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Banana - hopefully you aren't trading based on this apparent material non-public insider info leaked to you. Here is the pinksheets warning about Paychest. Can be found by clicking on the warning link when viewing the quote for PYCT on pinksheets website.
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.
getthapaper - largest trade so far today at $0.0005 is for less than $100.
Looks like not many are dumb enough to buy at these high prices, knowing that HRNF is likely trying to dilute Billions more shares.
Investors may be able to buy at $0.0001, once other investors see what the HRNF CEO is doing to dilute the share pool.
Paychest - as you are already aware, there is no short interest and the company's stock audit confirmed there is no naked short issue with PYCT.
The company also can't do any dividend while deliquent in financials.
Sounds like you drank plenty of the stock tout kool-aid and are holding onto misinformed claims of shorting of PYCT.
I guess with knowing about the companies dire financial condition (almost flat broke, as of last report) and no money coming in, and no disclosure on how much of the company they are giving away to stay afloat with their cash-burning; you can only think of things like shorting to keep your hopes up.
Maybe there was something to that poster that was talking about the company/PM being watched. Maybe PM is avoiding putting out any info because of that....worried as heck?
Without financials, I'm guessing they could also get a temporay trading suspension notice from the SEC. You can see these more and more with co's that don't do adequate and timely disclosure.
Why would anyone buy a phone from hop-on? What evidence is there that hop-on would stand behind their product. Why take the risk, especially with hop-on's track record?
Now the bid is usually for a tiny number of shares, while the ask is for a large number. It looks like someone is posting such a bid because they know they will rarely get filled for such a tiny $5's worth of PYCT shares. If they do, no biggie. That's manipulation for ya, IMO.
Scottrade's No buy and no buy/no sell of certian companies (HRNF is on the NO BUY list) due to clearing restrictions.
I think that because HRNF has been dumping so many shares for so long, and doesn't update the markets with their new share structure (many still show 1.6 billion or so outstanding shares, it is actually closer to 3 billion shares out; the broker gets an alert on a larger percentage (of broker's outstanding share count number) of fails to deliver. Since Scotrade is a low-fee broker, I believe they don't want to risk covering the fails to deliver (have to cover them within a short time period), they put restrictions on cetain stocks.
If someone is really dumb enougfh to buy shares at these high prices, they can simply open another brokerage account with someone else. Usually some others allow you to trade these questionable diclosure companies, IMO.
HOP-On has no viable product or services in this area.
I wouldn't be surprised if the SEC doesn't suspend them for 10 days or more eventually for not providing timely disclosure to the markets.
MAY CLOSE AT $0.0003 ON DILUTION WOES
In my opinion....No
The info that HRNF needs $3 million in financing is the big problem.
Just calculate how many shares HRNF will need, at $0.0003 or less, to get the $3M. Now apply a 30% + discount. They may need at least another 12-15 billion dilutive shares just to accomplish this.
Now add the fact that, if investors find out they are diluting even faster, the investors may try to sell before the share price goes to no bid.
Then calculate how many shares they will need to dilute at a PPS of $0.0001 to get $3M in financing. That's at least 30 billion more dilutive shares that will need to get dumped.
These issues and the track record of HRNF CEO Pagnano make me conclude that HRNF is not a good buy at any price.
Pagnano will just dilute the share pool, then do another reverse split and ticker change to let the stock price fall even faster.
Thanks for asking, though.
They may be dumping billions of shares already. If only they could find someone to buy them....LOL
HOP-ON's registered agent resigned, too.
Actions\Amendments
Action Type: Commercial Registered Agent Resignation
Document Number: 20090732087-48 # of Pages: 12
File Date: 10/02/2009 Effective Date:
Scottrade not allowing buying of HRNF shares. A friend just sent me this, since he almost got stuck with HRNF shares and wanted to warn me against the same. I jokingly told him that "friends don't let friends buy HRNF shares".....LOL
He thought the share count was still closer to 3/4 billion shares. I passed-on the info of well over 2.5 billion shares out and the new share auth. of 5 billion.
Note: first columns is NO BUY/SELL ONLY and HRNF is included in this restriction.
