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Peter Michaels needs special permission to travel, from his felony probation officer. He also has a court date 8/20 & 8/27.
These are two different court cases. One is a pretty serious criminal case against him, from what I saw on the court docket.
G Money - crooked traders often play almost-worthless stocks like HRNF.
HRNF even pays stock promoters to help the company unload billions of shares. The promoters I've seen disclose that HRNF and "a third party" paid them for stock promotion.
IMO, this is not to far from the days of the classic pump/dump scams run by stock manipulators and organized crime.
HRNF puts out all kinds of lousy, even bogus projections, all while they KNOEW the shatres are under distribution (shares for cash or shares for private placement cash at a steep discount).
KJust read their old SEC filings prior to them getting booted of the OTCBB to the pink sheets. HRNF even admitted there could be regulator or shareholder action for their projections and unregistered share sales.
BadPicks - believe Pagnano at your own peril. All anyone has to do is go back and read past press releases and old SEC filings to see just how poorly he does everything he tries.
He depends on the gullible to buy those shares the company dumps as fast as they can.
You may have noticed the 1:100 reverse split in 2007, the 1:200 reverse split in 2008, and the 1:300 revrerse split earlier this year.
One he reverse splits, he dumps and dumps and dumps billion more shares, and the share price drops accordingly. He has never had and still does not have a viable business model for anything. Pagnano was even putting out press releases to try to make people think the dilution was going to end....it got even worse right after he put out the PR.
I think you should hold until after the next reverse split. The stock price usually drops 90% to 99% within a short time after each reverse split.
has dumped trillions of pre-reverse split-adjusted shares and has no concern for his shareholders. He probably is laughing at anyone dumb enough to buy even one HRNF share.
learning - almost all the trades, since the reverse split have been dilutive share dumps of newly-issued shares from HRNF.
HRNF has dumped over 2 billion shares on the unsuspecting, all while telling them that dilution may not be needed soon....suckered investors once again.
It is the share conversion, plus the paid stock promoters trying to sell the shares HRNF is paying them to help HRNF dump shares in the private placement.
Once converted, these bagholders will be selling , but there is almost no buying interest. That's what the stock promoters are paid to do....help the dilutive shares get dumped by slowing down the stock price decline.
The SEC is watching more scam companies and new SEC/FINRA rules on pump/dumps makes the crooked traders even more nervous.
Then you will be stuck with your common shares, because it will take a few days to be tradable, IMO.
By then the stock price will be $0.0001 on the latest dilution numbers from the Transfer Agent.
Ask the CEO if he filed with deleware to raise the share authorization to 5 billion shares. HRNF is almost at their share authorization limit again.
HRNF - dumping dilutive shares -
almosyt every share traded has been a dilutive share dumped by HRNF as part of the placement/toxic death spiral financing.
mega - all HRNF does is dump shares and fail to disclose info in a timely manner.
Did you see they are almost at their share authorization limit once again this year.
If he told tim that, he was lying, like he does so often to help dump shares on unsupecting bagholders.
Pags seemed to lie when he tried to spew an excuse for why they failed to merge/acquire the food company. He seemed to miss the fact that that company did DD on HRNF and told Pags they wanted nothing to do with HRNF, after seeing he dumps shares and does reverse splits - the business model for this failing company.
MrBigz - HRNF is one of the worst-run companies in the USA
Pagnano owes huge debt and doesn't even pay obligations.
Check out all thew judgment lienns, the $1 million owed to MDSO winning team, and the fact they are almostt flat broke.
HRNF is dumping shares as fast as ignorant investors are willing to buy them.
Looks like HRNF is diluting even faster - huge dumping of new dilutive shares.
They are almost at their share authorizatrion limit of 2.5 billion shares once again. That is up from 35 million shares at the reverse split just months ago.
Another reverse split may be needed in a month or so....2nd time this year.
Not going to get into it with you. The cases (plural) are what they are. You read and commented, so you know how many and what they each involve. Not something a CEO would be proud of, IMO.
Catch, here is the 8/27 case, criminal court.
Case ID Title Location Dept Date Time Case Type Type of Hearing
09HM03796 Michaels, Peter Daniel HJCNB H07 08/27/09 08:30 AM Criminal Pre Trial
catch -the last thing I saw was the continuation from the July date to 8/20 (Case #97D001786). The other case number is 09HM03796. This might be the one with the next appearance scheduled for 8/27.
Case ID Title Location Dept Date Time
97D001786 MICHAELS V MICHAELS LJC L62 08/20/09 08:45 AM
YEP, SOME HEAVY DUMPING
STILL LESS THAN $2k TRADED
Maybe uncertainty prior to the so-called shareholder meeting, court judgment issues, and the 8/20 criminal court date for the CEO?
