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Replies to post #95795 on SPO Networks Inc (SPOI)
01/16/13 2:18 PM
Other than that, HLNT may file cases as to issues of libel and slander, and for economic interference, if it is deemed appropriate to do so.
Other than that, HLNT may file cases as to issues of libel and slander, and for economic interference, if it is deemed appropriate to do so.
01/18/13 2:31 AM
How long do you think it will take until HLNT is fully reporting. They only have to report for the last 2 years correct?
There are two reporting levels for filings, the SEC's standard and the OTC's alternative standard (The OTC also follows the SEC standard where companies are able to do so, but the alternative standard simply allows the filing to be done unaudited.). In either standard, a large part of the reporting is the transactions concerning stock. For many companies, the lack of filing or failure to file is financially related, but in HLNT's position, the lack of information from Humhpries, especially as to all the wheeling and dealing before Robinson and Foster became directors, is what most concerns HLNT. Supposedly, from Humphries filings in the New York case, he had sent several binders of documents to the FBI(?) which contained stock transactions as well. That is the information that he is supposed to have provided all, or in part, to HLNT attorneys. This is not a case where some numbers can be guessed at and thrown together for reporting, and while the T/A has information on the shares outstanding, they don't have the ability to determine if any of those shares were issued for invalid reasons. Remember, Humphries was caught forging signatures for stock issuances since he wasn't getting any funding from Ribotsky. I have not heard about the status of the documents received, but I have heard from Mr. Zeller that they are working on the OTC alternative filing and would like to get it finished. But I don't have any more information than that.
But as to your question, once they (HLNT) have determined that they have all the supporting documetation, it could take about a couple of weeks to finish the write up and submission. In other words, it could happen during this quarter.
So after the Walters/Humphries suits are complete that is it for any existing suits against HLNT correct?
What is our potential exposure with these suits to your best guestimate?
How long do you think it will take until HLNT is fully reporting. They only have to report for the last 2 years correct? They have all that data as Chad has been in control for almost 3 years now and for 2 full reporting years. I realize it is expensive to get audited fins and a great deal of funds are necessarily going to the lawyers for settling the last of the law suits but until we are reporting the credibility of our financial state will always be called into question. Up listing will not be a possibility until this has been achieved. I would hope that if they are going to repurchase stock to bring the float down that they will see fit to do it before they do the audited fins.
Just some random musings and thanks for all the information that you have given the investors of HLNT over the past couple of years. It truly is appreciated as it has kept me here as well as Casaprops information.
HLNT
AI
