Hondo Minerals (fka HMNC)

[Cobra Kai]

This says a lot- Original unsolicited buyout offer from Zouvas of Magnolia Hill resources...Zouvas last name also attorney on for HMNC?? not sure what to make of all of it?

2 buyout offers both cause a spike in pricing- and then right back down- almost seems like a cheap way to have a promo??

Hondo's 10Q out; still no gold, pay raise for CEO!
yahoo.brand.edgar-online.com/DisplayFiling.aspx?dcn=0001387131-12-003561

Highlights of the 10Q:

- Cash on hand now $22K, down from $2 mil. in 2011
- Executive compensation now $1.37 mil., up from $815K in 2011
- CEO compensation $870K, up from $635K in 2011
- No revenue
- No mention of NOVs from ADEQ (they claim exemption from reporting business risk)
- Very recent legal action by IronRidge to force Hondo to issue them more shares (decision pending)

Interesting that executive compensation is way up, at a time when share price is way down, and almost no cash on hand. I wonder what that means?