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LOW, I executed small buys ($0.99) Friday just prior to the close also. The buys did not print on level 2, but did go through and post to my account.
What meeting?
Too bad HYRF and EYII couldn't have done in China what ZAP did. In a month they went from a signed agreement to product coming off the line:
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Press Release Source: ZAP; Youngman Automotive Group Co., Ltd.
ZAP Signs Electric Car Joint Venture with China's Largest Luxury Bus Manufacturer
Friday September 21, 7:00 am ET
Youngman Auto Group to Make Electric and Hybrid Cars, Trucks and Buses for
Joint Venture
JINHUA CITY, China and SANTA ROSA, Calif., Sept. 21 /PRNewswire-FirstCall/ -- In a joint statement released today, USA electric car pioneer ZAP (OTC Bulletin Board: ZAAP - News) and Youngman Automotive Group, China's number one luxury motor coach and high-quality commercial truck manufacturer, have signed a joint venture agreement to manufacture, market and distribute electric and hybrid vehicles for the passenger car, truck and bus markets. The new joint venture company will also focus on the development and manufacturing of electric charging infrastructure.
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Press Release Source: ZAP
New Electric Car Factory Rolls Out First ZAP Xebra(R)
Wednesday October 24, 2:34 pm ET
LING XIAN, CHINA and SANTA ROSA, CA--(MARKET WIRE)--Oct 24, 2007 -- Electric car pioneer ZAP (OTC BB:ZAAP.OB - News) announced today that a new factory in the Shandong Province of China has rolled out the first of its Xebra® sedans and pickups.
That is how I read it too. I believe he would appreciate it if IHub posters would direct their questions collectively to the MODs who in turn could handle the emailing. It is a reasonable request.
Absolutely.
I suggest that instead of going further and further and further in the hole, he do exactly that. Close the doors. At some point money can not keep going in the door while nothing of substance comes out. I do not hold the position that he ever intends to make a go of it. I think he will continue with the status quo until finally and ultimately there is nothing left to be done but close the door. He has not done anything to indicate otherwise. And no one, NO ONE is obligated to go down with this wreckage. I say salvage what little you can. Just my opinion.
Yes, I like you was lied to. Lied to repeatedly until I finally pulled the plug. My losses were compounded by repeated on going lying and white washing.
Will you please quit asking me what he could have done? You sound like a broken record. It is not a relevant question. All that is relevant is that he should have been truthful with us so we could have made informed decisions. I did not exchange wedding vows with HydroFlo, I bought stock in good faith. I was mislead and lied to. I could have gotten out sooner had I been told the truth. I have absolutely no interest in what George should have done. No matter how many times you watch a movie, the same thing will happen over and over. No matter how many times you review this thing in your mind, you will get the same results. Nothing is going to change. All you or anyone else can do is sell and save yourself from further losses.
Since you are not me, I suggest you have no business presuming to know what I want. Didn't you admonish us the other day about not judging? Well, follow your own advice. I have no wish for "vengeance". I'm not a three year old.
I am a paying member of the IHub and I don't see anything in the TOS about having to own shares in a stock before being allowed to post about it. I do however see plenty about confining the conversation to the stock. Tex and I are not HydroFlo . George is.
Again, how is it that you presume I harbor hate? You are way beyond your bounds here. If I choose to discuss this shambles rationally like an adult, I will do so. If I came across Moore broken down on the side of the road tomorrow, I would help him. I would still also say he has scammed me. Jesus kissed Judas and called him friend. He also called him the son of perdition. He called Herod a fox. He called religious leaders a generation of vipers. He made a scourge and beat the money changers out of the temple that was then valid. You are way out of your bounds telling anyone what to say or how to post on a silly public chat board and blow it up into something of biblical proportions. I can call a spade a spade with a clear conscience and do it without hate. I do not hate anybody. Not anybody. You are wrong to say I do. I do not hate Mast. I do not hate Moore. I hate what they have done.
No, I am not in. I feel there is nothing to go after, so it's largely a waste of time. You can't get blood out of a turnip. I believe there are likely civil suits pending, probably against Mast and Moore personally. I don't know that, but I suspect it. And I would not have any interest in joining. I partly blame myself for being gullible. I sold a long time ago at a loss. Had I been told the truth about the state of the company, I would have sold far sooner at a considerably smaller loss. Even after Hill resigned and I read his letters filed with the SEC, I continued to hold out hope that things might turn around. I briefly bought into the notion that Moore was a victim too, and was trying to right the ship. But I have since wised up to that tripe too.
