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So HRNF has an additional 5 billion of authorized shares of another class?
Didn't they do that before in Florida? They shut down the Florida shares in one of their many company restructurings, with massive dilution resulting and people that can't even convert/deposit shares they have at their broker.
No wonder the DTCC took action against HRNF.
Just how is HRNF accounting for those shares that people seem to have trouble getting accepted ? (from what shareholders hsave been reporting).
HRNF PROMISED a discount to those that held the restricted shares in the HRNF restructuring offer.
It is even worse now, with the DTCC dropping the cussip for HRNF and all the clearing restriction that have been reinstated.
Mods -please sticky message About regulatory/clearing (DTCC) action taken
This is what Renee does with all other DTCC actions, so please make the message a sticky. Thanks
Share structure (per Pinksheets)
Shares Outstanding 7,289,762,180 a/o Jul 06, 2010
Float 4,500,000,000 a/o Jul 06, 2010
Authorized Shares 10,000,000,000 a/o Jul 06, 2010
Par Value 0.001
Shareholders
Shareholders of Record 103 a/o Jul 06, 2010
Beneficial Shareholders N/A
Corporate Actions
Ex. Date Record Date Pay Date
Security Notes
•Capital Change=shs increased by 3 for 1 split. Pay date=07/31/2000.
•Capital Change=shs increased by 2.7 for 1 split concurrent with name change. Effective date=2-12-03
•Capital Change=shs increased by 10 for 1 split. Effective date=3-21-03
•Capital Change=shs decreased by 1 for 100 split. Pay date=2-20-07.
•Capital Change=shs decreased by 1 for 200 split Pay date=02/25/2008.
•Capital Change=shs decreased by 1 for 300 split. Pay date=03/09/2009.
Small it has issued trillions of (split-adjusted) shares over the last three reverse splits.
And in true HRNF tradition, they will likely get no where near projected revenue and resort to massive dilution. They have to file an authorized share reduction to Delaware. What does their state of incorporation tell you?
Why hasn't the company done what it promised? It promised to provide pink sheets updates already, numerous times, and has failed to do what Pagnano promised.
It also has failed to remove incorrect information (retail partners) from its website, IMO. I wonder how many shares the medical advisory people they promised are getting.....if they actually exist (another promise?)?
And we should believe what you are posting? The evidence of views on shorting (incorrect) make one wonder, IMO. The TA apparently has not even seen the Press release from HRNF, admitting 15 billion shares authorized. If the TA had any concern about the share structure (if there may be a false PR concerning authorized shares), they should have demanded a correction /retraction from HRNF.
It is pretty serious if the TA is unaware of how many shares are authorized.
from HRNF Jan 5 press release
In addition, the board has approved the reduction of the company’s authorized common shares from 15 Billion to 500 Million. Upon the reduction of shares, rule 144 restricted shares will be issued to senior management and certain insiders.
And we should believe what you are posting? The evidence of views on shorting (incorrect) make one wonder, IMO. The TA apparently has not even seen the Press release from HRNF, admitting 15 billion shares authorized. If the TA had any concern about the share structure (if there may be a false PR concerning authorized shares), they should have demanded a correction /retraction from HRNF.
It is pretty serious if the TA is unaware of how many shares are authorized.
from HRNF Jan 5 press release
In addition, the board has approved the reduction of the company’s authorized common shares from 15 Billion to 500 Million. Upon the reduction of shares, rule 144 restricted shares will be issued to senior management and certain insiders.
Why hasn't the company done what it promised? It promised to provide pink sheets updates already, numerous times, and has failed to do what Pagnano promised.
It also has failed to remove incorrect information (retail partners) from its website, IMO. I wonder how many shares the medical advisory people they promised are getting.....if they actually exist (another promise?)?
Authorized shares are 15 billion, per HRNF CEO.
Still no evidence of any buyback, especially since HRNF reports it is almost broke. Almost no cash at all, at last report. Do your own DD.
