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No, I don't need a response. The SEC tipline and FINRA are the venues for the question when DD shows that there appears to be no companies by those names and one suspects there may be a false press release again by the company.
I welcome any info that supports the validity of the press release. So far not one person here has been able to confirm the existance of the two "premier" distributors (as HRNF calls them). A simple address and phone number for each would allow confirmation by those doing DD. From my observation, Pagnano seems to provide as little info as possible, so shareholders cannot do adequate DD.....given HRNF's track record with believable info in their press releases (IMO).
superstop - there are no shorts. There is no naked short problem, as disclosed by the company as part of their stock audit.
Of course, you already are aware of this.
What divvy, what name change?
Isn't that what Mario Pino used to try to do. create 2 worthless shells from one?
The SEC is cracking down on co's that try to do this.
Maybe it is more likely they just do a 1:300 reverse split, so the market cap and share price can more easily drop and they can continue dumping dilutive shares, since they are almost flat broke.
It looks like they will need to write-down many of the assets they are currently carrying on their books, also.
gapper - the question would be about the fact that people doing DD cannot seem to be able to confirm that these companies actually exist.
Correct company name, address, telephone number would be helpful for those doing DD.
Morning - still no financials. I guess Tom can't answer that question?
Did hre comment on, since they are almost flate broke, how many shares will be needed to pay for costs?
LEGISLATION WILL HAVE NO AFFECT ON HPNN
They have no viable products or applications for gambling. Not sure if they have any real products for sale anymore.
Float is now 2.6 billion shares, per HRNF
Maybe the last PR was meant to help support the latest round of dilution coming.
I mentioned before that those doing DD should try doing the math. Just how many discounted shares at $0.0003, $0.0002, or less will it take to get the $3 million in financing that HRNF says it is trying to get?
Can you say TENS OF BILLIONS more shares needed?
Will HRNF have to retract the last PR?
Maybe Pags is trying to create a little distribution company in those states, kinda like the Upwon arrangement created with his buddy George Calvi (shares for cash deal disguised as a membership promotion deal).
I can't imagine Target Corp. or Supevalue will like someone associating their respected companies with so-called distributors that no one can seem to find actually exist.
I just wonder where those memberships really went, along with the cash? Upwon supposedly got a cut from every membership they cliamed was sold.....LOL
binkers - A/S raised to 5 billion shares....ouch
Just saw it on pinksheets. Moderator, please update I-BOX with the new share structure. Looks like the dilution nightmare is getting worse.....fast.
Click on "Company Info" tab when viewing the HRNF quote at this link.
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=hrnf
Outstanding Shares
2,600,000,000 as of Oct 9, 2009
Authorized Shares
5,000,000,000 as of Oct 9, 2009
Float(shares)
2,600,000,000 as of Oct 9, 2009
Shareholders should be VERY CONCERNED about that last PR HRNF put out.
They should be asking Pagnano if these co's even exist and ask Pagnano to prove it by listing an address. If Pagnano did, in fact, sign an agreement with these so-called companies; he should be able to verify the address and phone number for both MCIM and TP Global. If he cannot or admits these co's do not really exist, shareholders should contact regulators (FINRA or SEC.GOV's tipline) out of concern for what Pagnano put out to his shareholders.
I'm now wondering if either of these co's have business licenses in those cities? Since Pagnano called them "premier", one would think they would. Maybe "premier" means they don't exist, but may "premier" at some future date? So far, no one has found evidence these co's even exist.
Mikie, please 'splain to us. Was that just to try to gain credibility by mentioning Target Corp. and Supervalue? Remember when you mentioned major networks and the golf channel while dumping billions of shares? Is this just another scheme to allow you to dump billions more shares on unsuspecting investors?
super - company has around $1,500, that's it.
Read their financials. They have no money coming in at all. They have around $3,500 in their customer's money (customer's deposits) from the Paychest payment processing business model failure. Can you imagine they will ever return that money to their customers?
They have not disclose current cash burn rate and how many shares they are dumping to stay afloat.
You can also guess that they will need to start writing down those almost-worthless assets they are still carrying on their books.
If there are no real co's with these names, then the SEC and FINRA should be made aware that there is a potential false and misleading press release issued by the company.
Has anyone found any evidence that there are real companies (distributors) by these names?
A shareholder could also email Pagnano to ask for the addresses and/or telephone numbers for these supposed distributors.
Is there even a real company named TP Global?
This is getting even more suspicious. What is Pagnano trying to do?
Nope - HRNF's PR could be bogus - there is no MCIM Trading in Plymouth, MN.
