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Last $0.0001 USD
Change Today 0.00 / 0.00%
Volume 9.2K
HESG On Other Exchanges
As of 8:10 PM 07/28/15 All times are local (Market data is delayed by at least 15 minutes).

health sciences group inc (HESG) Snapshot

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health sciences group inc (HESG) Details

Health Sciences Group, Inc., through its subsidiaries, develops various products used in nutritional supplements and functional foods and beverages in the United States. It primarily offers Shugr, a zero-calorie sugar substitute that tastes and bakes like cane sugar; and Sequesterol Advance Cardio Formula, a proprietary blend of clinically studied ingredients for the maintenance of cardiovascular health and a free-flowing circulatory system. The company also offers Aplevia, an antioxidant derived from apple peels; and Edible Sponges, an open-cell hydrocolloid product. It sells its products primarily through mass market retailers, such as mass merchandisers, drug stores, supermarkets, and discount stores, as well as through healthcare professionals and practitioners, and other media. Health Sciences Group, Inc. was formerly known as, Inc. and changed its name to Health Sciences Group, Inc. in 2001. The company was incorporated in 1996 and is based in Newport Beach, California.

2 Employees
Last Reported Date: 04/17/06
Founded in 1996

health sciences group inc (HESG) Top Compensated Officers

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health sciences group inc (HESG) Key Developments

Securities and Exchange Commission Announces Charges against Florida-Based Penny Stock Schemes

The Securities and Exchange Commission announced the latest charges in a joint law enforcement crackdown on penny stock schemes with ties to the Florida region. The SEC charged two microcap companies, their CEOs, and one penny stock promoter for spearheading illegal kickback schemes. The SEC also charged two other microcap companies, their CEOs, and four other promoters with arranging the payment of bribes to hype the companies in which they had a stake in order to create a false sense of market activity and illegally generate stock sales. The SEC has worked closely with the U.S. Attorneys Office for the Southern District of Florida and the Federal Bureau of Investigations Miami Division to uncover the penny stock schemes. Parallel criminal charges were announced against the same nine individuals facing SEC charges. The SEC has now charged 40 individuals and 24 companies in this series of penny stock investigations. The first actions were announced in October 2010. The SECs complaints filed in U.S. District Court for the Southern District of Florida charged the following penny stock companies and officers: Health Sciences Group (HESG) formerly based in Indian Harbour, Fla., and now based in Newport Beach, Calif. President and CEO Thomas Gaffney of Satellite Beach, Fla. Nationwide Pharmassist Corp. based in Boca Raton, Fla. CEO and Chairman Stephen F. Molinari of Boca Raton, Fla. Redfin Network (RFNN) based in Fort Lauderdale, Fla. President and CEO Jeffrey L. Schultz of Fort Lauderdale, Fla. VHGI Holdings (VHGI) based in Fort Worth, Texas. CEO Douglas P. Martin of Wellington, Fla. The SECs complaints charge the penny stock promoters: Mark Balbirer of Pompano Beach, Fla.; Jack Freedman of Fort Lauderdale, Fla.; Richard P. Greene of Davie, Fla.; Peter Santamaria of Coconut Creek, Fla.; Sheldon R. Simon of Palm Beach Gardens, Fla. According to the SECs complaints, one of the schemes (Health Sciences Group/Gaffney) involved an arrangement to pay an undisclosed kickback to a pension fund manager in exchange for the funds purchase of restricted shares of stock in the company. Two other schemes (Nationwide PharmAssist/Molinari and Balbirer) involved agreements to pay undisclosed kickbacks to hedge fund principals in return for their funds purchase of restricted shares.


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