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Paid stock promoters and/or finaceers are trying to get their money back. If they get shares at a 30% or higher discount, they have a limited time until investors find out that hundreds of millions of shares have just been issued. If this is found out by longs, then the race is on to sell and the stock price tanks, leaving the finaceers with a loss and meaning additional financing will take a mauch larger number of shares at lower PPS to get the same dollar of financing.
This is why finacing for these stinky pinkies often is called toxic death spiral financing. The lower the PPS, the more shares it takes (at a steep discount as well) to get the company the same dollar.
That may be why Pagnano is paying stock promoters and issuing tons of fluff PR's. He is trying to slow down the stock price decline with his fluff. He didn't count on people doing DD and providing disclosure he should be doing, through calls to the transfer agent asking about the outstanding share count.
Pinksheets warns already about HRNF's disclosure practices. Many gullible investors are too greedy to check Mike Pagnano's past projections and neglect to understand that Pagnano has a reason to avoid giving timely information to shareholders.
OS=935,623,915? That means almost every single share traded since the reverse split is a dilutive share issued by the company.
Mike is wrong on revenue and dilution. He is assuming the PPS will stay near where it is now. Once investors see he doubled the share authorization and plans to dump close to 1 billion more shares soon, the PPS will drop to no bid, $0.0001 ask.
Just look at his past revenue projections. He achieved only a percent or less of the projected revenues since inception.
Same problem, different failed business model, IMO.
Beware of anything mike puts out in fluff PR's and emails trying to keep investors from dumping until the price tanks lower.
CEO is probably laughing at latest victims (investors in HRNF). Bernie Madoff would be proud.
Dilution like this company has never seen before, and the dilution rate is increasing exponentially once again.
Did I mention it will take close to 5 billion shares to satisfy the private placement they announced.
Current shareholders are seeing their shareholder value destroyed once again before their very eyes (without disclosure that HRNF is doing it to them).
Hopefully the SEC will step-in to protect investors, since HRNF has not issued financials or adequate disclosure to investors, IMO.
Outstanding share count at 755,623,915
No wonder pagnano had to double the share authorization....so he could dilute at a record pace.
So much for his dilution can end soon comments!
Most being dumped at $0.004 and $0.003 now
Selling pressure increasing.
Huge warning about HRNF at pinksheets dot com
Indicates NO INFORMATION and SPECIAL WARNING about companies that choose to avoid disclosure.
Plus, with well over 500 million outstanding shares
dilution has risen from:
Outstanding Shares
38,346,013 as of Mar 23, 2009
Authorized Shares
750,000,000 as of Mar 23, 2009
Number of Share Holders of Record
35 as of Mar 23, 2009
HRNF claims it has 138 distributors nationwide. LOL
Sure it does.....LOL
Heathrow Natural Food & Beverage, Inc., is an independent national distributor of natural food products such as Exfuze, a very popular botanical nutritional beverage and the Heathrow Natural line of Super Food Products. HNFB is based in Florida and generates revenue through online and call center sales as well as over 138 distributors nationwide. HNFB also owns WGL Entertainment, the producer of the WGL Million Dollar Shootout reality television series. For more information, visit
as many as the bagholders will allow before it goes to NO BID, just like after the 2007 and 2008 reverse splits.
$1,000,000 private placement at a 30% or more discount to the trading price means many more shares will need to be issued than are currently authorized. Billions and billions more dilutive shares.
Looks like Pagnano did it to current shareholders once again. Get them to believe BS and then keep diluting like the company was going out of business.
Doubtful they will ever have any meaningful revenue.
Looks like HRNF is diluting even faster
Trying to dump as many shares as possiblebefore shareholders find out they have just doubled the share authorization in a delaware filing. DILUTION nightmare is getting worse.
charts do not apply to non-reporting stock where almost every share traded is a dilutive share issued to try to stay afloat s little longer.
You should know that, being an admitted paid stock promoter and apparent scam supporter.
Treading at 52 week low. Could see $0.0001 by next week on dilution and no revenue woes.
All the liens in florida against the company is also a big concern.
The company obviuously doesn't have any cash to pay their obligations. Note: They have almost no cash left, at last report.
