Replies to post #11408 on Hyperdynamics Corp (HDYNQ)

[ericshon3]

This company took a nose dive in 6 months and it's not even a pink. I am shorting this dud. So many people got screwed by all of the share offerings they did.

From another poster:
Class action lawsuit for anyone who purchased shares in the past year. That's bad.
Corrupt company that issues shares the whole way down with poor management deserves to be sued

[ericshon3]

This says it all:

Brower Piven Encourages Investors Who Have Losses in Excess of $300,000 From Investment in Hyperdynamics Corporation to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the June 4, 2012 Lead Plaintiff Deadline


http://finance.yahoo.com/news/brower-piven-encourages-investors-losses-191700363.html

[ericshon3]

oops my bad. This says it all:

Down 30% in a week

[ericshon3]

Here is a small bone for ya:


Down 69.68% in 3 months. Can you say ouch!

That is the reality!

[ericshon3]

Sells beat Buys again Friday. By more than double. Look out below.


http://ih.advfn.com/p.php?pid=trades&symbol=hdy

[ericshon3]

wow..this is worse than I thought. LMAO

GET OUT BEFORE IT'S TOO LATE --- Disclosure from the most recent 10-Q:

-- "We identified certain control deficiencies as of June 30, 2011 resulting from the lack of effective detective and monitoring controls being designed within internal control over financial reporting. Such deficiencies related to oversight and review of information as prepared or received from external service providers covering marketable securities, income taxes and equity awards and over the presentation of certain accounting principles. These conditions were manifested in a number of adjustments to the financial statements and related disclosures, and there is more than a remote likelihood that a material misstatement of the financial statements would not have been prevented or detected. The combination of these deficiencies represents a material weakness in our internal controls over financial reporting.

-- In addition we identified certain control deficiencies as of June 30, 2011 in our general computer control environment, resulting from the lack of effective controls around the areas of approval and review of information technology changes and system security, including the enforcement of segregation of duties and appropriate user access restrictions. The combination of these deficiencies represented a material weakness in our internal controls over financial reporting as of June 30, 2011.

-- As a result of these material weaknesses, we concluded that our disclosure controls and procedures were not effective as of June 30, 2011. A material weakness is a deficiency or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or detected and corrected on a timely basis.

-- Our principal executive and principal financial officers concluded that our disclosure controls and procedures were not yet effective at December 31, 2011. ..."