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Ernie - you obviously don't know Pagnano's tactics, when it comes to destroying shareholder value.
According to another poster who contacted Mikie....
Mike seems to think that just because his obligations to past prize winners and others who either won a court judgment or are owed money are in "default", he doesn't have to pay those obligations. Default simply means HRNF has not performed according to the agreement they signed....(surprised?)
I guess HRNF could seek bankruptcy protection, but those monies are still owed to the parties until a judge discharges the obligations.
Simply changing the company name does not change the obligations, although some shady companies seem to think it does.
IMO, not listing those "liabilities" in their unaudiited financials was just plain WRONG.
HRNF didn't retract the Oct 7th press release, yet?
Still can find no company named MCIM Trading, Plymouth, MN
Can't find any business. No records at the Better Business Bureau, either.
Ernie - I do not agree
So far, basically everything Pagnano has done has failed.....utterly failed.
So far with HRNF, Pagnano has implied dilution would not be needed. What did he do?
Pagnano increased dilution exponentially once again!
Why should anyone believe ANYTHING the CEO spews? So far; anyone buying any shares in any of the failed business models, including the current one, has lost almost every last penny of value.
Even a little DD would make all but the most gullible investors stay FAR AWAY from HRNF and Pagnano's follies, IMO.
Maybe you should ask why Pagnano wouldn't even buy shares in his company. Could it be that he knows the shares will be almost worthless and another reverse split is already being planned.
IVIT could easily be at $0.0001 in a few weeks
What reason would anyone buy at these high prices?
But no buying interest at these high prices.
3 trades?
3 trades yesterday
Looks like investors are not swayed by the BS Pr's
Even suckers are not buying
Must be on to Pagnano's dumping of shares and massive dilution of current shareholders' positions
Time & Sales
Price Size Exch Time
0.0003 7000000 OTO 13:45:32
0.0003 1500000 OTO 11:58:58
0.0003 1250000 OTO 09:35:16
They get away with it because....The SEC has decided to only investigate apparent false press releases when enough complaints come in.
I've asked several times for shareholders or insiders to provide evidence that those so-called distributors actually exist. All my searches have found no businesses with those names and no business licenses for those or similar names in the cities listed in the PR you reference.
HRNF has survided only by dumping dilutive shares at steep discounts. They continue doing this, apparently putting out press releases to fuel the sucker-buying of the shares almost immediately dumped by the financeers (to lock-in their profit).
Yep, almost all dilutive shares dumped by HRNF hitting the share pool.
Dilution could hit almost 5 billion shares in 2009.
Then HRNF will need to reverse split. Anyone buying at these high prices will soon see they can't sell at that or even lower prices.
IF HRNF HAD REAL ASSETS, THEY MAY HAVE ALREADY BEEN SIEZED BY THE JUDGMENT LIENHOLDERS THAT HAVE RECORDED CLAIMS AGAINST THIS COMPANY.
Correct, PYCT has no patents for this, and it is doubtful they have ANY money left at all.
They are hugely in debt now, too.
Dilutive shares HRNF is dumping by the billions have no calories, but will contribute to the loss of all shareholder value to anyone buying HRNF shares (IMO, of course).
Learning - HRNF incresed the authorized shares multiple times already, since the 2009 reverse split.
They started with 750 million authorized (around 38 million issued and outstanding at/after the 2009 reverse split).
Now they have increaed the authorization multiple times (now at 5 billion shares).
They are diluting as fast as they can get gullible people to buy these overvalued shares.
HRNF also PROMISED to spend at least 30% of their REVENUE to buyback shares to buy down the public float to seventy five million shares or ten percent of its authorized common
shares (huge lie by HRNF, IMO). (See 4/'09 press release by HRNF)
HRNF is simply diluting shares to stay afloat
Thus, they even have been paying stock promoters to try to help them in their effort to keep the share price at $0.0001 or higher (as dilution continues to grow exponentially).
Flatrader - no, the gum won't be available at all
But HRNF will announce another reverse split, as the O/S count continues to grow (dilution) exponentially.
