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Nope jim, market cap is already much too high. Will likely see 95% to 98% decline after investors do some DD on the HOP-ON CEO and his historic failures.
Maybe a clue can be obtained by asking the CEO who actually runs the e-cig company. Would any real company do biz with a CEO convicted of felony stock fraud? Stay tuned.
I'm guessing they will need many more PR's to slow the price decline, so even more dilutive shares can be dumped. HOP-ON has no other source of any money to stay afloat and pay for fluff press releases.
Could see $0.0003 soon.
Still no sales or revenue, and HOP-ON has no money for websites or marketing anything....per their financials.
HOP-ON's convicted felon CEO
Still reporting to the P.O. regularly? Still have to get permission from him to travel?
So how did those revocation hearings go, Peter? LOL
Dilution drives HPNN to $0.0003 or lower soon.
Longs won't even be able to see the outstanding share count, unless they can actually find a transfer agent.....lol
Since HOP-ON reported NO cash in the bank at all, you can guess they will dilute until investors see what a complete failure hop-on has become...in pretty much everything they try to peddle. No sales at all.
Plus, HPNN is flat broke - no cash, no sales reported, and no money for websites or advertising.
The financials tell the story.
I think I know why they doubled the share authorization. Dilution, what HOP-ON is best known for, second to having a stock fraud felony conviction for the CEO of HOP-ON.
Pagnano is owed more than the market cap of the company....alot more.
Just look at the notes to their financials. I see he seems to rather have the debt owed to him, rather than shares? He was getting paid back a bit.
He will probably reverse split again, so the market cap can drop fast with the share price after a reverse split. But he will still be owed the money....LOL I wouldn't take the shares as compensation, either.
nors - float is NOT low. HOP-ON has NO cash in the bank at all, no sales or money coming in, per their financials. Where do they get the cash to pay their bills and their fluff press releases?
They just doubled the share authorization, which means more dilution to keep the little operation running, IMO.
Just look at the float, as compared to outstanding shares. It is very high. Market cap is much too high already with assets dwindling and no money apparent to run operations or pay Peter's salary.
Outstanding Shares
794,049,000 as of Jan 6, 2010
Authorized Shares
1,490,000,000 as of Jan 6, 2010
Float(shares)
700,000,000 as of Jan 6, 2010
nors - huge float for HOP-ON bad news
maybe you should do a bit of research, first.
Also, take a look at the (convertible) preferred shares and how many are out....ouch. Are the common even worth anything, with hop-on's terrible financial condition?
Note - they just doubled the auth. shares to 1.49 billion.
...........
Outstanding Shares
794,049,000 as of Jan 6, 2010
Authorized Shares
1,490,000,000 as of Jan 6, 2010
Float(shares)
700,000,000 as of Jan 6, 2010
Number of Shareholders of Record
10,000 as of Jan 6, 2010
Investors finally look at financials for HOP-ON?
No sales at all, no cash in the bank, and then they just doubled the share authorization, signaling massive dilution could be going on right now and in the future.
So HOP-ON is really about flat broke? No caSH AT ALL, PER THEIR FINACIALS?
No wonder they just doubled the share authorization, so PM can dilute as fast as he can before investors figure it out.
hadesdog - usually alleged violators only see action by regulators in civil court. They often end up settling, agreeing to not violate again and paying a fine or disgourgement.
I wonder if their accounting firm knows that HRNF appears to have not included the liabilities from all their judgment liens against them and the court case they lost? I see no evidence that HRNF disclosed this in their financials, which Pagnano SIGNED in each financial report.
I agree that shareholders and others should be making complaints if they do DD and believe things are not right.
HRNF big problems evident:
From Yahoo message board post
HRNF big problems seen in Press releases
8-Jan-10 09:46 am
here are a few things to consider.
1. HRNF's press release about Glu Pro claims to have an "exclusive distributorship" w/Glu Pro.
Problem: A shareholder contacted GluPro. Sam Pratt indicated they have NO exclusive distributorships with anyone.
2.
hrnf's Dec 7 PR.
Problem: No one can seem to find evidence that those two companies actually exist. If you can, please list the address and telephone number, plus a website, if possible.
3. HRNF's financials. HRNF doesn't seem to list all the judgment liens entered against them and the court judgment they lost. HRNF is well aware they owe these moneys, so this should be listed as a liability.
4. HRNF admits people cannot buy HRNF shares through at least two major US brokerages. These are not the only ones that won't let customers buy HRNF shares. Rating :
(1 Rating)Rate it:
jlatham901
PIZZA - not dumb? Well, I beg to differ. He appears to be putting out stuff that, when DD is done by others, does not pass the smell test.