HRNF is even calling MCIM a "premier distributor". If it is, then why are there no real co's by that name and the Better Business Bureau has no business by that name on its list for Minnesota or anyewhere else in the USA?
Still may check to get Target Corp's general counsel to react the the PR. They often do not like co's claiming or implying relationships with the company and take action to prevent association of their company name with co's that do things like that.
Doesn't appear that Target does biz with any co by that name.
What is HRNF trying to pull?
I remember when this company tried to tout UPWON as the one distributing golf membership for the company. It turned out this was a George Calvi company (Paganano's buddy) and it was more a shares for cash deal disguised as a real WGLF membership releationship.
Calvi is also now a part of Heathrow......the plot thickens, and it doesn't pass the smell test, IMO.
Is HRNF already at their share auth limit of 2.5 billion shares?
Does anyone know if they have already raised the auth to 5 or 10 billion shares (Delaware) so they can continue dilution?
Being at their share auth limit might be the reason the volume has dropped-off. If at their limit, HRNF can't dump more shares until they file a new limit with Delaware.
I'm guessing they will need to raise the limit to at least 15 or 20 billion shares because of their desire to get $3M worth of financing. Do the math to see how many shares at a 20 or 30% discount they will need for $3M.
Schlumpy - it is not Pagnano's EXFUSE. He is only one of the many multilevel marketing scheme (MLM) distributors that paid a fee to the EXFUSE company to be so-called distributors.
As far as the gum goes, it looks mostly like HRNF is doing no manufacturing of the product. It look like they are probably just have a company that already advertises the gum let HRNF put their label on it. That company already offers "sample" blister packs of the gum and helps co's with the packaging art.
I am still of the opinion thsat HRNF's main business model is dumping dilutive shares at steep discounts for cash so they can stay afloat a little longer. Then they just reverse split and dilute even more.
So, no MCM Tading in Plymouth, MN?
In HRNF's latest PR, they indicated that MCM Trading of Plymouth, MN would have so-called distribution rights to Target Corp. and Supervalue stores.
Several search methods reveal no such company in Plymouth, Mn. Search of Minnesota businesses and through the Better Business Bureau reveals no Minnesota or US companies, either. Is this another Pagnano bogus press release?
Also, I guess HRNF doesn't understand Target's rules of doing business. Does Pags really think Target would ever accept a product from HRNF?
Hopefully someone lets Target know Pagnano is doing his little fluff press releases, using Target Corp's name to try to associate a reputable company (Target) with HRNF (questionable management, disclosure practices, and HRNF does not pay its obligations).
Thus, the pinksheets warning about PYCT.
here is the warning, found when clicking on the big red stop sign (no information), when viewing the quote on their site.
Indicates companies that are not able or willing to provide disclosure to the public markets - either to a regulator, an exchange or Pink Sheets. Companies in this category do not make Current Information available via Pink Sheets News Service, or if they do, the available information is older than six months. This category includes defunct companies that have ceased operations as well as 'dark' companies with questionable management and market disclosure practices. Publicly traded companies that are not willing to provide information to investors should be treated with suspicion and their securities should be considered highly risky.
wrong - there are both stock promoters and tout sheets trying to pump this to help people sell at $0.0001.
Now it is only the manipulation that is keeping it from no bid. As long as someone bids for 500 or so shares at $0.0001 the bid stays there. It is not likely to be filled easily because a seller knows that many shares will not even cover the commissions for the trade.
Call the company - they are fully aware of who is being paid
It is also indicated in their disclosure
superstop - maybe you could learn more by:
Going back to time of the higher volume during the pump/dump. Look at some of the posters then. Look at what "club" boards they are posting on. Look at some of their posts during that time on the club boards. You may find your answer here.
You can also see posts from others here during that time that admitted there was an email stock promotion going on during that time, similar to Mario Pino's fax stock promotion pump/dumps.
I hope this helps answer your question.
Maybe that's why Pillay moved operations to BC Canada?
His other company WMDH turned into a grey shell, while PYCT only got a bid due to the stock promotion wenbsites helping with the touting. I wondcer how many shares they got to help shares get unloaded prior to the need for a reverse split.
With 20-some billion shares issued, it is likely this will be right back to no bid soon.
Is there even a company called MCIM Trading in Plymouth, MN?
or is this another one of those Upwon-type companies. Not clear if that company has any distribution with Target stores anywhere in the USA.
schlumpy - get a clue, please
If you did so much DD on other posters here, could you not do enough to avoid getting stuck with 50M HRNF shares? Did you also notice that your propotion of the overall share pool is now miniscule, compared to when you bought your shares? The dilution is now going to get even worse, through HRNF's own admission.
