By Tom Winnifrith | Monday 11 July 2016
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
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.
The deal was clearly a joke in the first place but it got worse when I served up documents from 1969 showing that the claims made by Highlands for these joke assets were lies. You can see the documents which were sent to Opera HERE.
Meanwhile Paul Mendell of Highlands has failed to address a damning expose about other Montana deals he has done HERE.
Now Highlands claims there is a mutual agreement with Opera to end the deal. Yeah right, whatever. Highlands now says it is going it alone and has developed a two-phase development plan for Helios Two which is designed to first achieve proof of concept and secondly achieve self-sustaining revenue and cashflow.
Phase One is designed to be a fast-paced and capital-light program geared towards expeditiously establishing proof of concept and establishing critical infrastructure for expansion.
Phase Two. Building on the groundwork laid in Phase One, Highlands will complete further Tridents in Phase Two in order to bring Helios Two to a point of self-sustaining economics. The directors anticipate that this phase of the project will require either further funding or, alternatively, the involvement of third parties.
Yadda yadda yadda. There is no fecking helium there. This is all horseshit. You know what I have a two stage plan for shagging Cheryl Cole. Phase One is proof of concept. Well I may be heading for 49 but the water works are still working so I expect to be able to report results of Phase One shortly. Phase Two gets a bit more complex but involves one Trident (boom boom geddit?) but we will get to that bit later.
Meanwhile we are still to see any TRI from the "institutional investor" which, Highlands says, owns 12.5% of its shares. The reason is that flash 'arry sold his shares a long time ago and has no position. He's a chancer who fooled the Bulletin Board Morons into making him a quick buck and raising £1.25 million to keep the Highlands lights on, as I explained HERE.
Everything about Highlands stinks to high heaven. When will UKLA - possibly the most incompetent regulator on this planet as I explained HERE at the weekend - do something about it?
The stance on both the rum and cokes Highlands and Opera remains sell.
Never miss a story.
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