Healthier Choices Mgmt Corp (HCMC)

[ChuckBits]

I am NOT defending this company! I lost a ton of money by being an early investor and stupidly holding way too long. I bought $3,300 worth of units with the hope of making some of my losses back. With that said:

1) While I agree the warrants continue to destroy the pps, keep in mind they were available for ANYONE to buy on the Nasdaq for 6 full months. There was nothing "special" as to who could buy them.

2) Us "evil" warrant holders also stand to lose with everyone else. As the pps keeps dropping, so does our converted value and the company has no where near enough cash to pay us and will not have enough shares either.

3) They did NOT increase the A/S to 9 billion. They stated an example of how many shares "would be" required at the stated pps, which is now lower.

4) The 1-70 RS WAS approved by shareholder vote.

5) The 5 billion A/S WAS approved by shareholder vote.

IMHO, You need to read the filings a little slower.

The units were needed to pay off debt and to change their strategy to a retail position. If they didn't raise the $38 million from them, or by some other dilution method, they may have already been toast? Until the 10k comes out, we'll have no idea if the strategy is working.

I do agree the CEO & CFO are either total crooks, or extremely incompetent. They either thought the units would work out due to the pps being waaay higher, or that they would make their Buddy's rich?

And when you talk about the CFO salary, he and the CEO both get that much PLUS they each got at least 1 $100k bonus last year. But wait, there's more! The CEO's dad and 2 of his buddies all got a $50k "fee" PLUS all 3 of them receive $20k PER MONTH in "consulting fees" for locating store locations. So see, they can't use money to pay the warrant holders because they need every penny for themselves, family, & friends!