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More MASSIVE DILUTION COMING? OUCH
stock price may be at $0.0001 within weeks!
When's the next 1:300 reverse split, so the stock price can tank even further
"arranging for up to three million in private capital"
Correct - almost no buying interest in HRNF
and many aren't even aware of the massive dilution HRNF has been doing. Scary stuff, and contrary to HRNF's puiblic disclosure on what they planned.
Just look at the O/S count today
OH MY?
Will they have to change the auth to 50 billion shares by October?
The race to NO BID is on.
Will it hit 5 billion shares outstanding, have to reverse split, or get stuck on no bid soon?
I sure wouldn't bet on anything good coming, especially with a CEO with the track record of failure (my opinion based on fact and the BS HRNF seems to spew) Pagnano has brought to any biz model he has tried.
not even sure Paychest or related parties has or owns a patent that is enforceable on the stuff.
Really doubtful that there will be any real production or sales....ever.
Market cap at current prices is already far too high. At 25 cents, it is simply ridiculous. There probably will need to be 50 billion shares out to keep the company afloat into 2010, too.
Probably will need the reverse split soon instead. All will be moot if they get suspended for not enough disclosure, too. I've seen this happen with more and more pink and grey sheet stocks lately. Look at the SEC.gov site for evidence of this.
joe, this simply could be one of two things...either should not provide confidence in this POS.
1. The company is dumping shares at a steep discount to $0.0001 for services or to pay financeers. This makes sense, since PYCt is providing little or no disclosure on funding, and their stock promoter now seems to be contradicting what they PR'd about Pillay's company's compansation.
2. Certain people/entities have a lot of shares to dump; and as soon as pump/dump rumors or stock promoters help by attracting new bagholders/sucker investors, those bagholders buy the shares and are now stuck with them.
Still no bid...not looking good.
dcjr - so another 10-20 billion shares will have to be issued to pay for the financing?
Probably need a reverse split long before that, since there is basically NO BID right now.
Still getting close to 2.5 billion shares out - ouch.
Up from 35 million shares issued and outstanding just after the reverse split, just months ago.
Quite a bit larger than HRNF's previous guidance and statement, not needing much dilution, and reduction is share count. It seems like that statement was abandoned almost before the ink was dry.
Modus operandi for HRNF, I guess. Say one thing, then do something entirely different with little or no disclosure to shareholders that they are doing things contrary to their statements.
I wonder when they will correct their most-recent financials to include their judgment liens against them and their additional monies owed to prize winners that they neglected to disclose. No wonder they don't do audited financials and got booted off the OTCBB.
Looks like reverse split is their only option now.
Between 20 and 25 billion shares issued and outstanding, plus a ton more dilutive shares likely to be issued to try raise money. They are supposedly doing testing and a trial, but have littl or no money to do so, at their last report.
anyone have latest O/S count from the transfer agent?
Have they hit 2.5 billion shares, yet?
Has HRNF raised the share authorization to 5 billion shares, yet?
Anyone care to take a guess at when HRNF will have to do their next reverse split?
Is HRNF giving unregisterd shares to stock promoters for touting of this stock in newsletters, etc.?
super - PYCt is almostt flat broke. They have little or no money for marketing or production or much of anything else.
Thew price is currently no bid. There is a bloated float and the outstanding share count is simply stratospherically-high.
Did you notrice the company is purposely no disclosing how many billions of shares need to be issued to keep them afloat a little longer, and where the registrations for shares issued are...and if there is no registration, how they determine they are exempt from registering the shares?
getthe - nope, should see $0.0001 soon on dilution and other concerns. HRNF has very little money left and will need to dilute. They are already close to the latest 2.5 billion share auth. limit.
Not with the current CEO in charge of this fiasco. This has been a total failure since day 1, and it hasn't got any better.
Have you seen the judgment against PM, too? How will he pay that?
LOL - on a $27.50 trade? Only 5 trades all day.
Looks like the stock price manipulation is in full swing, to make it look like there really was someone buying at these high prices.
Time & Sales
Price Size Exch Time
0.0011 25000 OTO 15:35:09
You'd think they'd at least feed you a few shares. Maybe your broker is smart enough to not accept a couple dollars-worth of shares.
I was told that Scottrade won't allow ANY of their customers to buy even one share of HOP-ON. Apparently this has been Scottrade's policy with this pinky for a long, long time.
I didn't believe it, so I was sent a list of the stocks that had trading restrictions (No Buys/ Sells only). Can't imagine anyone that would want to own even one share of HOP-ON for ANY reason. Supporting a crooked felon CEO like Peter Michaels (still serving felony probation for stock fraud/,money laundering) is not my idea of a smart thing to do.
If you have an all-or none, you may never get filled.
