1.Recently RM done. 2.300 million $ cash in hand 3.Soon No debt announced 4.has 25% ownership over MGLG (1+$ stock as of today) 5. Moves very fast 6. 300 million cash and plans to be announced around March 15. 7. Symbol change might be there 8. Dipped recently from highs of .06+ on news 9. News anytime now
IMO time to load da boat
Posts: 461 | Registered: Jul 2006
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Posted by: neilhk In reply to: None Date:3/3/2007 2:57:53 AM Post #of 397
I have been going through the company reports from last year to try and find some answers to some of the questions and concerns that people have brought up. There is quite a bit of detail in the following, so if people are still open minded to find out more then please read on.
If anyone has any constructive comments it would be great to hear them. Let’s have some real DD here again please.
The following looks at the share structure, ownership, share price and volume from December 2005 to present day.
Firstly, company share price in December 2005 was c. $0.04 pps. This is important as various parties invested money into the company in the period to end December 2005 as follows:
A. Gwendolyn Carol Johnson = Invested $495, 606 in the period until December 31st 2005 for which she received 9, 856, 506 shares = Cost basis of $0.0502 ppps
B. First Independent Financial Group (FIFG) = Invested $181, 935 in the period until December 31st 2005 for which they received 6, 500, 000 shares = Cost basis of 0.028 ppps
[It is worth noting that FIFG owns 65.5% of the OS shares of HPCP equal to 103 500 000 as of September 30th 2006. This company was bought for 100 million shares initially by HCPC. The Directors of FIFG are Gwendolyn Carol Johnsosn and Walter Hinchcliffe. It subsequently acquired an additional 6.5 million shares for $181, 935 as stated above]
C. Ed Johnson (Husband of Gwendolyn Carol Johnson) = Invested $1, 465, 114 in the period until December 31st 2005 for which he received 11 326 506 shares = Cost basis of $0.129 ppps
[He was subsequently issued an additional 20, 000, 300 shares by the company on March 31st 2006 as stated in the Quarterly Report for the period ending June 30th 2006. This brought his total shareholding to 38, 546, 383 shares = Revised cost basis of $0.038 pps. The cost basis was therefore brought in line with the others. You can argue the legitimacy of this additional share issue by the company, but it seems as though it was done to be comparable with the other investors.]
During the period from 31st December 2005 to September 30th 2006, the OS shares of the Company increased by 25 831 799 (From 137, 203, 543 to 163, 035, 342, see below for more details). This is more or less accounted for by the following:
Ed Johnson = + 26, 157, 377 (including the 20, 000, 300 issued by the Company on 31st March 2006 as mentioned above. I think the additional 6 157 077 shares could in part be accounted for by the change in his wifes holdings, see comments below) Ryan Braddock= + 1, 013, 000 Richard Razecca= = + 232, 000 Johanna Daye= + 52k Gwendolyn Carol Johnson = - 4, 143, 000 (From 9, 856, 506 to 5 713 506)
During the period from 31st December 2005 to September 30th 2006 the total volume of shares traded for HPCP was just 700k. It would appear, therefore, that despite the large increase in OS during this period, these shares were not finding there way onto the open market. In fact, during that period there was insider buying as well as the addition to Ed Johnson’s holding. IMO the large change in share ownership of Gwendolyn Carol Johnson during this period is most probably accounted for by her assigning them to her husband, Ed Johnson. It certainly doesn’t appear that she sold them on the open market given the volume in that period, and given the increase in his shareholding relative to the increase in the OS and the other insider buying as mentioned above. Ed Johnson’s share ownership remained unchanged from June 30th 2006 filing through to September 30th 2006 according to the company filing.
So what has happened since September 30th 2006? We need to receive further filings from the company in order to gain a better picture, assuming the filings are accurate (no more comments needed on that for now:).
We do know that Ed Johnson filed to sell some of his shares on December 13th 2006, as detailed on Charlaton's post # 240.
Details as follows:
Insider Transaction History Transaction Date Name/ Position Transaction Type Current Average 6 Month Return Market Value Shares Price Range Total Holdings December 13, 2006 Johnson, Ed Beneficial Owners Planned Sale -- $126.3K 1,578,600.00 -- - --
The above planned sale for $126.3 k equates to $0.08 pps assuming that is he sold them all for that price. The share price on 13th December 2006 was $0.08. In reality that is unlikely as the share price dropped significantly in subsequent days down to 0.04 on low volume. In 7 trading days (including the 13th December) the share price dropped from 0.08 down to 0.04 on 850 k volume. With an initial cost basis of 0.038 pps based on his initial purchase as stated above, the most he would have made would have been c. $ 66k (assuming all were sold at 0.08). In reality given the trading volume and price this would not have been possible.
Now I am not trying to defend the guy or his previous track record, but to me this does not look like a dollar figure of someone trying to exploit his position. The share price the month before (November 2006) was c. $0.20, so if anything he missed out on a better opportunity. It is possible he didn’t sell them all at that time, but waited for the recent price pop. But the highest it got to last week was just $ 0.06 pps.
As far as I am aware, there have not been filings for sales from insiders or other significant holders since.
