I owned some HFCI last year, lost a great %. All I can say is there was a pattern. For a few weeks there was a constant sell-off, volumes of 20-30k daily and of course the price declined. Then all of a sudden, bang! One day 250k to 300k shares, mostly buys, price would jump up, but not to previous levels. Then quiet for some time and the process started again. Can you short an OTC stock at under $1.00?
Seemed greatly manipulated to me so I sold before I lost everything. I still watch HFCI out of curiosity. Last year I had called HFCI as well as the PR company, Thomas E. Waite & Associatesÿvia phone and email (tewinc@aol.com). I did just that......wait. Never got a response.
So what was today's action? Your guess is as good as mine.
FYI, Insider trading summaries, not necessarily the same people trading.
Purchase in Feb 97
$1,020,000 1,700,000 shares (at an average? or one time purchase) $0.60 Was this part of a financing plan?
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Then the president purchased June 25, 97
$600,000 2,500,000 sharesÿat 0.24
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Form 144 filed (intent to sell)
HENG FAI CHINA INDUSTRIES HFCI $36,060 50,000 sharesÿat $0.72
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HENG FAI CHINA INDUSTRIES HFCI $18,060 25,000 shares at $0.72
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Here's what really sold, Form 4 sales;
HFCI $72,400, 160,000 shares June 6- June 23 at an average price $0.45
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again
$86,580, 150,000 sharesÿ July 1-July 7 avg $0.58
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then again
$4,050 15,000 sharesÿ Sept 30 at 0.27
152.175.36.230
If you want something a little more interesting, check out Heng Fung Holdings
hengfung.com
where you can also find familiar names like Chan Heng Fai (or Fai Heng Chan as I've seen elsewhere) and Robert H.Trapp
hengfung.com
A recent filing from Fronteer, now part of Heng Fung Holdings:
sec.gov
Do you suppose they used HFCI as one of the "private placements" and $$ are passed from hand to hand till it can't be found? Just some thoughts in the wee hours of the morning.........Ben |
