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I don't mind the opposing viewpoints about HRNF, but hope to provide my opinion when posters repeat something I do not believe is accurate.
I also don't agree with the naked short conspiracists posting here, and see they are also posting on the poster child for what I believe are bogus naked short allegations (Overstock) made for years.
redfisher - the DTCC indicated it was "As a result of a complaint filed by the U.S. Securities and Exchange Commission ("SEC"), the Depository Trust Company (DTC) has suspended settlement services, except custody services, for the following securities....."
I was not an actual SEC trading suspension, which would appear on the SEC's website and on the otcbb dot com "Daily List"
Toay's SEC release shows that the FBI and the SEC sometimes do take action against CEO's and promoters. That one implicates a CEO and a promoter in a kickback scheme. It (Along with the Jan 6th Gendarme complaint involving HRNF shares) can be found at:
http://www.sec.gov/litigation/litreleases.shtml
The Jan 6th SEC action against Gendarme, where they allege improper sale of WEHI (now HRNF) and HRNF shares by Gendarme, could be the first shot over the bow. If Gendarme negotiates a settlement and cooperates, maybe there will be a paper trail provided to see if any of the companies mentioned were complicit - or just duped in their qwest to unload dilutive shares for cash.
lawyer - do a little DD on what HRNF has done in the past. Read where posters here have been questioning the hype, claims, and projections the company has been spewing for years.
Read their buyback announcements from previous years and then research to see that they actually dumped tons of shares at discounts for cash.
I'm sorry, but I have trouble believing anything the company is telling investors, IMO.
red - HRNF will need to retract/modify last thursday's press release about restrictions being lifted, or risk being halted for having the WRONG (material) info out there.
If Pagnano KNEW that DTCC were imposing restrictions and put out the Thursday press release anyway, that could even be worse.
NoT many can trade HRNF now
Some brokers can trade from their own inventory or match trades order-order, but those using DTCC have restrictions.
READ THIS PART OF THE EMAIL FROM SCOTTRADE TO ONE OF THEIR CUSTOMERS
(HRNF) is unable to be bought or sold at Scottrade due to a Global Lock from the Depository Trust & Clearing Corporation (DTC). This is an industry-wide lock ... not Scottrade-specific. For information on when or if this restriction will be removed, we suggest calling the Investor Relations Department for (HRNF).
Channel -no HRNF buys or sells allowed....
per poster who reported what Scottrade sent them....
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
smallfish7 Share Tuesday, January 25, 2011 10:34:14 AM
Re: PRmaniac post# 31700 Post # of 31711
--- Support Message ---
Reply Date: 1/24/2011 2:57:18 PM
Subject: Re: Trading <<#523147-2084012#>>
Dear Gary:
This is in response to your question about Heathrow Natural Food & Beverage (stock symbol (HRNF) in your Scottrade account.
(HRNF) is unable to be bought or sold at Scottrade due to a Global Lock from the Depository Trust & Clearing Corporation (DTC). This is an industry-wide lock ... not Scottrade-specific. For information on when or if this restriction will be removed, we suggest calling the Investor Relations Department for (HRNF).
If you need further clarification, please call your local Scottrade branch. The staff there will be happy to help you. You can find the number for your local office through our home page in the Branch Locator.
Sincerely,
Jeff N.
National Service Center | Scottrade, Inc.
Scottrade, per reports from messages yesterday on this message board.
redfisher - I doubt any action is coming, IMO.
The SEC does not have enough staff or budget to go after penny stock companies. They make examples of some and their promoters, but the companies continue to put out info and rely on their disclaimers when that info is proven wrong.
LEX - the SEC complaint involving HRNF shares indicated the Gendarme action sold most/all of those shares almost immediately. Who knows how many times they have changed hands since then?
Can't clawback those shares anymore. I'm not sure that they can force HRNF to give back the $825K or so they received in consideration for those shares, unless they find culpibility and take separate action against those that made the deal for the warrants/share conversion.
Maybe Gendarme will cooperate with the SEC as the investigation continues during the SEC's civil action against them.