So based on the above, it does not seem that anyone in the company or closely associated with it, made any significant money in the period up until the end of 2006. However, according to company filings, insiders and Ed Johnson added to their positions up, until September 30th 2006 anyway.
The question I now have is what is happening with the share price and volume over the last week? The large increase in volume did not as some have pointed out, lead to as large an increase in share price as might have been expected given the float size.
Two scenarios are possible imo:
A. Company was selling shares into the large increase in demand and so increasing the OS/ Float. As far as I know the AS still remains at 250 million shares. OS was 163, 035, 342 as of 30th September 2006
B. The MM’s were shorting/ naked shorting into the huge relative increase in volume to moderate the share price increase and because they did not have sufficient supply of shares given the low float. If that is the case, MM’s subsequently bringing the price right back down to try and shake shares to cover their short position could explain the drop in price as well as the usual supply/ demand issues. Worth watching Reg SHO list to see if HCPC gets added, if this is the case.
So until the end of 2006, I do not see evidence of insiders selling significant quantities of shares and ‘cashing in’. Several insiders in fact added to their positions. Ed Johnson’s planned sale noted in December 13h filing would have made him much less than $66k. I don’t pretend to know all the answers and am still open minded on this to still ask questions. I understand people’s concerns with regard to previous dealings of the Directors, but what I am looking for is some DD on the 'here and now', concerning this company and it’s future.
Insiders are buying. Those insiders who have shares already are not selling. Ed Johnson has filed to sell a few, but for a relatively small amount of cash return.......one of the above scenarios A and B may be correct, there may be others...
So again, constructive comments are welcome. Closed minds and extremist views, however, will fall on deaf ears:) ________________________________________________________________________
The following is a summary of share structure for the period from December 31st 2005 to September 30th 2006.
Share Structure
December 31st 2005 AS: 250 million OS: 137, 203, 543 Float: 10, 960 530 (of which all but 3.79 million held in Escrow)
Insiders = 113 848 006 Ed Johnson: 12, 389, 006 Insiders + Ed Johnson = 126, 234, 012
June 30th 2006 AS: 250 million OS: 159, 063, 842 Float: 9, 867, 453
Insiders: 110, 650, 006 (Gwendolyn Carol Johnson = 5, 713, 506) Ed Johnson: 38, 546, 383 Insiders + Ed Johnson = 149,196,389
Key notes: Changes to Insider and Ed Johnson share holding. Ryan Braddock = + 975k J. Daye = + 6k Gwendolyn Carol Johnson = - 4.143 million Ed Johnson = + 26, 157 377 (including 20, 000, 300 issued by the company on March 29th 2006 as stated in Quarterly Report for period ending 30th June 2006)
September 30th 2006 AS: 250 million OS: 163, 035, 342 Float: 14, 178, 475
Insiders: 110, 310, 484 Ed Johnson: 38, 546, 383 Insiders + Ed Johnson = 148,856, 867
Key notes: Changes to Insider and Ed Johnson share holding. Richard Razzeca= + 232k Ryan Braddock = + 38k J Daye = +46k Ed Johnson = (No Change)
-------------------- To reach hill top start from the top Posts: 461 | Registered: Jul 2006
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Press Release Source: Heritage Capital Credit Corporation
Heritage Capital Credit Corporation Posts 2006 Financials With Reduction in Quarterly and Year End Losses Monday March 19, 10:13 am ET -- Reduction of 4th Quarter Loss by $516 Thousand -- Reduction of Year Ending Loss by $710 Thousand
WILMINGTON, Del.--(BUSINESS WIRE)--Heritage Capital Credit Corporation (OTC:HCPC - News) published its 2006 year end financial statements, whereby its net earnings per share in 2006 were ($.004) versus ($.010) as adjusted in 2005. ADVERTISEMENT
The year end Financial and Disclosure Statement reflects a fourth quarter loss of $134 thousand or ($.001) per share, fully diluted at December 31, 2006. This is a reduction of $516 thousand from its 2005 fourth quarter loss of $650 thousand or ($.01) per share fully diluted. HCPC had a 2006 year end loss of $690 thousand or a ($.004) per share fully diluted reduction of $710 thousand from its 2005 year end loss of $1.4 million or ($.012) per share fully diluted.
To view the year-end Financial and Disclosure statement, visit www.pinksheets.com.
About Heritage Capital Credit Corporation
Heritage is a holding company, which through its subsidiary, Independent Capital Credit Corporation is engaged in the commercial property lending business as well as in other financial services that are in large part associated with the real estate industry.
Certain statements in this news release may contain "forward looking" information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. There can be no assurance that such forward-looking statements will be accurate and actual results and future events could differ materially from those anticipated in such statements.
Contact: Heritage Capital Credit Corporation Investor & Media Relations: Wall Street Marketing Group Mark Taggatz, 760-329-4169 info*wsmg.biz
-------------------------------------------------------------------------------- Source: Heritage Capital Credit Corporation
Posts: 53 | From: Jax, FL | Registered: May 2006
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quote:Originally posted by rhadagast: nice pr! I just got burned on CKYS and am hoping to get some back on this stock. Doesn't seem like a pump and dump at all like ck...good grief!