Continued flouting of this kind of behavior can easily result in action from regulators, if they decide to make an example to deter other co's from doing the same.
Your support of a company exhibiting such questionable PR's, while we all know the stock is under distribution (massive dilution), makes one wonder how you can sleep.
Claiming exclusive distributorship, when GluPro indicates they have no such agreement with anyone, is just asking for regulators to step in, IMO.
I've seen suspesions from trading for less than this.
Please update I-box with new share structure. New info is on pinksheets under the "company Information" tab when viewing the quote for HRNF... link to pinksheets is in the I-box.
Dilution often increases following updates and PR blitzes from the company, IMO.
Pizza - was this an incorrect PR by Mike?
If so, maybe you should email mikie and demand a retraction be put out.
More evidence that HRNF is not an "exclusive distributor". Apparently GLU PRO DOES NOT HAVE EXCLUSIVE AGREEMENTS WITH anyone, based on what I read on the Yahoo message board.
.......
from Yahoo message board:
chaos-infer...
Male
11-Jan-10 09:53 am
I went to glu-pro's web site and I emailed them. I asked if they had HRNF as their exclusive distributor or if they even have a contract with them. This is what i got:
Hi Alden, There is some confusion here. There is no agreement for "exclusive distribution" with anyone at this time. Sam Pratt, RPh, FIACP Sec/Tres and 25% owner/patent holder
Terry, Please forward this e-mail to Dr Habib. Thanks Sam
On Jan 9, 2010, at 11:22 AM, chaos-inferno@_____.____ wrote:
Alert: HOP-ON doubles share authorization
Common shares authorization raised so they could dilute, dilute, dilute even more shares on unsuspecting investors.
............
Outstanding Shares
794,049,000 as of Jan 6, 2010
Authorized Shares
1,490,000,000 as of Jan 6, 2010
Note also that class A preferred is at its limit, and Class B preferred is growing....ouch.
float is 2.6 billion shares. Latest info from mike is now on pinksheets dot com. Look at company info tab, when viewing the quote for HRNF.
Outstanding share count has increased. Looks like dilution will continue unabated.
Here is latest share structure info. Check w/ the TA to make sure HRNF hasn't already been dumping hundreds of million more stock.
Outstanding Shares
2,718,000,000 as of Jan 5, 2010
Authorized Shares
5,000,000,000 as of Oct 9, 2009
Float(shares)
2,600,000,000 as of Jan 5, 2010
Seeing big problem with HRNF's unaudited financials, IMO
Nowhere does it list the liabilities associated with all the jdgment liens against the company. Maybe Pagnano thinks that he can hide from obligations and file unaudited financials without those known liabilities because he simply changed the company name.
Since he knows HRNF is liable for the judgments and court judgment HRNF lost, I am wondering if there are any penalties possible for filing such financial statement?
It would be interesting to see why HRNF seems to think they don't have to list such company liabilities in their financials....they are supposed to be prepared according to generally accepted accounting rules, and Pagnano certified them as such.
HRNF's "third party is actually its CEO. LOL
Pagnano now is owed close to 3.69 billion shares-worth of HRNF at $0.0002. This does not include deferred salary or bonuses. While he actually is not owed the actual shares, it is illustrative to see just how many shares that really would equal. It is also interesting that he seems to rather keep this as a debt owed to him, rather than own the overvalued HRNF shares. He probably already knows a reverse split will be needed in 2010, for the 4th year in a row. Anyone think the new ticker will be HNFB?
This info can be found in the latest financials, and in the notes to those unaudited finacials.
.............
Advance From Third Party
$737,000
Excerpt from notes:
NOTE B – Advances from Related Parties
This reflects monies owed the CEO from direct cash loans and does not include deferred salary or bonuses.
Rob - a lawyer won't help HRNF get brokerages to accept certificates or allow buys of HRNF
I found this. Looks like brokers avoid stocks like HRNF like a plague.
This is the reply from Scottrade regarding CXAC:
Reply Date: 8/31/2009 9:20:09 PM
Subject: Re: Other <<#232342-959671#>>
Dear Client:
Thank you for your e-mail.
CXAC is not available for purchase through Scottrade; however, if you own the stock, you may sell it through your account. CXAC is an illiquid stock that incurs additional NSCC (National Securities Clearing Corp) clearing requirements.