Preliminary agreement? LOL Did you notice how that other company (Natural Harmony) dumped HRNF, once they found out about Pagnano and his hisory of diluting his shareholders into the ground, then doing a reverse split and continuing the dilution?
See the IBOX, under "Other News"
Yep, HOP-ON had $0 sales and is almost flat broke - no money in the bank, either.
Where did all that money go? It sure wasn't spent on the shareholder meeting. We are not sure there really wa one. Peter may have called a quorum with his own shares/preferred share ownership.
Now even prefewrred shares seem to be maxxed-out or close to maxed-out.
Will he authorize even more classes of preferred to make the common even closer to worthless?
Looks like HRNF could be at no bid within weeks
The fact that they are diluting as fast as possible, all while buying interest is drying up. Once bagholders find out about Pagnano's history of massive dilution touting/paiying promoters to help dump even more stock on the unsuspecting, they are now stuck with overvalued shares.
HRNF may even need another reverse split soon.
Beware - HRNF dilution getting REALLY BAD
Pagnano obviously is putting out PR's and has been confirmed to be paying stock promoters, all in what looks like an attempt to dump billions and billions of shares on unsuspecting potential victims (bagholders).
Do your own DD before buying even one share. Pagnano seems to have a business model that is all about dumping shares at steep discounts for shares, all with little or no disclosure into his dilutive share dumping (until tons more shares are dumped and he increases the share authorization by billions more shares).
No wonder so many warn about this guy. HRNF does not pay its obligations (past prize winners, court judgment, etc). Below are three of the Florida judgment liens Pagnano REFUSES to pay.
Document Number J07900007260
Status ACTIVE
Case Number 06-CA-1380-15
Name of Court CIR CIVIL DIV SEMINOLE CTY FL
File Date 05/14/2007
Date of Entry 04/17/2007
Expiration Date 05/14/2012
Amount Due $39044.10
Interest Rate 11.00 %
........................
Document Number J08900000257
Status ACTIVE
Case Number 07-CA-002716
Name of Court 18TH JUD CIR CRT SEMINOLE CTY
File Date 02/06/2008
Date of Entry 09/05/2007
Expiration Date 02/06/2013
Amount Due $74932.00
Interest Rate 11.00 %
..........................
Document Number J05000101409
Status ACTIVE
Case Number 05-CA-1111-16-K
Name of Court CIRCUIT COURT - 18TH CIRCUIT
File Date 07/15/2005
Date of Entry 05/31/2005
Expiration Date 07/15/2010
Amount Due $71,359.75
Interest Rate 07.00 %
Name And Address of Judgment Creditor (Plaintiff)
FOCUS PARTNERS, LLC
51 EAST 25TH STREET
SUITE 401
NEW YORK, N.Y. 10010
....................
gart - PYCT still at NO BID
checked several times today - each time PYCt was at NO BID
Mayy need a reverse split soon, too
Otherwise IVIT may see no bid, $0.0001 ask and get stuck at that level.
Can't trust HRNF or Pagnano - beware
HRNF still owes prize winners' money, numerous judgment liens against the company, too.
Now he is diluting faster than ever before - dumping billions of shares on the unsuspecting that believed him when he commented that and the re-purchase of shares.....apparently he lied about getting the float down....surprised? Read part of a couple press releases HRNF spewed....LOL...still believe Pagnano's BS?
..............
Excerpt:
Heathrow Natural Food & Beverage, Inc. to Initiate Stock Re-Purchase Plan
Heathrow Natural Food & Beverage, Inc. to Initiate Stock Re-Purchase Plan
Effective April 20, 2009
LAKE MARY, FL -- (Marketwire) -- 04/16/09 -- 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.
