I’m no longer surprised how stocks that, in my view, are inherently worthless or at least worth a fraction of their current share price can stay at such a high price or so long but I think the bubble is bursting, and gravity is taking hold, at Highlands Natural Resources (HNR) with a shocking set of results released yesterday. Let’s have a look at the “highlights”!
Unlike Cloudtag (CTAG) which has to conjure up real sales from somewhere or face share price obliteration by Chriistmas, Highlands Natural Resources (HNR) which is also run by charlatans has an easy life.
Prompted by yesterday's bearcast, the conmen at Highlands Natural Resources (HNR) have released an update on the Laramie wells claiming success. But if you read closely...
The management of Highlands Natural Resources (HNR), notably Paul Mendell, still refuses to answer serious questions about their CVs or about RNS Statements made by Highlands that are simply not true and that silence should make any sane speculator run a mile. Meanwhile it continues with the pretence that it has found an institutional investor who should by now own 30% of the company but in fact owns no shares. Confused? Let me explain.
After hours on Friday came the announcement from Highlands Natural Resources (HNR) that all bar the stupidest folks on this planet, that is to say its own shareholders, knew was inevitable.
Back on 15 June Highland Natural Resources (HNR) announced what was in essence a covert placing with a spiv share flipper. It was dressed up as something rather different but the failure of that spiv to issue a TR1 shows this laughable pretence up for what it is.
Highlands Natural Resources (HNR) is shameless in the way that it announce the most fantastically misleading news to ramp its shares to get another covert placing away. Today's announcement is a total shocker. It is paying $500,000 for the right to pick up 100% of the costs but just 80% of the revenues from six wells in Colorado. The numbers sound great...sadly they are just plain old bollocks as 10 minute's research on the internet shows. Highlands states:
In between serving up more prize horseshit with its latest release Highlands Natural Resources (HNR) has claimed for itself almost psychic powers as it attempts to explain away previous lies.
A month ago Highlands Natural Resources (HNR) announced that it had sold some assets it had bought days previously for $91,000 for £4 million in shares in fellow standard list dog Opera (OPRA) as well as £240,000 in cash. Today that joke deal has collapsed leaving Opera desperately seeking another acquisition and with its credibility in tatters and Highlands needing to explain the lies it has told.
If one takes a disclosable stake in a listed company you must notify the company within five working days and it must by the close of the next working day, notify the market. So we should be seeing a TR1 from Highlands Natural Resources (HNR) today then. If we do not then investors have been spoofed.
Highlands Natural Resources (HNR) is yet to answer the issues raised in the Paul Mendell bombshell of last weekend and so while it keeps its head in the sand, here is another matter for it to discuss: why is it lying about its Helium plays? Yes that is the L word - go ahead and sue me bitchez I shall happily see you in court.
