Can't trust HRNF or Pagnano - beware
HRNF still owes prize winners' money, numerous judgment liens against the company, too.
Now he is diluting faster than ever before - dumping billions of shares on the unsuspecting that believed him when he commented that and the re-purchase of shares.....apparently he lied about getting the float down....surprised? Read part of a couple press releases HRNF spewed....LOL...still believe Pagnano's BS?
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Excerpt:
Heathrow Natural Food & Beverage, Inc. to Initiate Stock Re-Purchase Plan
Heathrow Natural Food & Beverage, Inc. to Initiate Stock Re-Purchase Plan
Effective April 20, 2009
LAKE MARY, FL -- (Marketwire) -- 04/16/09 -- Heathrow Natural Food & Beverage, Inc. (PINKSHEETS: HRNF) is pleased to announce that it will begin the previously announced common stock re-purchase program effective Monday, April 20, 2009. HNFB plans to purchase up to 350 million shares over the next several months, reducing the outstanding float to approximately 75 million. Shares will be purchased on the open market consistent with the SEC guidelines set for stock re-purchase plans. HNFB may seek the assistance of a third party to affect the plan.
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excerpt:
Heathrow Natural Food & Beverage, Inc. Announces Share Structure
Heathrow Natural Food & Beverage, Inc. Announces Share Structure
220,146,013 Outstanding -- of Which 150,000,000 Is Restricted -- 70,146,013 in Float
LAKE MARY, FL -- (Marketwire) -- 03/24/09 -- Heathrow Natural Food & Beverage, Inc. (PINKSHEETS: HRNF) is pleased to announce the current share structure as of today, as verified by its transfer agent. The current common shares outstanding are 220,146,013, of which 150,000,000 are restricted until March 20, 2010. The float as of today is 70,146,013. The company does not plan on raising the float above 20% of it's authorized of 750,000,000 or 150,000,000. These additional shares will be used to retire the outstanding note with DLC Capital of $125,000, which will make the company debt free and not require the further dilution of shares to pay down debt.
"With revenues expected to satisfy the companies capital needs over the next several years, convertible debt which causes tremendous dilution will not be necessary. As revenues permit, the company will initiate a share buyback program to bring the float down to 10% of authorized shares or 75,000,000. We strive to create shareholder value both through our share structure and Heathrow Natural Super Food products," said Michael Pagnano, CEO of Heathrow Natural Food & Beverage, Inc. "We will keep shareholders informed on a regular basis going forward though both press releases and the Investor Relations section of the companies new web site which is under development."
AI
