I do not know what to expect, Aston. It might be a long time and require lots of patience. Or maybe not.
I can't seem to find any dirt on Heritage Financial Systems. They seem like a very large and legitimate financial firm. That doesn't mean some nefarious penny stock promoter couldn't pump it for free, like we saw in some half-hearted attempt last year.
My reasoning for being here is that they want to raise a lot of money, and they have a plan to be a public company. Item 12 and Item 13 on that filing are new SEC requirements. I feel privileged to know about them, because there is no way we would have known otherwise. That's it. The rest will be a vested interest in an unfolding story, IFF it ever happens.
I don't believe the new regulations will allow Heritage to solicit this to a massive on-line audience, by boiler rooms, etc. And they don't seem like the kind of firm that would. The filing, which is in alignment with the new regulation, requires them to solicit only accredited investors. Those would allegedly be sophisticated, liquid, rich, and more knowledgeable. And warrants/options are checked off in addition to equity, so I imagine it will stay private for awhile. It's only a guess, but I'm thinking they get stock first with some sort of exercise price when they go public, and I would imagine with some time restrictions. That's only speculation.
I found a similar filing made with Heritage, but I could never find any penny stock or data of what happened to shareholders. There was a real estate developer whose company name was Warren something, and they filed a Form D listing Heritage in Item 12. Only they raised about 4 times the capital that's being sought here. And it was a private company. The parent company, two long years later, filed a form S-C something or another, registering securities to be sold, but not through an underwriter. Meaning, it's not yet public. It says it may or may not choose to go public in the future. So, all I can say about that deal was that it was legit, and I'm not sure how those shareholders intend to be liquid.
But that's where we are. And I haven't had a in single share executed on my limit order yesterday. But something is indeed in the works. I can't say anything jumps out at me as being illegitimate, and that's not necessarily great for a pump and dump hope. But at a $20,000 market cap, I'm happy with the 22,000 shares I have in this mystery stock. And I would still take another 100,000 just for the heck of it, if I can ever get one share to even execute on that GTC order placed at .012.
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