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RobZ - are you still having trouble getting the broker to convert those HRNF previously-restricted shares to your account so you can sell them.
I've heard quite a few comments from those that were trying to convert and sell those shares, in past messages after restriction period ended.
smalfish - posters here did DD and could not find that either of those two so-called distributers were actually real companies.
If you can find that they actually exist, please let us know.
papa - mostly listed stocks. I have not bought many stinkie pinkies or OTCBB's. Some of the listed one happen to be considered penny stocks, because their price can be less than $5.00.
I post opinions for entertainment. HRNF is just one I find interesting to follow the antics of.
Projections? Kinda like their past revenue projections? LOL
Sorry, just had to bring that up. This looks remarkably similar to other projection hypes in the past. We all know how that turned-out. And then there's that dilution history/pattern concern.
It didn't "pick up" on the news, it just included the company press release in its Retail/press releases part of their site, like it does with any other PR submitted for posting.
Seven - in other words, you won't pay $0.0002 for the shares, but you will throw in order(s) for $0.0001?
Not exactly a vote of confidence, but thanks for announcing your plans.
Why aren't they paying their obligations? Why buyback shares when you owe so many judgment liens?
Why do they keep announcing buybacks and float reductions when they never followed-through on their plans (other than small buys) and actually are known for dumping billions of shares and for 3 reverse splits(1:110, 1:200,& 1:300) in a row, allowing massive dilution and destruction of shareholder value?
seven - is the product in stores as a real retail sales agreement did HRNF simply give it to them to try to get it on the shelves as a promotion?....big difference. Simple facts often are not included to promote the stock, IMO. The company has been doing this kind of fluff for years and years.
SevenTen - HRNF is incorporated in Delaware, a state that requires people to pay for company information like whether they filed with the state to raise the A/S to 15 billon shares.
Unless the company provides timely disclosure to pinksheets, there is not an easy way to confirm the info.....which is why many pinkies or grey sheet co's incorporate there, IMO.
You may want to look at what HRNF put out during their numerous previous buyback/float reduction plan PR's to see what they actually did.
primecomm - good thing redfisher posted the pinksheets red stop sign warning for HRNF.
You are claiming the CEO of HRNF confirmed to you what appears to be material non-public info that you re-posted here?
Just wanting to be clear on this....thanks
You have your opinion, and the huge float is probably full of bagholders that held similar opinions.
I value redfisher's research and opinions here. They provide a healthy balance to those posts that ignore the obvious history of the company's dilutive share issuance and the co's repeated reliance on the last statement they make in each fluff press release they put out.
red's opinion seems to be justified, IMO. He is aware of those that did DD on past PR's and came up with information contrary to what was claimed.
Pretty entertaining info can be found by those that actually spend some time researching.
No papadedavid - I'm not saying that. I'm simply mentioning what HRNF is most-known for among those that have followed his projections. What actually resulted was massive dilution and numerous reverse splits and total destruction of long-term shareholder value. Thus the skeptical comments about "lather-rinse-repeat".
I also pointed out the similar share/float reduction hype in 2009 as a recent example of HRNF saying one thing, then doing something completely different shortly afterward.
Plenty of shares available at $0.0002. Those that are familiar with Mikie's typical tactic of dumping shares during fluff PR's are probably not willing to believe there is any shareholder value here.
They may have read similar buyback hype in 2009, only to see massive dilution to follow. Instead of the promised reduction in float, the share count increased exponentially.
The recent news that they would issue restricted shares to managment and certain "insiders" could also make them worry about any reduction in O/S leaving a huge overhang of restricted share conversion potential. Also scary are those dilutive equity financing deals that HRNF hinted would be coming, too.
The float is huge, so there may be an almost unlimited number of shares available. The reality of the predictable few days of momo trading at $0.0002 will set in and the PPS will likely again move lower.
I'm guessing there will be more PR's that will be put out to slow the reality setting-in and allow more to dump at $0.0001 or so.
Remember what HRNF said in 2009?
Remember how they diluted billions and billions of shares after that buyback announcement?
Can you now see why many may avoid believing anything HRNF puts out? It is not what they say in their PR's, but what they don't tell you, IMO.
.....................
