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wow, it even got a sticky
at least we are discussing HRNF
will be interesting, to say the least, to see this develop and if anyone will do anything about it
Probably should retain the original message/screenshot
Hopefully HRNF will update pinksheets this month with true Delaware share structure info (current info). Maybe then the TA will know the authorized share count.
redfisher we don't even know that is what the CEO said. This is a message board.
I don't think it is right for a company officer to disseminate material info like that in that manner.....if he actually did.
I think it is up to others to decide. Thanks
Hadesdog - so according to a poster's claims, HRNF has admitted that product is NOT in the 72 drugmart stores? That's not what they say in the last press release. They say it will be in drugmart in 2 weeks on their website. Did they just buy some trial promotional product and warehouse it? Puzzled I am.
Pretty hard to support the argument about shelf space for such a small and expensive product?
I suggest one wait for a company release explaining these new problems rather than relying on a phone call. They already explained their innocence in the SEC vs. Gendarme action, where I see nothing to suggest HRNF did anything wrong. They also have disclosed their DTCC problems.
Seven - hopefully people aren't trading based on material non-public information. Posting such information on a message board, true or fabrication, when it is not in a co. disclosure or on their website, may easily be considered insider info. Apparently the info is right from the CEO? Wow. Now many more may be "in possession" of this information.
Insider trading WARNING from pinksheets:
Insider Trading Warning
This company may not be making material information publicly available.
If you are an affiliate, employee, insider, or any person in possession of nonpublic material information about this company, please be advised that buying or selling this security may constitute trading "on the basis of" material nonpublic information prohibited under Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 10b5-1 thereunder. Violators of these laws are subject to civil and criminal penalties.
What is insider trading?
Illegal insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security.
Rule 10b5-1 provides that a person trades on the basis of material nonpublic information if that person is "aware" of the material nonpublic information at the time of the purchase or sale.
Affiliates, insiders, relatives, or other persons in possession of material information should use extreme caution when buying or selling securities on the basis of material information, particularly in securities where the company is not making adequate current information publicly available as a matter of practice.
Why does OTC Markets display this warning?
Companies that are identified on otcmarkets.com as having “No Information” may be placing their shareholders at risk of violating 10b5-1 insider trading rules. OTC Markets recommends that investors wishing to place a trade in such securities contact the company to verify it is making adequate current information publicly available.
HRNF -15 billion shares authorized
Looks like HRNF is preparing investors for more massive dilution, per their Jan 10th press release.
When HRNF is forced to reverse split after they get stuck on no bid again, but still have to dump dilutive shares, the share price will once again tank fast and furious.
It is currently propped-up artificially, but won't be at the stratospherically-high prices forever. HRNF dilution is part of their business model.
Reverse splits are what this company does regularly....particularly after they claim "currently no plan for a reverse split"
Thats why
Not likey -
HRNF owes more than their entire market cap to their CEO. This means even more dilution will be needed to issue the shares to management and insiders HRNF has indicated it will do.
No confirmation that HRNF has bought any shares back.
If HRNF reverse splits
What will be their excuse THIS time? A UPC code problem? The DTCC reinstated restrictions not letting them dump even more dilutive "equity" on the gullible, like they warned they may do, in a recent PR?
If you could sell any at $0.0002
Not much chance of that, especially with HRNF almost broke, per last report.
Me thinks a lot of people got too greedy and din't sell when they had the chance.
Rvrn $0.0001's won't be sitting pretty if they announce a reverse split.
Not bright if you own HRNF shares.
Looks like investors are getting taken to the cleaners once again.
Just as many predicted.
Sure Seven - just like the 2009 buyback scheme that resulted in billions and billions of shares of dilution instead.
Company never mentioned buyback again, since that last Press release about it.
"Buyback" word suspiciously missing from ALL press releases since then.
Still can't buy or sell HRNF
through large credible bokers....doesn't look good.
No reverse. Big buyback coming.-timbuk2
are you aware that Heathrow has only around $3,200 in cash, per their latest financials?
Those same financials don't even list the judgment lien liabilities, which are public record at sunbiz.org. Those liabilities are listed under Heathrow and WGL Entertainment Holdings. How could Pagnano sign-off on financials without including those liabilities and the interest accrueing on those liabilities??
SRV mentioned they cannot use cash from dilutive financing to buyback shares - very illegal to do so.