Does anyone know what their alleged assets are?
Doesn't seem like a pump and dump at all like ck...good grief!
KEWL! What did you notice about this one that showed it is different from CKYS?
Share Structure and Director/ Major Shareholder Funding of HCPC Business Development:
Overview of Share Structure and Changes from December 31st 2005 to December 31st 2006 (Part 1) and Insider/ Major Shareholder financial investment in HCPC (Part 2).
Gwendolyn Carol Johnson = 5, 713, 506 Sandra Battaglia = 18, 000 Ryan Braddock = 1, 038,000 J Daye = 58,500 Walter Hinchcliffe = 430, 000 Kevin Pickard= 1 091 994 Richard Razzeca = 232, 000
Total = 8, 552, 000
B. Shares controlled by HCPC Subsidiary: First Independent Financial Group (of which Gwendolyn Carol Johnson and Walter Hinchcliffe are the controlling Directors)
First Independent Financial Group – FIFG = 103,500,000
C. Shares held by major shareholders (> 5%)
Ed Johnson: 38,546,383
Note: Ed Johnson is the husband of CEO, Gwendolyn Carol Johnson
C. Float
Float (estimate): 13,564,620 (Large % of float held under Escrow. Free float stated as 3.79 million in company financials)
The following is a summary of share structure and quarterly changes, for the period from December 31st 2005 to December 31st 2006.
Share Structure:
December 31st 2005 AS: 250 million OS: 137, 203, 543 Float: 10, 960 530 (Large % of float held under Escrow. Free float stated as 3.79 million in company financials)
Insiders = 113 848 006 (including 103, 500, 000 shares owned by subsidiary First Independent Financial Group - FIFG) Ed Johnson: 12, 389, 006 Insiders + Ed Johnson = 126, 234, 012
June 30th 2006 AS: 250 million OS: 159, 063, 842 Float: 9, 867, 453 (Large % of float held under Escrow. Free float stated as 3.79 million in company financials)
Insiders: 110, 650, 006 (including 103, 500, 000 shares owned by subsidiary First Independent Financial Group – FIFG and Gwendolyn Carol Johnson = 5, 713, 506) Ed Johnson: 38, 546, 383 Insiders + Ed Johnson = 149,196,389
Key notes: Changes to Insider and Ed Johnson share holding since end of last quarter (December 31st 2005) . Ryan Braddock = + 975k J. Daye = + 6k Gwendolyn Carol Johnson = - 4.143 million Ed Johnson = + 26, 157 377 (including 20, 000, 300 issued by the company on March 29th 2006 as stated in Quarterly Report for period ending 30th June 2006)
September 30th 2006
AS: 250 million OS: 163, 035, 342 Float: 14, 178, 475 (Large % of float held under Escrow. Free float stated as 3.79 million in company financials)
Insiders: 110, 310, 484 (including 103, 500, 000 shares owned by subsidiary First Independent Financial Group - FIFG) Ed Johnson: 38, 546, 383 (unchanged) Insiders + Ed Johnson = 148,856, 867
Key notes: Changes to Insider share holding since end of last quarter (June 30th 2006)
Richard Razzeca= + 232k Ryan Braddock = + 38k J Daye = +46k
December 31st 2006
AS: 250 million OS: 164, 163, 003 Float: 13, 564, 620 (Large % of float held under Escrow. Free float stated as 3.79 million)
Insiders: 112, 052, 000 (Incl. 103, 500, 000 owned by subsidiary First Independent Financial Group - FIFG)
Ed Johnson: 38, 546, 383 (unchanged)
Insiders + Ed Johnson = 150, 598, 383
Key notes: Changes to Insider share holding since end of last quarter (September 30th 2006)
Kevin Pickard= + 1 061 994
Posts: 53 | From: Jax, FL | Registered: May 2006
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posted
Part 2: Capital Investment in HCPC by Directors and Major Shareholders:
A. Gwendolyn Carol Johnson = Invested $495, 606 in the period until December 31st 2005 for which she received 9, 856, 506 shares = Cost basis of $0.0502 pps
B. First Independent Financial Group (FIFG) = Invested $181, 935 in the period until December 31st 2005 for which they received 6, 500, 000 shares = Cost basis of 0.028 pps
[It is worth noting that FIFG owns 63% of the OS shares of HCPC equal to 103 500 000 as of September 30th 2006. This company was bought for 100 million shares initially by HCPC. The Directors of FIFG are Gwendolyn Carol Johnson and Walter Hinchcliffe. It subsequently acquired an additional 6.5 million shares for $181, 935 as stated above]
C. Ed Johnson (Husband of Gwendolyn Carol Johnson) = Invested $1, 465, 114 in the period until December 31st 2005 for which he received 11 326 506 shares = Cost basis of $0.129 pps
[He was subsequently issued an additional 20, 000, 300 shares by the company on March 31st 2006 as stated in the Quarterly Report for the period ending June 30th 2006. This brought his total shareholding to 38, 546, 383 shares = Revised cost basis of $0.038 pps. The cost basis was therefore brought in line with the others.]
Posts: 53 | From: Jax, FL | Registered: May 2006
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