Oops, spoke to soon. Mgmt just printed another 79 million shares to convert $78,350. That's a discounted rate of .001 / share. Triple 000's here we come. O/S = 597 million shares.

Good luck maronti. I sold everything but a few million shares months ago. I'm just letting the rest ride for the time being. Considering a few other pinky stocks I owned, I don't need the write-off this year. I just might sell them for a hamburger or hotdog or two if the time or need arises.

I think Peter understood the negative, but he didn't want to lose the money coming in. As such, he was the ever optimistic dreamer...hoping to keep the money flowing in. He knew if he told the truth, then the investors would walk away and the money-well would dry up.

I think we were all taken on this ride. If I had to chose between losing my integrity & credibility or money, I would chose money. I can earn the money back, but trying to earn back your integrity and credibility...well, that's tough. And, Peter lost it all.

HELIX's board should pay the president's salary and all other officers' salaries in shares and keep all the borrowings they use to pay adminstrative costs to pay for marketing and operations. You would definitely see a change in demeaner when it comes to marketing this product if they did that.

You may be right, but at some point in time unless this puppy turns around, I believe they will stop throwing good money after bad into this hole.

They can't raise capital and St George will soon stop lending to them. The only way for them to survive is maybe to put themselves up for sale.

Keep in mind that mgmt has printed about 450 million shares since this summer to convert debt to shares. And, they continue to borrow more money. The share structure becomes more meaningful if you have the full picture.

cowboy

I would be cautious even if we found the bottom on this stock because by the time we get there, mgmt will have printed over a billion shares and then we will be faced with an R/S.

Even if they were to sell turbines, they're still struggling with finding a way to finance the manufacturing of them. The problem is that they have used up all their cash (and borrowings) to pay their salaries and don't have anything left over to pay for manufacturing their product.

Oh and yes, their balance sheet looks a little better because they converted allot of their debt, but they have diluted the crap out of their stock. Now they can't even issue shares to raise capital because they have undercut their shareholders.

The only ones seeing green here are the note holders who get discounted shares, and thats only if they can sell them.

Out of town since last Friday. 10q is not optimistic.

"Confirmation of an order is given on receipt of a signed purchase agreement with a 50% deposit in U.S. dollars."

So they get 50% cash up front.

"Also, in September 2010, the Company in cooperation with its distributor SWG Energy, Inc, accepted an executed purchase order to provide twenty-four (24) S594 wind turbines for the Oklahoma Medical Research Foundation (OMRF). This order was received after installation and successful completion of standard testing for two units that was previously sold to the facility as part of the overall project. The value of this purchase order is $414,000. The Company is currently attempting to raise the capital necessary to manufacture the units to fulfill the order."

With 50% cash up front ($207,000), they still need to raise capital to manufacture these units. (I bet they already spent this money and salaries.) This is not a very good picture. If they don't raise the necessary capital, then they will lose the contract and go out of business.

They are printing stock like the government is printing money...both are being deflated. Helix has printed so much stock to convert debt that they will not be able to print any to raise capital.

I'm out and don't plan on getting back in until everything settles down, if that ever happens.

cowboy

Here again, at some point in time people will just stop buying this stock with all the dilution.

How long do you think it will take for that creditor to sell their 82million shares and all the other creditors who converted their notes these past few months?

And, considering that Helix has at least $350k more in notes to Bluewater (who alleges it is closer to $650k), mgmt would have to isse 269million more shares to convert this at a discounted price of 0.0013 / share. I'm not so sure Bluewater will accept shares in lieu of cash.

Considering the fact that Helix has no cash and very little revenue, the future doesn't look bright.

What do you think this company is actually worth (with an approved patent)? $1million...$2million. With 520million shares o/s that's only about 0.0019 - 0.0038 per share.

Since they have little sales, it wouldn't surprise me if Helix is borrowing money every month to meet their administrative costs and then turning around and convert the notes to stock. Heck of a way to run your business. Then again, I wish I could pay myself a half-million dollars in salary by borrowwing and then just print shares to pay for it.

Here we go again. Another 82 million shares printed to convert $108,400 in notes at a discounted price of 0.0013 / share. Now there are 518 million shares o/s. We are definitely headed below 0.002

Then again, we may not see many more debt conversions. The stock is getting so low that creditors would rather have their money then to risk it on the market. How long would it take a creditor to dump $65,000 worth of stock discounted to 0.0015/share? Interest in this stock is truly waining.

I would love to play this, but I've already been caught once holding shares when they started releasing these 8k's. I think I will sit on the sidelines for a while. Don't want to be holding shares when they starting printing more shares. I'm not even sure this thing will bounce very high if and when they announce the have their patent. I'm also not sure this is even a good takeover target with all their debt and issues. Another company would really have to believe in their potential to take them over; and considering the fact that they haven't sold very many turbines, I don't see a very big market for their specific turbines.

cowboy

Well, all I know is that it can't go less than 0.0001. As far as the lawsuit, the last 8k states that Bluewater alledges Helix owes them approximately $650k; whereas Helix states that they only owe them about $350k excluding any interest. I'm not sure if any covenants were broken, if there were any. That may be why Bluewater states they are owed nearly double what Helix states.