NSCC requires participants to put up capital for security positions based upon the price of those securities. As an example, Scottrade holds a position of 38,000,000 shares of a stock that trades at .002. We are required to put up over $1,000,000 even though the market value of that position is only $76,000.
Please let us know if we may be of further assistance.
Sincerely,
Andrew Carlie
National Service Center
Scottrade Inc.
Rob - thanks. looks like mikies buddies (and bagholders) have been trying to make HRNF smell like a rose. That isn't exactly the smell I'm reminded of.
Any luck finding anyone else to accept the certificates? Maybe mike will ask you to send your certificates to him. I'd be a little cautious, given his track record of not pay obligations and all the judgment liens against the company.
HRNF - updated share structure posted on pinksheets
They been diluting even more shares.
You can see this by going to Company Info tab when viewing the HRNF quote on pinksheets dot com
..........
Outstanding Shares
2,718,000,000 as of Jan 5, 2010
Authorized Shares
5,000,000,000 as of Oct 9, 2009
Float(shares)
2,600,000,000 as of Jan 5, 2010
Re: from Yahoo: Scotrade - won't allow buying of HRNF shares 13-Dec-09 08:31 pm I spoke directly to a Scottrade representative who stated they would not take the certificates. He told me that I would have a problem with most agencies. I also have an account with Ameritrade. They returned my certificate along with a letter stating that they would not accept it into my account. I haven't tried any others. Mike P. told me in an email that a place called OC Securities would take it. I sent an email to OC to find out the minimum to open an account. It is $10k. I didn't ask if they would take the certificate as I was not going to open an $10k account. Mike P. told me in a later email that he is working on getting Scottrade and Ameritrade to accept the certificates, whatever that means.
hrnf - ADMITS BROKERS WON'T ALLOW BUYS OF HRNF SHARES - OH NOOOOOO!
...............
Also, HNFB has engaged counsel who is representing 75 plus pink sheet firms to reverse decisions by Scottrade and E-Trade which currently do not allow buy orders for HRNF and several other sub-penny stocks.
Remember HRNF's last buyback hype? LOL
Almost 2 billion dilutive shares dumped by the company since then.
HRNF needs money ,and PR's help them dump billions of discounted shares for cash...leaving bagholders holding the ALMOST-WORTHLESS SHARES.
HRNF basically bogus projections, IMO
Only a few new bagholders will be dumb enough to buy HRNF before the next reverse split.
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hadesdog does make sense.
I think the fact that people cannot find real co's mentioned in the Dec 7th PR and the latest info reported that GluPro DOES NOT have exclusive distribution with ANYBODY, raises enough questions for shareholders to be concerned.
We all know the shares are under distribution (massive dilution), so questionable PR's may be directly benefiting the company, IMO.
HRNF should know better, but I believe the desire to keep dumping dilutive shares is too powerful.
Didn't they think shareholders and others would do DD and try to confirm what is spewed in HRNF's PR's? Given this company's previous track record with projections and other things like "dilution not neeeded" pumping, I'm surprised more shareholders aren't a bit upset.
If false info is being put out, I sure hope regulators
actually look into it, IMO
hadesdog - HRNF's PR's - another development?
I found this posted on YAHOO'S message board. Seems yet another person, doing some DD, uncovered yet another PR that seems to raise more questions about its content. We all now know that several people can't seem to verify that HRNF's Dec 7th press release named two so-called "premier" distributors that actually exist. I sure can't find real co's by those names.
Anyone (including HRNF itself) with any real proof that they exist should help others verify it, too.
Well, yet another PR and one poster decides to contact the company.....
see below:
Reward 1-Jan-10 07:25 pm I will give a big atta boy to anyone who can validate Mikes last PR.
I used the provided link, and e-mailed Glu-Pro. I sent them the PR and asked them 1 question, "Is this PR true?"
The response I got back from their rep, Sam Pratt was, "news to me."
I’m still upset by the fact that the 2 “distributors” Mike claimed to have signed contracts with do not exist.
It is one thing to invest in a company that despite their best efforts, goes under.
It is something else to invest, based on PR's that are nothing but lies.
Somebody aught to put an end to this!
Just My Humble Opinion --- Do your own dd, and let me know what you find.
wistock - chronic use may cause.... and laboratory experiments have triggered......
This is not playing the fear card at all. I just don't think I would want to be a test rat to see what effects using that chemical and vaporizing it to help deliver the nicotine. If it helps deliver dangerous nicotine; it likely also delivers the propylene glycol/byproducts immediately and directly into the blood stream.
