Dont believe you StLogic, what is your angle?
First of all, if the CRO and board was working against shareholders they would have let the company go to bankruptcy. Second of all, if you had done enough DD and homework to get 18 million shares voting with you then you would know that one of the investors of the recent PP was Magna, the same group that just lent them several hundred thousand more dollars in the 8-Ks recently filed. So, based on this I believe you are a "vulture lawyer" or something similar that is trying to capitalize/sucker people into some shareholder suit that will drain the company's precious remaining resources and get nobody anything except for you paid.
As far as some of the more regular posters like Windough Shopper saying that the CFO and CEO were trying to steal the company I am not sure about this either. I do know that the situation with Heartland seemed to come out of the blue, just weeks after they had successfully renegotiated the terms of their credit line after they had gone into default. I know everyone was shocked when Heartland did an about-face and froze all their A/R and declared them in default. I believe this was done because Heartland was in deep trouble after a lot of their energy sector investments went belly up and was desperate for cash. I also know that Fleming personally owned a nice chunk of stock and he has gotten hurt as much as anyone since no one is getting paid now except the CRO Cross at $750/hr. Him trying to "steal the company" and ruin his equity position dont make sense. I dont know what to make of it except that I am thankful they arent doing a BK and are doing about $600k in revs/month in the Permean Basin. I am hoping when they put out the 10-Q for June which is late that they will clarify things and maybe even have a conference call to update all of us investors.
