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IC Places Inc. (PNCH)

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Last Post: 8/29/2014 7:47:45 PM - Followers: 518 - Board type: Free - Posts Today: 6


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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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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
#117030   A Very Thoughtful Analysis meadow2009 08/29/14 07:47:45 PM
#117029   Reverse Splits Aren't All Bad ed7777777 08/29/14 06:47:16 PM
#117028   Heard a Steve Rumor from where...? Huh? Milesblue42 08/29/14 12:16:55 PM
#117027   2 Grand Should be Enough meadow2009 08/29/14 11:34:46 AM
#117026   2grand at the open for samblis..not sure that'll Charlie48 08/29/14 11:22:03 AM
#117025   Happy Labor Day Weekend meadow2009 08/29/14 07:19:09 AM
#117023   To put my "investment" in this "company" in hhi3 08/28/14 08:58:59 AM
#117022   Wow Wow, no trades after 10AM and a big meadow2009 08/28/14 01:24:04 AM
#117021   LOL! I've been gone 3 months and it's Diane1 08/27/14 10:45:32 AM
#117020   Let's get to no bid today!! Wooohoooo Stevo!! vincelong 08/27/14 09:00:23 AM
#117019   Good Morning to All meadow2009 08/27/14 07:08:23 AM
#117018   Miles Blue Good Question meadow2009 08/26/14 05:12:28 PM
#117017   Meadow, where is Steven Samblis' REVENUE? Milesblue42 08/26/14 03:54:55 PM
#117016   One hour left to go meadow2009 08/26/14 03:05:20 PM
#117015   Interesting Observations meadow2009 08/26/14 01:08:28 PM
#117014   Uh...what about with ClearChannel-and-other Revenue sources? Milesblue42 08/25/14 09:11:15 PM
#117013   I don't speculate meadow2009 08/25/14 08:31:24 PM
#117012   Steven Samblis didn't report anything for 2nd quarter. buyinit 08/25/14 06:29:21 PM
#117010   IMO-Might Chef Samblis be trying to Cook the Books..? Milesblue42 08/25/14 05:26:43 PM
#117009   I have a great idea meadow2009 08/25/14 02:47:08 PM
#117008   Thanks Vince... I appreciate it! It is a maynerd 08/25/14 10:20:11 AM
#117007   Very sorry for your loss Maynerd. I would vincelong 08/25/14 07:18:51 AM
#117006   Based on Public Info Stevie Can Be: meadow2009 08/24/14 11:24:21 PM
#117005   where oh where is Our CEO Now? darkodonnie 08/24/14 11:02:55 PM
#117004   Thank you... He left behind a wife, 7 maynerd 08/24/14 08:57:23 PM
#117003   Condolences on the loss of your brother meadow2009 08/24/14 08:14:27 PM
#117002   Meadow, Steve released this Press Release 711 Days ago.... Milesblue42 08/24/14 05:46:54 PM
#117001   Shifting blame away from the CEO not working....Ha Ha Milesblue42 08/24/14 05:33:14 PM
#116999   Its more like .000000000003 after 3 RM's... That maynerd 08/24/14 05:10:05 PM
#116998   $1 is way to high vincelong 08/24/14 01:02:26 PM
#116997   We don't know what the current OS is, buyinit 08/24/14 12:49:36 PM
#116996   Re: Miles Blue Correction meadow2009 08/24/14 12:01:40 PM
#116994   PNCH has a OTC STOP SIGN........ Milesblue42 08/24/14 10:04:05 AM
#116993   How many different Steven Samblis's are there? Milesblue42 08/24/14 09:58:47 AM
#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