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IC Places Inc. (PNCH)

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Last Post: 8/22/2014 2:41:05 PM - Followers: 519 - Board type: Free - Posts Today: 0


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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: 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
#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
#116992   Leaving Early Because its Friday meadow2009 08/22/14 02:41:05 PM
#116991   Another Great Day for PNCH meadow2009 08/22/14 07:00:16 AM
#116990   Make sense out of it? Lol. Rich 08/22/14 12:39:14 AM
#116989   Eeeeeesy Richy? I'm just tryin to make sense vincelong 08/22/14 12:34:19 AM
#116988   There's no way that 'meadow2009' is Stevo. Rich 08/22/14 12:33:04 AM
#116987   Hey man are you Stevo shorting his own pos?? vincelong 08/22/14 12:23:59 AM
#116986   Can I say STIeVIE is an AAS? Nitwit 08/21/14 10:42:19 PM
#116985   It wasn't me meadow2009 08/21/14 07:28:05 PM
#116984   Did Stevo paint that 3 for a c vincelong 08/21/14 04:45:47 PM
#116982   I remember just a few months ago all vincelong 08/21/14 02:42:33 PM
#116981   Steve Can Not Set Pinky Record meadow2009 08/21/14 02:15:31 PM
#116980   Where is the Proof meadow2009 08/21/14 01:52:17 PM
#116979   Why is PNCH hitting the fan? JIL2014 08/21/14 01:48:31 PM
#116978   PNCH is no longer filing SEC reports. buyinit 08/21/14 01:41:55 PM
#116977   When are the .0001's Coming? Milesblue42 08/21/14 01:36:54 PM
#116976   Is Steve going to set PINKY World Record? Milesblue42 08/21/14 01:33:42 PM
#116975   Does Steven Samblis play Good Cop-Bad Cop....? Milesblue42 08/21/14 01:29:04 PM
#116974   Question for Meyerlane meadow2009 08/21/14 08:56:22 AM
#116973   Thats true. I've seen a company do Meyerlane621 08/21/14 08:40:51 AM
#116972   It doesn't really matter if the 10Q is ronaldo1149 08/21/14 07:57:28 AM
#116971   Thanks for the Info meadow2009 08/21/14 07:22:11 AM
#116970   You can actually convert debt lower than par. buyinit 08/21/14 07:14:25 AM
#116969   Please don't call Mr Steve an inflamed boil meadow2009 08/21/14 06:55:22 AM
#116968   LMFAO. Scamblis is an inflamed boil on the PLUTUS 08/20/14 08:57:06 PM
#116967   good luck to you--hope you are FASTER than getmoreshares 08/20/14 07:29:22 PM
#116966   PNCH leaving bagholders left and right. buyinit 08/20/14 07:17:14 PM
#116965   I loaded some .0003's for the bounce!!!! BIGMONEYPLAYA 08/20/14 06:41:55 PM
#116964   Good thing he did that RS!! LOL!! What vincelong 08/20/14 05:59:05 PM
#116963   Bid .0002 WEEEEEEE PLUTUS 08/20/14 12:06:31 PM
#116962   Haven't talked to Steve in about 2 years. Ray Bob 08/20/14 11:46:42 AM
#116961   Hi Ray Bob... How you doing? Did we maynerd 08/20/14 10:19:18 AM
#116960   Maybe it was the 13th with a 6 Ray Bob 08/20/14 09:26:57 AM
#116959   Reports were due the 14th. The 5th buyinit 08/20/14 08:53:08 AM
#116958   Wrong.....due on the 15th and the form states iamnobody 08/20/14 08:51:50 AM
#116957   Nope yesterday was the day it was due. buyinit 08/20/14 08:47:48 AM
#116955   Where's the Latest quarterly report?? PNCH going dark? buyinit 08/20/14 08:18:09 AM
#116954   Where is Stevie? weeeeeeeeeeee Nitwit 08/20/14 01:48:49 AM
#116953   LOL! Not possible vincelong 08/20/14 12:50:03 AM
#116952   Lol...cons conning cons Charlie48 08/19/14 08:53:37 PM
#116951   .0003 Isn't this fun.. PLUTUS 08/19/14 08:25:40 PM
#116950   Meadow...aren't Steven-Samblis/CEO and PNCH the same entity? Milesblue42 08/19/14 07:05:18 PM
#116949   Welp, Steve has officially not filed the 10q. buyinit 08/19/14 06:39:15 PM
#116948   info-friends of VU: getmoreshares 08/19/14 06:26:38 PM
#116947   Maybe he won't even bother... Why waste the maynerd 08/19/14 05:09:45 PM
#116946   Still no Q. Hmmmmm is it finally over? buyinit 08/19/14 04:59:05 PM
#116945   10q is due today. Wonder if it buyinit 08/19/14 04:11:13 PM
#116944   Great job Samblis! There is now 98 erodriguez 08/19/14 04:02:53 PM
#116943   Is that the same Steve that stated he ronaldo1149 08/19/14 03:23:57 PM
#116942   No theory just bringing life to the board. goose44 08/19/14 01:49:39 PM
#116941   There goes that theory. Dilution continues! buyinit 08/19/14 12:11:23 PM