Replies to post #32360 on SPO Networks Inc (SPOI)

[danceswithmoney]

We've discussed this before xray.

Let me ask you this. Have you called the company?

[Nikodemos]

....I've posted it, I think, twice before.

Prove to me that Hlnt owns Hoss.

Now that didn't take LONG for someone to prove it eh? Imagine if you did
your own DD what you'd find. Especially since you obviously went
through the trouble of posting it twice (but not finding the answer
for yourself....? Strange, no?)


Anyway, while were on the topic of DD I have a question for you. What do
you make of this?

http://www.reuters.com/article/2011/01/28/us-nirgroup-hedgefunds-idUSTRE70R79I20110128

NIR Group seeks to calm nerves as probe widens

By Matthew Goldstein
NEW YORK | Fri Jan 28, 2011 2:43pm EST
(Reuters) - Hedge fund manager Corey Ribotsky recently sent a
letter to his investors in his NIR Group telling them he has been
the subject of "rumor and innuendo" and that his firm did nothing
wrong.

Ribotsky wrote to his clients -- a relatively rare occurrence --
nearly a year after the initial disclosure that his $750 million
hedge fund was being investigated by federal prosecutors for
allegedly inflating returns.

"We are forwarding this letter in order to attempt to alleviate
some of the concerns you may have," Ribotsky said in the January
14 letter to investors in his Roslyn, New York-based fund. "We do
not believe NIR has engaged in any wrongdoing, and NIR continues
to cooperate fully in the governmental investigation."

Despite Ribotsky's assurances, there are indications that U.S.
authorities are stepping up their inquiry, said people familiar
with the situation, who declined to be identified because of
the sensitivity of the matter.

Earlier this month, federal prosecutors in Brooklyn, New York,
postponed the January 7 sentencing of Daryl Dworkin, a former NIR
analyst, who pleaded guilty last summer to securities fraud and
agreed to cooperate with authorities. The new sentencing date for
Dworkin is July 15.

The long-running investigation has cast a cloud over the 40-
year-old Ribotsky, whose hedge fund once was one of the biggest
providers of financing to so-called penny stock companies.

Before the financial crisis, Ribotsky also made a name for
himself by managing about $3 billion in mortgage securities backed
by subprime home loans. Most of those CDOs, arranged by Merrill
Lynch, now part of Bank of America Corp, are now worthless.

'MATERIAL FALSE STATEMENTS'

Ribotsky's attorney, Jordan Hershman, a partner with Bingham
McCutchen in Boston, reiterated much of what his client said in
the letter to investors. He said Ribotsky and NIR Group "do not
believe that they have engaged in any wrongdoing."

Last July, in pleading guilty, Dworkin told a federal judge
that he, Ribotsky and others "would make material false statements
and omissions to NIR's investors and their representatives" about
the performance of the firm's funds, according to a court
transcript.

Dworkin pleaded guilty to taking kickbacks from "deal finders,"
who brought investment opportunities to the hedge fund.
Dworkin said he tried to hide those kickbacks from the fund's
senior management.

NIR Group, which once managed nearly $1 billion, invests mainly in
PIPEs, or private investments in public equity -- a type of
financing popular with cash-strapped penny stock companies.

Dworkin's lawyer, Jonathan Marks, declined to comment on the kind
of cooperation his client is providing to federal authorities. A
spokesman for Brooklyn U.S. Attorney Loretta Lynch also would not
comment.

Legal experts said it is not uncommon for prosecutors to postpone
sentencing of a cooperating witness until after an investigation
is over.

Investors in Ribotsky's fund have been mostly unable to get
their money back since November 2008. Like many hedge
funds during the financial crisis, Ribotsky suspended redemptions
or "gated" his fund.

'FANCIFUL' HOLDINGS

But the gate has remained in place longer than most investors
expected and that has precipitated several investor lawsuits, one
of which is being closely watched by federal authorities,
sources said.

In December, a New York state judge had directed Ribotsky to let
lawyers for Palmetto Partners -- an investment vehicle for wealthy
investor Steven Mizel -- to take his deposition. Palmetto,
which is trying to redeem a $1.7 million investment, claims the
valuations NIR group placed on its small-cap holdings were
"fanciful."

Ribotsky's deposition, scheduled for January 28, was postponed
because of this week's big Northeastern U.S. snowstorm, said a
person familiar with the situation. Joel Feffer, the lawyer
for Palmetto Partners, declined to comment.

A person familiar with the litigation said federal authorities are
interested in the deposition to see what, if anything, Ribotsky
testifies to on the issue of valuations.

Ribotsky, in his January 14 investor letter, said the suspension
of redemptions in 2008 was necessary to preserve the fund. He
likened himself to a "captain" navigating a ship through a
terrible storm and expressed dismay at how his name "has been
maligned in the press."

(Reported by Matthew Goldstein, editing by Matthew Lewis)
http://www.reuters.com/article/2011/01/28/us-nirgroup-hedgefunds-idUSTRE70R79I20110128
==================================================================

Now I wonder if you too have any ties to The NIR Group? In the
interest of full disclosure "xrayview" I am a shareholder of HLNT
and am curious if you are too? If not, then what is YOUR interest
in HLNT. Thanks, you know...inquiring minds & whatnot...