more of a novice than I realized. So why wouldn't they just sell the 2s as-is?
That is interesting. Why is that a good sign, in your opinion?
Well, that is good. But money talks and b.s. walks. I'm still rooting for them, but with cautious optimism. Gotta be a realist.
They were supposed to issue a formal PR this week. If it isn't issued by COB today, then I rank this "company" along the same ranks as any sub-penny POS. I had a strong belief that this company was different from the other sub-penny stocks. However, after that lovely dilution parade a few months back, and now the constant "next week, next week" b.s., they'll have to do a whole helluva lot before I sink one more penny into their stock. Will probably sell a.s.a.p. after today if it becomes clear that they're doing a song-and-dance. I'll be done with them pretty much for good and will move on permanently. And with all of these shares trading, it may be another dilution scam. I may have been better off using this money on lottery tickets, or at least buying shares in a real company. We'll see.
New post today on Hollund's blog. Not much, but an update.
http://hollundindustrial.com/blog.html
Thanks for this!
For me it isn't about belief. It is about what you can risk, and how the company looks in comparison to others in the same realm. Anybody worth their salt that trades in the sub-pennies knows how high the risk is, and it is all about what you can spare to lose. You can yell scam all day, or praise the company to the hilt. But the bottom line is we're in high risk territory. If you can't live without it, don't speculate with it.
Way to go, Camelot. Is there an emoticon for the middle finger?
http://www.sec.gov/litigation/admin/2013/34-70133.pdf
We'll see.
Agreed. I think that during their next shareholders' meeting they need to address if there is a plan to fix this. Without finding a way to fix that, the pps will never escalate to a significant amount. IMO
Same here.
Good question.
Coast Eco Timber has a 15,000 hectares concession in the region for a 15-year time frame. The size of Lake Bayano is about 353 sq km, which translates to approximately 35,300 hectares. So, if my math is correct, removing Coast Eco Timber's concession from the equation, this leaves almost 20,000 hectares for additional work.
The observation is valid. I would think that a request for those specifics can be posed to the company, either directly or at the next shareholders' meeting, assuming it isn't in the next quarterly report.
Orangeman3, time will tell who is correct and who is not.
GLTA
The funding appears to be there...
"Hollund Industrial Marine Secures Funding For Acquisition & Concession Development"
Wed Jun 26, 2013 8:47am EDT
http://www.reuters.com/article/2013/06/26/wa-hollund-industrial-idUSnPNFL38668+1e0+PRN20130626
And who are you to determine who should and should not be investing?
Oh yeah, just some guy on the internet.
That explains it. I'll just ride it out until this person is out of shares. Lord knows how long that will take, but IMO it will be worth it.
Thanks, intergracer02!
And I'm beginning to think that the owner of these C Class shares is intent on depressing the price as much as possible. Why else would they not allow the price to escalate (as it clearly would without the dilution) and make even more money, if there wasn't an apparent agenda?
Or, could it be that they have so little faith in the future of the company that they think it is better to cash out now than to wait any longer?
Again, just a thought.
Is it possible that this is where the dilution is coming from, and not necessarily HIMR directly (from their most recent quarterly report)?
"During April 2011, the Company entered into an agreement to convert 700,000 shares of the former Series B Preferred Stock into Series C Preferred Stock. The Series B Preferred Stock was originally issued by the Company as partial payment on the debt owed for the HIRS acquisition.
The estimated value of the shares is $1,400,000.
a. The agreement was entered into pursuant to Section 4(2) of the Securities Act of 1933, as amended, and Rule 506 promulgated thereunder;
b. The transaction was unregistered;
c. The transaction was executed via a private agreement and not a public offering;
d. The agreement called for 700,000 shares of Series C Preferred Stock to be issued;
e. The agreement called for the cancelation of the shareholder’s Series B Preferred Stock in exchange for newly issued Series C Preferred Stock. The Issuer received no proceeds;
f. The Series C Preferred Stock are not publicly traded however, convert into common shares;
g. The preferred shares issued under this agreement contain the appropriate restrictive legend."
Just a thought...
GLTA
I would be more bullish on this stock if the company didn't have so many Preferred C Class shares ourstanding. With such a high common stock conversion for the C shares, it makes one think that the share price has one of the worst vertical climbs possible. Is R/S inevitable? I guess only time will tell.
Still in a hold pattern, though. As a poster cited earlier, you can't get hurt jumping out of a basement window.
GLTA
Just monotonous, isn't it? Hopefully this will change after the annoucement tomorrow.
Agree 100%.
An explanation of the apparent influx of shares would be nice as well. I remember reading in an earlier post that the company stated it was a shareholder of preferred class stock, however, specifics would be nice.
Interesting point. It is very possible that someone else is causing the dilution. I don't think anything would surprise me at this point.
I hope you're right, my friend.
Simply the risk of sub-pennies, I guess.
Clearly dilution is occurring here. I am keeping an open mind, but I am beginning to think it is the company doing this. It is far too coincidental that these massive share dumps happen right after they make some announcement on FB, Twitter, or wherever. It is a shame, because this was one of the few sub-pennies that I thought would actually go somewhere. But it is starting to seriously smell like a share dilution scam after all.
I hope I'm wrong.
GLTA
I wouldn't celebrate just yet. I don't know where the dilution is coming from, but clearly it is in full effect!
I work directly with the maritime industry, and have done so for nearly 10 years. The customer base that I deal with in maritime ranges from small operators (tugs), research vessels, military vessels & tankers/LNGs. My customer base is global, and while I cannot attest to whether or not Hollund is scamming shareholders, I can confirm that underwater logging is VERY REAL. If not, then explain how companies such as Triton (www.tritonlogging.com) are able to exist? It is one thing to accuse Hollund of scamming shareholders, but anyone who states that underwater log salvage/logging is fake clearly has not done the necessary DD.
GLTA
Good question.
I asked one of the online trading companies this same question on another stock. Their response was as follows:
"...only listed securities can be traded during the pre-market and after hours session, that does not include pink sheet or bulletin board securities.
The reason that the bid/ask will usually have a big spread during the after hours is because the market maker is trying to reduce the number of orders that people put in before the market opens."
Not sure if this is correct or not (or what it evens means), but that was the answer I received.
Hope this helps.
Agreed. If a signed deal is announced then I will begin celebrating, but not a moment before. Short of that, enjoy the land of .0001's and .0002's (.0003's if you're lucky). IMO
Means nada
If nothing results from the Brazilian survey, then this company has permanently flatlined. My guess is, if they do see a deal from Brazil, then NorthCal will probably be the ones to put up the funding for the Tigerlynk build.
Without this, stick a fork in Hollund. IMO.
I agree with investking. If there isn't anything substantive within the next couple of months AT THE MOST, then it is probably safe to assume that this development stage company is dead in the water. IMO
Well said, integracer02.
Well, here are my 2 cents on HIMR...
I think that between the planned share reductions, the holiday season that just passed, their move to CA and subsequent JV with North Cal, the prospect in Brazil that they are working on, and the fact that they are a development stage company consisting of a very small team, it is understandable why they haven't made any PR as of late. As a investor, I plan on giving them time.
Just my 2 cents. :)
I think you may have your figures mixed up. They retired 1.5B o/s back then. They were as high as 10B o/s at one point.
See this article for clarification.
PR Newswire Article - HIMR
Yeah, it does appear to be a fax number. I just e-mailed them to see if they have any other contact information.