Clearing Restrictions
Scottrade has set restrictions on the following securities due to clearing restrictions:
No Buy/Sell Only No Buy/No Sell
.AFPUN ADGSF#
.AIUN ANVH
.CEUUN ARAH
.CRSUN ASTN
.CVLUN ATROB
.EPUN AVOT
.FCEUN AVPJ
.FYPUN Bad Toys
.IPLUN BCIT#
.LPVUN BGCC
.MKZUN BHUB#
.MMNUN BLKIA
.PUB BRPNF
.TPLUN CAEJ
.TRFU CBNG
.TRFUN CBRP
.WJAA CBYAA
ADCS CCMI
ADSV CGAR#
AMHD CITI#
ARIO CXAC
ASFX DBYC
ATLJ DGIA
BBDA DTGP
BCDN DTSN#
BIEL EAGM
BWNR EESO
CBGC EXTF
CBCGQ GGTS
CBYI GEQF
CESV GFTX#
CLXM HHGI
CMKX* HSXI
CPRK ICTC
CWIR INNP
CWRN IPWG
ENCS IQWB
ERUC JSXG
EVFL KGLJ
EWRC KSGT
EXPH LCOL
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FTAR LITL
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GLCC LVLV
GLME LYMGF
GMZP MAMG
GRBT MDNO
GREM MDRG
GSFD MGLG
GTLA MLCO#
Hansen O MNSI
HCKE MNTY
HPNN MODR
HRNF MSRM
HTDS MTPH
ICTY MVIV
IDCN NMCX
IDGI NNCP
IGNT NNTH#
IHGP NVMG
ILGL PDAE
INCL REMV
INOV RGTN
ITRO RVGD
IVCO SAMCF#
KKUR SAMSF#
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LLBO SSELY#
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MAEIE SSGQY#
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MDIN SSNHY#
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MODC STRU
NBVG SVAFF
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RCCH
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TECA
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TYRIA
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USCI
ZCNW
No Buy/Sell Only - You cannot place buy orders on this security. Only sell orders can be placed.
No Buy/No Sell - You cannot place either buy or sell orders on this security.
* Symbols appearing in bold text are recent additions or changes to the list.
Updated 10/20/09
Scovillez - Your wording seems to cover it. I think it would be better if a shareholder asked Pagnano about this with a request like you wrote in your message. Unfortunately, it appears as if many shareholders are not concerned about doing DD. Many are hoping for a quick pump/dump pop so they can sell.
As often happens with HRNF; by the time the shareholders realize what is going on, Pagnano has dumped billions more dilutive shares and there is little hope of selling shares for anywhere near what they were bought for.
We now see the outstanding share count heading for 3 billion shares, up from around 35 million shares earlier this year. Pagnano is obviously repeating his dilution nightmare busoiness model once again, while paying for fluff press releases to keep bagholders hooked.
silver - that's the same stuff longs were trying to tout during the scam man Mario Pino's days at the helm of this company. We all know how that one turned out. He is in trouble with the law and the SEC.
The company has partnered with other companies during this process.
....
So, how much of the company has PYCT given away to each of their new "partners"?
We all know they owe the $5 million already, only for "rights". Patents still owed by others.
Maybe the lack of financials is because they cannot or will not disclose just how much of the company is being given away in the form of shares. Maybe Pillay's son isn't willing to put out financials like that, especially since he recently got out of grad school. Did Pillay's son move to Canada, too? Did he pass his CPA exam? LOL
My info on HRNF from sunbiz.org
Note: you can also find all those judgment liens against the company (World Golf Enetrtainment Holdings/World Golf League) there, too.
.......................................
Detail by Entity Name
Foreign Profit Corporation
HEATHROW NATURAL FOOD & BEVERAGE, INC.
Filing Information
Document Number F08000004202
FEI/EIN Number N/A
Date Filed 09/25/2008
State DE
Status ACTIVE
Last Event NAME CHANGE AMENDMENT
Event Date Filed 02/06/2009
Event Effective Date NONE
Principal Address
963 HEMSLEY COURT
STE 107
LAKE MARY FL 32746
Mailing Address
963 HEMSLEY COURT
STE 107
LAKE MARY FL 32746
Registered Agent Name & Address
PAGNANO, MIKE
963 HEMSLEY COURT
LAKE MARY FL 32746 US
Officer/Director Detail
Name & Address
Title CPST
PAGNANO, MIKE
963 HEMSLEY COURT, STE. 107
LAKE MARY FL 32746
Annual Reports
Report Year Filed Date
2009 04/28/2009
Document Images
04/28/2009 -- ANNUAL REPORT
02/06/2009 -- Name Change
09/25/2008 -- Foreign Profit
Note: This is not official record. See documents if question or conflict.
someone else looked for business licenses for him/Heathrow in florida and I'm not sure if he is in florida anymore.
hop-on has no viable internet gambling position in the market. The already-established companies a foothold and are already ready to convert from free to paid gambling.