52wk Low/Date
0.0004 5/5/09
HRNF PRICE TARGET = NO BID, $0.0001 ASK.
THATS MY NEW PRICE TARGET FOR THE NEXT 60 DAY TIME PERIOD.
HRNF may need a reverse split soon, too.
sharkerzz - chartists are not calling this any bottom.
Why do you post false info here, especially when you disclose you are paid by Pagnano's company to help promote this? You are held to a different set of rules when paid to pump.
Even you dshould know that almost every share traded is a dilutive share issued by the company for serfvices, promotion, or cash to stay afloat. Technicals and charting do NOT APPLY TO SOMETHING LIKE THIS.
HRNF - no bottom in sight
Most shareholders are not even aware that Pagnano has been diluting like he is trying to get it to $0.001 in record time once again.
HRNF preparing for massive dilution once again
HRNF just increase the share authorization, doubling it to 1.5 billion shares.
The dilution nightmare for longs is just getting started.
scal - Pagnano was hoping no one would find out he just doubled the share authorization and has massive diltion in the works once again.
This should soon be at NO BID, $0.0001 ask soon.
The HRNF will need a reverse split like earlier this year.
TAKI - remember the "dilution not needed soon" comment from the CEO.
Here is the excerpt in Pagnano's own words (lies?)....
"and not require the further dilution of shares to pay down debt."
and
"convertible debt which causes tremendous dilution will not be necessary"
Seems to me he forgets about what he says almost as soon as he pays the approx. $100 cost to put out a fluff press release.
no, garyev - just pump/dump type press rleases, IMO
Massive dilution is likely and the company still can provide the audited finacials it has been promising for years and years.
Check Peter Michaels on the list of convicted felons and see what he was convicted for:
Then you know why the gambling thing won't work at all.
HOP-ON listed as "in default"
By: rs4racing
04 May 2009, 02:26 PM EDT
Rating: Msg. 74629 of 74629
Jump to msg. #
News: HOP-ON goes into default
From Nevada Secretary Of State website:
Business Entity Search
Search by Entity Name: Entity Number: Officer Name: Registered Agent Name:
Include phonetic matches
Entity Name Entity Number Status Type
HOP-ON, INC. C2878-1993 Default Domestic Corporation
HOP-ON WIRELESS, INC. C10085-2001 Revoked Domestic Corporation
Funny Pagnano using military angle...LOL
He tried that before and failed miserably. Doubtfull HRNF will have much of any real revenue.
Beware:
Here is a past PR projecting revenue. Look at the filings after that. NO REVENUE
WGLE WGL Entertainment Holdings, Inc. Projects Revenue Stream
Market Wire - October 30, 2006 7:08 AM (EDT)
ORLANDO, FL -- (MARKET WIRE) -- Oct 30, 2006 -- WGL Entertainment Holdings, Inc. (OTCBB: WGLE) announced today that it expects the WGL Million Dollar Shootout (MDSO) to produce over 12 million dollars in revenue during its first airing season. This includes twelve international markets and the United States and Canada. Subsequent seasons will push the brand revenue to an estimated thirty million dollars over the next two years
They will need to increase authorized shares to 5 billion soon.
Remember, there were around 38 million shares right at reverse split time. Pagnano has been diluting even more drastically than any other reverse split (2007, 2008). This thing will be at no bid, $0.0001 soon.
Too bad people didn't just short the stuff shaker tries to proomote. Seems like a good bet, especially with his lack of talent and knowledge, IMO.
Will the promoters discuss gum safety concerns?
Heath risks of Acai gum. I thought another company developed the gum and HRNF was just paying the same company that makes similar gum for other co's?
I agree about some pinksheet stocks being decent.....some.
These often have little chance of getting financing through traditional means and can sell shares and dilute to get money they need to advance their business plan. Some fail, some do well enough to eventually get listed on the OTCBB or Nasdaq.
Many, however, can't seem to admit when they have failed and keep doing the reverse split thing and change their name and ticker often, hoping the gullible will be conned by their bogus revenue projections and paid stock promoters.
