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IC Places Inc. (PNCH)

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Last Post: 8/31/2014 12:30:53 PM - Followers: 517 - Board type: Free - Posts Today: 0

SHARE SELLING SCAM


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***MAJOR DD RIGHT HERE! MUST READ*****

PNCH only takes 5 seconds of dd to figure out what is going on.

From the last 10Q:

During the nine month period ended September 30, 2012, notes with a face value of $97,500 was converted into 350,445,504 shares of common stock. The debt conversion was recorded at the fair market value of the stock, at an average price of $.00535. The difference in the calculated issue price, per the agreed terms listed above, and the fair market value of the shares resulted in a recognition of $1,777,023 as an expense of the conversion, included as a change in derivative

So 350,445,504 shares were issued for $97,500 worth of stock. That's a conversion ratio of $.000278/share.

The average price of the stock at the time of the conversions were $.00535 making that stock worth $1,874,523 or $1,777,023 more than the debt.

Basically what that means is that they issued 350,445,504 shares that were worth $1,874,523 to debt Note holders to eliminate $97,500 worth of debt.

If anybody wants to know what PNCH is all about they need not look any further than that. Find out who owns the convertible debt Notes and who is getting a cut of the profits from the selling of the shares going to the debt Note holder and those are the people that PNCH exists to make rich. When people buy PNCH stock those are the people they are handing their money over to.

And it is only going to keep getting worse.

As of September 30, 2012, PNCH still had $244,253 in convertible debt Notes on the books.

If $97,500 turned into 350,445,504 shares then how many shares do you think $244,253 in convertible debt will turn into especially considering how much of a discount below the market price the debt Note holders get their shares?

At the same conversion ratio of $.000278 as the last $97,500 worth of debt, that $244,253 will become 878,607,913 more free trading shares of stock.

Since the PNCH share price will only go down as more shares get dumped, that $244,253 in convertible debt will probably end up becoming more than 1,000,000,000 free trading shares of PNCH stock.

PNCH looks like it is on its way down towards triple zeroes and anybody that holds it long term will end up going along for the ride.

 

 










 







                                                                                                                                       

