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Microcap & Penny Stocks : The Henley Group, Inc. (HNLY) undervalued growth company
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To: Psycho Killer who wrote (1114)3/31/1998 1:20:00 PM
From: Steve  Read Replies (2) of 2232
 
I just love it Bermuda! Land of opportunists. A mutual fund chartered in Bermuda, perfect retirement spot. <vbg> I was invested in HNLY but bailed awhile ago. I have been watching both Magra and Henley for signs that they were for real. I'm still watching and waiting. I am a forgiving person but the age of the CEO and the Bermuda connection are very troublesome.

Consider a theory of Reg S financing: A debenture is offered and is picked up by a non-US entity. This non-US entity is under no obligation to disclose its ownership structure. The debenture is convertible. The conversion options are exercised at a very low price after the market makers, chop shops aka (the recent investment firm) have driven the stock down further lowering the price because of dilution. A round of hype drives the stock skyward because most investors are unaware of the dilution. The converted shares are slowly unloaded during the runup. Catch: the non-US entity is actually owned by principals of the company whose stock was just sold but they are hidden through layers of subsidiary companies who are simply shells with mail drops. Beautiful. Great retirement package. What a golden parachute but its your gold.
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