I'm beginning to think that HydroFlo is a ring that was forged in the bowels of Mount Doom, and anyone who handles the "precious" for too long has a hard time casting it away...LOL.
Contact: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm P.A. Tel: (212) 686-1060 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 Email Contact www.rosenlegal.com
This is all the info you need.
Explain this to me. If Moore was such a victim of Mast's wily ways, why did Moore, as CEO of HYRF, get right back in bed with Mast on that Shine Holdings scam? Was he "fooled" again? LOL. They both did that in a blatant effort to falsely inflate the share prices of Shine and HydroFlo, and don't you dare tell me different. You need to wake up and smell the trickery.
Okay. No argument there. I officially make a public retraction. That should fix everything and HYRF should gap up in about an hour and a half...LOL. Now how about addressing statements made by Moore....statements that matter.
Here is some real information for you. This stock which one time traded at something under a buck and a half now has a very, very long climb to ever see a whole penny again. And with the dilution coming after the R/S, I bet you anything it will pass a penny....on the way down.
I have a strong idea that a court of law will soon determine just who has put out false information. When this is over with, come back and tell us about false information and where it comes from...LOL.
I put out false information? LOL. What have Mast and Moore done? Answer me that.
Do you not yet grasp that I am under no obligation to suggest what coulda, woulda, shoulda been done? That's all water under the bridge. Had George told us the true state of things, I would have sold much sooner and been long gone. I don't care what happens to this phony company. I am not running it, I was only an investor. Neal Hill was the only ray of truth in the whole affair when in his letter, he explained that the company was bankrupt, upside down, and unable to even make payroll. Because of the information he was privy to, he made the obvious and correct decision to cut and run ASAP. He explained that leadership in the form of Mast and Moore had made wreckage and ruin of this company. You need to quit reiterating this false premise that Mast was the bad guy and poor George is the fall guy. That is spreading false information.It's bunk. Moore was an integral part of company leadership throughout this entire fiasco. It's over with, P K G, it's history. Nothing is going to save this "company", P K G, because there is no evidence that Moore wants to. He may tell you otherwise, but he is not going to do it. When is the last time there was a meaningful mention in a PR or shareholder update of some revenue? Haven't they claimed to have been selling PLUS systems, water pitchers, etc? Where's the beef, P K G? It's all phony baloney. All they have sold and will continue to sell is paper. And there is a lot of worthless paper about to crank out. Just wait and see.
I would have done nothing. Had I been told the truth I would have bailed long, long ago. I have no interest, nor am I under any obligation to go down with the ship. And that is where this is going...DOWN.
I don't want anything. What i want is not relevant. Everything IS so bad, and through no doing of my own. It's a flim flam pure and simple. It is not about eggs or my face. It's about being told the truth so I can make an informed decision.
Thomas Ledger, James Kelly and Shane Traveller are three auditors that I know of. I am sure there have been others, just like there were other CEO's who quit without HYRF filing it, as Dr. Hill pointed out.
I would have told people the truth.
From SEC filings...According to Neal Hill, Moore did not inherit the "mess" things are now in, as he was part and parcel to creating the mess. I believe Dr. Hill. He did not submit these letters to the SEC lightly. I am sure he wanted the SEC to know that he has no part in this and as soon as he started looking under the hood, he got out quickly and burned the bridge. It is obvious that Moore is carrying on the tradition. After perpetual promise of audited financials supposedly in the works, we see from the shareholder meeting agenda that they wish to appoint yet another auditor. So obviously no financials are currently in the works since Honest George can't seem to find an auditor willing to perform a little slight of hand...a little soft shoe....a little presto change-O....LOL. Read what Dr. Hill had to say on his way out, how that the only assets HYRF has are it's technologies and licenses. How hard would that be to audit? LOL. No, HYRF is dead in the water and with a reverse split coming, will be even more worthless ( if that is possible). What a shame. Notice Dr. Hill's reference to existing AND CONTINGENT law suits. That means at the time of the letter, Dr. Hill new that more law suits were likely coming. Put a fork in this. They have no assets. And if they ever were to turn a dime, lawyers would be all over them like ugly on a baboon's ass, like ants on a fish head, like a West Texas dust storm, like....well, you get the picture. Anything this scam could produce will be immediately set upon in lawsuits.
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officer
On July 5, 2006, Dr. Neal Hill, resigned as Chief Executive Officer and Director of HydroFlo, Inc.,. Dr. Hill had held these positions since April 7th and May 20th, 2006, respectively.