You now know that there are now 2.5 billion shares issued and outstanding.....the latest authorized limit.
HRNF is trying to finance $3 million to "reduce the float". So, the sell shares at a steep discount and supposedly buy them back at a much higher price? What kind of business decision is that?
Maybe you can understand why some post about companies that seem to put out misleading information, all while they are dumping shares on the open market. Some may call it a pump/dump operation. Some may call it touting your own stock so you can avoid disclosure about share structure/dilution, so the stock price that the companies are dumping discounted shares for cash to stay afloat does not fall as fast as it normally would.
Try doing DD on the company and stop blaming people you call bashers. DD would have allowed you to avoid owning such a poorly-managed company.
Doesn't mikie first have to register those shares for the conversion. There is no guarantee that "the board of directors" will vote to approve such registration anytime soon. Thus, "the catch", as you described it.
gapper - they don't have to accept cash or shares from the company. They are still a tout sheet. See old news.
Others, including promoters, do the touting..
S.E.C. Files New Set of Internet Fraud Lawsuits
Published: Friday, February 26, 1999
Securities and Exchange Commission sued 13 people and firms in six states today, contending that they had defrauded investors by using the Internet to pitch companies that paid them to promote the companies' shares.
In the commission's second nationwide crackdown on Internet promoters, it accused authors of on-line newsletters, World Wide Web sites and Internet junk mail with misrepresenting the companies' investment prospects or failing to disclose that they were getting paid by the companies.
The promoters, who purportedly provided unbiased opinions in their stock recommendations, received more than $450,000 and 2.7 million shares of stock and options from the companies, the commission said.
In one case, the commission said that P. Joseph Vertucci, president of Interactive Multimedia Publishers Inc., and a stockbroker, Bruce Straughn, schemed to pump up Interactive's share price by paying publications to promote the stock on the Internet. When Interactive's price rose, the commission charged, Mr. Vertucci, Mr. Straughn and several others sold their shares at a profit. The stock subsequently collapsed and the company ceased operation, the commission said.
In another case, the commission said a former broker, Scott P. Flynn, promoted 10 company stocks on the Stockprofiles.com Web site in exchange for $180,000 and 322,500 shares from the companies. Mr. Flynn's investor relations firm, Strategic Network Development of Minnesota, which was also charged, sent unsolicited electronic mail to 500,000 potential investors recommending low-priced stocks he was paid to tout, the commission said.
In a third case, the S.E.C. said that Arthur Max Ramras and his firm, RCG Capital Market Group Inc., touted nine stocks on its Web site in return for cash and stock options from November 1998 through last month. Mr. Ramras and his firm failed to disclose the compensation arrangement, the S.E.C. said.
In its first Internet fraud sweep in October, the commission filed 23 cases against 44 people and companies.
So HRNF is paying another stock promoter?
Must be getting desperate to dump even more dilutive shares. Maybe thet raised the A/S to 5 or 10 billion shares, too?
They were almost at their 2.5 billion share limit at last report from the T/A.
Shares were being dumped at well below $0.0001 prior to the recent stock promoters trying to pump this thing. Penny stock co's often pay stock promoters with shares to help tout the stock, so even more dilutive sharss can be sold.
This also might be why PYCT gave the updated share count info just prior to the recent message board/paid stock promoter activity increase. Third parties also can pay stock promoters to help them dump shares. The long "NO BID" condition, soon to return to NO BID, may be the reason for the recent pump/dump.
Correct I/R is being paid with shares
No need to call Tom, the facts speak for themselves.
So PYCT is already $5M in debt and doesn't even own the patent? Wow! Plus they have been dumping shares to pay for lots of stuff, too.
It looks like the selling will go on unabated. No wonder the message board pump/dumpers are trying to get the gullible to buy shares. They obviously know there are/will be tons of shares for sale and PYCT probably will require a reverse split soon so they can keep dumping shares and can find a way to pay for operations (they only had around $1,500 or so cash, plus customer deposites they are required to return after the failed Paychest money transfer operations stopped being pursued.
Reverse splin being planned?
Market cap is much too high already, and a reverse split will then allow the PPS to drop 95% or so after the do a 1:300 or so reverse split.
No wonder they can't do timely financials.
Sure, superhoops - pump/dump now being run from the message boards.
How's those spam faxes going, too?
That's ok. There will be little chance to dump your shares once the selling begins in earnest.
super - this company hasn't changed much, IMO
Pino, now Pillay...LOL
Did you notice this company also traded shares with Riverbank.
