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I wasn't calling it a scam before, but now.....?
An immediate explanation from the CEO is needed, although I'm not sure I'd believe anything Pagnano puts out anymore.
a PR or few? They removed ALL 2011 press releases and most 2010 press releases from their website. This is not just a few!
I agree with that possibility. They sure can't dump dilutive shares easily or easily use dilutive shares to pay for promotional activities while such a serious restriction from the DTCC is in place.
If those press releases contained false and/or misleading info, they also risk being suspended by the SEC, IMO.
Since they are late in providing pinksheet updates after promising them last fall and again in 2011, it will be interesting to see how they disclose the reasons for this latest serious development regarding press releases being removed.
They even removed the press release that claimed Heathrow did nothing wrong in the SEC vs.Gendarme illegal unregistered share selling case.
Without people reporting the company, after doing DD, Heathrow would be continuing what I believe to be their pump/dump type activities.
If their press releases are indeedd false and misleading, it is a positive thing if either regulator action or their own guilt made them remove the press releases.
Their past history shows a pattern of questionable stuff being put out. Their past seems to be catching up to them.
They even removed the press release that claimed Heathrow did nothing wrong in the SEC vs.Gendarme illegal unregistered share selling case.
Update on Heathrow PR fiasco:
Most 2010 press releases from Heathrow's website have now been removed, along with ALL 2011 press releases.
Looks like something very serious happened to Heathrow, IMO.
Will be interesting to see how Pagnano explains his way out of this serious development.
After reporting that I believed that the Press release from Jan 13th may be false and suggesting that regulators contact the 72 Drugmart stores in Ohio to see if Heathrow's product was being sold there (note: there are not 72 Drugmart Stores in Ohio), I think they may have actually listened to my suggestion.
Excerpt from the press release that caused my concern and attempt at DD to confirm that it was actually being sold there. Follow-up from others revealed that it was not being sold there and the mention that that company had its counsel ask Heathrow to not mention Drugmart in any press releases also made me question if the PR was indeed false.....
Note: the excerpt below is a press releae that has now been removed from Heathrow website and most other reputable financial news sites:
LAKE MARY, Fla. -- January 13, 2011
Heathrow Natural Food & Beverage, Inc. (OTCPK: HRNF) is pleased to announce
that its functional gum line of Acai Plus & Resveratrol Plus™ is now available
in all seventy two Drug Mart stores in Ohio.
Does it matter? It may take several days for IHUB to remove the press releases.
Moderator - please remove the 2011 press releases and excerpt below them from the I-box, after contacting the CEO to confirm that they should be removed. If the releases have been removed from Heathrow's website, they are no longer valid press releases.
Thanks, in advance.
redfisher - I believe the action to remove all Heathrow 2011 press releases may be a direct result of complaints to regulator tiplines and that Heathrow may have received notice to remove them. What other explanation could there be?
Heathrow has not disclosed anything to the public since Feb 2nd. Could they have received a Wells notice or notice of an investigation? If the PR's were false and misleading, that could be the reason they are removing everything from 2011.
Maybe the SEC investigation into the Gendarme illegal WEHI (now HRNF) and HRNF billions of illegal unregistered share sales is uncovering even more than we originally thought.
Companies typically don't remove press releases unless regulators are requiring them to remove them.
The SEC or FINRA may be investigating, IMO.
I hope Heathrow will disclose what agency is requiring them to have all the press releases removed.
OK, I didn't see APCX listed in DTCC important notices, either.
What is the deal with people saying their brokers are not letting them make trades?
HRNF removed most press releases from its own website. None of the fluff PR's from 2011 are there anymore. Ouch
http://www.heathrownfb.com/news.html
CBS marketwatch removed all HRNF press releases
This might have been what seven was going to ask the CEO about.
Authorized shares = 15 billion, per Heathrow's CEO.
Did the DTCC actually drop the cussip for APCX? Whe they do chill, it is usually to protect investors.
Is there a more serious issue?
Yahoo has removed all 2011 press releases for HRNF
I guess the tipline works?
chill getting worse - press releases dissapearing from financial websites, including pinksheets.
One site has remved all 2011 PR's, the other (pinksheets) has removed all HRNF press release.
DTCC may have rejected Heathrow's request to have the chill lifted and the cussip # re-instated.
There could be more problems with Heathrow that are being looked at.
Doesn't look good, especially since Heathrow has had no info released since Feb 2nd.
Reverse split being planned?
Probably will do it after the PPS goes to no bid soon.
If they spinoff Paychest Oregon and that has any value, PYCT's value would drop by that amount.
Pretty hard for PYCT's value to go much lower than it is right now, but that's what will happen.
We all know what happened to ALL of Mario Pino's spinoffs from this company....nada.
If they own less than 51% of SSLC, they can't put SSLC's revenue on APCX's books. If they own no part of SSLC, then they can claim only what SSLC decides to pay APCX, which may be nothing.
DTTC action may also be due to HPNN having more shares issued that they have authorized, per Nevada SOS and their pinksheets disclosure.
Yes, maybe the SEC is still investigating. Not sure why else the DTCC would drop HPNN cussip and place a serious chill on the stock. They usually do that to protect investors.
More dilution, then a reverse split.
That is the future for APCX.
William Ottens paid $50K for those 112,000 preferred shares, currently convertible to over 8.4 billion common shares.
Do the math to see how much he actually paid for each shares(common), on an as-converted basis.
Now he owns/controls more than the entire 7.5 billion share authorization.
Other shareholders now know they actually own an even smaller percentage of the company as they originally thought. I'm surprised this thing is even getting a bid after that info was revealed.
