Post from RB message board. Looks like predictions of massive dilution came true, amid hype by the company about so-called buybacks (all the while they were dumping shares by the billions and raising the share auth.)
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By: rs4racing
19 Oct 2009, 01:44 PM EDT
Rating: Msg. 5033 of 5056
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HRNF - forced to raise share authorization
They now havew 5 billion shares authorized, and their current outstanding share count is well above 2.6 billion shares.
Apparently, investors who believed Pagnano's buyback and no dilution needed press releases now see their shares worth even less, and are a muvch tinier shares of the bloated share pool.
They may need to raise the share auth to 10 billion,, then 15 billion soon.
The share price is already headed toward $0.0001, then will be NO BID as the dilution increases at a horrid pace.