If you have a limit order, they may feed you a few shares just to show it is still trading, and to get rid of some odd-shares of their inventory.
carl, now you are stretching the truth a bit. We all know PM appears to not have the best interest in shareholders in mind, and he really pulled one out of his ___with his "Results of Shareholder Meeting" PR.
I hope PM gets what he deserves, but we all know the SEC seems to let most of the crooks keep doing their thing.
Short interest report 8/14/2009
Security Name|Security Symbol|OTC Market|Current Shares Short|Previous Report Shares Short|Change in Shares Short from Previous Report|Percent Change from Previous Report|Average Daily Share Volume|Days to Cover
HEATHROW NAT FOOD|HRNF|NBB|482489|29844|452645|1516.7|26363845|1
Remember...anyone that is compensated with cash or shares by the company or third parties for stock promotion is required to provide details and a disclaimer in their posts, per IHUB rules.
Not insinuating anything....just mentioning it. Also, insiders and investors need to be aware of the pink sheetds warning on trading pink sheets stocks based on insider info, sometimes "leaked" purposely by certain CEO's or others by email, fax, or other telecommunication methods.
Here is the warning....applies to many pinks sheets co's, and is posted here because we were seeing (at times) certain posters allegedly posting certain info purportedly from the CEO obtianed through phone calls or emails. This info appeared to me to be material, non-public information spread on message boards.
...............................................
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.
HRNF can't simply run from these debts by changing their name and ticker symbol. Maybe this is why they were running the company out of his condo....to avoid sheriff siezure of any property or other assets that the homestead law in Florida shields people from.
Why is HRNF failing to disclose this debt in its financials?
Judgment Lien Detail
Processed Thru 08/19/2009
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 J08900012458
Status ACTIVE
Case Number 06-CA-1380-15
Name of Court SEMINOLE CIR CRT CIVIL DIV
File Date 07/16/2008
Date of Entry 04/17/2007
Expiration Date 07/16/2013
Amount Due $39044.10
Interest Rate 11.00 %
Name And Address of Judgment Creditor (Plaintiff)
ANDREW MIRIANI
9253 N. FIREBRICK
FOUNTAIN HILLS, AZ 85268
Name And Address of Judgment Debtor(s) (Defendant(s))
THE WORLD GOLF LEAGUE, INC.
963 HELMSLEY COURT, SUITE 107
LAKE MARY, FL 32746
Document Number: P99000110953
FEI/EIN Number: 593617006
Why is this HRNF debt not listed in financials for HRNF?
This was a court-orderd judgment against Pagnano's company. Plaintiff was a past prize winner that Pagnano bilked out of money due. More proof Pagnano does not pay his obligations.
Judgment Lien Detail
Processed Thru 08/19/2009
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 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 %
Name And Address of Judgment Creditor (Plaintiff)
NATHAN BERTSCH
C/O TODD M. HOEPKER, ESQ.
P.O. BOX 3311
ORLANDO, FL 32802
Name And Address of Judgment Debtor(s) (Defendant(s))
THE WORLD GOLF LEAGUE, INC.
C/O NRAI SERVICES, INC., ITS RA
2731 EXECUTIVE PARK DRIVE, SUITE 4
WESTON, FL 33331
Document Number: P99000110953
WGL ENTERTAINMENT HOLDINGS, INC.
C/O NRAI SERVICES, INC., ITS RA
2731 EXECUTIVE PARK DRIVE, SUITE 4
WESTON, FL 33331
Document Number: P99000110953
Why is this judgment not listed in HRNF financials as a liability?
Judgment Lien Detail
Processed Thru 08/19/2009
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 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 %
Name And Address of Judgment Creditor (Plaintiff)
ANDREW MIRIANI C/O ROBERT KAATZ, ESQUIRE
3001 WEST BIG BEAVER ROAD, SUITE 600
TROY, MI 48084
Name And Address of Judgment Debtor(s) (Defendant(s))
THE WORLD GOLF LEAGUE, INC.
2139 WEST SR 434, SUITE 101
LAKE MARY, FL 32746
Document Number: P99000110953
FEI/EIN Number: 593617006
WGL ENTERTAINMENT HOLDINGS, INC.
963 HELMSLEY COURT, #107
LAKE MARY, FL 32746
Document Number: P99000110953
FEI/EIN Number: 593617006
Did Pagnano file a false financial statement?
Why did he not include this judgment lien agains his company? This is a known DEBT.
Judgment Lien Detail
Processed Thru 08/19/2009
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 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
Name And Address of Judgment Debtor(s) (Defendant(s))
THE WORLD GOLF LEAGUE, INC.
2139 WEST STATE ROAD 434
SUITE 101
LONGWOOD, FL 32779
Document Number: P99000110953
Learning - just go to the pinksheets filing, quarterly report.