Vianna - agreed
No evidence that HRNF was named or accused of doing anything wrong. Still HRNF (the issuer) and/or the TA accepted the conversion of warrants for around $825,000 in consideration.
I'm pretty sure the SEC is still investigating Gendarme and the relationships with the issuer (HRNF), but there is no evidence I've seen that HRNF got kickbacks or did anything wrong. The SEC civil suit was just announced Jan 6th.
for some co's where the DTCC has placed a chill or restrictions, retail trading from some brokerages may then become restricted.
for example, HRNF was dropped, and today we are seeing reports that Scottrade and Etrade may have placed restrictions, not allowing buys or sells.
I think some brokerages do self-clearing of trades, so one may still be able to trade if you have accounts with them.
Yes, the drugmart email.
I understand, but the email address to their customer service was in that email. Sounded pretty bad to me, especially since Drugmart included the comment about not wanting their name in future press releases.
I you find anything new from Drugmart, let us know. Thanks again.
SevenTen - that post is the link to the DTCC notice about HRNF being dropped. It can easily be verified and should be a sticky, since it the exact reverse of what HRNF put out last Thursday.
Funny timing -One day after HRNF announces that there are no restrictions, restrictions are back in full force. You would think that the TA and HRNF would have received the notice. Looks like that Press release may require a correction from the company.
dawsorama - of course some can buy. Some could buy while the DTCC dropped HRNF previously, too.
A similar thing happened to HPNN.PK, and some are able to trade that one, too.
Message #31622 deserves a sticky, or even a mention in the I-box.
One day after HRNF's Jan 20th PR - now dropped as of Jan 21. oh my!
The chill is back on, in full force.
Definition of DTCC chill and explanation. I think HRNF was subject to this,based on what they have put out in Pr's. They recently PR'd that the chill was lifted.
................
What Does Chill Mean?
Special restrictions that can be placed on a given security by the Depository Trust Company (DTC). Chill restrictions are intended to limit the potential for problems within the financial marketplace, and can be placed on a security for various reasons.
Investopedia explains Chill
Owned by many financial companies including the New York Stock Exchange (NYSE), the DTC acts as a clearinghouse for stock exchange securities, settling trades in corporate and municipal securities. If the DTC has cause to be concerned about a specific security currently processed through its system, it may place a "chill" status on the security. This will restrict brokerages' ability to transfer the shares or units of the security through DTC until the security's issues are cleared up or it ceases trading on the market.
until this morning....so I agree.
I think the previous DTCC chill was lifted, as the company featured in a press release.
Could be as simple as a rejected deposit/submission. There are quite a few certs (Probably from various sources) hitting and if it is another chill by the DTCC, it probably can be corrected soon.
So much for HRNF's 1/20/2010 press release.
Does the DTCC list status of co's they drop?
Any update on email from Drugmart - pretty serious if HRNF PR'd that Drugmart is a retail partner in 72 store, but not really a true PR, IMO.
.....................
here is the post with the email reponse from Drugmart.
redfisher Share Saturday, January 22, 2011 5:09:36 PM
Re: hadesdog post# 31296 Post # of 31572
so... what do you think about the email I got from Drugmart...
From: Customer Service <custserv@discount-drugmart.com>
Date: Jan 19, 2011
Subject: RE: Your Comments
To: xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
I'm sorry, you were mis-informed. Some of our store locations did a test but we do not sell the gum and we do not have mail order. We have contacted our brokerage representative and requested them to ask the Heathrow company to stop including us in their press releases.
Thank you,
They often start diluting before or right when they report their share structure to pinksheets. They need to update pinksheets so fewer lawyer opinion letters need to be filed for the dumping.
Aren't short conspiracies one of the things promoters blame for just about everything? They seem to be wrong pretty much every time.
As of the last publication, there was just one share short. I believe the next report is published on or around the 29th.
viana - accumulation chart often does lie with pinkies. MM's sometimes sell equal share blocks back and forth at the same ask price to make it look like there is buying interest. No risk and the manipulation is reported to be just part of the game with pennies, IMO.