Carl - Re: Shareholder meeting
Maybe you should let HOP-ON know the Hilton says there is no meeting scheduled. Let them know you are a shareholder, and reserve the right to make them responsible for damages/inconvenience if this meeting is not held. Keep copies of all correspondance and any HOP-ON response.
It appears his next court date is this Thursday, so I think he could make it to the scheduled shareholder meeting on Friday.
IRVINE, CA--(Marketwire - 06/24/09) - Hop-on, Inc. (Pinksheets:HPNN - News) announced today that its 2009 Annual Meeting of Shareholders will be held on Friday, August 21, 2009 at 11:00 a.m. Pacific Time. The meeting will be held at the Hilton, 18800 MacArthur Blvd. Irvine, CA 92612.
Hop-on, Inc. shareholders of record at the close of business on June 15, 2009 are entitled to vote at the Annual Meeting and are invited to attend in person. Shareholders will have an opportunity to vote on the election of the Company's directors.
Carl, PM puts out terrible PR's
For a laugh, shareholders shpould go back and read his press releases. Many look like they were written by a 3rd grader who uses english as a second (but not very proficient) language.
One would think he would employ some high school kid to proof-read his press releases. He may fit right in with the boyz on cell block D, IMO. They also don't like prisoners who face the criminal stuff he appears to be facing. 8/20 court date....will he be able to delay it again?
Wow, HRNF has very little cash at all.
Cash and cash equivalents
$26,437
I noticed, in their liabilities, they fail to mention the hundreds of thousands of dollars in judgment liens, court judjment owed, the $1 million owed to MDSO prize winning team.
I also saw they are still carrying the film production costs as assets, which is allowed by accounting rules. Most that know about this provision actually understand this asset may have to be written-off because of the failure of MDSO to generate anywhere near the revenue projections Mike has been spewing.
No wonder they appeared to allow themselves to get booted off the OTCBB. Not having to do audited financials is probably a good thing for a company that basically lives off of dilutive share issuances....LOL
It will be no bid, soon enough. Then they will likely do a reverse split and dump shares as fast as they can once again.
I wonder if they are getting close to their new 2.5 billion share authorization limit? Only the TA knows for sure.
It looks like almost every share traded is just a new dilutive share issued by the company at steep discounts for cash to stay afloat.
I think PM will do some serious jail time. His lawyer is probably trying to delay the inevitable, because a felony probation violation means his original sentence may have to be served, in full.
Since it is Cali and they already have overcrowding problems, maybe he thinks he can hop-out of this latest criminal charges he is facing.
Could also just be simply pass-through revenue - revenue climed by another company of which HRNF may get a tiny percentage.
May never know, since there will be no audited financials.
Could help HRNF dump shares to get to their 2.5 billion shares authorization limit again, though. Shareholders are the ones that will lose their entire investment.
neptune -the results were simply horrible - much worse than expectations.
Plus, dilution is going up exponentially.
Operating income per share has plummeted to disastrous levels.
Pagnano is now having trouble dumping shares, it appears.
catch - HPNN did claim these orders and reported "sales" in the millions. Maybe they are unwilling to provide the audited financials they promised so many times because they would have to disclose if any of those soc-called "booked" sales actually became actual real revenue.
Maybe you could try reading past PR's over the past few years and their unaudited financials they post occasionally.
it has relavance. If he goes to prison for his latest criminal charges or goes to prison for violation felony probation (PM is currently serving his felony probation sentence), he will be forced to resign immediately. You may also wonder how he will pay his current court judgment obligations. He is not allowed to use company funds for any of the current stuff.
HPNN.PK and HRNF.PK
Both still should be near the top of anyone's "avoid" list, IMO
Pagnano will probably put out fewer emails to his minions to help pump the stock sales. The SEC rule on insider trading puts any investor at serious risk if they act (buy or sell) based on material non-public info that the company "leaks" through emails to "certain" people and/or stock promoters.
...............
Pinksheets warning on companies.....
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.
I see Yahoo mb has deleted the message board for HRNF in its entirety. Could just be a glitch, though. It has been gone since last week. You can still get to it through the backdoor (replace the ticker symbol in any other message board URL with HRNF)
I see Pagnano is strangly silent on the fact that the Golf Channel did not air the MDSO. That Pr string was probably good for several hundred million dilutive shares dumped by HRNF intoi the share pool. No wonder they had to raise the share authorization. They have been diluting at an exponetially-increasing pace, with little disclosure to the markets.
catch, Carl posted the court dates for the CEO of HOP-ON.
It is a bit unbelievable that you can't seem to do enough DD on your own to see that much of what is put out in press releases should make the average investor think that there is a bit of misleading info being put out to help unload shares used to pay for services and/or stock promotion.
I guess many of those that are stuck with shares keep their blinders on instead of being smart investors and taking the loss.
