SPO Networks Inc (SPOI)

[Sparks100]

The shareholders of record are the actual holders of the stock certificates. The beneficial shareholders are the ones that actually own the stock. A brokerage house can be the shareholder of record, such as Etrade, and Etrades clients that have bought shares of HLNT are the "beneficial shareholders". If a person wants to, they can verify this with the SEC or the OTC. Just takes a phone call to do the due diligence to prove that information.