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Post# of 41474
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janice shell

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Re: SevenTenEleven post# 41341

Tuesday, 09/23/2014 2:55:03 PM

Tuesday, September 23, 2014 2:55:03 PM

Post# of 41474
OTCMarkets last heard from HRNF in 2010, it seems. At that time, the TA was Registrar and Transfer Company, which has also been charged by the SEC. Read the notice, and read the complaint:

http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370543021551#.VCHAU0u0Kf2

Evidently Pagnano didn't even bother to submit opinion letters for his stock issuances, and R&T issued the stock anyway.

This is likely to create problems for a lot of OTC companies. R&T has quite a few clients. They'll probably not want to be its clients anymore, unless R&T can show that one or two specific employees were colluding with Pagnano. Even so, the firm will be sanctioned.

http://www.otcmarkets.com/research/service-provider/Registrar-&-Transfer-Co.?id=2346&b=n&filterOn=6
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