(1888PressRelease) April 17, 2009 - LAKE MARY, FL -- Heathrow Natural Food & Beverage, Inc. (PINKSHEETS: HRNF) is pleased to announce that it will begin the previously announced common stock re-purchase program effective Monday, April 20, 2009. HNFB plans to purchase up to 350 million shares over the next several months, reducing the outstanding float to approximately 75 million. Shares will be purchased on the open market consistent with the SEC guidelines set for stock re-purchase plans. HNFB may seek the assistance of a third party to affect the plan.
"We are pleased to contribute up to thirty percent of future revenues to re-purchase our common stock which we feel is very undervalued. With no debt and very obtainable revenue milestones, HNFB is very well positioned in the $100 Billion Dollar Wellness Industry," said Michael Pagnano, CEO Heathrow Natural Food & Beverage, Inc.
amanda - no, I prefer that you do DD on that. HRNF's admission can be found easily, if you are willing to take the time to look through past PR's and statements.
Good luck reading.
buyback hype- blast from the past
looks like bagholders are getting the rinse/repeat from Mikie and his stock reorganization plans once again.
By: rs4racing
15 May 2009, 01:32 PM EDT
Rating: Msg. 5008 of 5056
(Reply to 5006 by rs4racing)
Jump to msg. #
Share count already over 1.3 billion.
Longs got taken to the cleaners again. Looks like a reverse split will be needed within a month or so.
............
Posted by: lars siler Date: Friday, May 15, 2009 12:34:15 PM
In reply to: pnkbullsht who wrote msg# 22786 Post # of 22788
actual share count per my contact w/eric(transfer agent)as of today, is something over 1.3 BILLION with 100 million recently put in play--THIS IS ########! They just released on April 16th,that starting April 20th they would be buying back their so-called"UNDERVALUED" stock, and reducing their float,from their profits-this is outright fraud! They just suckered me out of investing $200 MORE.hOW CAN THEY SO BLATANTLY LIE?
Post from RB message board. Looks like predictions of massive dilution came true, amid hype by the company about so-called buybacks (all the while they were dumping shares by the billions and raising the share auth.)
...........
By: rs4racing
19 Oct 2009, 01:44 PM EDT
Rating: Msg. 5033 of 5056
Jump to msg. #
HRNF - forced to raise share authorization
They now havew 5 billion shares authorized, and their current outstanding share count is well above 2.6 billion shares.
Apparently, investors who believed Pagnano's buyback and no dilution needed press releases now see their shares worth even less, and are a muvch tinier shares of the bloated share pool.
They may need to raise the share auth to 10 billion,, then 15 billion soon.
The share price is already headed toward $0.0001, then will be NO BID as the dilution increases at a horrid pace.
Thanks for the correction. Scottrade previously did not allow trading in HRNF.
We have numerous reports here and even an HRNF admission that some brokers were not allowing HRNF selling.
Watch for matching trades at the same price, as this could signal MM's trading back and forth to make it look like there is some buying interest at $0.0002.
There must be a few brokers willing to let people buy shares in HRNF. I know that there were some that didn't allow trades of HRNF. Scottrade, I think, will now let you call in your order.
Why not wait 'till it goes back to no bid, $0.0001 ask?
jimstock - they conveniently didn't mention if they were buying those shares from the public. I'm guessing they are buying some of the shares they already gave out at a likely discount or are actually paying some of their bills they paid with shares/warrants.
I agree. Volume sometimes attracts more people to buy the promoter's shares. Sometimes at higher prices.
Just my opinion, but this looks like another rinse-repeat buyback hype effort to allow some to sell at $0.0001 or higher. Many are fully aware that this thing was sitting at no bid for quite a while, just like before the previous buyback announcements (and there were more than a few).
Just like with any third party or other pump/dump examples I've seen, a trader could profit unless he/he forgets the dump part and is stuck with shares at $0.0002 that will not sell.
While my opinions may seem a bit skeptical, it is only because I've read what Pagnano has repeatedly done in the past and compared it with what really happened. I was not impressed.
Again,good luck with trading.
Other buyback hype PR's from the Co have actually resulted in massive dilution during or shortly after the hype.
Another HRNF stock re-orginization plan? Ho hum - didn't they try a similar tactic before. How much trouble did those restricted shareholder have getting those shares converted and selling those shares last time? One only has to read posts of those that were involved once their restrictions to allow conversions back to common were lifted to see.
One part of the PR that makes me think it is happening again.....but just how much of a discount are they going to get for those shares, and how fast will the price go down as a result?