Keep up the good work. Your comments about checking past press releases and filings and comparing them with what actually happened (and in most cases did not happen) may have helped more than one investor avoid investing money in companies like this one.
hadesdog - the SEC/FINRA get money from EVERY trade, yet they seem to do little or nothing about most pink sheet scams.
This to me, is like taxation without representation.
When we found out that Pagnano was buying/merging with a company he already was listed in Florida as an owner of and was doing due diligence (Heathrow), I wondered why he did not disclose this conflict of interest.
I considerd asking the SEC/FINRA if this is legal. I still have NEVER seen any disclosure of any kind indicating that Pags and Calvi owned Heathrow prior to WEHI buying their company. Now I am really wondering about that person that posted about Pags approaching his dad about Pags telling him "when" to buy and sell. Was this a ponzi scheme of a different kind. Was it some kind of fraud.....telling friends when to buy to help others dump their dilutive shares? Would those friends lose all their investment like most everyone that has invested in PAGNANO'S company?
a big Zero on revenue for HRNF for all those time periods.
That is far different from what HRNF projected....LOL
PERIOD ENDING 31-Mar-07 31-Dec-06 30-Sep-06 30-Jun-06
Total Revenue - - - -
Cost of Revenue - - - -
May have to raise authorized shares to the billions.
Just look at HRNF's filing. $1,000,000 in shares
Just how many shares is that at $0.0003 or less? remember, the placement probably includes a steep discount to avg. trading price and the investors can probably sell immediately to lock-in their profit.
This could easily drive HRNF to $0.0001 and add 3 billion or more shares to the O/S pool. Dilution......yep!
Massive dilution coming....
No wonder Pags tried to get his loyal bagholders to spread buyback news to help disguise the massive dilution.
Maybe they are buying a few shares....but the dilution could be at a 15X greater rate and appears to be increasing exponentially per info from the TA on OS count.
Done? Nonesense. You may be forgetting the PR about the media blitz. They will need to keep doing non-stop press releases and keep paying these slimy stock promoters to help them dump billions more dilutive shares.
The stock price may drop significantly, but the hype and bogus projections by some will continue until long after HRNF gets to the NO BID, $0.0001 ask next month.
Then they will reverse split, and dilute it into the ground all over again.
Remember this from a Golf prize winner
Posted by Love the Market on May 26, 2004 22:28:
I'm sure you mean THIS. It's been posted on threads everywhere... I had a bunch of friends with this last year - hope they're all out......
From the UVCL thread on RB:
Guys I dont know if you have heard of WGFL (The World Golf League) but they had their big tourney in Scottsdale AZ this last week. Read this...its hilarious stuff...LoL
________________
THE FIASCO (condensed)
PART 1 My report on the WGL World Championships all of this of course is my opinion based on the fact that I was actually at the event.. First and foremost all of you who have seen me post on this board since the company has gone public know that I have been a huge supporter of the company and mostly the concept. I have listened to many people bash the company and the CEO and always defended them. I have always acknowledged that there have been problems and obstacles to overcome for the WGL to succeed and fully believed that they would do so. That being said I will now tell you what happened this past weekend which has changed my mind FOREVER.
PART 2 I am sure I will forget some of the details as I am so angry and frankly pissed off it is hard to even type this.
First of all anyone going to the website will see that the prize pool was supposed to be 50k with NO disclaimer that it could change. Well first problem of the weekend is when everyone gets there after spending close to 1000 dollars on airfare and accommodations and rental cars we find out that the prize pool has not only been cut down to 25k but also only the top 3 teams will be paid. One of our teammates and a guy from another team was told it was changed so that everyone on the team would receive the prize amount and it would not be split 4 ways. (not true of course) Then we find out that the team matchups that were supposed to be random have been set up so that certain teams only have to play against inside people (insiders to the company) and given a very unfair advantage. Long story short on this point is that on the final day with the competition still in the air the celebrity group of Lawrence Taylor and Ricky Jackson somehow get paired against Mike Pagnano and his son. So needing to sweep all of there matches surprise surprise they did and won the tourney not to mention that they were the last group to come in and post there scores after one of Mikes buddies went out and told him what the standing were. To prove this point it was said by Mike P to one of the alternates that had to fill in for someone who did not show that not to worry about who his teammates are as they don’t have a chance to win anyway as there are teams that are already planned to win. This is a direct quote by the way.
