"Asset sale of two brands owned by HAON to LTCP for the receipt of 56M restricted LTCP common shares plus 80M LTCP Preferred Stock C shares with a payment value of $3M in 2020. Management intends to dividend out the LTCP Preferred Stock C to HAON shareholders of record at a future date to be announced upon receiving approval from FINRA once the corporate action is submitted."
Dirty dirty move by Bernard Finley to delay the dividend. By delaying it he is forcing HAON shareholders to hold their shares while EROP Capital dilutes stock into the market crushing the HAON share price and diluting the potential value of the LTCP dividend.
I wouldn't be surprised if FINRA rejects the dividend, but even if Bernard Findley ends up submitting the request and it does get approved there would still be little to get excited about.
The Preferred C shares were issued to HAON by LTCP on June 18, 2017, but they weren't designated at the Nevada SOS until September 18, 2017. Based on the limited disclosure offered by Bernard Findley about the conversion rights, the Preferred C shares can't be converted until 3 years later (so either June 18, 2020 or September 17, 2020 depending on if the date of issue is used or date of designation at the Nevada SOS). At that time they can be converted into $.0375/share in cash (only if LTCP is a profitable business - which it is not) or $.0375/share in common stock.
80,000,000 preferred C shares divided up among 4,994,766,271 HAON shares as of September 30, 2017 would be .016 shares for each share of HAON owned. But obviously the HAON outstanding share count has grown a lot since September 30, 2017 as EROP capital has been slowly selling stock towards that $1,929,265.30 judgment.
Since LTCP showed no revenues on its balance sheet for the Quarter ending September 30, 2017 I think its safe to say that they will not be a profitable company in 2020. The two brands that HAON sold to LTCP weren't making any revenues for HAON and they still aren't making any revenues for LTCP. All hype no substance.
So just forget any dreams about receiving cash (assuming the dividend is ever submitted and approved).
So let's move on to the common share scenario. Again let's assume that the dividend eventually gets submitted and approved. And let's say 2020 comes and its finally time to convert the Preferred C shares into common shares. Let's be generous and say that EROP Capital isn't adding to the float affecting the HAON O/S (even though we all know they are) and you actually get .016 shares of Preferred C stock for every HOAN shared own.
At 1,000,000 HOAN shares that is 16,000 preferred C shares
For your 16,000 preferred C shares you'd get $.0375/share worth of LTCP stock so $600 worth of common stock. Sounds good, but not so fast!! You'll have to be able to sell the stock to make money off of it. That won't be easy to do because #1 the shares will be restricted so you'll have to find an attorney to write an attorney letter to submit to the TA to get the legend removed. Attorneys don't do that for free. #2 You'll have to be able to sell the stock at the same price that the stock was valued at when you received it.
LTCP is in the same place that HAON was two years ago. Like HAON, LTCP is seeing its debts grow significantly each quarter. In 2 years LTCP will be where HAON is now fighting to stay above $.0001/share with the outstanding share count flying through the billions towards 10 billion.
80,000,000 preferred C shares converted into $3,000,000 worth of LTCP stock when LTCP is trading in the $.0001 - $.0003/share range is going to be between 10,000,000,000 - 30,000,000,000 shares. If you do manage to get the legend removed good luck selling them before the stock goes to no bid.
And at the rate the HAON O/S is growing (it's probably closer to 6 billion now) the amount of preferred C stock HAON share holders will receive is shrinking by the day. At 6 billion shares outstanding its .013 shares of Preferred C stock for each HAON share owned. At 7 billion shares outstanding its .011 of Preferred C stock for each HAON share owned. At 8 billion shares outstanding it's .01 share of Preferred C stock for each HAON share owned.
1,000,000 HAON shares only becomes 10,000 Preferred C shares which only becomes $375 worth of LTCP restricted common stock.
Every day that passes the illegal 3(a)(10) deal with EROP Capital used to buy The HOPPS Companies (that made a whole $702 during the first 9 months of 2017) is not only hurting the HAON investment that Bernard Findley is forcing HAON shareholders to hold to get the LTCP dividend. It is also hurting the LTCP investment (assuming the dividend ever gets submitted and approved).
I will be surprised if the dividend ever happens. I've seen way way more stinky pinkies like HAON fail at delivering dividends over the years than I have seen them succeed.
As far as the buyback goes. I see that in the quarterly report, HAON disclosed that no shares have been bought back yet.
I also see that they only had $121 in cash as of September 30, 2017.
I also see that The HOPPS Companies only brought with it $39,724 in cash as of September, 2017
I also see that The HOPPS Companies only made $702 during the first 9 months of 2017 (after costs of goods and costs of operations). So the HOPPS Companies isn't exactly running a business that is going to be adding very much cash to the picture.
I also see that HAON was carrying $6,404,906 in expenses as of September 30, 2017. Even if we subtract the $457,559.20 in expenses that EROP Capital paid off, that's still nearly $6 million in liabilities including about $3.7 million in debt Notes.
How much cash do you think will be left from that $39,965 they had on the books as of September 30, 2017 after covering the $6 million dollars in expenses owed? You don't have to be a genius to figure out the math doesn't work for HAON to be able to buy back even 1 share off the open market especially since Nevada State Law says you cannot buy back shares if you do not have the cash to pay off your liabilities first.
HAON might be the stinkiest pinky out there right now. This Bernard Findley is something else. How does he sleep at night?
News 
Market Data 
Discover 
