All Posts IMO. Do your own research
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Yep. If the RS happens and this gets to the SEC there's a good chance they will not look upon HRDNs history and current moves favorably.
So in addition to dealing with the pressure from the note holders, the displeasure/wrath from shareholders it appears Bob will be in the unenviable position of dealing with an undesired side of the SEC. It's also highly probable they will look into those note holder deals as well.
Stop the RS and grow the business.
IMO
Perhaps. If he doesn't stop the RS, FINRA apparently has been notified and they may stop it. If they don't, it seems probable the SEC may get involved.
IMO
If, and it's a big if, Bob is running the business he needs to tell the note holders to sit tight or FO.
Grow the business and the PPS will rise as investors are attracted. (Assuming the business gets real contracts of course.)
Bob should not release more shares at .0001 since no one is buying and it's a waste. Let it run a bit based upon tangible info. Gees. The timing is way off man
I will say it again, and a little louder this time if Bob didn't hear it the first times:
1. STOP RS
2. GROW BUSINESS
3. RENEGOTIATE NOTE HOLDER AND PRIOR OFFICER BS DEALS ELSE CH 11 WILL BE THEIR FATE
IMO
What's the rush to file for bankruptcy?
Stop the RS. Grow the business.
If the note holders ask for payment then negotiate based upon the bankruptcy option he has in his back pocket. So what if they don't like it? What are the note holders gonna do? What leverage do they really have?
A key question is "Does Bob have what it takes to negotiate with these guys?" At this point it appears not.
If he files bankruptcy they will get zilch.
IMO
I've been involved with LEDs for over 25 years and like what I see with RVLT.
If he's gonna file bankruptcy SEC suspension beforehand may benefit shareholders cause.
I hope he doesn't do RS or file for bankruptcy.
IMO
If he files for bankruptcy you will get nothing since common shareholders are at the bottom of the list.
He should stop the RS and do his job and grow the business.
IMO
This firm appears to be on the right track. Hopefully the PPS will continue upward. IMO
BTW I left off the path of renegotiating with note holders and on the other liabilities to bring the debt down because I'm not sure if that's a realistic option. IMO
The current liabilities are tremendous with little or no assets and the share selling and RS appears to be a plan of the business with the intent that it will be in Perpetuity to pay the note holders, etc.
Bob's potential paths forward are many based upon current and possible future events including:
1. Win more contracts and try to create a real business, generate bookings, revenues and net income as outlined and implied in the PRs
2. Keep AS high or keep increasing and do RS in perpetuity. This in spite of saying he would not
3. File for bankruptcy
4. Resign
5. Sell shell to investors; however current liabilities with little or no assets won't attract anyone
6. Get another CEO who will run the business
Sadly and based upon prior events and precedence, it appears he will be choosing 2 or 3 from above.
If the RS is not removed tomorrow or Bob does not put out a PR, I think it may go down the path of an SEC suspension.
IMO
Bob is hopefully out trying to win some contracts or we know what his next two moves are gonna be.
Any word on any new contracts or is he busy filing paperwork?
IMO
What has Mr Pearce done for HRDN where he deserves that compensation?
Most RSs end up totally diluted and the stock will drop back to .0001 and it appears he likes to repeat the process over and over. Your equity will be almost nothing. I have seen on rare occasions the PPS stabilize and go up a little in some RS. However, those firms have a real CEO, real business, real revenues, net income and assets with little or no debt. Totally different situation here.
IMO
Agreed. The timing has always been way off and did not make good business sense, at least on the surface. IMO
If he's smart and on the "up & up" he will cancel the RS. Even if he does cancel the RS it doesn't mean he is free and clear. If he doesn't cancel the RS then we have our answer and should proceed accordingly.
BTW I'm not convinced he's going to cancel; however, if he feels he's running a real business he will get up out of bed early everyday and go get contracts and fulfill them. If he goes forward with this RS the message will be very clear as to what he's all about and doing and he will pay the appropriate consequences.
IMO
Agreed. One step at a time. Let's see if Bob stops RS. IMO
If Bob doesn't stop the RS it would appear he's not running a real business. Let's see what happens. IMO
Its still at .0001. I think Bob needs to retract the RS and get back to running a real business and trying to win more contracts. IMO
Thanks for the update. When is FINRA going to respond?
What's going on with Bob and HRDN?
If I call I'd have to charge him a consulting fee or get some notes
Guys and gals. Assuming Bob goes forward with his filing, flawed with a material error that doesn't support the need for a RS, this still has to go through the process and be approved.
If he needs help in sales or BD let me know.
IMO
If Bob doesn't stop the RS and consider the other paths offered including securing more contracts, which are pretty straightforward and on the "up & up" he will suffer whatever fate is in store for him.
He should also drop the AS with the split if he feels the price will stay up at or above 0.01. He needs to put his money where his mouth is. Since he is not dropping the AS one can deduce he doesn't really believe in it.
It appears he really doesn't know how to handle things without doing an RS. ANYONE can do an RS. Simply amazing.
It's all on him. If he does the RS, FINRA and the SEC will decide HRDNs and Bobs fate.
IMO
He's gotta spend more time selling and trying to secure contracts versus filing SEC paperwork and doing RS.
Here's what he should do:
1. Stop RS
2. Get more contracts. Yep, boots on ground, go door to door, whatever it takes to get more contracts
3. Do share buy back
Does he need sales or BD help?
IMO
You're welcome Greedy. Been traveling all day and just catching up. What's going on?
Hey I'm still here too
If Bob does the right thing and stops the RS and grows the business organically and does a share buyback things could work out. IMO
Greedy, if he's reading this board hopefully he considers some, if not all of the thoughts offered here. Maybe he needs to add a salesperson or two to his staff and at least a person or two to an advisory board to help him out. IMO
Looks like something is going on.
Ya, that's great. Let's hope it's for better and not worse. Been here a while and still waiting for the fireworks
Do you feel there will be a RS?
Hopefully Bob removes the filing for the RS and gets back to business. If he gets more contracts signed he can use the net income from those real business transactions to support payment to preferred shareholders and note holders, as appropriate. He still has some headroom in the AS and can use IF AND ONLY IF NEEDED.
The RS shareholder dilution and devaluation machine needs to stop.
IMO
I agree it will most likely be halted if it gets there; however, It will be these recent events as the catalyst and the prior history will support the pattern of repetitive RSs and callous treatment of the common shareholder. IMO
His rationale for claiming he has to do a RS is not supported by his evidence. He's also a subject matter expert given that he is the CFO and this can't simply be blamed on a clerk. If someone alerts FINRA and they see this it will escalate to the SEC and all of the prior RS I believe will then be looked into.
If Bob is smart, and I believe he is, he will not go forward with the RS. IMO
I find it hard to believe that Making false statements to shareholders and SEC
If he doesn't he is in deep dodo
Bob, the CEO, CFO, accountant, etc had filed a doc with the SEC providing rationale for a RS and it's not substantiated by his own admittance. Amazing. If Bob is smart he will not move forward with the RS because I believe FINRA and the SEC will pick up on this major error. IMO
And how much does he say he needs to issue to cover the preferred shares and note holders?
I believe Bob may retract the RS based upon what appears to be an error in his pre 14c filing with the SEC. Again, if I am interpreting the document correctly. IMO