PR's a real? OK What about the Jan 13th PR about 72 Drugmart stores. If HRNF is not selling product there, one more retail possibility bites the dust.
And if they really are asking that HRNF not use the Drugmart name in any press release, you can bet the product will never be in those stores.
I see redfisher's email from Drugmart about HRNF is already being pick-up on other message boards.
I tend to believe what he finds out, plus he was part of the moderator team for a long time (thanks).
Seven - the email address for customer service is in post #31298
Feel free to email them yourself, or ask Mikie Pagnano to respond to this significant development concerning all shareholders.
Moderators - please sticky note post #31298 with Drugmart email stating they are not selling HRNF product.
I already suggested adding a sticky for the message about the Jan. 6th SEC complaint against the guy (from Gendarme Capital) selling billions of WEHI (now HRNF) and HRNF unregistered shares.
Yep, dilutive financing may already be underway, IMO.
Maybe Pags should read the rules on Rule 144 share restriction periods to see that, even if they claim a 2 year restriction legend, it likey will be much less than that.
Who would agree to 2 years, especially with the history of massive dilution and reverse splits in 2007, 2008, and 2009.
Lethal - aren't you thankful redfisher did some DD and actually got an email back from Drugmart, stating they were not selling HRNF product?
That sure puts a chill on HRNF's Jan 13th press release, doesn't it?
Yes, mike could be dumping shares fast and furious, hoping that promoters and HRNF's PR's would attract buyers or equity financing at these high prices.
In the past, we saw massive dilution during and/or shortly after the flurry of fluff PR's.
We all know that HRNF was at no bid not that long ago.
Isn't it great that HRNF isn't one of those large corporations with all their red tape?
Seven - HRNF is publicly-traded. As such, it is required to follow the rules of public companies.
Wouldn't reports that Drugmart is not selling HRNF product (and that is was only a test market in some stores) be material and require that HRNF correct the PR stating they have it in all 72 stores?
SevenTenEleven - with all these PR's that you seem to be relying on for your claimed buying at $0.0002 statements, doesn't the recent email from Drugmart concern you a bit?
If HRNF does not have purchase orders in place for retail selling of their product in all 72 Drugmart stores, should they have put out a press release implying they are selling at all 72 stores?
Drugmart's email seems to indicate that that chain is not selling HRNF product. It will be interesting to see how Pags wiggles-out of this one.
Seven ten - DD like redfisher and hadesdog have been doing are part of the reason many have questioned the PR's this company has put out in the past. Both posters were long-time mods or asst mods.
Now we have a Jan 13th PR that appears questionable to me. Sure makes me question the buyback-from-available-revenue PR's, too. This may be especially concerning to those that have done DD on the numerous previous buyback/float reduction announcements from the company, too.
seven - Drugmart does not sell HRNF product - see mssg #31298
HRNF apparently only sent them "test market" product. Doesn't it appear to be abit misleading for HRNF to imply they are selling it in all 72 stores, when they are not?
redfisher - save that email from drugmart that said they would ask that Pagnno NOT include Drugmart in press releases, and that it was only a test market in SOME stores.
Since Seven communicates with the TA and likely Pagnano, he should ask HRNF to issue a retraction of the press release, IMO.
Will HRNF retract drugmart press release now?
Sure hope so, especially with all the SEC scrutiny on that guy that had the SEC complaint filed for selling unregistered WEHI and HRNF shares. (see pg. 6 & 7 of complaint)
http://www.sec.gov/litigation/complaints/2011/comp21798.pdf
So now drugmart not selling HRNF product 72 stores)? Confirmed by Drugmart? Wow!
And now Drugmart is gonna ask Pagnano to cease and desist using Drugmart's name in any press releases?
Pagnano's press release sure didn't take long to get a reaction from Drugmart.
I recently predicted that some of their so-called announcements could have just been tests where HRNF may have sent product for free. This might actually be what happened.