You waited so long?
Why are you still using the "FastEddie" moniker?
Just kidding. I don't want to start a flame war. I had to dig up the old press releases, and now I do see why the stock has tanked since the pop. Since the SEC questioned their releases, they backed off of their previous optimistic projections and made a real clean sweep of it. The Lawyers fired off a few salvos, but I think all for naught, the disputed press releases did contain the "safe harbor" clause; "The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby," so the good Barristers appear to be spitting in the wind.
The Sept 28 release is good for a few laughs if you parse it correctly. The ability to read slowly and with full consideration of the final meaning of this sentence plays a large part in realization that no error was made in the release:
"Metals & Arsenic Removal Technology, Inc. (MARTI), a portfolio company of HydroFlo, Inc. (OTC BB:HYRF.OB - News) Values EYII Contract Announced Yesterday (based on 8K filed by EYII) at $210,000,000 Over Next 2 Years."
Parsed:
The guys at Marti think that EYII will get $210,000,000 from EYII's recently signed deal. Marti is a portfolio company of Hydroflo.
Some of the other statements credited to Marti appear to have been erroneous, but far from "material" and especially with respect to the value of the Marti portion of HYRF's holdings. They did shareholders right by stopping the rampant speculation and correcting the errors.
I still think this stock is a bargain, even more so after seeing the reason for the decline. The legal cloud could still be hanging over for some time.
AI
