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FYI I poo poo on this stock every moment I get because I'm salty about the way management reported on things.
But I will say the scientist in Mexico who ran the tests is a real guy, appears they did legit testing. If the testing was good and bureaucrats are holding the rest of the process up, it is possible it's still in play as Snakey says.
The email was sent to me, it was a conversation we had. I have published before here, can publish again.
It was this one, "HydroPhi Announces Over $1 Million Initial Purchase Order From Energia Vehicular Limpia S.A. de C.V. for Its Client — Rutas Unidas to Install Hydroplant(R) Units on Transit Buses in Mexico City "
He doubled back by email (Slotkin) and claimed that administrative paperwork with Mexico City's head of public transportation was holding this deal up.
You can choose to believe that or not believe it. For me if you announce you have a $1M deal and you do NOT have a deal, it's a lie. It's false and misleading to shareholders to release that type of news and for it to be complete BS.
Furthermore, they also stated in their 10K that no significant purchase orders have been received to date nor do they expect any in the near future. Check it out.
Slotkin is a turd, no news besides financing/dilution since January.
Been wheel spinning and going to the casino with everyone's hard earned cash since then. And even before then based on his past 'ventures'.
Smells foul, foul, foul.
Circling the toilet bowl here I see.
I don't see how they're not on the verge of BK. They're accumulated debt is outrageous, thought they were in a growth phase after their fake PR but that ended up being smoke and mirrors. After this company dissolves I don't see how anyone could hand the keys over to Snakey for a FOURTH failed business. I hope the guy never works again.
Holding at a considerable loss, cost average at $.007. Not averaging down anymore. Will sell for tax loss at the end of the year.
For the longest time I would have sold if the volume was there to do so, but that was a challenge when it was trading >$.007
They must be positioning for bankruptcy.
How did you phrase it, I'm curious?
You should inquire with your broker what can be done as recourse for their false and misleading statements besides taking this as a tax write off. For me this will take two full years to write off.
According to Snakey it's still in play but being held up by the Mexico Dept of Transportation (paperwork) if you believe that.
Also I'm not sure I agree, I'd like to see what the precedent is for reporting a fraudulent purchase order. That means there should be an existence of a legal commercial document indicating types, quantities, and agreed prices for products or services.
Is Hydrophi able to brandish such a document? I'm not sure if they could or couldn't, I'm just asking the question. Because to this point his answer about the government holding up the order seems to me like complete backtracking B.S. unless he can prove that with emails, correspondence.
rms@hydrophi.com
I did email him and he responded about the P/O. Stated they were being held up by bureaucrats abroad. I believe that like I believe in Santa Claus. You either have an agreement or you don't. If you don't, don't report on it to sell shares and then waffle about the circumstances later.
No keep in touch on here, I'd like to gather as much interest of investors that bought around that time period (like us) that lost investments due to the misinformation. If there are enough of us (which I think there could be) we could file suit.
When I have some time I'll have to look into what needs to be done in the States.
Again and I go back to the fact that many of us never would have invested had we known the company would put out patently false and misleading press releases about purchase orders that aren't real.
They're going to have some very serious issues on their hands pretty soon if they don't turn things around and clarify real quick. How about the poor bastards that lost about 99% of their investment if they invested a year ago?
Down 98.4% on the 1 year chart. OUCH Bazzle, very ouch.
Yes there are unlimited shares for sale due to their inability to sell the product. They have to do all this toxic financing to keep operations running. But if they're not building and selling product, what type of 'operations' are they running here? It just looks like their board collects fat checks and in turn does nothing but dilute the share price to keep the lights on.
They lied to the public about moving from a development stage company to a commercialized one with that fraudulent purchase order release in January. And to this point, they're getting away with it and taking everyone's money with them.
It means everyone here is holding at a significant loss and Hydro Phi is going bankrupt?
Silver lining, these criminals managed to get $536.0M in total dollar volume for HPTG since the merger despite the lack of sales. If this is the case, any of us can be a CEO some day given the lack of actual skill involved. That's essentially what Roger has done here. Run this company into the ground and the share price with it.