............
excerpt:
Heathrow Natural Food & Beverage, Inc. Announces Share Structure
Heathrow Natural Food & Beverage, Inc. Announces Share Structure
220,146,013 Outstanding -- of Which 150,000,000 Is Restricted -- 70,146,013 in Float
LAKE MARY, FL -- (Marketwire) -- 03/24/09 -- Heathrow Natural Food & Beverage, Inc. (PINKSHEETS: HRNF) is pleased to announce the current share structure as of today, as verified by its transfer agent. The current common shares outstanding are 220,146,013, of which 150,000,000 are restricted until March 20, 2010. The float as of today is 70,146,013. The company does not plan on raising the float above 20% of it's authorized of 750,000,000 or 150,000,000. These additional shares will be used to retire the outstanding note with DLC Capital of $125,000, which will make the company debt free and not require the further dilution of shares to pay down debt.
"With revenues expected to satisfy the companies capital needs over the next several years, convertible debt which causes tremendous dilution will not be necessary. As revenues permit, the company will initiate a share buyback program to bring the float down to 10% of authorized shares or 75,000,000. We strive to create shareholder value both through our share structure and Heathrow Natural Super Food products," said Michael Pagnano, CEO of Heathrow Natural Food & Beverage, Inc. "We will keep shareholders informed on a regular basis going forward though both press releases and the Investor Relations section of the companies new web site which is under development."
steal - HPNN is basically flat broke now
assets are almost 'nil - nada, nothing
didn't sell even 1 phone
How did they lose almost every penny they had (or claimed they had/would get)? Peter?
Big Apple consulting in trouble - charged with fraud, etc.
Excerpt: U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21305 / November 18, 2009
Securities and Exchange Commission v. Big Apple Consulting USA, Inc., MJMM Investments, LLC, Marc Jablon, Matthew Maguire, Mark C. Kaley, and Keith Jablon, Civ. Action No. 09-cv-1963 (M.D. Fla.) (JA)
SEC Charges Investor Relations Firm and its Executives with Fraud, Registration Violations, and Acting as an Unregistered Broker-Dealer
.......................continued...see sec website.
Note to all:
HRNF claimed they stopped using them earlier in 2009.
Big Apple still was involved in the proposed deal HRNF was trying to do with Natural Harmony Foods.
Here is an excerpt from Natural Harmony's shareholder update (May 2009). The link to the document can also be seen in the IBOX
.....
Funding. In January, with no other apparent option, we entered into an agreement with Big Apple Consulting. They were to help us raise one million dollars or more, bring more market makers to our stock and assist us in moving to becoming fully reporting. About 6 weeks into the agreement they admitted that they were not having success raising funds nor helping the stock activity. They did propose a deal with Heathrow. We signed a Letter of Intent to be acquired by Heathrow. Through our subsequent due diligence we became concerned that Mr. Mike Pagnano and his companies were known for putting out tons of shares, then doing major reverse splits with little concern for the long term success of the underlying company. At the close of the 30 day period, we notified Heathrow we had no interest in going further with them.
On May 1, we notified Big Apple that we wished to terminate our agreement with them immediately with no further obligations by either party. They have yet to respond.
PYCT - $0.0000 bid, $0.0001 ask
Looks like it is back to NO BID.
Sellers still hoping to dump at $0.0001, though.
TRUM - someone could theoretically get in trouble if they TRADE based on insider info given out by an insider or the paid IR person fed material non-public (insider) info to disseminate.
I think Hands knows IR could be being watched. With the big insider trading warning on pinksheets about PYCT and the severe civil and criminal penalties that could result from someone trading based on what may be insider info, I'm guessing he is a bit worried that people could get caught trading based on material non-public info that may be getting out.
On the other hand, he may be worried that there will be few buyers to absorb all the shares likely being dumped on the unsuspecting bagholders.....thus, the price is back to NO BID once again.
5 billion shares out already? We knew the dilution share count was going up exponentially, but that is simply horrible!
I know they did raise the share auth to 5 billion, since they went to 2.6 billion share out in almost record time (dilution).
Is this all pass-through income? Why else would Pags tout "operating" and not "net". Sounds like the "help sell some more dilutive shares" PR before the really bad news comes out, IMO.
It looks like HRNF may need to dilute 10 -15 billion more shares soon, per their PR on trying to get money somehow through financing.
Did he mention net dilution up 300% or more, so things are actually much worse for HRNF....and dilution is still accelerating?
