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IMO, and based upon having held this stock for many, many years, the value (or lack thereof) has been determined for HRNF (and all the previous names) for quite some time. And that value is .0001, though that is true only if one could trade it.
No. I don't think there is any value. I think he bought them back because he was tired of me bothering him all the time.
Hadesdog, He did buy my shares back a few months ago @ .0003.
Wow. This thing is still at .0001. What a shocker. I can't believe people are still promoting this thing (well, I guess they have to try to recoup their money somehow). The only way this is going any higher than .0001/.0002, as some say it will, is if (more like when) it reverse splits. IMO and based upon years of watching this company.
Hadesdog, I agree with you completely. My "poised to move up" comment was sarcasm. It seems that there is always a 'just wait until' something comment whether its for the Golf Channel, PAX, etc. etc., or more recently 'the chill to be lifted.' I know that it's not going anywhere (except down...and yes, it can even though its at .0001...its called the dreaded reverse split).
Well, it's been a month since I was finally able to get out of this stock. At that time this thing was really go to take off if I remember right. LOL. So, I thought I'd check back and see how many people were making money off of this thing....as I can see, it's exactly where it was (or worse off) when I got out. I see though that this thing is still poised to move upward once 'the chill is removed.' LOL. Good luck people. I'll check back again in another month and see where it is (though I won't be shocked to see people still saying "just wait until....")
Thanks, Red. I'll stop by in a few months to see how many people are still waiting and hoping all while ignoring your knowledge about this company obtained via experience and DD. Good luck to you as well, Red.
Yeah, I bought into this company several years ago....2004 or 2005. I can't remember off the top of my head. But, foolishly, I bought into the PR's about share buy back, the golf channel, other cable channels, producing new shows, etc. Needless to say, I don't believe a word that comes out in those PR's anymore...except the ones announcing a name change and reverse split. Those I believe. Anyway, best of luck to you. I will maybe check back in a few months to see how many of the posters on here are still saying "just wait until [insert anything from a PR here]"
Finally got the check from Mike today for the shares he bought back from me. Assuming that it clears, I'm finally out of this for good! My initial $1200 investment many years ago has turned into $135 (that is what Mike offered me and I took it). I'm lucky to get that because Ameritrade wanted nothing to do with my shares. I guess I kept waiting for the "when Mike does....." and "just wait until..." and none of it came true. Only reverse split after reverse split. For those of you on here who think you are going to make any money, let alone get your initial investment back, good luck. I wish you the best.
Yes, I am happy with Mike helping me out. Though I'm still taking a huge loss since investing with this company many years ago, I am satisfied with the offer and am getting out when I can. At least now I can write it off. I'm going to stick around and view the board until I get paid from Mike, but then will be outta here after that. I wish you all good luck though and hope this does as well as some of you think (or hope) it will.
Good News, for me anyway. I spoke to Mike and he has offered to buy back my certificate of 453000 shares. So, I'm mailing it back to him tomorrow. I will be glad to get out of this company for good.
Mike just asked if they (Ameritrade) gave a reason and I told him what I was told. I then said how about buying back all the certificates that he sent out to his shareholders who particpated in the conversion. We'll see what his response is.
Mike just replied and stated "You should be able to deposit with no problem." However, as I posted earlier, there is a problem...they (still) won't accept them. So, I emailed him back and am awaiting his reply again. I am going to speak to the transfer agent here shortly as I may have a buyer for my certificate. I want to see what Mike says though.
And by the way, the certificate I have isn't restricted. The problem is that Ameritrade (and others) don't want to run the risk that my certificate will leave them high 'n dry if they were to accept it and sell it since HRNF (and other pinkies) don't report to the SEC. So, I don't think there is a restriction per se on the certificate itself.
Thanks for the info. I may forward it to Mike, though I'm sure he knows what he needs to do. I did send him an email about 15 minutes ago and asked him again what those of us who got his converted shares are supposed to do. We'll see what he says. I'm guessing he'll refer me to one of the brokers he did last year that require 5-10k to open an account. Ha!
Amen. There is something HRNF could do to help those of us out that bought into their conversion.
That is true, it's not just HRNF but most all pink sheets. What makes me a little mad though is that the company required that I send in the physical cert to them in order to get it converted and then when I get the new certificate back I can't do anything with it.
