Hiru Corporation (PK) (HIRU) News

Hiru failed to produce an expert for testimony. I would not put too much into the claim unless there's is a expert. However you are missing the point I raised earlier, whether that is even relevent as a corporation is or can be responsible for a corporate officer’s fraud committed within the scope of employment and apparent authority. And the nineth circuit ruling I posted that weighs heavily against Hiru. Their hired Gavin and likely could bear responsibility regardless. Hiru put them or Gavin in a position of trust and confidence.

The shikh needs to sue what you call the scammers but I think the plaintiffs do have a reasonable claim. I think you should again be more open minded about law, case law, corporate responbility.

We'll see what unfolds. You could be right, maybe not.

On March 26th, Hiru's lawyer, Frederick C. Bauman, filed a motion to withdraw as counsel of record stating irreconcilable differences with regard to the representation. Not perhaps a positive sign defendant and lawyer not agreeing.

When the checks are looked at and not an official of Hiru wrote those checks and signed those checks that will be an important issue. Forgeries are not legal tender so the law will be on the side of current administration. I am certain the person responsible for writing the check will not be the cfo or any person that has the abiltiy to sign to be the sheikh either. You can talk about the law all you want the facts are these checks were written by a person that was trying to screw another company. The sheikh has no tolerance for that and has 0 responsibility.

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The checks are written from Hiru Corporation. The court will decide if they are responsible not you, nor I.

I think you are not being open minded, just buying into one side when I am looking at both sides.

I understand Hiru claims they are an innocent victim. I understand the bank claims otherwise.

The bank claims the two defendants came to deposition unprepared claiming no knowledge and the third cancelled two days before the scheduled deposition. They failed to produce their expert for testmony. Alleged.The court can look at this as the defense would like, that the defense knows nothing, so it's expected, or they are stonewalling, not co-operating.

I would consider settling because if you lose the consequences are far worse. You should not assume a court will buy your position when there is another one they will consider.

I am not so sure that even we accept the bad acts were by Gavin unbeknown to Hiru, that excludes Hiru from liability. Gavin was the CEO at the time. Generally, a corporation is responsible for a corporate officer’s fraud committed within the scope of employment and apparent authority. The nineth circuit in Costa Brava Partnership III LP v. ChinaCast Education Corp, ruled Bad Acts Can be Imputed to a Corporation even if CEO acted against the company interests.


https://capobiancolaw.com/ninth-circuit-rules-that-bad-acts-can-be-imputed-to-corporation/

I understand the law but Hiru current group has no problem with this. Why would you settle with anyone when you have not done any of the actions created by scammers. The people knowlingly wrote bad checks. That is not even a question. I do believe that when all is settle Hiru current company will have no liability.

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I go by the court docs, allegations, rulings and the law. The issue here is this law.


12-671. Drawing check or draft on no account or insufficient account with intent to defraud; civil action; definition of credit; prima facie evidence

A. A person who, for himself or for another, with intent to defraud, makes, draws, utters or delivers to another person or persons a check or draft on a bank or depositary for payment of money, knowing at the time of such making, drawing, uttering or delivery, that he or his principal does not have an account or does not have sufficient funds in, or credit with, such bank or depositary to meet the check or draft in full upon presentation, shall be liable to the holder of such check or draft for twice the amount of such check or draft or fifty dollars, whichever is greater, together with costs and reasonable attorney's fees as allowed by the court on the basis of time and effort expended by such attorney on behalf of plaintiff.

B. The word "credit" as used in this section shall be construed to be an express agreement with the bank or depositary for payment of the check or draft.

C. Proof that, at the time of presentment, the maker, issuer or drawer did not have sufficient funds with the bank or depositary, and that he failed within twelve days after receiving notice of nonpayment or dishonor to pay the check or draft is prima facie evidence of intent to defraud.



I or you don't create the laws or the one above. If Hiru issued the checks it makes sense the plaintiffs will go after Hiru. It's 6 checks, not 4. The fact all were bad may add to the question whether it was intentional or not.


Ultimately the court will decide. I think Hiru should consider trying to settle rather than rolling the dice.

The issue is 4 checks that bounced. No one lost a dime from this situation. They are sueing because they know there is massive monies behind hiru now. Hiru with the sheikh involved is not going to be found complicit to any of these egregious situations. Miro is the one that will be in jail at some point. Cream comes to the top and shit washes away at the bottom. Miro being the shit.

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Well so far the plaintiffs have succeeded very well in their case against the other defendants. Only defendant left is Hiru. The Court has acknowledge the deceit of all the other defendants so what deceit are you referring too? The court has decided the bank was defrauded and now will decide if Hiru had a role in that also.


The bank makes strong allegations which are allegations not established facts, but I would not blow this away. Seems it could be serious to me. Here's one of the allegations.


