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Does PYCT even have any cash left? They have only survived from massive dilution and it is likely this is what will continue to keep this thing going a little longer.
Maybe, when the flushaway scheme fails, they will have to invent another business model to let them continue to dilute.
It is obvious that they need a reverse split...probably 1:300 or 1:500, so the stock price can then drop back down to around $0.0002 or so.
The old re-run MDSO, filmed in 2005? LOL
Looks like the GC is desperate for some lousy programming, IMO.
Little revenue for HRNF, obviously. May help HRNF dump more dilutive shares, though, and get a few more bagholders as the stock price declines. Looks like airing will be near the time restrictions on preferred shares are lifted, leading to more dilution of the common shares.
Reverse split is obviously needed
This will allow the stock price to decline 90% or more while PYCT can dilute into any promotional press releases they buy.
If they do a 1:300 reverse split, they will also need to keep the share authorization the same so they can continue to dump dilutive shares to stay afloat.
MDSO is a 2005-filmed re-run with little success in any market. No financials from HRNF means even more uncertainty and likely bad news coming on the evenue front.
With HRNF with less than $2,000 cash the last time they reported, things are looking rather ugly and look to get even worse with the Heathrow distributor debacle unfolding.
HRNF will need a lot more dilution.
Did you notice HRNF didn't disclose the number of shares used to buy Heathrow from the CEO of HRNF?
HRNF is already signaling acquisitions, which will also take billions of dilutive shares. HRNF can easily increase the authorized to 10 billion with the stroke of a pen and the biased (IMO) BOD.
HRNF has only survived through massive dilution it did not disclose to its own shareholders until their shares wrere worth almost nothing.
Looks like they will follow the same path of dilution in 2009, destroying all shareholder value through yearly reverse split of increasing magnitude (1:100 2007, 1:200 2008, 1:300 2009). Probably need another reverse split bry summer.
No, Pagnao is not open and fails disclosure practices
That may be why pinksheets has a huge warning about the company.
just click on the big red stop sign, when looking at the quote for HRNF on pinksheets
This leads to the description of Dark/Defunct companies
the warning is as follows:
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.
He may already be diluting to the max
unfortunately, there are very few buyers.
We all know HRNF purposely avoids disclosure to shareholders (they diluted almost 10 billion without telling their shareholders, and NEVER notifying pinksheets.
He also failed to disclose how many billions of shares were given to Pagnano/Calvi for Heathrow merger and why the other announced merger with stemtronics and the due diligence failed.
What distributor would work with Mike?
Knowing his track record and mu;ltiple failures already and not paying its obligations (just look at all the judgment liens), what company would ever trust HRNF?
howard - HRNF has no contracts, little or no money, and is set for massive dilution once again
They may even need to reverse spliyt later this year as the bid drops to NO BID, $0.0001 ask once again soon.
3respalm - false - does not say no dilution
it says "limiting any future dilution of HRNF shares."
It is limiting it to over 2,000% (35 million to 750 million shares)
and you know HRNF will not have revenue capable of sustaining its costs.
AMA33 - EFUZE not explosive growth
it is a product that is expensive and has a large number of distributors already, each paying $40 to be called distributors. There are a large number of them in Pagnano's condo area , which can be seen in a google search.
I also have zero confidence that Pagnano and Calvi can even run a business. Pagnano has proven he can't make money after years of failure with HRNF company. Just look at his old projections and actually results, which have realized only a percent or two of what he projected in revenue.
Less than $2,000 traded so far today?
Looks like people know Pagnano's PR's all too well.
divide 750 million shares by 35 million
could easily dilute the O/S by 21 times and still not exceed the A/S
May need to increase share authorization soon
Reverse split coming again?
We all know HRNF's history of dilution. They may need a reverse split within months.
Soup - Pagnano hiding disclosure that a lot of shares are now restricted for less than 6 months, then can be converted to common at a 20% discount.
Why would he hide this? Because he is Mike Pagnano. Look at his history of destroying shareholder value.
Next reverse split may be needed by this summer.
HRNF history of non-disclosure
HRNF diluted from 25 million shares to close to 10 billion in just months in 2008......without disclosing this to shareholders.
Looks like the dilution is/will be underway....probably has already begun.