Even if they win the lawsuit, they will have atorney fees, etc, and they will still have that $350k note they still own them, which was a surprise in itself. I wonder if this note was off-balance sheet as I thought they converted all of their debt (at least balance sheet debt). I'm not sure we are all playing with the same deck of cards here.

0.0015 would be my guess too. Here again, if mgmt doesn't print anymore shares, this thing could go higher. But the investors are pretty skiddish since mgmt printed around 400 million shares in just a few months.

One good thing about the current stock price is that mgmt cannot dilute the price much futher by converting more debt to shares (at least not at these prices). No creditor would allow themselves to be paid with stock in which the price is so low and there are not enough shares trading daily to absorb 30, 40 or 50 million shares.

With the default in debt covenants and pending lawsuit, you may want to hold off buying. I really don't believe we have hit bottom yet. Even if the share price starts to climb, mgmt will only undercut it by converting more debt to stock.

Vista...you're probably right!

Not sure how Helix could pay these funds back as they have no cash and generally speaking, you cannot borrow funds to pay off other debt. If history serves me correctly, early on during this past spring Helix was in default with St George and it increased the principle balance to 125% of the original note and increased the interest rate to 18%. I suspect this is what happened here as well and Helix will probably repay it in stock as they have in the past.

cowboy

Considering the last 8k, Helix is borrowing money every two weeks from St George. Aug 10 - $72500, Aug 30 - $65k, Sept 15 - $65k and Sept 30 - $65k for a total of $267,500 add'l notes. With their default, these notes increase 125% to $335k. Helix has no cash so they will probably convert these notes to stock. If they convert at $0.002, then they will print approximately 170mm more shares. Considering today is Oct 21st, I expect that Helix borrowed another $65k, which will more than likely be in default by now increasing it 125% to $81k and when converted to stock will add another 40mm shares.

Is there no end to this madness???

cowboy

Actually, maybe_this_time's scenario is not the worst case. Helix has no cash and to convert any new debt to stock, they would have to discount it below $0.002 / share. At some point in time, their stock will be so low that 1) you can't discount it any lower and/or 2) their is no market for your stock. Nobody will be willing to buy.

I still believe this stock is headed to BK. Now that I'm totally out of this stock, I enjoy watching mgmt dig themselves a hole deeper and deeper. If only they would look up, they would see the walls of the hole starting to cave in.

cowboy

If I were the Oklahome Medical Research Foundation, I would rethink the purchase of 24 turbines just from a going concern basis. Who's going to service the wind turbines if Helix goes belly up? Warranty contracts don't do much good if the company backing them are BK.

cowboy

Forget the RS...this thing is headed for BK.

cowboy

Yeah, and I bet they will not accept worthless shares as payment. I wonder if their patent is worth $350k. Bluewater may be getting a patent, because Helix has no other asset. That would serve mgmt right. Screw the shareholders and then they get screwed by their note holders.

cowboy

This company has ran itself into the ground. By printing shares below market to convert notes, they have caused themselves to be in default on other notes, which penalizes them with 125% increase in the notes. Mgmt doesn't seem to understand that by converting these notes with significant discounts, that they create the environment for them to default on the terms of their other notes. You just cannot continue printing shares to get yourself out of debt if your debt includes default terms based on the stocks market price.

I thought this pinky had hope since it had a product and a potential patent. But going from $3 to $0.003 a share in a year and 60 million to 400+ million shares in a few months has really been telling. This might have been a company worth investing, but in reality, it is just another pinky. Mgmt living high on the hog on the backs of the shareholder.

RS is coming if they survice bankruptcy!

cowboy

I'm not so sure St George would benefit much either since they are now 10% shareholders. If Helix continues to print shares, then St George will have only traded their note for shares and will be in the same boat as us, if they continue to hold and Helix continues to dilute.

SC 13G filing - am I reading this correct??? St George is going to hold their shares for a little while? If they plan to hold their shares for a while and continue at 10%, then it would be in their best interest too for Helix not to print anymore shares.

cowboy

With this last set of conversions, they have now printed approximately 268,459,570 shares to convert $1,001,242 in notes since 6/30/10. That's a discounted price of 0.0037 / share. That may be our new bottom.

Well at least that last conversion was above market. They issued 38,684,378 shares to convert $178,070 in notes. That's a 0.0046 / share conversion price. Boy did they get screwed, compared to the others who converted their notes. Maybe they will hold on to their shares, unless of course the company decides to continue printing shares.

What are they doing??? Borrowing money to put in their pockets and then issuing below market shares as repayment???

Anybody have any idea as to what their debt structure looks like now?

cowboy

This dilution is bad enough, but mgmt is undermining the share price by pricing the convertable notes at 50% of the current stock price. If mgmt would price the convertable notes closer to the current stock price, then these creditors wouldn't dump their shares so quickly. The stock price would have a better chance of holding its value if these guys would just hold for a while before dumping.

cowboy

Wow, at 0.0007 / share dividend that's 10,000,000 super cars to recoup my losses. GO RVGD...er huh...that private company.

Cowboy

Just prolonging the agoney!

Cowboy

Cotton-pickin I forgot about the payroll side of it. Thanks Hawks.

Cowboy

Question -- Since we all know Peter is broke and that his funds were provided by RVGD shareholders, if he used those funds (from RVGD) to set up his other companies, wouldn't those companies then be owned by RVGD and its shareholders?

cowboy