I submitted a letter of complaint to the SEC on January 2, 2012. On January 3, 2012 I also submitted to the SEC a complaint written by Jerry Gruenbaum. I submitted it at his request. He is an attorney specializing in securities law...He is also the original person who started Heartland by acquiring a company, I believe, called PMI Wireless. Gruenbaum has a history of acquiring distressed companies, ("shells") and creating new ones. Such was the case with Heartland and he currently has another that trades under the symbol CNGI, Concordis Group. He was an officer and board member of Heartland for a number of years.
Jerry detailed several Terry Lee violations in his complaint using the words "fraud" and "conspiracy" in identifying specific actions.
I have not heard from the SEC and I do not know if Jerry Gruenbaum has heard from them.
I saw in a post from Terry Lee dated April 6th he was expecting to hear about a reverse split in 60 days, which would make that date coming up shortly. I would encourage everyone to write to the SEC and ask for an investigation if you feel your investment is at risk.
I do not wish to repeat what you may have already read in my posts but Terry Lee has deliberately driven the stock price down.
Can anyone explain to me why he would affect a reverse split (1 for 2; 46 million to 23 million shares), drive the share price into the cellar while acquiring most of the shares (about 80% between himself, his brother and his sons) then increase the shares outstanding to 56 million and now file for a reverse split of 1 for 2000? Part of the answer is he can drive out most share holders with the split. Most will not hold enough stock to be viable and once under a certain number of shareholders he can take the company private....Have any of you been provided ballots to vote on increasing the number of shares or a reverse split? Have you voted on anything?
It is, in my opinion, a conspiracy to take over Heartland while screwing the shareholders. How can Heartland acquire a bunch of convenience stores and still trade at a penny? Terry once told me the stock did not reflect its true value because the land under the convenience stores is usually the most expensive land in town but not calculated as such in the sock price. There are other reasons affecting the "profitability" of the company. There is alot more to this story and none of it is about creating value for general shareholders.
60 days will be here in about two weeks. Who knows what that will bring. If, indeed, there is to be a reverse split ruling, time is of the essence. Wouldn't it be a shame if you had good intentions and didn't write the SEC? Would it not be a sad day if there were no investigation of Heartland if it turns out there should have been one? Wouldn't it be a shame if Terry Lee and his family were the only ones whose stock eventually held any meaningful value?
News 
Market Data 
Discover 
AI