Ok. Here is what I found out. Yes, you can buy and sell shares of HRNF online because the shares are already held by the brokers. But, YOU CANNOT deposit any physical shares into TD Ameritrade as there are "too many risks" involved with a company that is not reporting to the SEC...I was told that, for example, if TD Ameritrade were to accept my certificate and then sold it and found out the certificate was not valid, they would be held responsible, not me. So, Ameritrade does not want to run the risk of holding a wortheless piece of paper. Just call and talk to anyone in the restricted stocks department...they'll tell you the same thing.
Thanks for the info, but I've got a physical certificate that I am trying to deposit into my Ameritrade account so I can get rid of it...I'm certainly not interested in buying anymore of this company.
Well, apparently NOT any customer service rep could answer that question as the one I talked to could not.
I tried calling. I have to call back in 20 minutes as the "restricted" securities representatives are not into work yet. I'll let you know what I find out.
No. I would rather I speak directly to Ameritrade.
Well, it may be true, 7-10-11. But, nothing personal, I don't trust much I read on this board. So, I'm going to speak to them directly and find out for myself.
Well, let me contact Ameritrade and find out. I'll let you all know what I find out.
Yeah, it's a joke. I emailed Mike several times. Just a week or so ago he sent me a copy of a letter he sent to Ameritrade asking them what he needs to do for them to lift the restriction. However, I can't say for sure if he is really trying or not. He said he had sent letters previously, but the letter he sent me was dated Jan. 5, 2011, so I don't buy that he sent letters before. I can't even say with certainty that he sent this one.
Andy8033,
I took part in this share trade. I pulled my certs from Ameritrade, sent them to Mike, and received my HRNF certificate. The problem then, was that Ameritrade would not accept the HRNF certificate back in my account (see my numerous previous posts about who and why they wouldn't accept them). So, I am left holding 453000 shares of HRNF that I can't sell...that is, unless I want to open an account in one of the brokers Mike recommended that, incidentally, required like 5 or 10k to open an account.
Timbuk2, they are yours if you want them. I have no problem selling right now as 1) I don't think this thing is going anywhere and 2)even if it did, I can't get Ameritrade to take them anyway so I couldn't sell them. You can send me an email at RobZ444@aol.com and we can discuss how you would like to pay for them...I don't subscribe to IH so I can't do a private message. sorry.
Yeah, I don't want to pay more than what the cert is worth to get rid of it. I will have to check into writing it off...I'm pretty sure it's not going to go anywhere close (the PPS that is) to what I need it to get my $1200 back. I'd still be happy to sell to all of you on this board who think this thing is going up. According to some on this board, it's a steal at .0001.
Timbuk2,
I have a certificate for 453,000 shares. As I had told 7-10-11, my initial $1200 investment in this company many years ago is now worth 45.30 (that is, if I could sell it...I guess technically it is worth 0 since I can't deposit it and sell it) due to the power of reverse splits.
I WANT TO SELL! You want to buy my certificate? Ameritrade won't allow me to deposit it. I'll let it go at .0001.
I know, hadesdog. I was just posting what he said...whether or not you want to believe him is another story...I, for one, don't trust what he says much at all.
No, I didn't ask him any of those questions. All he said was what I posted. He seems to reply to emails fairly quickly, so I would suggest emailing him and asking whatever questions you have.
Mike replied to another email inquiry of mine. This time I asked him about filing. He said "In about two weeks. We will file 3Q & 4 Q." We shall see.
Just got another reply from Mike re: why its taken so long for him to try and get the restriction removed at Ameritrade. Here is his reply: "This is the 4th letter sent in 6 months. This was e-mailed directly to the compliance Director.Not much more I can do."
Yeah, Hadesdog, I agree. I sent him another email asking him why it has taken so long for him to make any attempts to get the restriction removed. I haven't heard back yet. I'm not going to quit bothering the guy until I get rid of my certificate.
For what its worth, I received an email from Mike today stating that he has sent a letter to Ameritrade inquiring about what needs to be done to have the restriction removed on HRNF. I would attach the letter but I don't know how. Of course, I can't confirm that it was sent (and I don't trust Mike much at all)...also, it was dated 2 days ago and so I can't but wonder why it has taken so long for him to take some action...I'm pretty sure this was addressed in a PR (and an email to me) quite some time ago.
LOL...that is funny, redfisher!
It can go lower by way of reverse splits...time has proven that.
I didn't say I couldn't "afford" the loss...I just don't like the loss. I know that pinkies/pennies are a gamble. I lost this one. My opinion is that everyone else in this will too, except the CEO. I'm just trying to get out and write it off.
I agree. It is a worthless position. Based upon the history of this company and my experience, my fear is that everyone who has invested in this company has a worthless position. Just my opinion though. Good luck to you as well.