Dr. Hill, a “turn-around” specialist, cited the following three reasons for his sudden and unexpected departure: 1) Breech of contract between HydroFlo, Inc. and Dr. Hill by HydroFlo Founder, Dennis Mast at the substitute annual shareholder’s meeting held June 29, 2006. 2) Mr. Mast’s attempts to coerce Dr. Hill into publishing favorable news to the public about HydroFlo’s activities, when, in fact, Dr. Hill’s due diligence continuously uncovered bad news, including a proposed reverse merge of one of its portfolio companies into a public shell owned by a foundation controlled by Mr. Mast, with the express purpose of artificially inflating the stock price of the new entity for the primary motive of raising additional capital. 3) Mr. Mast’s unwillingness to provide adequate funding for HydroFlo’s operations, a critical element in convincing Dr. Hill to accept the CEO position.
Additionally, Dr. Hill stated that raising debt and/or equity capital would be extremely difficult, if not impossible, because of liabilities associated with existing and contingent shareholder suits based on 2005 false representations by Mr. Mast and George Moore, two HydroFlo officers at the time, about company assets and related performance expectations; and, other threatened shareholder actions related to 2006 statements by Messrs. Mast and Moore regarding promised dividends that have never occurred; and, SEC sanctions against Mr. Mast and HydroFlo.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Reference: Employment Termination Letter
Dear Dennis:
This letter serves as an official notification of my decision to step down as CEO of HydroFlo, Inc. Following are my primary reasons: 1) Your decision to breech my Employment Agreement at the substitute annual shareholder’s meeting June 29, 2006. At that meeting you used your majority stake in HydroFlo stock to control the election results and vote against the Board of Director’s proposals for restructuring the organization, directly usurping my directives as CEO, and in conflict with SEC sanctions against you. 2) Your continual attempts at getting “upbeat” information to the public, strictly to maintain share price, when, if fact, there was no good news. This includes the attempt to do a reverse merger into Shine Holdings, which would artificially increase the stock price, so that you could raise additional capital, in direct conflict with SEC sanctions. Additionally, I have discovered that four CFO’s submitted their resignations to HydroFlo within the previous year, which was never submitted to the SEC under Form 8K, as required by law. If I had been able to uncover this information before April, I likely would not have taken the HydroFlo CEO position; thereby, eliminating the irreparable personal harm suffered by my family. 3) Your unwillingness to provide adequate funding for HydroFlo’s operations, a critical element in convincing me to accept the CEO position.
Dennis, as you know, HydroFlo’s current ratio is upside down, and you did not fund payroll in June. This situation simply is untenable. This company is bankrupt, but without a reorganization plan. My opinion is that Chapter 11 is the only scenario whereby corporate survival is possible, so that the company might maintain its only assets: its technologies and licenses. As you know, raising capital is next to impossible as long as we have the real and contingent liabilities associated with the shareholder suits related to the false statements made by you and George in 2005 and this year, and the SEC sanctions against you and the company.
Dennis, you induced me into coming to HydroFlo by multiple misrepresentations and misleading and false statements, and I am unwilling to serve HydroFlo stakeholders any longer, if you expect me to be your “yes” man; or if I am expected to be accountable to one shareholder who continually exhibits a reckless disregard for the laws and regulations governing public companies.
In closing, I just reviewed my handwritten notes for our personal meetings over the past three months. I am dismayed at the numerous times you made commitments to me regarding substantive issues about your responsibilities to me and the company, which, now is apparent that you never intended to honor. Your falsehoods have come at an extreme cost to me and my family, and I am embarrassed that I was taken by your misrepresentations and lack of integrity. I can only assure you that I will seek whatever legal remedies I have in order to attempt to obtain some semblance of equity.
Neal Hill
It's a sound strategy. Good luck with the offshore. our government won't let the average American make money shorting trash. They only grant that privilege to foreigners and wealthy hedge fund investors. They need the likes of you and me to skin.
Get back on topic, P K G, this is not about love or hate. I for one DON'T hate the man. I wouldn't spend the emotional capital on him. But I detest what he has and is doing. It is beyond defending. It has taken money out of people's pockets.
Quit excusing the creep, P K G, it's unseemly.