Wasn't it once Riverbank Investment? At least they obviously caught you in the ruse, IMO.
INVESTIGATE: BOILING MAD!
Penman & Sommerlad
COCKROACHES. Shysters. Spam scum. Shares expert Cromwell Coulson has no shortage of names for the conmen behind a global investment scam.
These are the people who send spam emails urging you to invest in obscure American companies, which anyone in Britain can easily do online.
You can buy the shares through Pink Sheets, the shares service run by Coulson that tracks the prices of small US firms.
The "spam scum", says Coulson, are pushing particular shares because they've bought the same stock already. They want other investors to buy it, too, which will push up the price so the crooks can sell at a profit.
After which, victims will be left with shares that never pay dividends and collapse in value.
We know because for months we've been monitoring the fate of shares touted by spammers. It didn't take long to work out that you could drive a coach and horses between what the spammers promise, and what actually happens to the shares.
Riverbank Investment Corp. "This is going to explode," the spammers gushed in May when the share price was $1.09. Now it's a pitiful 2.5 cents.
Presidents Financial Corp. The spammers ranted: "We have strong feelings about the potential." The price has since slumped from 22c to 2c. CTR Investments and Consulting Inc. "Should out-perform all other picks," the spam raved when the price was 22c. Now it's one third of a cent.
Dark Dynamite Inc. The spam blustered: "A terrific profit opportunity," when the share price was $1.58. It's collapsed to 30c.
KoKo Petroleum. "Should go crazy," foamed the spam when it was $1.20 a share. Investors who bought might have gone crazy - the price now is just 17c.
Infinex Ventures Inc. The spam insisted: "This one is strong" when the price was $1.50. Now it's 60c.
Victims who bought shares in these unwitting disasters were the lucky ones. They might have ended up with shares in companies that have vanished off the radar altogether.
Shares in companies such as GroFeed Inc, "Our next hot pick," according to the spam, Extreme Innovations Inc - "This stock is on the run" - and China World Trade Trade Corporation - a "strong buy" - have all these disappeared from the Pink Sheets.
This is a huge, global fraud and, tragically, a highly lucrative one.
Most people with a computer might delete unwanted messages, but a recent study of 26,000 junk messages touting spam found that enough people fell for the lies to ramp up the prices, netting the villains a fortune.
"Spam works," the study depressingly concluded.
Coulson agrees. "These people are like the creepy guy who goes round bars hitting on women for money," he said. "They wouldn't do it if it didn't work often enough to make it worth their while."
silver - don't like the truth? I guess not. Bury your head in the sand and hope the pump/dump scammers let you dump your shares above $0.0001? Heck, most can't even sell at that price now, if they wanted to.
When you see the message board fools on those little scam boards trying to orchestrate a pump and dump on this one, you know they need every fool they can find to help pull off their scam. I'm not talking about the company pulling a scam, but the ones on the message boards that are now being investigated for numerous pump/dump scams.
Just ask IHUB's Matt how things are going with his little piece of trouble.
There is that "third party" that has paid at leasdyt 150 million HRNF shares to one stock promoter. There is probably close to 1/2 billion shares that have been issued for stock promotion in this latest attempt to fleece investors, IMO.
Investors should read the reason why Natural Harmony Foods decided to dump HRNF deal and then Aplle, the stock promoter that HRNF was using, too. Note that Pagnano put out a completely different story (Press release) well AFTER Natural Harmony put out their news that they dumped Pagnano's company.
See the IBOX, under OTHER IMPORTANT NEWS.
This gives a good representation of what Pagnano does to his shareholders.....repeatedly.
Ernie - Mikie pays professional stock promoters to help dump billions of new shares on unsuspecting investors. We now know that he puts out misleading PR's about not needing dilution, then dumps billions more shares as fast as he can.
He then does reverse splits, so the stock price can tumble even faster and he can dump billions motre shares.
Since there are no naked short issues with PYCT
The scammers are trying to get gullible investors to buy at these high prices. Looks more and more like Mario Pino's scam is now working for a few. Most can't even sell at any price.
Not with 20 billion shares issued. At least, when they announce the likley reverse split, the stock price may have to wait until after the R/S to tank 90% or more because of the bloated share pool.
Just like Mario Pino claimed the company was running well, huh?
But now PYCT has even moved offshore, to canada.
Could it have anything to do with PYCT CEO Pillays problems with his other company WMDH?
He even has a relative that graduated with a BS in accounting from South Africa in 2005. A masters elsewhere in 2008. Liam Pillay is listed as secretary of PYCT on pinksheets dot com.