Yes HRNF's multiple share deals with Gendarme netted lots of cash for Heathrow. Around $825,000
Here is one of the latest dilution admissions from HRNF, from 2010.
Warrants and Options Exercised
During the three months ended June 30, 2010, options to purchase 1,500,000,000 shares were exercised for cash proceeds of $75,000.
HRNF gave out those shares for around a 50% discount to the share price.
$75,000 / 1,500,000,000 shares = 0.00005 per share
Despite the dilution and cash given to HRNF, HRNF reported only around $3,000 cash left in their coffers.
HRNF has refused to disclose their share deals and how many warrants they issued since June 30 2010. Thus, the big red stop sign "No Information" warning you see when viewing the pinksheets dot com quote.