HOP-ON has nothing even in the works on this.
Mikie trying to hide from the court and judgment liens against his company in Florida? His company owes huge amounts of money already and we know HRNF doesn't pay its obligations.
No, I don't need a response. The SEC tipline and FINRA are the venues for the question when DD shows that there appears to be no companies by those names and one suspects there may be a false press release again by the company.
I welcome any info that supports the validity of the press release. So far not one person here has been able to confirm the existance of the two "premier" distributors (as HRNF calls them). A simple address and phone number for each would allow confirmation by those doing DD. From my observation, Pagnano seems to provide as little info as possible, so shareholders cannot do adequate DD.....given HRNF's track record with believable info in their press releases (IMO).
superstop - there are no shorts. There is no naked short problem, as disclosed by the company as part of their stock audit.
Of course, you already are aware of this.
What divvy, what name change?
Isn't that what Mario Pino used to try to do. create 2 worthless shells from one?
The SEC is cracking down on co's that try to do this.
Maybe it is more likely they just do a 1:300 reverse split, so the market cap and share price can more easily drop and they can continue dumping dilutive shares, since they are almost flat broke.
It looks like they will need to write-down many of the assets they are currently carrying on their books, also.
gapper - the question would be about the fact that people doing DD cannot seem to be able to confirm that these companies actually exist.
Correct company name, address, telephone number would be helpful for those doing DD.
Morning - still no financials. I guess Tom can't answer that question?
Did hre comment on, since they are almost flate broke, how many shares will be needed to pay for costs?
LEGISLATION WILL HAVE NO AFFECT ON HPNN
They have no viable products or applications for gambling. Not sure if they have any real products for sale anymore.
Float is now 2.6 billion shares, per HRNF
Maybe the last PR was meant to help support the latest round of dilution coming.
I mentioned before that those doing DD should try doing the math. Just how many discounted shares at $0.0003, $0.0002, or less will it take to get the $3 million in financing that HRNF says it is trying to get?
Can you say TENS OF BILLIONS more shares needed?
Will HRNF have to retract the last PR?
Maybe Pags is trying to create a little distribution company in those states, kinda like the Upwon arrangement created with his buddy George Calvi (shares for cash deal disguised as a membership promotion deal).
I can't imagine Target Corp. or Supevalue will like someone associating their respected companies with so-called distributors that no one can seem to find actually exist.
I just wonder where those memberships really went, along with the cash? Upwon supposedly got a cut from every membership they cliamed was sold.....LOL
binkers - A/S raised to 5 billion shares....ouch
Just saw it on pinksheets. Moderator, please update I-BOX with the new share structure. Looks like the dilution nightmare is getting worse.....fast.
Click on "Company Info" tab when viewing the HRNF quote at this link.
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=hrnf
Outstanding Shares
2,600,000,000 as of Oct 9, 2009
Authorized Shares
5,000,000,000 as of Oct 9, 2009
Float(shares)
2,600,000,000 as of Oct 9, 2009
Shareholders should be VERY CONCERNED about that last PR HRNF put out.
They should be asking Pagnano if these co's even exist and ask Pagnano to prove it by listing an address. If Pagnano did, in fact, sign an agreement with these so-called companies; he should be able to verify the address and phone number for both MCIM and TP Global. If he cannot or admits these co's do not really exist, shareholders should contact regulators (FINRA or SEC.GOV's tipline) out of concern for what Pagnano put out to his shareholders.
I'm now wondering if either of these co's have business licenses in those cities? Since Pagnano called them "premier", one would think they would. Maybe "premier" means they don't exist, but may "premier" at some future date? So far, no one has found evidence these co's even exist.
Mikie, please 'splain to us. Was that just to try to gain credibility by mentioning Target Corp. and Supervalue? Remember when you mentioned major networks and the golf channel while dumping billions of shares? Is this just another scheme to allow you to dump billions more shares on unsuspecting investors?
super - company has around $1,500, that's it.
