That is only one of the many reasons to like/hold this stock. We also know that Ihubbers hold at least 1.5 million of the remaining shares.
Note F:
On November 1, 2010, the Company entered into and closed a Shares for Debt Agreement (the “Debt Agreement”) with Gary Lee (a relative of Terry Lee, the Company’s Chief Executive Officer) and Lee Holding Company, L.P. (“Lee Holding Company” and collectively, the “Creditors”).
They were given shares, which I believe the company had purchased, valued at .18. In return, they canceled 2 million in debt - each "lost" one million. If they sell these shares at .50 each (conservative) they make 1.5 million profit each. Good deal for them, good deal for Heartland, good deal for us.