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Wiki
PNCH News: Notification That Quarterly Report Will Be Submitted Late (nt 10-q) 08/13/2014 06:01:30 AM
PNCH News: Current Report Filing (8-k) 07/25/2014 06:02:37 AM
PNCH News: Amended Annual Report (10-k/a) 07/08/2014 05:14:05 PM
PNCH News: Imagination TV's New Show "UnCommon Denominator" Begins Filming Interviews With Moguls, Authors and High Achievers to Discove... 06/11/2014 09:00:00 AM
PNCH News: Imagination TV's New Show "UnCommon Denominator" Begins Filming Interviews With Moguls, Authors and High Achievers to Discove... 06/11/2014 09:00:00 AM
PostSubject
#116638  Sticky Note Added a bunch .0011 today-- awesome buys---- going FullImpactStocksUSA 07/30/14 11:08:08 AM
#115577  Sticky Note A MUST READ! The CEO is a complete buyinit 06/04/14 08:32:26 PM
#115278  Sticky Note There is no reason for us to do Rich 06/01/14 12:25:22 AM
#113636  Sticky Note PNCH has done 3 Reverse splits in the buyinit 04/25/14 02:39:12 PM
#105894  Sticky Note Posting comments that appear to be a threat IH Admin [Dan] 06/20/13 11:12:26 AM
#102227  Sticky Note Recommend everyone file a copy of the Collins Charlie48 04/29/13 09:42:35 PM
#44444   No! chloebware 05/26/12 04:07:14 PM
#44443   nasdaq!!!! remember nasdaq next year, don't know how, perchy 05/26/12 04:05:27 PM
#44442   AMEX totally reachable! chloebware 05/26/12 03:47:05 PM
#44441   ICPA, .033, Oh, Yeah,we know already, perchy 05/26/12 03:42:18 PM
#44440   I think your statement "The price is determined GuyG 05/26/12 03:08:41 PM
#44439   Thank you for taking the time to dbcrim 05/26/12 02:13:31 PM
#44437   I really think you are... dbcrim 05/26/12 02:06:08 PM
#44433   Be careful of what you believe. If dmlabuda 05/26/12 01:51:35 PM
#44432   No, the bail out was after, was a perchy 05/26/12 01:46:47 PM
#44431   I'm not the only one who believes the dmlabuda 05/26/12 01:40:46 PM
#44430   The only psychology that matters when it comes dmlabuda 05/26/12 01:33:02 PM
#44429   Unfortunately, I think we bail them out. GuyG 05/26/12 01:26:09 PM
#44427   About URBAN HOLLYWOOD perchy 05/26/12 01:18:07 PM
#44426   Very Good D.D. Perchy.. darkodonnie 05/26/12 01:16:53 PM
#44425   May 15th facebook post! perchy 05/26/12 01:14:01 PM
#44424   Great Job, can you find article where a perchy 05/26/12 01:10:01 PM
#44423   Here is a direct link to that Rolling GuyG 05/26/12 01:07:24 PM
#44422   Those on the other boards plus earlier this perchy 05/26/12 12:21:17 PM
#44421   is this why u say the shorts from jim1234 05/26/12 11:52:31 AM
#44420   Great find!!!! I love jumping on the board Beachgirl 05/26/12 11:37:24 AM
#44419   I guess I should have stayed focused on ballstreet 05/26/12 11:32:41 AM
#44418   Something is more iterating on IC Places Badali 05/26/12 11:21:50 AM
#44417   great job!!! :) perchy 05/26/12 11:16:52 AM
#44416   haha looks good! Gori88lla 05/26/12 11:15:13 AM
#44415   Static is coming Badali 05/26/12 10:56:23 AM
#44414   Big wheels don't normally buy penny stocks! But perchy 05/26/12 10:29:04 AM
#44413   Probably referring to the article about GOLDMAN and dolly2 05/26/12 09:48:01 AM
#44412   hmmm. thats a interesting question coming from u jim1234 05/26/12 09:35:11 AM
#44411   why do you ask that? bod4life 05/26/12 03:26:10 AM
#44409   Is Warner Brothers buying ICPA STOCK? MAXIMUM LIGHT 05/26/12 12:56:39 AM
#44408   Got a Chart handy?? my hands are full Specalculator1 05/26/12 12:54:48 AM
#44407   are you? Nitwit 05/26/12 12:53:05 AM
#44405   lets hope so buddy! i believe that those bod4life 05/25/12 11:37:55 PM
#44404   PR in the memorial day weekend and it typeharry 05/25/12 10:22:29 PM
#44401   Actually 86IROCZ 05/25/12 09:26:02 PM
#44400   No, .025 is not impossible. Heck no. 86IROCZ 05/25/12 09:24:20 PM
#44399   I'd put my order in at .025 and 86IROCZ 05/25/12 09:22:40 PM
#44397   It must be a sign... colt8806 05/25/12 09:13:31 PM
#44396   I'm buying every payday for the rest of Snowey 05/25/12 08:48:08 PM
#44395   We know that where is the PPS power. Badali 05/25/12 08:47:11 PM
#44394   I don't think you are being unreasonable for Todoky 05/25/12 08:46:41 PM
#44393   I'll still be buyin at rhinos in Vegas !!! Bear1 05/25/12 08:45:52 PM
#44392   have a great holiday weekend Dynomite! Snowey 05/25/12 08:44:05 PM
#44391   of course 1dollar is possible thats a given bod4life 05/25/12 08:42:28 PM
#44390   Yep. I'll be a buyer all the Stocktologist 05/25/12 08:38:41 PM
#44389   IMO dollar is possible. shab420 05/25/12 08:30:07 PM
#44388   Theoretically dmlabuda's .01 is possible. Just not Stocktologist 05/25/12 08:26:07 PM
#44387   When was the last time anyone here looked JohnCM 05/25/12 08:24:33 PM
#44386   No, it's possible. Stocktologist 05/25/12 08:20:43 PM
#44385   I know. I want a unicorn! Stocktologist 05/25/12 08:19:31 PM
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