PART 3 We, about 15 competitors were approached after the final round by a guy so drunk he could barely stand and claiming to be a new director with the company and said to myself and others many times over the week that this was all for fun and what a great deal it was anyway just to get to play 3 rounds of golf as if this was some kind of excuse to change all the rules/pairings/money. And we should be grateful and so on. Well first of all this is by no means true. We could have stayed home and played three rounds of golf with our friends for free. The most disturbing part of the is that we were not informed before arriving for the event that the prize pool was cut in half. Otherwise I myself would never have gone with such a slim chance of winning anything. This was also the opinion of many others. Not to mention the fact that First place was so blatantly set up. The whole concept of this league is to feel like the pros and have a legitimate shot at winning money. Everytime it ends up that you never even had a chance before you got on the plane. Needless to say there was much chatter from day one until the end regarding the scam that this whole thing turned out to be. When I say much chatter I mean that everyone that was not a close friend of the CEO was boiling and there were conversation before after and during the rounds going on the whole time.
Now to the good part. My team actually came in third place which I am sure was a big shock to Mike, in my opinion he had 3 teams he had planned on winning and we upset his story book ending. So anyway we got to the banquet and had a nice meal and then the fun started. Mike got up in front of the cameras and proceeded to tell some fairy tale of wonderful event taking place that not to many people in the audience were aware of. Most of us were looking around at each other in awe as the events he described were not even close to what was reality, anyway he kept going on looking directly into the camera as if everyone else in the audience were just props. Then it comes time to hand out the awards. Our team was called first and we went up to shake hands and smile while holding our big check of $2500 to be split 4 ways (supposed to be $7500) then things got crazy.
PART 4 after accepting our check we walked off the podium only to see that one of our teammates had taken the microphone and began to speak. What he had to say was unbelievable. He looked right in the camera and said what a pleasure it was to play and meet such nice people and that the concept was great but unfortunately the whole thing was a scam. He continued by calling Mike a few choice names and expressing his aggravation at the total lack of integrity of the event and its organizers. This went on surpisingly for a few minutes before Mike grabbed the microphone and tried to push him off the stage. The guy went to go back to the table and Mike followed him and screamed for security to remove him. Then Mike made a beeline right for me screaming to me and asking if I felt the same way and blaming me for all of this. He tried to say I had set it all up. Well as powerful as I would like to think I am I had nothing to do with it. (That is not to say I was not involved in numerous conversations with more than half the field where we were all expressing our concerns) Well I agreed and said I thought the whole thing was a scam also. He wanted me to leave and I said I would not until I got my money. He continued screaming at me while my wife and teammates and there wives all sat there in shock. Then Mikes wife was next to me pinching my arm and demanding that I leave. I told her to get her hands off of me and then Mike tried to attack me. Needless to say I had enough at this point and stood up to confront him only to be attacked by Lawrence Taylor and the other Friends of Mike (all football size guys) I was thrown through the banquet doors by LT into the hall and then pinned up against the wall by my neck and arms by 5 guys. Then the coward Mike hit me in the back of my head while I was being held by 5 guys. This went on for a few minutes back and forth before things were broken up. I must say that my wife was impressed it took so many to hold me down. I did manage to throw the one guy holding me by the neck to the side finally which was pretty impressive since he weighed about 300 and I am about 175 but I was pissed and being from a tough Italian neighborhood in boston I have had my fair share of bar room brawls. Hahaha. I of course was enraged and wanted a piece of this coward who would not come near me unless his entourage was in front of him. I can only say at this point that I am absolutely beside myself that this could happen. He kept saying that we were all invited guests and we should just be happy to be there. Well that is not true. We are paying members and investors some of whom are owed large sums of money still and continued to support the WGL. We are all entitled to our opinion and should not be attacked for saying it. What our teammate did was not done in the best way but it was not surpising and been coming for a couple of years. If Mike wants to play golf with his friends and give them money that is one thing but he has no right to steal and decieve others in doing so.
