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IC Places Inc. (PNCH)

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Last Post: 7/29/2014 12:18:16 PM - Followers: 518 - Board type: Free - Posts Today: 28


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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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Current Price
Bid Ask Day's Range
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
PNCH News: IC Places Signs Previous Project Runway Winner to Lead Spanish Language Version of Imagination TV 06/04/2014 07:53:00 PM
#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
#116559   .0006 support!! goarmy123 07/29/14 12:18:15 PM
#116558   Reloaded .0006's I'm green again!!!! goarmy123 07/29/14 11:55:15 AM
#116557   This gonna bounce probably Rainer 07/29/14 11:40:19 AM
#116556   When you see Steve's alias's here posting you vincelong 07/29/14 11:29:05 AM
#116555   ----------reload--------------#PNCH willmakeitrain 07/29/14 10:59:23 AM
#116552   We are witnessing one of the fastest post vincelong 07/29/14 10:28:05 AM
#116551   Its pathetic SpeedTrader10 07/29/14 10:25:52 AM
#116550   Don't be surprised if that's BZ I mean vincelong 07/29/14 10:25:06 AM
#116549   These are the worst promoters i ever seen.. SpeedTrader10 07/29/14 10:23:07 AM
#116547   *** ALSO ON MAJOR SCAM WATCH *** maynerd 07/29/14 10:12:35 AM
#116546   CEO CASHING OUT ON SHAREHOLDERS jakewhite 07/29/14 09:59:59 AM
#116545   dump everything u have this going to 0004 SpeedTrader10 07/29/14 09:57:14 AM
#116544   Really! I read between the lines and assumed goarmy123 07/29/14 09:52:55 AM
#116543   I agree. Sitting on .0006 for another flip! goarmy123 07/29/14 09:50:43 AM
#116542   what a dump!! SpeedTrader10 07/29/14 09:46:45 AM
#116541   3 MILLION DUMP ON BID ITS GETTING UGLY jakewhite 07/29/14 09:43:53 AM
#116539   Bunny ranch here I come! Get this ATM goarmy123 07/29/14 09:32:58 AM
#116538   MAJOR DUMP jakewhite 07/29/14 09:29:45 AM
#116537   ***ON MAJOR BOUNCE WATCH***--------------->#PNCH willmakeitrain 07/29/14 09:24:28 AM
#116536   Exactly more Dumping Today big RED this has jakewhite 07/29/14 08:33:08 AM
#116535   Doc Diggler, you don't understand it. The preferred meadow2009 07/29/14 07:45:34 AM
#116534   No bounce coming promo guys failed SpeedTrader10 07/29/14 12:52:52 AM
#116533   Nice to see the king of steamers out DocDiggler 07/29/14 12:16:36 AM
#116532   Yup, can't understand why investors are giving the DocDiggler 07/29/14 12:09:46 AM
#116531   Passed investors are more impressed with what the DocDiggler 07/28/14 11:59:05 PM
#116529   PNCH nice chart http://stockcharts.com/h-sc/ui?s=pnch&p=D&b=5&g=0&id=p9349846922 AmerikanGreed 07/28/14 10:55:47 PM
#116525   Samblis Screws Shareholders Again meadow2009 07/28/14 10:23:47 PM
#116524   Bounce imminent. Rainer 07/28/14 10:08:13 PM
#116523   Did you sell this pos today? Or are SpeedTrader10 07/28/14 10:02:47 PM
#116522   Yeah.. hopefully i can sell 0009 instead of SpeedTrader10 07/28/14 09:48:33 PM
#116521   Hmmmm...., work for a living or push sell vincelong 07/28/14 08:21:10 PM
#116520   Well, we knew that was going to happen. maynerd 07/28/14 05:00:53 PM
#116519   Nice..!! Glad some peeps got to make some maynerd 07/28/14 04:54:27 PM
#116518   Glad I grabbed profits in that 5%. I'll goarmy123 07/28/14 04:53:40 PM
#116517   Nope didn't wait. out at .0014 target. Nice goarmy123 07/28/14 04:52:25 PM
#116516   Dumped more on people... Nitwit 07/28/14 04:32:49 PM
#116513   Hey Steve... The scam has been working for maynerd 07/28/14 04:01:18 PM
#116512   Nah... good luck with that! This pig has maynerd 07/28/14 03:52:47 PM
#116510   Sorry bro... At least you didn't lose a maynerd 07/28/14 03:44:33 PM
#116509   Just a test run, imo. $PNCH BeardOfWallSt 07/28/14 03:42:41 PM
#116508   I warned all of you yesterday this was meadow2009 07/28/14 03:41:01 PM
#116507   Closing in RED POS this is jakewhite 07/28/14 03:23:41 PM
#116506   ***GREAT RUN!!----CHART RESET-TO-RUN-AGAIN***----#PNCH willmakeitrain 07/28/14 03:08:44 PM
#116505   Pile of junk forsale here nobody want it, jakewhite 07/28/14 02:42:20 PM
#116504   I agree with you now after getting out SuperVeloce 07/28/14 02:36:48 PM
#116503   Not exactly trading like a stock with an moras 07/28/14 02:27:32 PM
#116502   Yikes!!! That is one ugly L2. Are we vincelong 07/28/14 01:46:22 PM
#116501   Agreed! SpeedTrader10 07/28/14 01:30:44 PM
#116500   Here comes 0008 SpeedTrader10 07/28/14 01:30:02 PM
#116499   I said it Wednesday. No Uptrend will last vincelong 07/28/14 01:18:28 PM