Upon the reduction of shares, rule 144 restricted shares will be issued to senior management and certain insiders.
Those with L2 - any sign of MM's selling identical inventory/blocks to each other at the same price to make it look like there is buying interest at $0.0002?
This could also artificially inflate the volume, IMO.
There are more judgment liens still active against the company. Can be found at Florida's sunbiz, under WGL ENTERTAINMENT HOLDINGS, INC.
Could those shares be being used to pay part/all of this judgment lien against the company? Could they be then buying the shares back from the party HRNF owes all that money to?
from sunbiz.org
Judgment Lien Detail
Processed Thru 01/05/2011
To determine if a writ of execution on a final judgment was docketed with a sheriff prior to October 1, 2001, view the filing image.
Filing Information
Document Number J10000854676
Status ACTIVE
Case Number 37-2008-00095106-CU-BC-CTL
Name of Court SUPER COURT CALI. SAN DIEGO CO
File Date 08/18/2010
Date of Entry 02/01/2010
Expiration Date 08/18/2015
Amount Due $219,743.79
Interest Rate 06.00 %
Name And Address of Judgment Creditor (Plaintiff)
GOLDEN GATE INVESTORS, INC.
1795 UNION STREET, THIRD FLOOR
SAN FRANSICO, CA 94123
Name And Address of Judgment Debtor(s) (Defendant(s))
HEATHROW NATURAL FLOOD & BEVERAGE, INC.
7025 CR 46A, SUITE 1071
LAKE MARY, FL 32746
Document Number: F08000004202
WGL ENTERTAINMENT HOLDINGS, INC.,
7025 CR 46A, SUITE 1071
LAKE MARY, FL 32746
Document Number: F08000004202
Events
There are no events for this filing.
Pennystockfever is one paid promoter that mentioned HRNF last week.
Their disclaimer includes the statement that one should assume they are compensated for any stocks they mention.
Correct papadedavid
and just like in the past, many of those that buy because of the paid promoter(s) that mentioned HRNF as a potential momo play last week, may end up stuk and have difficulty selling at $0.0001, let alone $0.0002.
The blog post I mentioned in my previous post should be required reading for the newbies.
Tricks some companies use to generate buying interest....We all know HRNF has used buyback hype MANY times in the past, only to dilute billions and billions more shares.
taken from scottrade blog...worth a read, IMO. Bold is my emphasis, for an example of buyback hype some co's use. http://community.scottrade.com/blogs/886/1963
....
.....Another trick involved persons use to generate interest in a pennystock is to place a few small buy orders at a price perhaps twice as high as the typical price of the pennystock, usually a bit after the open. This will create spikes in the stock chart to excite investors, if the volume of the pennystock amounts to something like twenty trades a day. It will also make the pennystock show up in stock screens and % Gainers lists. Announcements of share buybacks can be used as a PR gimmick that may not reflect anything in reality. If the Board of Directors has paid their lawyer in shares, for example, they can settle up with him by buying his shares back, then announce it in a PR. While a very few pennystocks pay a small cash dividend, it is more typical, when a pennystock gives out dividends, for the dividends to be in the form of additional shares of the pennystock. You would have to decide for yourself the value of these dividends, which is mixed. These dividend announcements have a PR value, while they don't cost the Board of Directors anything. Another sort of deceptive yet accurate PR is to announce a routine corporate transaction, like a contract or other agreement with a supplier or customer as a major event, where, because of the size of the pennystock's company, it would be difficult to guess its importance. Announcement of an application for listing the pennystock with AMEX or NASDAQ is another typical PR. It is fair to say that most of these applications have no hope. Patent approvals for pennystock companies involved in some area of research or development are another frequent PR announcement. Remember that a patent only assigns rights of a new design of product or new process to manufacture an existing product, and just about anything can be patented if it hasn't been patented before, regardless of whether it works or is profitable to manufacture and sell.
So HRNF might think their shares are undervalued (buyback hype)?....LOL
Then why would they be issuing massive numbers of shares at possibly 30%-50% discounts or warrants for cash?
Why would they now try buying back some of those shares at full market value instead of putting the money to work developing the company?
Why would they continue to allow interest to accrue on the judgment liens entered against them? I will be watching for the liens to be included in their next "unaudited" financials under "liabilities".