Always seems like there is an unlimited amount of shares for sale on the ask; no doubt has to be note conversions. The volume JUMPED on this thing as soon as all this additional financing was written. These are probably old notes that are eligible to be converted.
Everyone can't wait to flip their shares.
Very wise. Run and don't look back. I made thousands on this but got caught in the cookie jar on a second go around $.01. This run will be short lived and back in the tank it goes.
http://www.aimhighprofits.com/andale-hydrophi-technologies-group-hptg-has-gas-2014-2
"In Slotkin’s last venture in this industry with Odyne Corp. (ODYC), things didn’t pan out so well as the Company ceased to operate after 2008."
"Another green venture Slotkin got into, Oneworld Energy Inc., was going to become an emerging leader in the design, management and servicing of wind and solar power installations until they filed an assignment of bankruptcy on June 5, 2012."
If it looks like a rat, smells like a rat, it's probably a rat.
http://www.ripoffreport.com/r/HYDROPHI/Atlanta-Georgia/HYDROPHI-TECHNOLOGIES-FRAUD-Atlanta-Georgia-1082791
People will get mad that I posted this and say that the Spanish company was at fault but where there's smoke there is fire.
The only company I can see they've done actual business with filed a scam report against them. Whether or not you want to take them at their word is another thing, but claimed they sold them units that were as useless as a broken microwave.
http://www.investorclaims.com/
Ok let's get it started then.
I'm again sitting here wondering when the inevitable lawsuits will come out. I'll continue to use this forum to gather interest, in this country there are laws for false and misleading statements.
I had dug up some DD earlier about some past companies he's been a leader of that have been halted and/or gone bankrupt. I take responsibility for not reading up on it before I bought. Still, very relevant to what's currently going on with HydroPhi and the non-stop financing to keep their lights on because they can't sell a unit.
They clearly misled investors in January, got a lot of people's buy-in (including myself) and then ghosted never to be seen again. It's not right, and I don't see how investors could have known their claims were false at the time. We can only take them at their word (in this case their press release).
They all have the same going concern snipet in their filings. More pain and dilution coming today, no support from the company to boost investor confidence, no sales, lied about purchase orders. The CEO is a complete piece of shit.
Down a little over $5K myself if that helps you sleep at night. We all know how these pennies are, hopefully the gains outweigh the losses at the end of the year. Last year great, this year garbage. We'll see.
This has total trade $ of $169M since inception. I'd imagine there are losses staggering enough to warrant a class action suit.
We should probably try to act while the company is somewhat solvent. Though I'm sure they owe all the money to IRS and note holders first and foremost before investors.
Well let's all stay in touch on here if that's of interest to investors that got screwed. This is a definite tax write off, but I won't go down quietly without a fight as they blatantly mislead investors back in January.
I'm sure this isn't the first time they've been involved with this. They never would have dug this hole if they didn't report false information. An agreement is not a handshake or an email, if that was the case in Mexico City that's F'ing bullshit.
Curious if there are enough losses here to class action sue these snakes for false and misleading statements about their purchase orders. I'd like to see them brandish the evidence that it was the city government holding up the order.
Sue the snake!
Sell right into the bid morons, letting NITE fill that ridiculous order.
Is this the death rattle?
Thanks for screwing the rest of us after filling your order at 16 instead of slapping the ask with that order, as you can now see the block has increased and the bid offers dropped. I hope you enjoy your shares all the way to $.0011.
This one is DEAD!
Won't be posting here any longer, this is a tax write off. Good luck to all of you, let this serve as a very painful lesson.
Somebody trolling this board (presumably) trying to get filled at 16's. How's about moving that bid up a couple points and removing the block on 18? We're talking about a $200 difference here and if you get filled at 16 all the other bids will drop, and you'll end up at 12 (LOSING $400) in the process. Cmon, play the game.
I know it's a retail buy too because it's CSTI.