Harbor Island Development Corp. (fka HIDC)

[INFINITI]

Traders may have finally woken up to the numerous warning sirens blaring about HIDC. We have covered the stock before and noted some of the more disturbing details. Chief among those, except obviously the huge pump, is that the company's S-1 registration statement contains the name of law firm Carrillo Huettel LLP as legal counsel. For everyone who doesn't follow stock pumps closely, the name may not ring any bells. Penny hunters may remember Carrillo Huettel as the law firm that closed its U.S. offices in late November 2012 and reportedly fled the country, or as the firm that the SEC pressed charges against in March 2013, for participation 'in an international "pump-and-dump" scheme'.

HIDC had under $10 thousand in cash and zero revenues since inception recorded in its last financial report. Even if we leave this fact aside, there are the subsequent 8-K filings, explaining how HIDC's new CEO purchased the rights to a piece of software from a company he 'owns and operates' by issuing 110 million HIDC shares.