HIRU issued six checks totaling $2,790,000.00 from its Chase Bank account to the Salome
Business Account. SOF ¶ 4. These checks were dishonored by Chase Bank due to insufficient funds.
Id. ¶ 5. America First then provided HIRU with notice of dishonor as required by A.R.S. § 12-671.
Id. ¶ 7. HIRU failed to pay the dishonored Bad Checks within twelve days after receiving notice, id.
¶ 8, establishing prima facie evidence of intent to defraud under A.R.S. § 12-671(C).

HIRU has presented no evidence to rebut the statutory presumption of intent to defraud and
should not be allowed to present such evidence as sanctions for its discovery violations. Therefore,
there is no genuine dispute as to the material facts, and the Court should enter summary judgment
against HIRU in favor of America First for $5,580,000.00—twice the amount of the dishonored
checks—plus interest, attorneys’ fees, and costs all as provided by A.R.S. § 12-671(A).


So are you saying if Hiru were to lose and were ordered to pay close to 6 million, the business operations would not be affected one bit as they can easily financially absord that, or your convinced it can't happen? I am not familiar with Hiru's financial picture.

I am a bit surprised they are not trying to settle this case with the other side seeking summary or default judgment.

I agree but you go to court you have to prove in front of a judge. Judge's generally understand business and will see the deceit of this case. They will fight it with a real attorney not this guy out of LasVegas Baumann. He has a very checkered past. Anyway this will not affect the business operations one bit.

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The plaintiff is seeking either summary judgment or a default judgment against Hiru Corporation, or at the mimium, order Hiru to pay attorney fees and costs with certain issues it raises. No one knows how a Court will rule.

Hiru might be in a different business now than it was was as you put it, with the bottle watter nonsense in Arizona, but it's still the same Corporation as far as I know. I admit not that familiar, but just reading the court file. Summary judgment or default judgment ruling would be harmful to Hiru.



CONCLUSION
In light of the foregoing, America First requests that this Court enter summary judgment
against HIRU or, in the alternative, strike HIRU’s Answer of Defendant HIRU Corporation to
Plaintiff’s First Amended Complaint with Crossclaims and enter default judgment against HIRU. At minimum, the Court should (1) order HIRU to pay the attorneys’ fees and costs associated with the
depositions, (2) strike Lindsey as an expert, and (3) order HIRU to pay the costs and fees America
First incurred in connection with the rebuttal expert America First engaged to counter Lindsey’s
opinions.

RESPECTFULLY SUBMITTED this 10th day of April, 2025.
HOLLAND & HART LLP

https://www.hirucorporation.com/

Website back up, anyone see any changes? 

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Too funny. Deja vu all over again except this time we’re in the dugout.
Oh the irony!

I gotta say you were right about those .0004's

Howdy, friend... I didn't buy any today. Grabbed a few a week ago though. You know this'll get pumped back up a ways, but they gotta come up with a better story than Ballsac. Gold, man. Or rare earths. Copper's a big boy's game and if the world goes into a Trumpcession, copper prices will tank...

Been pending renewal for nearly 3 years. They applied in June 2022. Leases and claim renewals don't take that long in Taz...

Nice to see you back Jackie now tell us how many shares did you buy today. You hate this stock and this company so much Im sure you bought 3-5 million. You just can't keep from embarrassing yourself.
Please tell us more how bad HIRU is , how much of a joke Hiru is with the fake Sheik and nobody in Balfour except some of your relatives keeping watch over your old tractor and motorhome. Tell the family hello.

Lease at Balfour pending renewal. https://www.mrt.tas.gov.au/webdoc2/app/default/lease_detail?id=10208

Plus another 130 known spots to explore. Nobody here has been saying HIRU is walking into an oven ready El Abra type project. That's why the stock is at .0006 x .0007 with a micro sized market cap. There would seem to be more upside than downside.

Some of Summer's comments about the site from February 2025 in here.

https://www.theadvocate.com.au/story/8883607/rich-copper-finds-at-circular-head-spark-mining-hopes/

HIRU Nice little gain here today !! GLTA

Meanwhile, FWIW and just passing along:

$WTER Oh the humanity. :)

https://www.otcmarkets.com/filing/html?id=18373558&guid=ahh-kq6Mr6RXB3h

I'm aware of that. One drill hole conducted by D&B mining 2 yrs ago paid for by the Taz Exploration Grant Initiative drilled below the old Murrays Reward Mine.
Do you think a single drill hole constitutes a mineral resource? I've worked on resource drill-outs with up to 15 rigs going over a 2-3 year period, hundreds of drill holes. Depends on the size, mineral distribution and geometry of the orebody of course as to how much drilling is required.

1.6% Cu over 3.7 meters of drill core (true thickness will be something less than that). You figure that's anywhere near economic? It's not. Weak grade over a narrow width. And only one drill hole, but they effectively killed the potential down-dip extension of the ol' Murrays Reward.
While you're digging up technical reports on Balfour, look up Rio Tinto's reports for their work at Balfour in the 90's...

We be gettin' ready for mining...!