For the absolute last time although I have little hope you will comprehend the answer...it does not matter one whit what he does, that is and has never been my complaint. It is the constant saying one thing and then either doing something completely contrary or doing nothing at all. He does nothing but lie and that is what I can't stomach. How many times do I need to tell you? All I ever expected from him is to tell the truth, good or bad, just tell the freekin' truth. We are all grown ups here. We could have handled the truth, dismal as it was. But it is the equivalent of cheating and stealing when you lie to investors or potential investors in order to influence their decisions where it comes to what they decide to do with either their shares or their money. Few of us feel the love with this company like you seem to. I don't want to be slick talked into holding a position with lies that never were intended to come true, when the prudent thing to do investment wise would be to sell. His lies influenced people, P K G, and that is just plain crooked, any way you add it up.
What would I have him do now? I don't give a crap what he does now. It's too late to make a difference. He is getting ready to dilute the crap out of this all over again. That aught to tell you he has nothing in the works. This stock is a freekin' nightmare.
It seems that you never get what people are saying. It's all about the LYING , P K G. It sounds like in your estimation, George and HydroFlo should have a free pass to lie, cheat, steal, whatever...all in the name of keeping the business afloat. Well, that is where we part company. He has done nothing but lie. And as for products being sold, prove it. You can't demonstrate that anything is being sold except newly minted shares. It has been a year since HG took over. He painted a nice picture and then proceeded to pull the rug out from under us. You asked where he is supposed to get funds? It's not about where , P K G, it's about what he tells us, the shareholders. If he wants to walk around Raleigh and sell raffle tickets, that's fine, but don't B.S. us about it after the fact. He has followed in Mast's footsteps in saying things crafted towards manipulating the share price or manipulating bag holders into holding when they aught to cut their losses.
He has delivered on a lot of things you say? Name one. You know, a lot of what we squabble about would be laid to rest with the issuing of AUDITED financials. They have been promised for years, but they are the one thing you will absolutely never see. The promise of them are HG's fig leaf. He is hiding behind that promise and knows he doesn't dare produce it, because it would be like reading the old fairy tale about the "Kings New Clothes". There is nothing there.
Funds for what? His salary? You don't get it, do you? If he was in a straight he should have told us as much and not made up a bunch of fluffy crap. It's all about squaring with the shareholders, not stringing them along. Just keep eating up the mashed peas he's spooning you and mind your bib doesn't get dirty. People could have sold long ago at a much lower loss if he hadn't bull chitted us every step of the way. You want to talk about dishonest business? Talk to George.
Your point was that dishonest business dealings land you in jail. He is not in jail. If Moore were and had been honest he would have truthfully told us how morbid things were, not do things like say he is taking a large number of shares out of circulation, all the while dumping more. I would have respected a bimonthly letter saying "things look very grim and I will have to keep diluting the chit out of you guys to make payroll around here." Not all the bull crap he has fed us and now the R/S to make room for the dilution to continue apace. He blows smoke out his arse and that is all there is to it. This is a stinking pile of horse manure. Because I can.
Nothing else. Let's review:
Press Release
HydroFlo, Inc.
Release date: July 12, 2006
HydroFlo Announces New CEO
APEX, NC-(MARKET WIRE)-July 12, 2006 - HydroFlo, Inc today announced that George A. Moore, III has been named CEO of the company.
Moore states, "On July 10, 2006 I accepted the position of CEO of HydroFlo Inc. The offer made by Capital Access Inc (CAI), a major holder of HydroFlo stock with proxy of the majority of HydroFlo Inc stockholders, comes at a time of considerable corporate disorder. To address this problem I have set several levels of objectives. Short term objectives include stabilizing the corporation's Portfolio Companies, fulfill the MARTI spinout and dividend requirements, and support the continued growth of the portfolio companies financially. Secondary objectives, but still short term is to bring the portfolio companies into financially self supporting operations, as well as developing outside funding for the continued growth of each of the corporate entities.
Long term objectives will require addressing the mandate of the June 2006 stockholders meeting. Accomplishing this mandate requires the plan formerly advocated by Dr. Hill be revisited. The rejection of changes in corporate bylaws not being permitted by the stockholders, in effect, led to the resignation of Dr. Hill. Effort of management to restore confidence in the company will require a future stockholders meeting to elect a new Board of Directors. This Board of Directors will be a "Managing Board" selected by stockholders to aid in the growth and recovery from the past year's problems. The announced "Planned" change made by Dr. Hill in his June 28, 2006 press release, which included the planned merger of all corporate groups into two companies, required stockholder approval which was not forthcoming, and will require reversal of direction on some issues desired by Dr. Hill. These are the continuation of Mike Doss and Deanna Britt in their current positions as Chief Operating Officers of Safety Scan Technology Inc and Ultra Choice Water Inc respectively. HydroFlo, additionally, will retain its BDC format.