Alert: Depository Trust info on Heathrow Natural (HRNF)::
http://www.dtcc.com/downloads/legal/imp_notices/2011/nscc/a7147.pdf
So they still have not settled the $4 million judgment?
They say they presented settlement terms, but there is not settlement, ie. the injured party has not agreed?
muga - but hop-on has $0 sales.
No wonder it is approaching no bid, $0.0001 ask.
muga - 5 billion shares authorized? oh noooo!
Nevada says hop-on can only issue 2.49 billion shares, per share authorization amendment.
Doesn'took good for a company to issue more shares than their state of incorporation has authorized.
Interest? NOT. Looks like dilution amid the paid stock promoter hype. The big block selling at $0.0001 is a good clue that someone wants/needs to dump a ton of shares.
Pagnano owed tons of money. Owed almost the entire market cap for his third party loans to the company and deferred compensation/bonuses.
Interesting that Pags was not confident enough in the shares to take restricted shares for what he is owed. Why take shares if you know the dilution you need will drive the share price lower?
Looks like even Pags knows the inevitable reverse split will happen, IMO.
HRNF raising the share authorization to 15 billion shares (up from 10 billion) is also a sign more dilution is coming, IMO.
With HRNF being almost flat broke, at last report, I doubt they can buyback any shares.
The cancelled shares are probably just shares they already issued for services and/or promotion. If they cancelled the services/promotion contracts, they could take back and cancel those shares already issued.
No evidence that HRNF has bought back any shares as part of the shares restructuring plan.
Seven - your update means nothing until the company itself issues financials (unaudited, as usual)and updates pinksheets with current info.
This was supposed to be done by first week in February.
More likely no bid soon
The paid stock promotions seem to be running out of gas.
With no sales and no revenue, HPNN doesn't seem to be anything but a pump/dump candidate. Anyone buying at $0.0001 or high will likely get stuck holding shares not easily sold at any price.
HRNF lists around $3,200 in cash in their coffers.
Hardly enough for a buyback, let alone to pay the hundreds of thousands owed to judgment lien holders.
That's all they had left, even after issuing 1.5 billion more shares for $75,000 during that period.
Cancelled shares - may just be cancelled consulting agreements.
The company did this in the past, cancelling consulting agreements, returning the shares issued and treating them like they never existed.
So far, HRNF has not indicated they have bought back any shares in their latest so-called buyback hype. They only indicated they cancelled some shares.
Big difference.
Not sure HRNF has any money to buy back any shares, anyway.
And the SEC could suspend or revoke shares at any time, IMO, to protect investors.
One would think that claiming that you have more shares issued and outstanding and more authorized shares than you are allowed (per HOP-ON's state of incorporation -Nevada) would be enough.
If HOP-ON has been issuing more unregistered shares since their last pinksheets update, they could face a lot of questions from regulators.
The DTCC drop of HOP-ON could be the signal of more bad news to come, IMO.
Depository Trust info on Heathrow Natural (HRNF):
http://www.dtcc.com/downloads/legal/imp_notices/2011/nscc/a7147.pdf
Yes, I see the big warning from pinksheets (no information warning).
Companies that follow good disclosure practices don't get slapped with that kind of warning to investors.
HRNF cannot buy back shares with proceeds from their dilutive share issuance.
I'm guessing they will reverse split once again. They have left themselves open to that option, even though they indicated there is no "plan" now to R/S.
They also recently warned about equity financing, which is obviously dilutive. 5 days prior to that announcement they claimed no dilution needed.
No evidence HRNF has bought back any shares, as part of their latest announced share restructuring plan.
You may have noticed that HRNF's fluff PR's announcing cancellation of shares do not indicate that any of those shares were part of a buyback.
littlerichie - again, your last post proves there are no issues with shorting.
Also, 0 FTD and no naked shorting issues confirm that what you and others claim is just plain wrong, IMO.
Other securities that were claiming NSS were simply trying to distract from their own problems and blame naked shorts. Often the companies were simply dumping shares on unsuspecting investors.