Here is the warning from pinksheets about HOP-ON
One can see this warning when you click on the big red stop sign "NO INFORMATION" when viewing the quote for HOP-ON
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.
moto - HOP-ON has never been in the growth stage.
These pink sheet pump/dump co's only can fool the gullible people for so long, then they become thinly-traded and their stock price keeps dropping.
Theree is even a person or group that posts tiny trades at high prices to artificially inflate the ailing stock price, to make it look like there was buying interest at those high prices.
Anyone doing simple DD can see the crooked manipulators at work printing $5 trades to try to make the price look like it was higher or unchanged.
The only news coming is going to be really bad news, IMO
Sure wouldn't want to be long when this thing gets stuck at no bid, $0.0001 ask. Can PM even pay the stock promoters anymore?
Pino signed financials for Pillay as "president" of PYCT, long after Pino had resigned.
PAychest - not in good standing
Arizona Corporation Commission
07/24/2009 State of Arizona Public Access System 10:29 AM
Corporate Status Inquiry
File Number: -0948960-2
Corp. Name: PAYCHEST, INC.
This Corporation is NOT in Good Standing for the following reasons:
2009 ANNUAL REPORT WAS DUE ON 05/04/2009
Former PYCT president/CEO sentenced to prison
Current CEO Lawson Pillay appointed Pino president of PYCT during 2007, after Pino resigned from the company and after Pillay took over for Cerda, the mystery CEO from Mexico.
from RB message board.....
By: rs4racing
23 Jul 2009, 02:34 PM EDT
Rating: Msg. 45103 of 45103
Jump to msg. #
Prison for Pino - Tax Cheat Pino (former CEO of PYCT) gets 12 months
.....................
Arizona Businessman Gets 12 Months for Failure to File Income Taxes
An Arizona businessman has been sentenced to 12 months in federal prison for failure to file a federal income tax return.
Mario Alexander Pino, 38, a self-employed consultant in Scottsdale, was indicted by a federal grand jury in August 2008 and entered a guilty plea in March 2009 to the crime of willful failure to file his 2003 tax return. Pino was also ordered to serve one year of supervised release upon leaving prison.
Pino admitted that a reasonable estimate of his 2003 income was $602,933 and that his federal income tax liability on that income was approximately $192,244. In addition, Pino admitted as part of his guilty plea that he purposefully did not file his 2003 return by April 15, 2004, and that he knew that he had an obligation to do so. Despite not filing his return, Pino said that he used an unfiled 2003 return as supporting proof of his income in making applications for automobile and mortgage loans in 2004 and 2005.
Didn't the SEC serve Pino while in Mariocopa county jail for being a fugitive from justice?
Pino didn't exactly learn how to spell when he was CEO of this company. I wonder hhow the SEC investigation of MLON/PYCT mentioned in those previous PYCT finacials by Maro/mystery man Cerda are going? Now it appears that Lawson Pillay is pretty much AWOL, IMO.
hades...Not interested in ANY of that kind of responsibility, given HRNF's selective disclosure practices while dumping billions of shares at steep discounts for cash to stay afloat and IHUB's problems and their founder's problems.
I am not assistant-moderator material. Please remove me as assistant as soon as possible.
Thanks, in advance.
cubsfan08 - except my mispelling(change "would" to "wouldn't") in that message should be changed in the following:
The company does not pay its obligations and I wouldn't trust anything they put out, say in those "special" emails to certain shareholders to help the pump, or anything certain friends of Mike post here (even the friend isn't willing to own shares!).
hadesdog - please remove me as assistant. I want nothing to do with this company. I prefer to post my opinions without needing to be objective, as a moderator would need to be.
I also want nothing to do with IHUB, other than posting. A moderator just banned me from the HPNN board for simply posting opinions about their convicted felon CEO's (Peter D. Michaels) newest criminal court legal troubles and upcoming court dates.
The CEO of HRNF has helped to repeatedly destroy almost all shareholder value while posting rosy projections and seemingly hiding behind the SEC safe harbor statements.
The company does not pay its obligations and I would trust anything they put out, say in those "special" emails to certain shareholders to help the pump, or anything certain friends of Mike post here (even the friend isn't willing to own shares!).
His (Pagnano) failing track record speaks for itself. No reason to remain objective, after doing even limited DD on HRNF and its CEO.
Shelly...and others posting about this company - I understand your concern, but when a CEO (HOP-ON) has additional criminal charges against him and has not issued a press release explaining why he will be arraigned, the discussion of the victims (children) appears to me to be on-topic. Criminal charges of any kind against a CEO seem to be completely on-topic.
The CEO of HOP-ON is also already a convicted felon, still serving felony probation.
We will try to abide by your recommendations, but you may want to re-think what you posted and the threats of suspension.
I think the CEO should resign immediately, for multiple reasons.