There was drilling done at Murray's rReward at Balfour and copper was found 1.6% CU
https://mrt.stgro-2780.saas.squiz.cloud/mrtdoc/tasxplor/download/22_8627/DBBA1_MurraysRewardProspect_EDGIRnd5_Final_Report_inc_Assays_adj.pdf

Thanks for the reply. I read some of your ealier post today good stuff. I olso read the lawsuit but I'm not versed in law or finance and was looking for another opion. Thanks again it starting to look a little better here.

Ready to go where? Mining? You don't really know much about this business, do you?
They don't have a valid mining lease (expired nearly 3 years ago). They haven't done any drilling, no mineral resource, no feasibility study, no development permits, no EPA permits, no infrastructure development, no equipment anywhere near Balfour (all these things are posted to the public on the Mineral Resources Tasmania site, and there ain't nothing there).
Doubtful they threw $15M at this 'project', but if they did, $15M doesn't buy much in this business. And Balfour's current NPV is roughly $0.00. There is no value.

Where's mascquale? He's missing the resurrection of the Balfour mining con...

Notice they re-iterated some valuation info about Balfour plus $15m that had been put into the project to get it ready to go.
It would be nice to hear news of them building camps, moving equipment up there to start bringing material up.

It's back.... And it's still a con.

A load of convertibles were canceled as seen in the annual report. I hadn't noticed this before.

The box was checked 'x' on the annual report somewhere near the top saying that there is no convertible debt outstanding. I posted about this earlier with a "which is great!" comment, which it is.

Look at the notes in the annual report filing regarding issuance section 3 copied below. This is great for us:

'Use the space below to provide any additional details, including footnotes to the table above:
The Company processed with the rescission of previous loan agreement giving right to convert into shares for an amount of $ 1.4 Million Dollars initially created in May 25, 2022 between the previous controlling owners and Bayern Industries LLC and transferred in 10/29/2024 to the benefit of the Libyan International Assets Holding LTD (UK), it was found to lack legitimate grounds. It follows then the fate of the liabilities linked to the previous owners in the Water Business abandoned by the company and owned by Bayern Industries LLC itself.
As of 31st December 2024 there are no convertible notes or instruments or similar in the books of the company'

I would think they are updating it. Don't have to go down for that UNLESS it is something big!!
Who knows......................... GLTA LONGS

Hiru's website is down. I wonder if they are updating it at all...

I've been here for years I agree. Thanks for the reply.

Convertible debt is all the shares we have taken over the last 6 months. These guys are never going to ever do a convertible note. They have cash. This thing is going to start running now. It did take forever but hoping it will be a great hit for all. The company with the management is real. Getting rid of this pos miro has been agonizing but that bastard is out totally.

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I should say convertible debt

Did I read that rite they have no debt

Yes, posted a few thoughts on it earlier today

Have you read the anual report just out

0.0007's going now and there's essentially zero chatter out there anywhere !

Big Selling General Administrative expense of a few million, likely payments to do with the Balfour merger. There was an old convertible note that was paid off between end of Q3 and end of Q4 2024 as well (which is great, because how many times have we been burned by that one lurking in the shadows in the pinks ?!).

Notice also that the intangible assets increased by $32m to $47m now.

I remember reading a filing last year were there was an amount being paid to do with water equipment or something to that effect. I haven't got time to dig for that, but it's in one of the previous filings.

The numbers may not tally exactly between Q3 and Q4 annual, because there is a new accountant based in Qatar now and the accounting method being used has changed.

https://www.otcmarkets.com/otcapi/company/financial-report/455524/content
ANNUAL REPORT ABOVE

Thx. It’s midnight for me so I’ll look at this tomorrow or eventually. Just nice to see them get current which looked questionable until they updated the lawsuit and filed the extension and even then it wasn’t guaranteed. Thanks again for your dd effort.

Do I read this right? That over 10 million in cash disappeared in Q4?

Q3 accounts showed Cash and cash equivalents = $13,519,375

Q3 also showed a net profit of $2,762,682

I think it was the January update in which they essentially said to sit tight and keep an eye on the filings. They actually followed through. Maybe we can hope to hear a bit about what else they've been up to.

I was actually surprised that Balfour is still in there, because I misinterpreted Geoffrey Summers being taken off the website to mean that the Balfour deal had fallen through, when in fact, it was just that they had completed the RM by then.

Notice they re-iterated some valuation info about Balfour plus $15m that had been put into the project to get it ready to go.

It would be nice to hear news of them building camps, moving equipment up there to start bringing material up.

Now is the time for Hiru to announce a “Rare Earth” minerals project as China just cut the U.S. off lol.

Thanks. This filing brings credibility and pink current. This would have been the filing that they just wouldn’t have bothered paying the accountant for if they were going to go dark.
Still a viable shell.

.0006 x .0007 - About $5,400 took out the remainder of the .0006 at the ask. Moves well when it goes. A few months ago, the co did say to keep an eye on the filings. Rather quieter overall than other co's but they did come through and did what they said they were going to do.

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