I expect the FDA, even though it acts slowly, will step in even more than it is starting to do.
PIZZA - HRNF not oversold at all
Plus, technicals do NOT apply to a company where almost all shares sold are dilutive shares issued by the company.
Technicals can be sometimes used to analyze trading of companies where the vast majority of all trades are retail/intitutional,etc. customers......HRNF has been dumping shares so fast it may make your head spin, despite the CEO's public PR's hinting at no additional dilution needed.
We know that even Scottrade is not allowing customers to buy HRNF shares.
Finally, a much bigger problem faces HRNF. The common share certificates they gave out are not being accepted, per first-hand accounts from shareholders that converted. I believe the major brokerages mentioned include TD Ameritrade, scottrade, and E-trade.
Pizza - propylene glycol, in e-cigs:
from a warning:
It is well known that propylene glycol, which is used in antifreeze, may cause respiratory tract irritation. Moreover, its chronic use may cause reproductive and fetal effects, and laboratory experiments have triggered mutagenic effects
blindowl - heard from whom?
was it public info?
Note the warning about insider trading on pinksheets, which can be seen on the quote page for this stock:
:: INSIDER TRADING WARNING
This company may not be making material information publicly available.
If you are an affiliate, employee, insider, or any person in possession of nonpublic material information about this company, please be advised that buying or selling this security may constitute trading "on the basis of" material nonpublic information prohibited under Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 10b5-1 thereunder. Violators of these laws are subject to civil and criminal penalties.
What is insider trading?
Illegal insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security.
Rule 10b5-1 provides that a person trades on the basis of material nonpublic information if that person is "aware" of the material nonpublic information at the time of the purchase or sale.
Affiliates, insiders, relatives, or other persons in possession of material information should use extreme caution when buying or selling securities on the basis of material information, particularly in securities where the company is not making adequate current information publicly available as a matter of practice.
Why is Pink OTC displaying this warning?
Companies that are identified on pinksheets.com as having “No Information” may be placing their shareholders at risk of violating 10b5-1 insider trading rules. Pink OTC Markets recommends that investors wishing to place a trade in such securities contact the company to verify it is making adequate current information publicly available.
Pogie, hop-on is not an e-cig company, manufacturer, or anything but claiming to have an agreement to be a distributor and try to set up some e-commerce sites. I see no language about hop-on being an exclusive distributor, and Dave Worley even mentioned, " And we are looking forward to more distribution channels opening up to us in the near future."
If anyone had any money, they would instead do real advertising and other marketing. HOP-ON reports it has no money, and basically paid for almost everything through sales of shares.
Distributors have low margins and no margins if they don't generate sales or orders atributable to their efforts.
I'm wondering if the so-called deal actually involved transfer of ownership of series A and/or B preferred shares? Could someone else actually now control most of the preferred shares (other than PM)?
Re: CEO's felony probation revocation
http://pichog.com/images/n2lto90twzscrq2q9w6.png
Has anyone heard how the evidenciary hearing against PM went? If he is revoked, I imagine he will resign immediately.
I keep thinking of the latest unaudited financials and how they report no sales and no money in the bank. Where did the money go?
whataway - share structure - this may have increased a lot since September!
post from ragingbull. You can confirm this from what Peter posted on his website.
By: rs4racing
29 Dec 2009, 10:44 AM EST
Rating: Msg. 74881 of 74881
Share structure - almost at limits right now - ouch
as of Sept. 30, 2009
common stock - 774,049,710 shares issued and outstanding. 800,000,000 authorized.
Class A convertible preferred - 5,000,000 issued and outstanding
5,000,000 authorized
Class B convertible preferred - 4,000,000 issued and outstanding
5,000,000 authorized
Current assets = $0.00
Checking balance = $0.00
Accounts receivable = $0.00
Sales = $0.00
Common stock issued = $177,292
Note - HOP-ON spent EVERY last penny and has $0 cash left. Nothing in the bank.
Then they will reverse split
Pizza - you like mikie?
I see you haven't done any DD on what he has done to shareholder value, over the years, and in 2009. He promises other things, then hides behind his so-called safe-harbor statement.
steal - based on HPNN's series of serial failures, I sure wouldn't bet on any success from them.
HOP-ON has already proven they can't seem to sell much of any of the chinese products they have been trying to peddle.
The low volume of shares being sold also appears to point to the possibility HOP-ON is trying to dump even more shares.
After all, their assets have dwindled to a tiny fraction of what they previously claimed, and HOP-ON has $0 in the bank.