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Microcap & Penny Stocks : HGRM--Any Followers?
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To: bitlake who wrote (3424)12/19/1999 1:03:00 PM
From: Ted M  Read Replies (2) of 3576
 
I know what you mean, Steve. We are at the mercy of HDI who has put themselves at the mercy to a great extent of many forces beyond their control. Hope is all we and they have. Too many times HDI has indicated confidence in the project only to have been proven very wrong.

Although I was aware of many red flags--lack of details on payment terms, questionable shareholder relations, continued broken promises on the audit, weak financials, financially desperate Russia--I still invested initially as a very short term investment. When the price almost halved my initial investment within days I changed strategey and began to rely on hope. Hope and belief that one or two payments of some $5-10 million would happen. I bought more--hanging on to this hope and thinking I'd get the original investment back and more..

As disappointments continued to occur along with the continued red flags I continued to hope things would work out. I sought signs of other things to hope for--other projects in the works, etc.. I even bought more.

What did all of this hope bring? Nothing. Pink sheets and 50 cents.

I blame myself for not using good common sense here. $130 million is just a number. Now it is a number no longer used. Maybe $40 million will have the same fate.

I argued risk/reward on this thread several times and the risk has won. Maybe now at 50 cents the reward will win out. The thing to keep in mind though is that 100 times nothing equals nothing and for all we know HDI has nothing but Russia, which may be nothing. Until we see numbers in the audits we just don't know.

Hope hasn't worked here for a long time.



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