The market is understandably treating HIMR as guilty until proven innocent and HIMR seems reluctant to accept that predicament and respond accordingly. It is understandable psychologically - there is probably a kind of dissonance that goes along with working for a company that many see as a scam. It is natural to think "I am trustworthy and people should trust me", but it is unrealistic in this context and ultimately irresponsible. I think they need to get some psychological distance from it by reminding themselves the predicament was created by management prior to Lacy/VanVranken and then accepting that it is not your fault, but is it your responsibility to solve that problem.
The company website is embarrassing and needs to be cleaned up. It doesn't seem to reflect the current business model. It talks about industrial applications in construction, mining, and flood emergency. Under support services it notes "our marine services include construction, maintenance, and repair for - offshore oil & gas platforms, bridges, dams & levees, ships and barges, water pumps, gate valves, and water intake structures". If a potential customer in need of such services called them, they would have to say "oh.....we don't actually have any equipment and are not prepared to do any such thing....we imagineered the concept years ago and thought it was too cool to take down". Would a potential investor look at their website? I would hope so for their sake. It is understandable that an investor would view them as liars. I don't view it that way, but update the site to reflect the current business model. Remove the stuff that doesn't reflect what you are. Earn respectability, don't treat it as an entitlement.
They need to get current with the state of Washington. Their UBI number is 600295617. If you look at the Secretary of State site they went from active to inactive on 11/1/13. The annual disclosure was apparently supposed to have been filed by 7/31/13. but never was. Being active with them is a very, very, low bar. On the state of Washington's Department of revenue site it still shows the account closed. They need to get current with both and put links for both on the company website.
I am not sure what sort of documents can be found from Panamanian sources, but I found a website for a service that says it will find certificate of incorporation, certificate of good standing, articles of incorporation, and any amendments to the articles of incorporation if applicable for any Panamanian company for 300 pounds (euro-firma.com/en/panama/panama-company-search.html). I don't plan to pay, but it suggests the kind of documents that should be available. Ideally, the company should provide links on the company website to all of these. That site notes "It is worth noting that Panama companies are not required to file information regarding share capital, shareholders, directors, or company finances. They may voluntarily choose to do this however, ultimately affecting the amount of information you can retrieve in the company documents." HIMR should choose to include adequate information to make it crystal clear from a reliable third party source (i.e. the Panamanian government) that they own BLWP (or BWD - in other documents it refers to our subsidiary as Bayano Wood Development) and it has the contract and permits. Perhaps the contract and permits could be included as with amendments to the articles of incorporation and be accessible that way.
The company website is embarrassing and needs to be cleaned up. It doesn't seem to reflect the current business model. It talks about industrial applications in construction, mining, and flood emergency. Under support services it notes "our marine services include construction, maintenance, and repair for - offshore oil & gas platforms, bridges, dams & levees, ships and barges, water pumps, gate valves, and water intake structures". If a potential customer in need of such services called them, they would have to say "oh.....we don't actually have any equipment and are not prepared to do any such thing....we imagineered the concept years ago and thought it was too cool to take down". Would a potential investor look at their website? I would hope so for their sake. It is understandable that an investor would view them as liars. I don't view it that way, but update the site to reflect the current business model. Remove the stuff that doesn't reflect what you are. Earn respectability, don't treat it as an entitlement.
They need to get current with the state of Washington. Their UBI number is 600295617. If you look at the Secretary of State site they went from active to inactive on 11/1/13. The annual disclosure was apparently supposed to have been filed by 7/31/13. but never was. Being active with them is a very, very, low bar. On the state of Washington's Department of revenue site it still shows the account closed. They need to get current with both and put links for both on the company website.
I am not sure what sort of documents can be found from Panamanian sources, but I found a website for a service that says it will find certificate of incorporation, certificate of good standing, articles of incorporation, and any amendments to the articles of incorporation if applicable for any Panamanian company for 300 pounds (euro-firma.com/en/panama/panama-company-search.html). I don't plan to pay, but it suggests the kind of documents that should be available. Ideally, the company should provide links on the company website to all of these. That site notes "It is worth noting that Panama companies are not required to file information regarding share capital, shareholders, directors, or company finances. They may voluntarily choose to do this however, ultimately affecting the amount of information you can retrieve in the company documents." HIMR should choose to include adequate information to make it crystal clear from a reliable third party source (i.e. the Panamanian government) that they own BLWP (or BWD - in other documents it refers to our subsidiary as Bayano Wood Development) and it has the contract and permits. Perhaps the contract and permits could be included as with amendments to the articles of incorporation and be accessible that way.