Look under cash and cash equivalents - there you will find the $26,437 number.
http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=22981
Still not sure how you can own something as fishy as this without having even a basic amount of info or know where to find it. No wonder so many scammy CEO's prey on people like you.
Yes, the old distract when you can't respond tactic.
I've seen how people like you and Mike P. work many times. Again, your posts speak volumes; and attest to your comprehension ability and ostrich-like burying your head in the sand.
Cannot help you, if you cannot find such simple info yourself. Sorry for your condition. Maybe you should not be involved with such poorly-managed penny stocks and failing business model co's, IMO.
Your posting history speaks volumes. with no quick solution available for your problems.
Do your own DD
Try looking up the info for yourself.
You may never benileve the latest share count from the transfer agent, either. Almost all the volume has been dilutive shares dumped or paid stock promoter's shares given to them.
Of course the stock promoters are working hard. One even got 150 million shares of HRNF, plus another third party paid a ton of shares.
It looks like HRNF's business model of diluting as fast as humanly possible is in full operational mode once again. HRNFD is already almost at their 2.5 billion share auth limit already.
and to think Pags recently tried to assure shareholders that dilution would not be needed soon. Can anyone belive anything HRNF spews while they are dumping billions mor shares on the unsuspecting public?
Pagnano deserves the wall of shame for CEO's, IMO.
Read their latest unaudited financials.....under cash and equivalents. Accounts reveivable also mean nothing, unless they actually reveive real money, not IOU's. Note that HRNF already made prommissory notes to past prize woinners, yet failed to pay them in a timely manner. I'm not sure they have ever paid much on those monies Pagnano promised the Florida attorney general office he would pay.
Pagnano also prom9ised he would NOT advertise any events unless money for prizes was in escrow. Pagnano failed to do this for the $1 million for the MDSO.
Quality testing will be a big issue - may not be able to complete it, with funds on-hand. HRNF only has around $26K in cash left in their coffers.
Product testing includes extended shelf-life simulation testing (to make sure th gum won't be moldy in a few weeks/months).
Funky accounting by Pags?
How can he carry, as an asset, film production costs; when he fails to disclose all the judgment liens and $1 million owed to MDSO winning team, and the court judgment as liabilities?
Like I indicated, it appears that some funky accounting is being done.
I'm pretty sure Pags conviced some gullible newbies to buy some stock.
I think that most shares are just the private placement stuff and the hundreds of millions of shares that are going to paid stock promoters.
Pags must be laughing at all those that believe anything he puts out.
He's probably already planbning the next increase in the share auth to 5 or 10 billion shares, plus the next reverse split.
Next reverse split could be coming very soon.
Pags still needs to write-off film production costs that he is still carrying on the books as assets, IMO. If there really was any revenue for the reality show, accounting rules would have required him to lower that asset by revenue received.
Looks like HRNF is diluting as fast as they can. Could reach their 2.5 billion share auth. limit this week.
Then HRNF will need to increase the auth. to 5 billion or more, or announce the 2nd reverse split this year so the stock price can continue falling (once investors see HRNF is dumping shares at an exponetially-increasing pace).
Carl, the SEC may be onto the misleading stuff.
The only way there was a quorum is if PM attended. The SEC neds to verify there was actually a meeting with real shareholders present.
From the info you gathered, HOP-ON never paid for the meeting room and there was no meeting there. Looka like a lot more dumping going on once again. PM must need to dump shares for advertising and to stay afloat. Selling phones sure isn't working.
Maybe the meeting will be in the lobby, unless a shareholder springs for a small room next to the kitchen. I wonder if PM is the one selling those old phones on ebay? No much success, though. I wonder if the IRS knows about those sales. Whoever is doing it would need a business license and have to pay taxes on those sales.
Another basically bogus projection, IMO. 35 million shares outstanding projection?HRNF has diluted close to 65 times that many shares since then.
How many of these kind of projections can you find in the last year? Can you count them on two hands?
HRNF has diluted close to 65 times that many shares since then. Shame on you, mr. Pags. I believe you paid one promoter newsletter at least 4X that many shares to help dump even more shares.
Correction - last post from March 24th PR.
another reason to not believe HRNF
from the same PR
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.
...........
Well, 2+ billion shares issued since then....Pagnano obviously is not working in the best interest of shareholders since the inception of this ailing company, IMO.
Can you believe anything HRNF spews? NO
This, from April
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....
Who is HRNF's thrid party? Did Pags hook another gullible investor. HRNF got some money from a third party to stay afloat. They only have around $25K in cash....not even enough to make much gum.
They say they have 80K in accounts receivable, but will they ever receive anything? HRNF no longer files audited financials and is diluting at a record pace once again.
Read what HRNF tried to get the bagholders to believe in future posts