NIR v HLNT.
This should get interestin, fast. I've posted about HLNT cause they're in the same class as NIR. Just a backwoods version.
HLNT just settled another suit filded by another Hedge Fund, Whalehaven. The posters on the HLNT board seem to think or want to pretend that this is a sign thst HLNT will beat NIR in court. Thgey are making the claim that since Whalehaven settled for shares it's means whalehaven didn't want cash, will hold the shares and that Whalehaven in doin so believes HLNT will beat NIR in court.
It's a shame that some can be so deceptive or dumb that they would believe any of this nonsense. Whalehaven is a Hedge Fund. Their note gives those they fund the option to pay with shares at a deep discount. The court would uphold that option but force HLNT to pay interest and all attorney fees as contained in Convrt. Notes. Hlnt showed 14k dollars in their bank account so the cash option was pretty funny to even think about. So HLNT settled for 105+ million shares valued at 2.5 + times the original note. I'll be interested to see how many of these are a new preferred class of shares that convert to common at 1 for 10.
This is all of interest because HLNT is in court with NIR over debt that is about 40 times that of Whalehaven. Their claim in that suit revolves around the fact that they believe their own CEO worked deals with NIR. HAVE WE HEARD THIS ONE BEFORE? The other interestin aspect of this is that the HLNT CEO was caught in the same FBI sting opperation that caught actor Larry Wilcox. The CEO is steven Humphries and he is cooperating with the FBI as did Wilcox who received no prison time. The message is loud and clear to Humphries "come up with the goods and you may walk". By the way, after Humphries was caught he named another convicted fraud felon named Mel Robinson as the only company director. Robinson they named his buddies from past deals as additional directors. this well known little Arkansas group then played the Humphries arrest as gettin rid of the past bad guy and now the good guys are in place. YA RIGHT. The group then voted in a class of 100 million preferred shares that convert to common at 1 for 10. A PR'd that they would never increase the company A/S or do a reverse. Now a 105 million shares went to Whalehaven, maybe the preferred and they are in court with NIR regardin over 6 million in Convertable Notes.
Read their board comments and all this is being pumped as a good sign. There's plenty more with this company HLNT. The new groups history is to create debt with lawsuits and the settle with shares. I'll be watchin this one close as are others. This board should watch the NIR v HLNT case close as well as the Humphries testimony on NIR. This one is gonna get good.