PART 5 At this point obviously I am done with this league and company and will do what I can to make sure that we get the total prize money we were told was being awarded. You can be sure that the FL AG will be made fully aware of all of this as well. Not just by me but by many that were there. I apologize to all the longs on this board as this not what I wanted to come back with. I know we all had high hopes. I can also assure you I will be selling all my shares ASAP and taking any and all legal action I am afforded under the law.
PART6 As you can see from the pictures that after our 3rd place team pic there is only one guy holding the check for second and the first place team which are all of Mikes friends were the only few left in the room. Notice by the way that LT is not in the pic (the big guy is Ricky Jackson)as he was outside when the police came keeping his distance. Well I am done I don’t care what any of you bashers have to say as it is and always will be speculation on your part whether it is right of wrong. I have always told the truth on this board and wont stop now. When I say the truth I mean I was actually there and not just giving heresay. I was wrong in thinking this company would learn its lessons and improve going forward. As an ex pro athlete myself I am saddened that the opportunity for such a great competition is being destroyed. It was never about the money but the chance to compete and feel like a pro. I can only hope that someone else picks up on this concept and runs it the right way. Well at this point I want to thank my teammates for a great week and special thanks to gambling man (one of my teammates), Greg and his wife and to my wife. And to Karbo and his Ohio team thanks for the great match on Saturday you are all a great bunch of guys and true gentleman of the game. I also want to thank some of Mikes friends that came up to me and apologized for the despicable behavior and treatment I had received, that was a classy thing to do. Oh yeah by the way none of the other celebrities such as Wayne Gretzky were there as stated in previous press release. To all the rest of you good luck……………player
- - - - -
Remember these projections from Pagnano?
Look back at SEC filings from their 10Q's, etc, and you will see that their "booked" sales appeared to be cpompletely bogus, as far as actual revenue goes.....
ORLANDO, Fla., Nov 09, 2004 (PRIMEZONE via COMTEX) --
The World Golf League, Inc. (OTCBB:WGFL) announced today that it has closed another wholesale membership contract worth $3,000,000 with Upwon, LLC of Orlando, Florida. The WGL will deliver 60,000 memberships over the next six months to be distributed by Upwon, LLC to the Leisure Cruise Industry.
"This represents another major milestone for the WGL wholesale membership program with the introduction of the WGL concept into the Leisure Cruise Industry, which represents millions of potential customers for The WGL Inc.," said Mike Pagnano, CEO of The WGL, Inc. The WGL, Inc. has booked $12,500,000 in wholesale membership sales over the past three months and has raised its expectations for 2005 to 300,000 wholesale memberships and $15,000,000 in sales.
HRNF won't get any contract with the military.
You need to understand military procurement to see why.
also:
They can't let soldiers have something with as many health risks and warning as Acai go to our brave soldiers.
Not many know about Pag's new massive dilution plans.
With this registration becoming effective, the PPS may even drop to $0.0001.
This would mean, for $1,000,000 in that registration at a 30% discount to $0.0001:
there would be the need for $1,000,000/$0.0001/0.70 = 14.285 billion more shares issued.
Moderator - please put post #22487 as Sticky Note
This new offering of discounted shares is very important for shareholders who believe Pagnano's (dilution will end soon PR) to see what Pagnano is really planning to do to current shareholders - and it isn't pretty.
Yep, Mike's bogus revenue projections have been proven to be bogus time and time again.
He even warned, in a past SEC filing, that regulators or shareholders could take action for the company's projections.
Huge dilution planned with that registration
$1,000,000 at $0.0003 means
over 3.3 billion shares-worth of dilution.
Looks like Pagnano will need to increase the share authorization to 5 or 10 billion shortly.
Technicals- HRNF poised for huge tankage
and looks like dilution is ramping up. HRNF may be at its limit of 750 million shares soon, and the PSS is headed toward $0.0001.
He doesn't have to ever make money
He can just keep dilution and then do reverse splits to run the latest group of shareholders into the ground, like he has become so good at.
If there was an award for destruction of shareholder value, Mike Pagnano would be in the running for the top prize.
How is HTRNF paying for the gum? Dilution?
Looks like massive dilution is resuming, except not nearly as many suckers are likely to buy at these super-high prices.