So HRNF has little/no revenue
and still has not put out any finacials, audited or otherwise.
anyone wonder why?
MDSO not on Golf Channel
I wonder if Golf Channel found out that HRNF doesn't pay its obligations/prize money? See all the judgment liens in florida by going to the sunbiz site and searching for judgment liens for WGL Entertainment holdings and World Golf
See also response to Raging Bull poster's email to the golf Channel.
WGL Entertainment Holdings Inc (OT:WEHI)
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By: hadesdog
13 Mar 2009, 06:08 PM EDT
Rating: Msg. 4976 of 4976
Jump to msg. #
email response from GC... MDSO not on schedule
howard - dilution will be massive
The company is almost flat broke, at last report - see financials.
The company is talking about acquisitions - thet can only afford to do this through dilutive shares.
They are likely already diluting more today, as soon is the ink is dry on the fluff press release.
Smart money will be selling on this news
Did you notice the PR hid the fact that there is a huge overhang of temporarily-restricted preferred shares?
HRNF - massive dilution coming?
750 million shares authorized
35 million O/S shares common
Don't forget the huge overhang of preferred shares restricted for less than 6 months and then getting a 20% discount to common upon conversion back
So HRNF is likely going to dilute by 21X (750M / 35M)
and they will probably need to increase the authorized just before the conversion date to make sure they have enough shares authorized for the conversion
With little or no revenue likely, things are looking pretty bleak.
HRNF owes tons of money in judgment liens, plus already owes $1 million to the winning team of MDSO
Howard - they saw all the unpaid prize money and judgment liens that HRNF has.
GC can't risk showing something from a company that doesn't pay prize money.
that's why it is not on their schedule, IMO.
Florida attorney general
The Florida attorney general, when HRNF settled the case agianst it, required HRNF to place any prize money in escrow before advertising ANY event.
Apparently the company did not do this. The Florida AG was Charlie Christ. Apparently even florida doesn't go after violators all that often....like the SEC.
AJAB - I wonder why shareholders aren't asking Pagnano and posting his response......
1. Why hasn't the company satisfied the multitude of judgment liens against the company in Florida?
2. Why hasn't the company paid the money owed to past prize winners?
3.Why have't they paid the $1,000,000 now owed to the MDSO winning team (owed 30 days after final episode per the company's previous SEC filings)?
4.Why are they unable to provide financials or timely disclosure?
So mike may mean it will be finalized that it WON'T be aired on the GC any time?
Even if he PR's that there is an agreement, it will never be aired on the GC. It is of poor quality and was filmed in 2005.
If mikie is talking about a new production, it won't happen. The comapany hasn't the money to do another MDSO failure like the first one, IMO.
Birdie- dilution is about to explode. Mikie has taken shareholders for a ride once again, and it is not a pleasant one.
Hopefully some may be able to sell before it drops to the $0.002 and $0.0001 level again.
I see HRNF owes judgment liens (can be found at Florida's Sunbiz site) and $1 million MDSO prize money that total more than 15 times the current market cap.
Looks like the company is in worse shape that shareholders ever thought.
Can't rely on Pagnano for the O/S info at all, IMO.
The 2008 1:200 reverse split left 25 million shares outsatanding.
Before the latest yearly reverse split, there were comments by Pags on the O/S being around 2 billion. Shortly after that, the TA revealed that the O/S was over 5 billion. Shortly after that it was close to 9.6 billion shares.
Apparently the ink was hardly dry on the 2 billion O/S PR and the O/S count was climbing exponentially and Pagnano did not disclose this.....on purpose? I think so.
In Florida, the judgment lienholders can go after companies' assets. Does HRNF actually have anything worth going after?
They will have to file unaudited financials soon, or risk what can happen to co's that don't issue them in a timely manner.
They have been suspending more and more co's that don't file in a timely manner.
Ouch, that signals massive dilution coming ,IMO. No wonder the stock price is tanking. Remeber how fast they diluted after the last reverse split?
Yep, trying to slow down the exodus (dumping of shares).
This is the first time in months that anyone has had the ability to sell any meaningful volume of shares, including dilutive shares. Prior to the reverse split, the company was seeing mostly "NO BID" conditions.
I'm guessing a "lettrer of intent" Pr will be put out soon to try to slow the selling again. Probably some revenue projection fluff talking about advertising potential to try to keep more from dumping, too.
