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IC Places Inc. (PNCH)

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Last Post: 9/20/2014 8:51:41 AM - Followers: 514 - Board type: Free - Posts Today: 2

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: Quarterly Report (10-q) 09/12/2014 05:12:26 PM
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
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
#117182   IMO maybe Steve will-find-out-before-Thanksgiving-2014 Ha Ha Milesblue42 09/20/14 08:51:41 AM
#117181   Why would they be indicted what crime did riverview 09/20/14 12:26:19 AM
#117180   My guess is the silence is in advance PLUTUS 09/19/14 11:16:16 PM
#117179   Why would the bottom flippers care riverview 09/19/14 08:56:55 PM
#117178   Pretty sad when the bottom flippers aren't even vincelong 09/19/14 07:40:41 PM
#117177   I was wrong riverview 09/19/14 06:44:10 PM
#117176   I don't think that Hot Dog inhaler can DocDiggler 09/19/14 05:06:50 PM
#117175   The only thing Steve Scumbliss has ever ran... maynerd 09/19/14 02:13:51 PM
#117174   Absolute failure running a public company, if that hhi3 09/19/14 01:58:53 PM
#117173   Is Steven Samblis a Real CEO or-simply-a-Stock-Promoter? Milesblue42 09/19/14 11:02:27 AM
#117172   Well, here it is. .0001x.0002. buyinit 09/19/14 10:31:41 AM
#117171   Re: Charlie 48 riverview 09/18/14 05:50:53 PM
#117170   Here, let me save you and meadow some time... Charlie48 09/18/14 04:27:14 PM
#117169   Dumping getting fierce! Weeeeeeeee buyinit 09/18/14 04:08:37 PM
#117168   That's not bad! I'm watching a few POS's vincelong 09/18/14 09:09:04 AM
#117167   Good news Imagination Tv is live on filmon,whats ronaldo1149 09/18/14 07:10:23 AM
#117166   Steven Samblis diluted 576,945,037 shares-in-less-than-169-Days Milesblue42 09/18/14 07:01:38 AM
#117165   How is everyone today? riverview 09/18/14 06:56:44 AM
#117164   Steve Scamblis has made lots of money here... Nitwit 09/18/14 01:53:12 AM
#117163   Wow 478,270 shares @ .0002 Nitwit 09/18/14 01:49:28 AM
#117162   No they don't and no they won't! Game vincelong 09/18/14 12:56:14 AM
#117161   Judge him for not what he's worst at vincelong 09/18/14 12:53:55 AM
#117160   There were probably other CEOs that produced no hhi3 09/17/14 08:27:47 PM
#117159   I can not comment if Mr. Samblis is riverview 09/17/14 06:36:11 PM
#117158   Is Steven Samblis a Failure of a CEO? Milesblue42 09/17/14 05:55:54 PM
#117157   Could cross the $100 dollar mark today. riverview 09/17/14 02:21:14 PM
#117156   LOL! Stevos dream. Didn't work out so well vincelong 09/17/14 08:07:41 AM
#117155   Good morning to all riverview 09/17/14 06:51:38 AM
#117154   Wow 100 Shares @ .0004 riverview 09/16/14 11:44:36 PM
#117153   Rofl .. 100 @ .0004.....not even trying any more Charlie48 09/16/14 10:37:44 PM
#117152   I am very impressed riverview 09/16/14 09:22:01 PM
#117151   I see on trades 60 mil at .0001 Ohh DocDiggler 09/16/14 08:42:06 PM
#117150   Who in their right mind would buy this maynerd 09/16/14 07:18:44 PM
#117149   yes 100 shares bought and rest sells lol ronaldo1149 09/16/14 06:48:39 PM
#117148   nice volume..... OGINVU 09/16/14 06:45:57 PM
#117147   Hahaha. This is awesome! Another reverse split coming? buyinit 09/16/14 04:38:51 PM
#117146   wow 127 mil volume with over 60mil at ronaldo1149 09/16/14 04:37:58 PM
#117145   Just do another reverse and put everyone out riverview 09/16/14 08:40:31 AM
#117144   Scamblis has completely gone mad! So many regrets vincelong 09/16/14 12:52:28 AM
#117143   I told everyone! I can smell that pig vincelong 09/16/14 12:46:50 AM
#117142   Lol.. Look in the mirror Charlie48 09/15/14 10:57:13 PM
#117141   Meadow 2009 where are you? riverview 09/15/14 02:40:25 PM
#117140   why not just say in Note 1 riverview 09/15/14 07:11:37 AM
#117139   BWAHAHAHAHAHAHA TR4GEDY 09/15/14 03:08:12 AM
#117138   There will always be a bid. riverview 09/14/14 07:29:56 PM
#117137   who would want "visitation privileges"???? getmoreshares 09/13/14 05:12:12 PM
#117136   What a pathetic loser he is... Some day maynerd 09/13/14 11:54:59 AM
#117135   Amazing riverview 09/13/14 08:17:12 AM
#117134   Hard to do with no bid coming vincelong 09/13/14 07:50:49 AM
#117132   Welp we know a ton more dilution is buyinit 09/13/14 07:11:01 AM
PostSubject