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More shares being dumped and no news.
Not sure why posters are concerned whether or not he was a director. Bottom line is that he has held onto his position. Frankly, I'd rather see Baer and other (former) insiders holding their positions.
Interesting that the schedule 13g lists shared power to vote or to direct the vote of: 611,287 shares or the approximate number of shares dumped onto the market on 2/8/2012. The form was filed for year ending 12/31/2011.
Appears this long time investor still holds a substantial amount of shares:
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001078782-12-000378%2Etxt&FilePath=%5C2012%5C02%5C13%5C&CoName=HEALTH+ENHANCEMENT+PRODUCTS+INC&FormType=SC+13G%2FA&RcvdDate=2%2F13%2F2012&pdf=
The Reporting Person’s is the beneficial owner of 5,256,287shares , representing 5.3% of the
class of securities.
The Reporting Person has:
(i)
sole power to vote or to direct the vote of: 4,645,000 shares
(ii)
shared power to vote or to direct the vote of: 611,287 shares
(iii)
sole power to dispose or to direct the disposition of: 4,645,000 shares
(iv)
shared power to dispose or to direct the disposition of: 611,287 shares
At 5 weeks I would expect, from a company with a CEO earning over 200k base a year, a website not created in a junior high tech class. Far superior stock website templates can be purchased for a few hundred dollars. I understand a website isn't going to propel the stock, but who wouldn't want to present a more professional image, especially Dahl is out meeting with potential clients.
Amigo- I agree there is opportunity here; otherwise I wouldn't invest. However, as Liquid wrote, a monthly summary isn't unreasonable given past experiences with WSU and Oxford. I don't expect them to share proprietary information or daily detailed updates. A monthly summary would suffice.
Amigo- I miskeyed. Inquiries have been sent to HEPI regarding Battelle. Based on the conference call, I expected better communication with shareholders. Why not provide shareholders with a monthly progress report on testing? Simply post an update on the website. Given the delays and lack of communication in the past, regular updates are important.
Inquiries sent to Battelle about when investors will receive a progress report on testing; no response. Silence has not been a promising sign in the past from HEPI.
We'll know within the next couple of weeks if anything significant is happening at Battelle. Over a month since the conference call and no progress on the business development/research front has been announced. Also no indication new board members have been installed.
Clearly HEPI has a troubled past and likely everyone on this board is underwater in the stock. I recall a discussion about why warrants were not exercised. Seems there are a select few in the know and the rest fly blind, which is why HEPI is a lottery ticket, albeit one where the drawing of numbers is frequently postponed or manipulated.
Not sure why everyone sees this as the end. It appears one seller dumped several hundred thousand shares. No widespread selling. I would expect Dahl however to follow through on his promise to improve communication. We're going on a month since the conference call and aside from a poorly constructed website, nothing.
HEPI could use more promoters!
Since investors are putting a lot of faith in Dahl's promises, I looked online to see if I could find anything. Nothing from his consulting company, but I did find this blog:
http://www.producerorparasite.com/about.php
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Appears he's way out there in Glenn Beck world. HEPI is looking more like a parasite than a producer!
Willy, No idea. It certainly wasn't an orderly, planned sale. One never knows the motivation, but fact the stock was driven down to .14 indicates there is very little buy interest out there, and probably won't be until results are announced and deals signed.
Kmike-One would think Dahl would put out a PR updating shareholders on the testing after yesterdays sell off.
Stating the obvious, but someone wanted out.
And now we know why warrants were priced at .12.
I see now why it has been so quiet.
I'd like to see an update on testing prior to EOM; even better if it's posted on a revamped website.
Good find Amigo. Knowledgeable and experienced biotech entities/people seem to be firmly behind HEPI's current business plan. Getting out of the MLM game might have short term negative financial implications, but overall is for the best in terms of rebuilding (or maybe building) HEPI's credibility.
Hopefully we'll see an update on the progress at Battelle soon.
amigo- would another patent need to be filed once class of compound is identified?
amigo- would another patent need to be filed once class of compound is identified?
Couldn't care less about the website. Show me the science.
Also glad to hear Joe Marsh on the call. Big investors have confidence Battelle will produce.
Also, if you listened the call, you know Andrew has done his homework on the research and science. Listening to the call, you would think he is a scientist. Obviously he was using notes but during the discussion on the science he did not hesitate and became much more animated.
