Another post about HVSF from Batman. What do you think of your company now, David?
<<I believe this "stock" has now been adequately prepared by Waite & See for another reverse split.
Given that this is New Year weekend, I thought it might be a good time to review significant events in HVSF's life this past year:
1) Once again, this company had no revenue.
2) The company's Chief Financial Officer, Barb Krilich, was kept busy keeping the books for this non-revenue producing company. In fact, this is such a time-consuming job, that another high-level appointment, Orgill, was brought on as "Treasurer", no doubt to keep track of the non-revenue. It is believed that Krilich was brought on board for her experience in reverse splits--her previous employer, Hospital Corporation of America, recently underwent an astounding 1,000 to 1 reverse split. Krilich also brings previous real estate promoter experience to HVSF. Both Krilich and Orgill are on 6-figure salaries.
It is believed that the sheer number of financial transactions by this non-revenue producing company will force a third financial executive to be hired in order to keep track of everything.
3) The company's address changed yet again. This company has had the following addresses:
2545 South Bruce, Suite C, Las Vegas, Nevada 89109
23 Cactus Garden Drive, Suite F60, Henderson, Nevada 89014-2340
4446 Los Reyes Court, Las Vegas, Nevada 89121
Suite 18, 1601 East Flamingo Road, Las Vegas, Nevada 89119-5276
17791 Fitch, Irvine, California 92614
17992 Mitchell South, Suite 100, Irvine, California 92614
But now, the company has moved once again and it has this time split up into FOUR addresses:
(a) The address of record in Reno, Nevada
(b) The address above in Irvine on South Mitchell where Darryl puts gel in rabbits
(c) The address in Arizona used by Barb Krilich (I wonder what Barb Krilich really does for a living, what she spends her time doing? Anybody know? Is she promoting real estate in Arizona again?), and
(d) The "World Headquarters" of Harvard Scientific: 106 Ridge Road, Lake Mary, Florida 32746 (Waite's promotions office)
Personally, I think one of the problems that this company has is that it hasn't split up it's offices enough, and that it hasn't moved around enough. At one time HVSF also had an office in New York for internet hyping (Martineau's New York address), but the SEC shut down that operation.
4) One of the major "triumphs" for HVSF this year was the promotion of Jackie See (and Waite) as supposedly investing in this company. They paid for their investments not with cash (What? You thought investing takes cash? Not with the Waite & See method), but with a "promissory note". Worse, Jackie turned around and actually began SELLING shares, not buying them. Neat trick, huh? Tell the public with a press release that you are buying shares, then turning around and selling.
5) Another major achievement was keeping See's sickness hidden from shareholders.
6) Share dilution. Over a 24-month period, common shares outstanding have increased 600% (while revenues have been zero).
7) Another major achievement of the year was the suckering of Dave Furstenberg and his coterie of followers (including a transexual) into purchasing HVSF stock on the open market by means of promising a major pharmco linkup (and then collapsing the price). This "major pharmco linkup" was the same promotion used in the previous ramp in January 1997 (in fact, even the same company, Upjohn, was used).
8) And, of course, one of the major events this year that rocked shareholders, was the revelation that the company had a fugitive on its board of directors, wanted on charges of forgery, theft, and bank fraud. Also wanted in Bahrain for passing bad cheques. Also, various outstanding unpaid court judgements. The company may be over this, but if there were to be another revelation of another fugitive at this company, it might be more than the company (or Nasdaq) could handle.
But not everything went according to plan this year. Waite was somewhat successful in getting rid of various lawsuits against the company, albeit sometimes he simply settled them by issuing gargantuan amounts of stock to people (not that this bothers either Waite or See--they can simply issue themselves more shares for "services rendered" and as "incentive bonuses"). Nonetheless, Waite was unsuccessful in getting rid of all the suits. A case in point is the lawsuit brought against the company by the Fugitive. Waite and the Fugitive have been unable to come to terms, and trial has now been set for May 1999.
But 1999 is now upon us. I would like to kick off a discussion as to what people think is in store for this year. A reverse split looks to be on the cards. Plus, we have the lawsuit by the Fugitive to look foward to. Any bets on what revenues are going to be? I'm gonna guess zero. How about guesses as to share dilution this year? Perhaps another floorless convertible? Any guesses as to whether Phase II will ever start? (My guess is that it will never start). Rather than see a start to Phase II, I think Darryl will come up with more Phase I trials for new ideas. They sure are cheaper than starting Phase II. In fact, that is my general prediction for this company for this coming year: various new "ideas" will be floated by this company, along with Phase I trials. But never, NEVER, Phase II. Also, I predict that Harvard Scientific will not file for a Nasdaq Small Cap listing.
Anybody else have ideas as to what 1999 might hold for this ghost company?
Batman>>
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