New Horizons Holdings (fka NHHI)

[tfant53]

July 29th Webinar

4profit
Global Moderator

Eye Saw That

Posts: 2,051

July 29th Webinars 12 hours ago tfant53 likes this
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Post by 4profit on 12 hours ago
Apologize, hopefully someone caught more than I did about NHE

Texas, where Steve has been residing for 2 years, had bad rains, tornado weather that delayed some of the progress on the wells. He said they may sell the 300 wells before they take possession of them for a significant price. I think he said, in some other things he hasn't obtained yet, a number they were talking about would be selling 1/4 for $5,000,000. The engineer likes the 64 wells deal and wants in. The analytic engineer report hasn't been finished yet and will cost about $15,000. Steve may consider to give him a small in to save up front costs, that is yet to be determined or worked out.

Phase One is closed, in about six months another offering will be available. Steve did refund monies to 3 investors who had unforeseen things occur and needed the money elsewhere. That's because not all the funds were utilized. In Phase Two they may need to use all the funding. He spoke about cameras to display the wells producing and it can be expensive, he would like to do it.

He spoke about taking video footage and pictures. Uncle Melvin got on mic during the NHHI webinar and said he would do it for free and he and Steve will be speaking about that next week.

NHHI

To get to the part first, many are interested in, Steve asked Bill Frizzell about the naked short. Bill gave Steve the same information that he had from May 2005. Steve didn't read it all but Bill said it would be he thought less significant than in 2005. Bill also agreed (like he and Kevin did in FAQ's on the website years ago) that trading again is the answer to the naked shorting. He added as a last sentence about naked shorting if, there is. So the answer is what Steve and we keep saying, a return to trading. Steve said he didn't know if it was right or not but brokers removed shares, Frizzell offered no concrete number, as worthless from accounts. The SEC is strongly opposed to an organized squeeze and Steve would not do that. What Steve would do is arrange a meeting with whoever is running the SEC today and some senators to show he is not attempting an organized squeeze and get the answer to the burning question, would regulators enforce the rules about a naked short if one exists in CMKM? It's been 11 years, the statute of limitations has passed so that would be a good plan to arrive at the truth once and for all. This would not be until ready to trade again as we need to build up business and value.

Collections

Steve wishes he could say more because it is quite interesting with everything going on. He will be able to after litigations. They have the deed to a property and 3 days later, the real estate agent called and said they have a qualified buyer for full price. Steve asked the agent if he was pulling his leg but it was genuine. He was very happy. Problem, the title company involved was uneasy about the title so NHHI looks to have to go to court with what's termed a Quiet Title Action which could take 90 days to 6 months. Defendants did all kinds of frauds but more so when an alleged criminal is very intelligent, as a couple of ours are and put safeguards in place even if he got caught, it's somewhat of an obstacle. It's all these things that slow down the recovery process. They will do what they have to do to insure a clean title, it's just the way it is regarding CMKM stolen assets and what the company has to go through in the recovery process. They have lots more irons in the fire and intend to act on all of them. As this goes on, regarding the recovery process Steve sees more and more the true damage, especially regarding someone who has already pled guilty, he knows what they did. He pretty much said paraphrasing, they aren't backing off and will do what it takes for the return of assets. The collection company and attorney are doing a great job.

He spoke about the trial most likely being delayed again, explaining the last information Steve had was Edwards had not left yet for his evaluation. He may have in the interim and that’s for 45 days. He spoke about the government not wanting to split them off for trial , wanting to try them all together. From the information the company has, Steve thinks they have an excellent case and is confident the DOJ will win convictions. He mentioned the plea agreements, being surprised Turino is considering one. He doesn’t think Edwards will plead.

Steve spoke about recently giving the DOJ something that helps prosecute Edwards. The company intends to notify them about everything the company finds Edwards did (hiding assets)

That's the short of it, if I think of more, will add. Maybe someone took notes, this is just from what I recall. Sound was difficult at times.


Read more: http://tfant53.proboards.com/thread/11093/july-29th-webinars#ixzz4FuQs1bsy