I have reviewed the list of investor emails over the last three months; the need to respond to stockholders in a scheduled letter from the CEO is evident. I will commit to a letter twice monthly to update where the corporation stands, and issues being addressed. This letter and future letters will be posted on the corporate web site ( www.hydroflo.us )."
About HydroFlo HydroFlo (http://www.hydroflo.us) is a Business Development Company, as defined by the Investment Act of 1940. Headquartered in Apex, North Carolina, HydroFlo's core focus is to seek out synergistic acquisitions that will provide capital appreciation and income from its portfolio companies. The mission of HydroFlo is to locate, develop, and fund innovative technologies and businesses and utilize these acquisitions to make pure water available to the world by means of disinfection, purification, and removal of contaminants. It is our belief that water can overcome hunger, disease, poverty, and improve the overall quality of life on earth.
***************************************************************
1. Failed in all short term objectives.
2. The blurb about Dr. Hill differs substantially from the letter Dr. Hill submitted and filed with the SEC along with his resignation. Given HYRF's track record, I tend to lean toward Dr. Hill's story.
3. Bimonthly newsletter...speaks for itself.
Summary....a dismal first year that saw massive dilution, a string of false statements to shareholders over the phone and the price plummet to near zero. And the promised MARTI spin off has been conveniently axed.
I don't know which this company is a bigger one of...a scam or a joke.
Absurd? Then how did this guy stay out of jail and what was the name of his company?
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19755 / July 5, 2006
SEC v. HydroFlo, Inc. and Dennis Mast, U.S. District Court for the Eastern District of North Carolina, Western Division, Civil Action No. 5:06-CV-270, filed July 5, 2006
SEC Sues HydroFlo, Inc. and its Former CEO, Dennis Mast, for Issuing False Press Releases
The Commission announced that today it charged HydroFlo, Inc. ("HydroFlo") and its former CEO, Dennis Mast ("Mast"), with defrauding investors by making false and materially misleading statements about Hydroflo's water treatment business, contracts, and prospects in a series of press releases in 2005. Without admitting or denying the Commission's allegations, HydroFlo and Mast have consented to entry of injunctions against further violations of the antifraud provisions of the federal securities laws. Mast, of Apex, North Carolina, has also consented to entry of an order requiring him to pay a $100,000 civil penalty, barring him from serving as an officer or director of a public company, and barring him from participating in offerings of penny stock.
The Commission's complaint, filed in the United States District Court for the Eastern District of North Carolina, Western Division, alleges that HydroFlo and Mast misled investors by (i) mischaracterizing an agreement involving a subsidiary's consignment customer as a guaranteed contract worth $210 million to HydroFlo; (ii) touting a positive stock analyst report as "independent" and "unbiased" without disclosing that HydroFlo had paid $19,500 for the analyst coverage; and (iii) repeatedly publishing false statements claiming that HyrdroFlo subsidiaries were providing filtration equipment and water purifying consulting services to government agencies engaged in Hurricane Katrina relief efforts when in fact the company had not shipped any products, nor provided any such services. All of these false press releases had the effect of increasing trading volume in, and the price of, HydroFlo's common stock.
The complaint charges HydroFlo and Mast with engaging in transactions, acts, practices and courses of business in violation of Section 10(b) of Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder. HydroFlo and Mast consented to the entry of permanent injunctions against future violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. Mast also consented to entry of an order requiring him to pay a $100,000 civil penalty under Section 21(d)(3) of the Exchange Act, permanently barring him from serving as an officer or director of a public company under Section 21(d)(2) of the Exchange Act, and barring him from participating in offerings of penny stock under Section 21(d)(6) of the Exchange Act.
I disagree. Running an illegal business MAY put you in jail. Running a dishonest business will not. Case in point...HYDROFLO.
Since they are incapable of running an honest business, the sooner they shut the doors the better.
I didn't say he printed it, I said he said it. So I guess it doesn't count then? In any event, all that really matters is that he is DOING it and there is no reason for that unless he intends to dilute again.
You never said it, but HG did.
No doubt about it TEX, as there is no other reason for a reverse split. They will without a doubt commence dumping apace.
Tex, you told me about ZAAP! I sold my SDGL today for a nice 10% in less than a week. So the SEC shut down chit dog? LOL
Good luck with it.
I don't think you'll be disappointed.
I winder what happened to chitdog (SHDG)? It has fallen off the Earth.
What happened to SHDG? Seems to have disapeared without a trace.