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Friday, June 08, 2012 10:34:42 PM
Here is what HSCO is about:
HSCO did a 1000 to reverse split leaving about 3 million shares outstanding. Including what was held by company criminals, I mean insiders. There are now 260 million outstanding shares. and here is where they came from
Quote:
On March 5, 2012 the Company the Company issued an aggregate of 107,000,000 shares of its Common Stock to 5 individuals/entities, including 40,000,000 shares to Michael Zoyes the Company’s CEO, Presiident and a Director, 20,000,000 shares to Peter Ruggeri, the Company’s CFO and Director and 20,000,000 shares to Dominick Falso, the Company’s COO and Director. These shares were issued as compensation in lieu of salary. The shares were issued in reliance upon the exemptions from the registration requirements of Section 5 of the Securities Act of 1933, as amended (the “Act”), pursuant to Section 4(2) of the Act. The certificates evidencing the above mentioned shares contain a legend (1) stating that the shares have not been registered under the Act and (2) setting forth or referring to the restrictions on transferability and sale of the shares under the Act.
5
In March, 2012 the Company issued an aggregate of 150,000,000 shares of its Common Stock to 11 unaffiliated individuals/entities upon the conversion of $15,000 of outstanding indebtedness. The lenders loaned the Company the monies in 2010. The certificates evidencing the above mentioned shares were issued without legend in that Rule 144 permits the lenders or their assignees to tack back to the date of the debt which was more than one year prior to issuance.
http://www.otcmarkets.com/financialReportViewer?symbol=HSCO&id=82158
257 million shares held by insiders or by those that were paid because of debt. Almost 3 million shares traded today already, which is more than what is held by the public. The massive dilution cycle has begun again. I don't care if people want to gamble, but this deck is stacked against you.
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