Read their financials. They have no money coming in at all. They have around $3,500 in their customer's money (customer's deposits) from the Paychest payment processing business model failure. Can you imagine they will ever return that money to their customers?
They have not disclose current cash burn rate and how many shares they are dumping to stay afloat.
You can also guess that they will need to start writing down those almost-worthless assets they are still carrying on their books.
If there are no real co's with these names, then the SEC and FINRA should be made aware that there is a potential false and misleading press release issued by the company.
Has anyone found any evidence that there are real companies (distributors) by these names?
A shareholder could also email Pagnano to ask for the addresses and/or telephone numbers for these supposed distributors.
Is there even a real company named TP Global?
This is getting even more suspicious. What is Pagnano trying to do?
Nope - HRNF's PR could be bogus - there is no MCIM Trading in Plymouth, MN.
HRNF is even calling MCIM a "premier distributor". If it is, then why are there no real co's by that name and the Better Business Bureau has no business by that name on its list for Minnesota or anyewhere else in the USA?
Still may check to get Target Corp's general counsel to react the the PR. They often do not like co's claiming or implying relationships with the company and take action to prevent association of their company name with co's that do things like that.
Doesn't appear that Target does biz with any co by that name.
What is HRNF trying to pull?
I remember when this company tried to tout UPWON as the one distributing golf membership for the company. It turned out this was a George Calvi company (Paganano's buddy) and it was more a shares for cash deal disguised as a real WGLF membership releationship.
Calvi is also now a part of Heathrow......the plot thickens, and it doesn't pass the smell test, IMO.
Is HRNF already at their share auth limit of 2.5 billion shares?
Does anyone know if they have already raised the auth to 5 or 10 billion shares (Delaware) so they can continue dilution?
Being at their share auth limit might be the reason the volume has dropped-off. If at their limit, HRNF can't dump more shares until they file a new limit with Delaware.
I'm guessing they will need to raise the limit to at least 15 or 20 billion shares because of their desire to get $3M worth of financing. Do the math to see how many shares at a 20 or 30% discount they will need for $3M.
Schlumpy - it is not Pagnano's EXFUSE. He is only one of the many multilevel marketing scheme (MLM) distributors that paid a fee to the EXFUSE company to be so-called distributors.
As far as the gum goes, it looks mostly like HRNF is doing no manufacturing of the product. It look like they are probably just have a company that already advertises the gum let HRNF put their label on it. That company already offers "sample" blister packs of the gum and helps co's with the packaging art.
I am still of the opinion thsat HRNF's main business model is dumping dilutive shares at steep discounts for cash so they can stay afloat a little longer. Then they just reverse split and dilute even more.
So, no MCM Tading in Plymouth, MN?
In HRNF's latest PR, they indicated that MCM Trading of Plymouth, MN would have so-called distribution rights to Target Corp. and Supervalue stores.
Several search methods reveal no such company in Plymouth, Mn. Search of Minnesota businesses and through the Better Business Bureau reveals no Minnesota or US companies, either. Is this another Pagnano bogus press release?
Also, I guess HRNF doesn't understand Target's rules of doing business. Does Pags really think Target would ever accept a product from HRNF?
Hopefully someone lets Target know Pagnano is doing his little fluff press releases, using Target Corp's name to try to associate a reputable company (Target) with HRNF (questionable management, disclosure practices, and HRNF does not pay its obligations).
Thus, the pinksheets warning about PYCT.
here is the warning, found when clicking on the big red stop sign (no information), when viewing the quote on their site.
Indicates companies that are not able or willing to provide disclosure to the public markets - either to a regulator, an exchange or Pink Sheets. Companies in this category do not make Current Information available via Pink Sheets News Service, or if they do, the available information is older than six months. This category includes defunct companies that have ceased operations as well as 'dark' companies with questionable management and market disclosure practices. Publicly traded companies that are not willing to provide information to investors should be treated with suspicion and their securities should be considered highly risky.
wrong - there are both stock promoters and tout sheets trying to pump this to help people sell at $0.0001.
Now it is only the manipulation that is keeping it from no bid. As long as someone bids for 500 or so shares at $0.0001 the bid stays there. It is not likely to be filled easily because a seller knows that many shares will not even cover the commissions for the trade.