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IC Places Inc. (PNCH)

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Last Post: 7/23/2014 12:03:00 AM - Followers: 509 - Board type: Free - Posts Today: 1

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.

 

 










 







                                                                                                                                       

PostSubject
#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
#116261   Not too busy, just idiot CEO would never DocDiggler 07/23/14 12:02:59 AM
#116260   This is really a shame. meadow2009 07/22/14 11:39:58 PM
#116259   LOL-could it be DILUTION??? getmoreshares 07/22/14 07:50:33 PM
#116258   Just look at those tripps. $12,000,000 in revs huh. PLUTUS 07/22/14 01:42:45 PM
#116257   Has Steven Samblis officially run PNCH/Icplaces-into-the-ground? Milesblue42 07/22/14 12:31:00 PM
#116256   Why the sec let this happen for so MR prospector 07/22/14 11:14:48 AM
#116255   VuTelevision.com is for sale (Vu Television) darkodonnie 07/22/14 08:58:52 AM
#116254   Hard to win at this with blowhole around. DocDiggler 07/21/14 11:47:20 PM
#116253   Looks like shithead steve needed some cash today. PLUTUS 07/21/14 06:10:31 PM
#116252   20 mil in volume and it goes down, DocDiggler 07/21/14 03:40:31 PM
#116251   You have got to be kidding about this meadow2009 07/21/14 03:14:58 PM
#116250   Like clock work. BKRT dumps and than buyinit 07/21/14 01:15:58 PM
#116249   Nice dumping. BKRT will continue to dump buyinit 07/21/14 01:13:53 PM
#116248   IMO, Steve/CEO is destroying-the-PPS-with-reckless-dilution Milesblue42 07/21/14 12:14:51 PM
#116247   Is Steven Samblis a Con Artist? Milesblue42 07/21/14 12:09:47 PM
#116246   Looks like another R/S coming. AlmondRoca123 07/21/14 11:02:47 AM
#116245   Agreed a 4th RS is in the future iambadbert 07/21/14 10:31:39 AM
#116244   $PNCH slow and steady history repeat it self SlickTrades 07/21/14 10:29:06 AM
#116243   PNCH was a penny a few months ago... iambadbert 07/21/14 10:21:42 AM
#116242   SCAM ALERT... CEO needs money! Wants to sell maynerd 07/21/14 10:18:17 AM
#116241   $PNCH nice potential with PNCH saw high of SlickTrades 07/21/14 09:49:37 AM
#116240   I've been waiting to see if they can DocDiggler 07/20/14 11:58:11 PM
#116239   Too much risk with this pos . Complete scam Charlie48 07/20/14 08:33:54 PM
#116237   Good for you. You and Stevo should get vincelong 07/20/14 10:21:06 AM
#116236   Good luck bud. I don't care who Nicademus 07/20/14 10:18:12 AM
#116235   Steve Scamblis is the name! Say it and vincelong 07/20/14 10:16:46 AM
#116232   It's easy to write a neat business plan. vincelong 07/19/14 07:53:12 PM
#116231   There is almost no volume-No chance to dilute. getmoreshares 07/19/14 07:12:47 PM
#116230   Yep. I'm not concerned about traders. They will vincelong 07/19/14 06:58:05 PM
#116229   You mean pumped, not traded. There's no other Rich 07/19/14 05:25:51 PM
#116228   They were cautioned and warned-not much else we getmoreshares 07/19/14 05:11:13 PM
#116227   Not this one vincelong 07/19/14 04:53:28 PM
#116226   I agree, but my point is there is Nicademus 07/19/14 04:51:35 PM
#116225   Diluting to build the business is one thing. Rich 07/19/14 04:50:25 PM
#116224   NEWBIES(chart players)--READ the stickies and IBOX. getmoreshares 07/19/14 04:33:58 PM
#116223   I've yet to find an OTC stock that Nicademus 07/19/14 04:09:18 PM
#116222   I see it being frontloaded so some buffoon Rich 07/19/14 03:35:28 PM
#116221   Did you see it run 400% recently? Nicademus 07/19/14 03:32:25 PM
#116220   That's the most absurd thing I've ever heard. Rich 07/19/14 03:29:55 PM
#116219   Left it out? That's exactly what I look Nicademus 07/19/14 03:26:41 PM
#116218   You left out the recent RS. Rich 07/19/14 03:17:09 PM
#116217   That is ALL BS crap! None of it maynerd 07/19/14 02:04:49 PM
#116216   $PNCH recent news/filings stocktrademan 07/19/14 01:39:24 PM
#116215   LMFAO... You probably don't care that there is maynerd 07/18/14 01:23:29 AM
#116214   Nice loading here today, no news, no pump, Rich 07/18/14 12:56:42 AM
#116213   PNCH Chart http://stockcharts.com/h-sc/ui?s=pnch&p=D&b=5&g=0&id=p93498469228. AmerikanGreed 07/17/14 09:06:08 PM
#116212   Nice loading here today, no news, no pump, AmerikanGreed 07/17/14 09:05:14 PM
#116211   Steve Samblis = Pathetic Scammer Just a lieing maynerd 07/17/14 02:52:54 PM
#116210   Steve getting really desperate to sell shares... Every maynerd 07/17/14 02:48:21 PM
#116209   The facts speak louder than rumor... The fact maynerd 07/17/14 02:47:14 PM
PostSubject