A reverse split may be the only way to significantly reduce the share count further.
Pagnano got paid some of the money he loaned the company in 2Q 2010...not much.
The fact that Pags decided to not pay himself restricted shares for those loans shows he doesn't appear to have confidence in the value of those shares. If he would have taken shares, they would have lost almost all value through the reverse splits like his loyal shareholders experienced.
Now, the money owed Pags represents more than the entire market cap of the company, if paid in shares at the same price they were dumping shares in 2010 ($0.00005/share).
Interesting how those never doing business in a manner such as this have all the answers?
What manner?
Announcing buybacks that don't happen? Cancelling shares instead, from unknown sources, maybe even those issued to others previously purposely so they could later cancel a consulting/promotional agreement to make it look like a buyback?
Issuing PR's about having product in drug stores, when their (heathrow) website indicates the product is NOT in those stores?
Having a history of putting out projections that they NEVER come close to realizing?
Some may say the past is the past, but Heathrow is doing it to shareholders once again. Recent PR's and what has happened since clearly demonstrate this.
Can't the felon CEO just keep putting this off like he did for the original sentence?
Obviously there was good reason to get revoked, or they wouldn't go to all the trouble.
Sure hope he isn't using company funds to defend himself.
Any docket info or links?
Would be interesting to follow, IMO.
I did read about Genfin getting a controlling interest, plus the advances, and the payment in shares for "services". I have not done as much DD as you, and that is why I mentioned my confusion about the funding.
New management did disclose they do have "concerns" about the classification of shares and valuation issues.
With restricted shares being convertible on a 1:1 basis and others at 75% of the trading price, I'm not sure 25 billion authorized shares will be enough.
Looks like an accounting nightmare, and it will be interesting to follow if/when they begin to resolve those problems.
Correct - I'm not sure, just speculation. It would be interesting if former CEO Pillay actually did not claw back Pino's shares.
They could employ a full-time investigator just to follow his (Mario's) antics, IMO, based on his past track record with this and other companies and the SEC action against him. Maybe they alredy are doing this.
I do enjoy reading your posts about this stock. Now we find one more interesting development. I wonder what PYCT IR will have to say about Pino claiming to be involved.
They still haven't provided any details on just how they are getting "funding" to stay afloat.
Did you really just respond to yourself like that, or did you forget to log-in under a different moniker? Your last post seems to suggest the latter, but it could just be sarcasm, IMO.
Yes, finding out Pino may still be involved adds a breath of fresh air to this company. Certainly worth a press release or two, IMO.
With Pino's IRS case, his stint in prison, and the current SEC case against him, one wonders why Paychest would want anything to do with him.....unless he is still owner of most of the 22 billion PYCT shares....ouch.
A transfer agent has to keep custody of share certificates and associated ownership records for at least 6 years, so regulators could find out if he does have ownership. If he has not paid what he owes to the IRS, they could even sieze those assets.
I see no update on the SEC action against Pino, but others may know more about this.
Nite does't even keep large inventory, but simply helps execute trades for customers. Customers don't typically short companies with prices and bids at $0.0001. The margin required to short co's like this makes the potential returns not worth the risk.
The twice-monthly shorting reports indicating no shorting going on at all further demonstrates those hyping that shorting is going on are ignoring the real facts, IMO.
Why can't they post financials on their website? They claimed paperwork to update pinksheets would be ready the first week in February.
They could easily post Q3 & Q4 unaudited financials on their website, but apparently are avoiding this. Yet they put out promotional releases about cancelling some shares, but do not disclose if any of those share were actually bought back....just cancelled.
No discrediting motives here. Just pointing out the obvious.
If recent PR's don't demonstrate that Pagnano hasn't changed, I'm not sure what more one needs to formulate an opinion.
And Paychest's Pino is still trying to be in the financial industry?
In the US, he could not be in the legitimate banking or investment banking industry, though.
Convicted felons would't even get a bank teller job. The thing with him still being involved with PYCT is particularly troubling.
Doesn't exactly inspire investor confidence, IMO.
Will PYCT admit the felon Mario (former PYCT CEO) is still working there. He is out of federal prison, though.....for now.
