HRNF -were 35 million shares outstanding in March 2009
now there are between 7.2 billion to 10 billion shares out.
Remember this hype PR from Pagnano
Now you know why many choose to NOT believe much that Pags spews.
Heathrow Natural Food & Beverage, Inc. Board of Directors Approves 95% Reduction in Authorized Shares From 15 Billion to 750 Mil
Date : 03/16/2009 @ 8:30AM
Source : MarketWire
Stock : Heathrow Natural Food & amp; Beverage, Inc. (HRNF)
Quote : 0.0019 0.0 (0.00%) @ 8:31AM
Heathrow Natural Food & Beverage, Inc. Board of Directors Approves 95% Reduction in Authorized Shares From 15 Billion to 750 Mil
LAKE MARY, FL -- (Marketwire) -- 03/16/09 -- Heathrow Natural Food & Beverage, Inc.
(PINKSHEETS: HRNF) is pleased to announce that its board of directors has unanimously approved a reduction in its authorized shares from 15 Billion to 750 Million. This 95% reduction reflects a focus on returning shareholder value and limiting any future dilution of HRNF shares. With only 35 Million shares outstanding, Heathrow Natural Food & Beverage, Inc.
will focus on several major acquisitions in the wellness food market as well as the promotion of the summer national airing of the WGL Million Dollar Shootout (MDSO) reality television series.
"With our debt now at manageable levels, it is not necessary to maintain such a high level of authorized common shares. The company will soon be able to sustain its growth from earned revenue and will not be in a position to have to raise capital from the dilution of its common shares in any form," said Michael Pagnano, CEO of Heathrow Natural Food & Beverage, Inc. The explosive growth of Exfuze www.exfuze.com/heathrow, coupled with the MDSO national airing and several planned food and beverage acquisitions/partnerships will provide the platform to profitability and shareholder value for 2009 and beyond. We value the continued support of our 6,000 plus shareholders and look forward to restoring confidence and value as we move forward with our strategic objectives.
About Heathrow Natural Food & Beverage, Inc.:
Heathrow Natural Food & Beverage, Inc., is a national distributor of natural food products such as Exfuze, a very popular nutritional beverage.
HNFB is based in Florida and generates revenue through online and call center sales. HNFB also owns WGL Entertainment, the producer of the WGL Million Dollar Shootout reality television series.
Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
Contact:
Heathrow Natural Food & Beverage, Inc.