I will also watch for them to "write-down" their assets in the MDSO shootout production. These are allowed to be carried on the books as assets, although they are really costs incurred by the company. Eventually they have to be taken off the books.
They also announced future financing may be equity-type (probably 30%-50% discount again)?
To those that understand business, this may raise some major red flags. The company's past track record of diluting existing shareholders into the ground and projecting revenue they usually came nowhere close to earning cannot be ignored.
Good luck trading, but do your DD on the company and its CEO.
clevertrade - those claims by heathrow are not allowed for products that have not been tested to prevent or cure disease.
The FDA and other agencies (Federal Trade Commission - FDA) have specific rules for advertising such disease prevention/cure claims.
Here is an example of what the government agency does when companies make unsubstantiated claims.
........................
FTC Charges POM Wonderful with Deceptive Ad Claims
September 27, 2010
FTC issued an administrative complaint charging POM Wonderful with making false and unsubstantiated health claims for its pomegranate juice and dietary supplements. The complaint was issued Sept. 27, two weeks after the Los Angeles-based company filed a lawsuit in U.S. District Court, District of Columbia, alleging the agency’s requirements of FDA preapproval for “disease" and “health claims," regardless of the existence of substantiation and a requirement of two clinical trials to support structure/function claims, violates the First Amendment.
FTC’s complaint alleges POM Wonderful, sister corporation Roll International Corp., and principals Stewart Resnick, Lynda Resnick, and Matthew Tupper with making deceptive disease prevention and treatment claims in national publications and other advertising, on the Internet, and in product promotional literature. According to the complaint, advertising claims for POM Wonderful Pomegranate Juice and POMx supplements were promoted for their ability to "fight for cardiovascular, prostate and erectile health" and keep PSA levels normal; and that "clinical studies prove [the products] prevent, reduce the risk of, and treat" heart disease, prostate cancer and erectile dysfunction. However, the agency alleges the scientific studies conducted by POM Wonderful did not show the benefits, did not show benefits compared to placebo, or were carried out without "blinding."
"Any consumer who sees POM Wonderful 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. Contrary to POM Wonderful’s advertising, the available scientific information does not prove that POM Juice or POMx effectively treats or prevents these illnesses."
FTC’s proposed order in the complaint would require future claims not be misleading and comply with FDA regulations, in addition to requiring FDA pre-approval for POM Wonderful to make future claims that its products prevent or treat serious diseases. It reasoned the requirement would “provide clearer guidance for the company, facilitate POM Wonderful’s compliance with the proposed order, and make it easier to enforce."
The agency also announced POM Wonderful’s former head of scientific and regulatory affairs, Mark Dreher, agreed to a settlement barring him from making any disease treatment or prevention claims in POM Wonderful advertising unless the claims is not misleading and meets FDA requirements. The settlement contains a cooperation clause and reporting provisions as well.
Sources:
FTC: FTC Complaint Charges Deceptive Advertising by POM Wonderful
What do you mean "cleared"? Do you have a link for your claim?
This is just the start of the civil suit against the defendant that bought and sold the shares.
I agree that those companies involved may have been unwittingly involved and likely have done nothing wrong, but the upcoming discovery is a process that sometimes uncovers some interesting things.
HRNF is known for putting out projections of buybacks and revenue while dumping billions of shares on gullible investors or doing reverse splits so the stock can get a bid and then can drop to no bid once again.
I am often wary when a company PR's that they may do a buyback and then, in the same PR, discusses potential equity issuances for financing.
hadesdog - here is one of the judgment liens against HRNF, filed by Golden Gate Investors
http://www.sunbiz.org/pdf/10854676.pdf
Well over $200K, and increasing at 6% interest
I wonder if HRNF will list this and the others in their "liabilities" in their next unaudited financials. I'm pretty sure they would be aware of the judgment, and likely have been "served" with the notice and during collection attempts, IMO.
I see HRNF changed their corporate address, too
They can clearly indicate it all they want, but the buyer or financeer can get the restrictive legend changed by following 144 rules.
Will the SEC subpeona emails from the companies involved to see if they knew of or could have been complicit with the activity?
I guess time will tell, but that case will be worth following.
Rule 144 holding period is 6 months or 1 year, depending on whether the "investor" is an non-affiliate or affiliate of the investor. Certain other restrictions apply, depending on whether the company is a reporting company or not and whether they file timely reports.