No, not unusual. It helps if you know how many shares his can convert to, though, to help evaluate just how much of the company you might own. It also helps to learn that those special shares did not reverse split with the rest of the shares last time they R/S.
on
November 16, 2009 the company authorized a 1 for 20 reverse common stock split. The
preferred stock outstanding at the time was unaffected by these splits.
Just think of what could happen if they do another R/S and don't R/S the special shares. How much of the company's share percentage would he own, on an as-converted basis after that?
Do the math....assume a 1:100 reverse split, at minimum. He still has the 8.4 billion share possibility? Others get their number of shares divided by 100? Great gig, if you can get it, huh?
These are all what-iffs, but you can go back to past financials to do DD and see what could happen if they have to R/S again.
Maybe the SEC will suspend or revoke HPNN.
Nevada SOS indicates HOP--ON has fewer shares authorized than the pinksheets info indicates they have issued and outstanding.
5301 - it is very practical
just because you don't think they will reverse split soon, does not mean they won't.
If they keep diluting, which they will, the share price could be at no bid soon.
The lower the share price goes, the more hugely-discounted shares they will need to dump for the same cash to stay afloat.
This is not unlike what happens with convertible debentures, or death spiral toxic financing, as some call it.
If they can't dump dilutive shares at any price, then they will need a reverse split to raise the share price high enough so they can get a bid and keep diluting. Unfortunately, the stock price often falls even faster after a reverse split.
Sell before they reverse split?
I would, given the company will likely need a reverse split once the share price gets stuck on no bid...they are already dumping shares fast and furious....massive dilution.
5301 - do your DD and read the pat finacials and notes to the financials.
15 billion shares is spot-on.
Read the financial notes, page 12 & 13.
(4) Mr. Ottens is the owner of record of 112,500 Preferred C Shares that are currently convertible into
8,437,651,998 shares of common stock.
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=37846
Since the CEO is the sole director and can vote all his shares....
When APCX does their next reverse split, I'm guessing the preferred shares will not be subject to a reverse split. That way, he can keep taking over more and more of the company for himself, leaving less for common shareholders......a lot less.
On January 29, 2008, the Company authorized a 5 for 4 common stock split and on
November 16, 2009 the company authorized a 1 for 20 reverse common stock split. The preferred stock outstanding at the time was unaffected by these splits. At the present
time, the Company does not anticipate that it will effectuate a future stock split, stock dividend, recapitalization, merger, acquisition, spin-off or reorganization, but reserves the
right to do so.
Actually the 15 billion share projection is completely on-base.
Already, they are getting close to 6 billion O/S.
With the over 8 billion that can be converted by Ottens alone, that would get the share count to close to 15 billion shares. I'm not saying he would or could convert anytime soon, but am suggesting how little of the company common shareholders actually may own.
Secondly....show me a link for anything that confirms APCX owns any equity or other stake in SSLC.
Unfounded to some. To me it is DD on things like special classes of shares and their conversion rates. That is much more than a shred of evidence, as it is based on APCX's own unaudited financials and notes to their financials.
hadesdog. I read the latest sticky and noticed Heathrow is claiming something that is just not allowed.
I think similar claims by other companies have resulted in the FTC alleging the co. violated federal law by making deceptive disease prevention and treatment claims.
“Any consumer who sees xxxxx (name deleted) products as a silver bullet against disease has been misled,” said David Vladeck, Director of the FTC’s Bureau of Consumer Protection. “When a company touts scientific research in its advertising, the research must squarely support the claims made.
Maqui? Ridiculous claims by Heathrow. Claiming it prevents cancer and prevents heart disease? Snake oil claims like these just don't seem to cut it for other products. The regulatory agencies like the FTC see to that. I guess, since they are not selling product yet, they can make such claims?
Pagnano claimed, not too long ago, that he was still working on a bar. He did admit he needed a lot of money. I'm guess he still does, and the chill has been somewhat restricting his access to dilutive financing or promotion.
I think the restriction is mostly because financeers are not likely to buy discounted shares when there is a DTCC chill and cussip # exit reinstated.
I don't blame Heathrow for providing some sort of warning about "consulting with your doctor" before using the gum. I know some who get in bad intestinal distress when using acai products. For others it might be fish or nuts or lactose.
I makes good legal sense to do a warning, IMO.
Do they include the same warning about consulting your doctor on each pack of gum?
Yes, big deficit.
And if Ottens was to resign tomorrow, he could almost-immediately claim the over 8 billions shares (after conversion) and I think they would then be free-trading (after resignation).
I think a similar thing happened with the other officer(s) resigning or getting fired. THEY GOT PAID....not sure if they sold them immedately or not, but I believe they became unrestricted after employment ended.
No, APCX has not disclosed that they are getting anything in return, or how much the funding is, or how many more "rounds" of funding there might be.
I don't blame you for not wanting to "waste" posts on me. I'm just expressing opinion and offer no warranty, express or implied. I have even admitted being wrong, on more than one occasion....LOL.
CEO has control of over 10.5 billion shares of APCX stock, if you consider his conversion rights and proxy.
As of October 26, 2010, 4,177,739,076 shares of Company common stock were
outstanding and 112,500 shares of Preferred C Shares were issued and outstanding that
presently convert into 8,437,500,000 shares of common stock.
Mr. Ottens is the owner of record of 112,500 Preferred C Shares that are currently convertible into
8,437,651,998 shares of common stock.
Mr. Ottens is the record holder of 5,000,000 shares and holds in irrevocable proxy expiring December 31, 2110
to vote 2,000,000,000 shares.
APCX doesn't own anything related to SSLC. If SSLC generates revenue, it doesn't mean APCX gets any of it.
He was around. Do some DD and you will see this. William Ottens claimed they had no choice but to reverse split.