Inmate Locator - Locate Federal inmates from 1982 to present
Name Register # Age-Race-Sex Release Date
Location
1. MARIO ALEXANDE PINO 89225-008 40-White-M 05-28-2010 RELEASED
Mario Pino, former CEO of Paychest (Pino still claims he is with Paychest - see honmariopino profile on linkedin
SEC trouble, along with the criminal and IRS stuff he is in trouble for.
http://www.sec.gov/litigation/complaints/2008/comp20466.pdf
Mario Pino, former CEO of this company
Still at Paychest
See his linkedin profile, under honmariopino
Pretty scary, huh?
If HRNF has only one retail sales partner
and it only gets 6 page views per day, and around 2% purchase HRNF product, then their sales would be almost non-existant.
That site has almost no traffic. And Heathrow's propduct is only one of many. You can bet they have almost 0 sales.
Daily pageviews for drcolbert.com:
Pageviews
1 month 6.20000
3 month 5.80000
It isn't that hard to tell investors the truth.
It is especially important to do when you are a public company and have survived mostly by dumping dilutive shares on those you have been telling these things to.
HRNF must be having some serious problems.didnt they promise pink sheet filings by the 12th...- redfisher
Like what could be a false press release?
Press Release Source: Heathrow Natural Food & Beverage, Inc. On Thursday January 13, 2011, 8:00 am EST
LAKE MARY, Fla.--(BUSINESS WIRE)-- Heathrow Natural Food & Beverage, Inc. (OTCPK: HRNF) is pleased to announce that its functional gum line of Acai Plus & Resveratrol Plus™ is now available in all seventy two Drug Mart stores in Ohio.
.............
Then why does Heathrow's web page indicate it is NOT available in Drug Mart?
From Heathrow updated website.
OUR RETAIL PARTNERS
Excerpt:
Available Mid March at Drug Mart
http://www.heathrownfb.com/wheretobuy.html
With what was revealed, can you believe anything HRNF puts out?
Note the other so-called partners that are not selling the product, per DD done by others. Can you name more than one listed that actually is selling it?
Are you sure you can even sell?
Good luck with that.
TECHNICALS CAN'T BE RELIED UPON WITH A STOCK KOWN FOR MASSIVE DILUTION, ESPECIALLY A PINK SHEET STOCK
YOU MEAN BIG REVERSE SPLIT SOON?
HEATHROW HASN'T EVEN UPDATED PINKSHEETS, AS THEY HAVE PROMISED TO DO IN 2010 AND AGAIN IN 2011.
If Heathrow owned real property in Florida, other than a primary residence, the lienholders would likely get authorities to sieze it.
Heathrow owes tons of money to judgment lienholders, yet failed to disclose these liabilities in their financials. Maybe regulators will check out their financials soon, based on info to their tipline?
Actually there is no shorting at all
0.0001-0.0001 ( -50.00%) Real-Time OTC-BBO No Inside Bid/Offer Trade Time Feb 23, 2011
Short Sales
Date Short Interest % Change Avg. Daily Share Volume Days to Cover Split New Issue
Jan 31, 2011 1 -66.67 22,606,508 1.00 No No
Jan 14, 2011 3 200.00 112,855,509 1.00 No No
Dec 31, 2010 1 0.00 19,324,641 1.00 No No
Dec 15, 2010 1 0.00 0 999.99 No No
Nov 30, 2010 1 0.00 8,000 1.00 No No
Nov 15, 2010 1 0.00 16,727 1.00 No No
Oct 29, 2010 1 0.00 2,683,994 1.00 No No
Oct 15, 2010 1 0.00 12,806,256 1.00 No No
Sept 30, 2010 1 0.00 102,751,654 1.00 No No
Sept 15, 2010 1 0.00 1,005,666 1.00 No No
Aug 31, 2010 1 0.00 166,250 1.00 No No
Aug 13, 2010 1 0.00 702,049 1.00 No No
Jul 30, 2010 1 0.00 9,646,310 1.00 No No
Jul 15, 2010 1 0.00 1,509,367 1.00 No No
Jun 30, 2010 1 0.00 555,452 1.00 No No
Jun 15, 2010 1 0.00 2,783,818 1.00 No No
May 28, 2010 1 0.00 2,247,012 1.00 No No
May 14, 2010 1 0.00 18,176,046 1.00 No No
Apr 30, 2010 1 0.00 30,110,340 1.00 No No
Nothing wrong with mods announcing they will be selling.
Pretty hard to sell, even at $0.0001.
Heathrow sold at half that price, 1.5 billion shares, during 2nd quarter 2010.