Authorized share limit now at 5 billion! Ouch, soon to be 10 billion and another reverse split by Feb/March, or after HRNF is at $0.0001.
Pagnano still hasn't explained the last PR or confirmed those two companies actually exist, IMO. Big problem, IMO.
Is Mario's mugshot avaailable? It would be funny to see him without all his bling!
I wonder if Pillay or Alex Cerda visit MARIO frequently. I doubt Tom Hands would, though. It looks like he is in Canada now.
No reports of Chen pumping anymore? Maybe he got scared after someone reported they got unsolicited contact from him urging more buying....LOL
Maybe alias "Paychest" poster/paid IR person Tom Hands can comment on this:
Tom, did you actually give what appears to be material, non-public info to a ragingbull message board user, using the alias "lastsinmaster"?
By: lastsinmaster
06 Nov 2009, 12:55 PM EST
Rating: You rated it: Msg. 47368 of 47380
Jump to msg. #
For Stock Holders Eyes Only!!!
..............
If you did, Tom, also read message #47380 lastsin - please refer to insider trading warning
HOP-ON has no viable businesses, so they have no competitors
HOP-ON has promised AUDITED financials. They have NEVER kept this promise.
I'm guessing you may be a bit worried that your vested interest is going down the tubes. Stuff happens when you invest with a company run by a convicted felon. You may just now be understanding what a failure PM appears to be/was.
Catch - more stuff not necessarily seems to be true
Did you notice that hop-on had many pictures of phones that were "available now" on their website, yet they recorded $0 in sales/revenue and a huge decline in assets, with no money in the bank at all, during their last reporting period.
I'm not sure how you can defend the man, when there is so much evidence (including his felony conviction) that should make one more than a little skeptical.
catch - posting stuff not true?
Remember the noticre and the date of the shareholder meeting for 2009.
Why did it take actual DD to find out the hotel no longer had a shareholder meeting for HOP-ON scheduled. There was a preliminary reservation, but no confirmation from HOP-ON.
then we find that strange PR about Peter declaring a quorum at a meeting (no admission that there EVER was a meeting at the location in the earlier PR) and he was re-elected. No disclosure if the quorum was the result of his preferred shares and if ANYONE else was at the meeting.
Banan - and they are still flat broke, have no revenue, and no disclosure on how much of the company they are giving away to stay afloat a month or two longer. LOL
Currently showning no bid, $0.0001 ask for PYCT.
Doesn't look good. They will probably need to put out some kind of fluff release to keep the bagholders buying the shares issued for services at $0.0001, etc.
pogie - biggest trade was for $350-worth of HPNN
That's hardly what I'd call buying interest
Yes, especially problematic is that they had around $174K of administrative costs, resulting in no sales and no money in the bank. Ouch.
It seems as if some of these pinkies keep going just because they can sell dilutive shares or issue them to stay afloat and pay the CEO. They don't have to be viable, just be able to get people to buy the shares.
I agree about the financials revealing big problems with HOP-ON
audited financials would have to resolve if ANY of those previous financials, which reported "sales", resulted in any real "revenue". Booked "sales" are not revenue unless the sales are completed and hop-on delivers and gets paid. I'm not sure any sales have been completed.
Those financials confirm no sales, no money in the bank, and no assets.
Could this have been orchestrated on purpose because of the default judgment against the company? Was HOP-ON ordered by a court to provide some kind of accounting of the company's financial condtion?
Was PM worried the SEC would suspend them for 10 days for not providing adequate info to the investing public, like is happening to so many other pink and grey sheet companies?
Did the fact that Scottrade won't allow any buys of HPNN shares and the fact pinksheets dot com has the huge warning about hop-on cause PM to get a bit nervous?
Who knows?
catch - maybe you should try reading what HPNN put on their website. They confirmed absolutely NO REVENUE, NO SALES, almost no assets/cash left, they have HUGE liabilities, plus they lost a huge lawsuit.
Guess who will retain any value left when/if they go belly-up? Preferred shareholders.....LOL.