It may even be re-hashed from previous press releases, since this is what they often try.
Next, I'm guessing there will be another private placement needed or toxic death spiral convertible financing needed, rekindling dilution concerns. Watch out for paper filings with the SEC for private placement, like last time. No details will be easily available, beause it won't be in electronic format, IMO....like last time.
soup let me put it this way...
You can ignore the market cap issue because of the preferred shares that only wait 6 months for conversion back and the obvious dilution already evident at HRNF. Plus, they get a 20% discount to the common when converted, which will force the price of the common down even more.
around 10 billion shares of dilution in just months, up from 25 million shares at the 2008 reverse split is a big problem. (all pre- 1:300 reverse split in 2009 numbers).
If you still are hyping market cap. doesn't HRNF already owe cwell over 15X your estimated market cap in lien judgments against the company, prize money, and the $1 million MDSO money HRNF admits it already owes to the winning team?
So no one converted their shares to preferred?
Oh my!
Or did Pagnano really issue another 5 billon dilutive shares just before the reverse split?
Howard - not hardly. Pagnano is known for trying to get info out in the form of PR's and even telling certain shareholders to tell others (based on past messages on message boards claiming the company gave permission to "spread the info") to help slow down the decline in the stock price. Soup is obviously trying to help all he can. Anyone concerned should definately report the insider info, IMO.
This is not unlike the fax and email spamming scams that the SEC occasionally gets enough courage to go after to set an example for white collar crooks everywhere.
Unfortiunately, the SEC has let those scam run, even after people report them. It may take a few more to file complaints before they refer it to FINRA or take action themselves.
It doesn't help that the company hasn't filed for so long. I've seen others get trading suspended for not providing adequate disclosure.
How to file a tip or complaint with the SEC
SEC Center for Complaints and Enforcement Tips
Through this page you can file a complaint or provide us with tips on potential securities law violations. We welcome hearing from you because your information may alert us to a bad broker or firm, an unfair practice in the securities industry that needs to be changed, or the latest fraud.
http://www.sec.gov/complaint.shtml
Refer to post #16229 on the IHUB HRNF message board, IMO
HRNF down almost 43% today - and selling has hardly even begun
Just wait 'till more people are allowed to dump their shares.
At $0.002 right now, HRNF is already down over 93% from the pre-split $0.0001 price.
It is gonna drop a lot lower in the coming weeks on dilution concerns.
It would have to go up 15X the current price to equal the 3 cents it could have been at on the day of the reverse split!
woogie - Mike sold most a huge discount to the average trading price. Did you read the private placement and toxic death spiral financing deals? Any wonder why Pagnano made the last "private placement" deal a paper filing that can't be read unless you go to the SEC offices and read it?
You may have noticed that most shares were selling for between $0.00000 and $0.0001 prior to the reverse split. Most of the time there was a NO BID condition.
This will happen in a few weeks when HRNF is once again trading or no bid at $0.0001.
Looks like HPNN may drop under $0.001
Almost no buying interest, and the only thing propping it up is tiny $50, $15, $12 trades some days at ridiculously-high prices like today's trades.
PYCT - not even seeing a bid anymore
Almost every time I look at my brokerage's quote, PYCT is sitting at no bid.
No wonder they put money into issuing a fluff press release about no reverse split.
It looks like they will need a reverse split within weeks!
And now we see there are no shorts and the audit indicated there are also no naked shorts in PYCT.
Looks like HRNF is diluting as fast as gullible people buy the shares. They need cash BAD, as they are almost flat broke...as their last financial report attests.
howard, he is doing it to you all over again, isn't he?
It is amazing people trust people that repeatedly put out stuff that most individuals recognize as simply BS. I guess that's why the SEC and pinksheets warn about companies like this one.
Pagnano will be laughing all the way to the bank, as he only paid $40 for the EXFUZE distributorship, along with the hundreds or thousands of others in this MLM scheme. HRNF will sell little or nothing, but keep dumping dilutive shares by the billions until the next reverse split (HRNF won't tell you they are dumping billion of shares, though, just like in 2008).
There were 25 million shares outstanding after the last reverse split in 2008. The company dumped almost 10 billion shares in just months in 2008. Once people found out (the company would not disclose this), there was NO BID.