HRNF has a history of claiming things like "no further dilution", yet they kept dumping billions more shares. They appear to rely on ignorance of unsophisticated investors to buy those dilutive shares. By the time the investors find out what happened, they either cannot sell at any price or have lost so much that they just give up.
little risk? I don't agree.
The DTCC dropping HPNN is enough to cause concern. The $0 revenue/sales is another concern. The Green Frog fund (with no disclosure by HPNN on why those proceeds from dilution were diverted) is another concern.
The FACT that HPNN admits it has issued more than 2.49 billion shares (pink sheets info from HPNN) and 5 billion shares authorized, when Nevada indicates only 2.49 billion shares are authorized is yet another concern.
The DTCC usually doesn't drop a stock unless there are some serious SEC or other regulator issues, IMO.
It was the massive dilution of shares issued by the company at a steep discount. HRNF has never had a shorting or NSS issue. That and arrogance by CEO's that treat their shares like a piggy bank, and provide little timely disclosure.
Fortunately we now see a few more SEC, FINRA, and DTTC actions against companies that put out unrealistic projections while their stock is under distribution (company-issued dilution). Promoters paid by companies or so-called third parties are also seeing regulatory action. Unfortunately, the SEC does not have nearly enough resources to go after most of the violators.
Just one look at HRNF's past revenue projections might give you a clue.
They may be dumping billions of shares as fast as they can. Just look at their dilutive history and the fact they have no revenue.
I agree. even a reverse split won't get him to see what HRNF is/has been doing to shareholders for years.
When you are supposedly supporting the bid and nibbling at the ask, you can often have blinders on to anything that doesn't support the team effort, IMO.
When revenue isn't there and HRNF has to resort to their usual dilutive financing to stay afloat, what then?
At least HRNF has finally warned about more dilution coming, even though that warning came just 5 days after they indicated no dilution.
Well Seven/Ten....when those posting daily short info imply there is a shorting issue, then are PROVEN wrong each time, their credibility is pretty much shot.
No need to tell you why pinks can easily be reported short in the daily, when they likely are not.
There is no shorting or naked shorting issue with HRNF.
Paula, redfisher just did explain it.
Only 1 share short, as of last (confirmed) report.
There are reasons your reports show unreliable data. Redfisher's info is the correct and latest info.
They may have issued billions more shares since last report.
Unfortunately, hop-on claims 5 billion authorized, while their state of incorporation (Nevada) only has authorized 2.49 billion shares.
Why? The paid promoters may want it to go up, but that is usually because there are tons of shares ready to be dumped on anyone gullible enough to pay $0.0002.
Company results sure don't warrant even a $0.0001 share price.
No bid, $0.0001 ask is more likely for HPNN soon.
The billions of shares diluted may continue to be added to the share pool. With no revenue, things can't be going well.
3 shares short, thanks Paula for the confirmation.
I see some are still trying to claim there is shorting of this. I guess if they have nothing else to tout with HRNF, they resort to claiming shorting.
So far, they've been proven wrong each time. No shorting issues with HRNF.
Not many MM's now with trading problems for HRNF
Clearing restricttions, the DTCC dropping the cussip for HRNF from their system, and even the fluff PR's issued have attracted few buyers at these high prices.
Reverse split next? What else can they do? With 20 some billion shares out already, equity-raising from share issuance is gonna be pretty hard to do.
They will probably reverse split, 1:500 or so, and try to dilute again to 20 billion shares, as the share price tanks. OMO, of course.
And then there's the thing about how they've gotten money to run the show. How much of the company has been given away to pay for that? Does anyone know?
Alert - major brokerages refuse to allow ANY trades (buys or sells) of HRNF
Doesn't look good, since HRNF indicates (incorrectly) on their website that they are DTC eligible. The DTCC says they are NOT.
There are no shorts in HRNF. 3 shares confirmed short makes all the conspiracy theorists question the unconfirmed short data they are spewing.
Often unscrupulous stock promoters will try to get gullible people to believe there is a short problem, especially with companies that refuse to provide timely updates/financials and have a proven history of putting out what many believe is misleading hype and projections and even lies.