Andrew made a great point. Why spend 100k to generate 10k in revenue? Focus on R&D and licensing, which will generate revenue with stable cash flow and nice margins. Let well established food and dietary companies handle the manufacturing.
Not a bad call. It would have been nice if they had the website up by today. Seems they have a decent plan and are executing. I assume the sellers were expecting more, faster. As long as progress is made and documented, Dahl should be able to attract new money to the stock.
I'm not concerned about HEPI's liability to Xooma. Wasn't there an agreement whereby Xooma would produce KX and pay HEPI a royalty if HEPI couldn't deliver enough product? HEPI would receive royalties without incurring production costs.
amigo-I agree probably nothing earth shattering will be announced. However, he must be confident investors will react positively to what is said. Otherwise, why take questions? I would expect at the very least an update on the testing that was announced in November. We've seen the stock climb with the announcement Dahl is in charge. I imagine he is also going to actively court new investors, hence the announcement there will be regular calls/PRs and an updated website. This will only increase interest and eventually buyers. No reason to suddenly begin an effort to communication with investors unless you have/anticipate having good news to disseminate.
willy, do you think Dahl would hold a conference call and take questions if they did not have news or a defined timeframe? If the call doesn't go well, I agree there is little reason to have confidence in the company. I just don't see why they would hold a call and accept questions if the outlook was poor.
Willy- One significant find at Battelle will drive the stock multiples above its current level. You don't the stock will rise beyond the .20s until the company generates a net profit?
Bottling KX and selling it at a loss was a distraction from the R&D, which has significantly more potential. Now management can focus solely on R&D, and HEPI has moved forward in this arena by protecting its IP by retaining a top IP law firm, has filed for and been issued patents as research progresses, and established a relationship with one of the top R&D labs in the world.
Also, investors have been willing to lend it millions with the only collateral being its IP. Obviously they intend to be paid or see value in the IP in the event of a default.
The strategic plan authored by Dahl has been around for a couple of years. I assume he has been working to establish relationships with food additive/pharma and is waiting for the research to come through in order to pull the trigger.
amigo-couldn't have said it better. Now let's close above .30 tomorrow.
Let's hope with new leadership HEPI is out of the MLM scam business and begins dealing, and generating a healthy profit, with reputable nutraceutical/pharma companies. Be nice if it hits above a .30 close on FRI.
Amigo-Based on the financials it looks like HEPI LOSES money manufacturing KX.Getting out of MLM probably better for the company's reputation when they go to reputable distributors/pharma.
"we are only talking $30-$50k per qtr"
Conference call is a great sign. Not going to take questions unless good news is announced. When was the last time HEPI held an open investor conference call? It appears Xooma put little effort into marketing KX and I do not see this as a great loss. Someone finally realized direct selling the product never generated meaningful revenue.
Does anyone know if there are any major holders of HEPI left? With no independent directors, I'm curious if there are any major holders remaining that would attempt to stop Dahl and the CFO from defaulting on the HEP Investments loan, thereby allowing that group to take the company's assets (really only the patents at this point). I assume Dahl is close to HEP Investors and they likely would place him back in the CEO role and compensate him for any losses he experienced as a result of the default, assuming he holds a meaningful amount of stock. Just looking at the risks/benefits of buying more stock at this point. Assuming HEPI has stopped production of PAZ, and given the departure of the independent directors, they are either winding things down or preparing to launch with news that Battelle has made a discovery. The chart seems to support the former.
From Xooma:
We are still having an issue with Kardiaxyme. We keep being told that it’s just about to happen. We are working very hard to get resolution here and I don’t think anyone is happy with the situation.
I figured the new office was connected with Dahl. I thought he would have a permanent location for his consulting business though. Can we also assume the new facility in AZ is not going to open? If that's the case, I'm led to believe there is enough confidence in Battelle's research to dismantle the company's only revenue stream, not that it contributed much.
Bottom line, we shouldn't need to speculate like this. Company should issue a PR tomorrow explaining the change in BOD, move in corporate headquarters, update on research (it's been over a month), etc.
The address of the registrant did change to 7 West Square Lake Road
Bloomfield Hills, MI 48302. This address is a "virtual office", which probably doesn't help the company's credibility. http://www.davincivirtual.com/loc/us/michigan/bloomfield-hills-virtual-office/facility-967/
Failing to issue a PR with the 8-K announcing the resignations is an ominous sign.