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  • nitesurfa nitesurfa Sep 14, 2009 1:39 PM Flag

    How is HLCS Private Placement reflected

    So this is concerning as it looks like they privately placed the units to an investor and maybe they don't have to report the stock until the investor dumps it into the market... If that is the case then one day we are going to see the shares outstanding jump from 64MM to 130MM and that is about as diluted as one gets....

    Someone needs to call the company or the transfer agent to get an accurate account of this...

    Good Luck

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    • I think the majority of the shares are reflected in the 64 miilion. The outstanding share used to be less than 20 million before the dilution. I bought the shares of this company when the market was less than $10 million and the dilution severly limited my otherwise 18X gains.

      Another part of the "unit" was a warrant to buy shares at 45 cents a share, with each unit entitle 0.6 shares. Therefore, there is possible dilution event down the road.

      That was the worst deal ever, and CFO was outested for this.

      • 2 Replies to tobenotobetobe
      • In hindsight it is easy to sa, but in the cash strapped markets, it make it tough. Especially when they have you by the short and hairs...and they know it. Anyway, went public in 2007, 5.4 mm shares at 9. I thought there was 20.5 mm after the offering. Everything else being equal another 45mm for the private placement would give us the 64mm outstanding which tehn does not reflect for the warrants or another 25mm shares to come potentially?

      • I don't understand this because the prospectus says they had 60MM shares outstanding as of the IPO??

        The 10Q reports the stock being placed last year???

        This concerns me to be honest...

        Good Luck All..

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