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IC Places Inc. (PNCH)

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Last Post: 10/1/2014 7:11:37 PM - Followers: 514 - Board type: Free - Posts Today: 8


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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: Imagination TV Partners With FilmOn to Launch the World's First Hosted Self-Help Television Network 09/30/2014 09:00:00 AM
PNCH News: Imagination TV Partners With FilmOn to Launch the World's First Hosted Self-Help Television Network 09/30/2014 09:00:00 AM
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
#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
#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
#117231   LOL. Always with the outdated information. Brad S 10/01/14 07:11:37 PM
#117230   Wow, $4500 for dumping 45,000,000 shares. I guess graydave 10/01/14 06:24:28 PM
#117229   Nice dump Scamblis. PLUTUS 10/01/14 06:00:41 PM
#117228   Wrong. Target = NO BID. PLUTUS 10/01/14 05:59:53 PM
#117227   PNCH 0.0001 - Targets trader53 10/01/14 05:54:54 PM
#117226   No money for lawyers vincelong 10/01/14 08:46:43 AM
#117225   Scamblis has always been batsh@it crazy... Nitwit 10/01/14 01:16:43 AM
#117224   PNCH .0002 volume 0 Nitwit 10/01/14 01:10:53 AM
#117223   A clean shell is worth $500,000. He used PLUTUS 09/30/14 11:08:01 PM
#117222   The PR was for FINRA special investigations department vincelong 09/30/14 05:26:32 PM
#117221   Me two. Stevo needs us to keep him vincelong 09/30/14 05:22:33 PM
#117220   Self improvement pioneer! Now that made me laugh, hhi3 09/30/14 04:34:39 PM
#117219   Me too, lmao. Filmon has produced no revenues hhi3 09/30/14 04:32:41 PM
#117218   No volume at all after the big PR graydave 09/30/14 04:25:42 PM
#117217   it is a hoot...I think I'll stick around Charlie48 09/30/14 03:27:59 PM
#117216   I niece Scamblis was half crazy to begin vincelong 09/30/14 02:59:01 PM
#117215   Not one share traded. SCAMBlis, you suck. LMFAO PLUTUS 09/30/14 02:44:06 PM
#117214   The PR added a lot of volume today riverview 09/30/14 12:58:32 PM
#117213   PR is another lie. SCAM PLUTUS 09/30/14 12:36:24 PM
#117212   It means nothing. riverview 09/30/14 09:45:30 AM
#117211   LOS ANGELES, Sept. 30, 2014 /PRNewswire via COMTEX/ ronaldo1149 09/30/14 09:36:21 AM
#117210   AGAIN - this dog never learns. HighTech2 09/30/14 09:19:53 AM
#117209   This just in: ronaldo1149 09/30/14 09:08:48 AM
#117207   Your not fooling anyone pnch vincelong 09/29/14 09:52:48 AM
#117206   What is his new name? riverview 09/29/14 08:04:56 AM
#117204   I am back riverview 09/28/14 09:48:49 PM
#117203   OH MY--we finally made it back to .000000000001. getmoreshares 09/28/14 04:28:11 PM
#117202   There are so many of us in the playtowinthegame 09/28/14 01:07:54 PM
#117201   Thank you :) diannedawn 09/26/14 05:23:42 PM
#117199   Stevie... Come out! Come Out! Wherever you are!!! maynerd 09/26/14 01:49:50 PM
#117196   LOL! Not much of a dance for graydave 09/24/14 01:31:27 PM
#117195   Cracks me up how that POS Scamblis will vincelong 09/24/14 01:26:58 PM
#117194   LOL! I can think of a few better vincelong 09/24/14 01:24:31 PM
#117193   WOW! Just checked my statement and the hundreds graydave 09/24/14 11:00:15 AM
#117192   Not a lot of days left til the riverview 09/24/14 07:58:10 AM
#117191   Not to many fools left that don't know vincelong 09/23/14 06:21:25 PM
#117190   This POFS still have a bid? PLUTUS 09/23/14 05:23:34 PM
#117189   With 43 cents riverview 09/22/14 08:00:19 PM
#117188   He definitely does as you can see. Always vincelong 09/21/14 08:28:18 PM
#117187   This has been goin' on for many yearzzz... Nitwit 09/21/14 07:08:15 PM
#117186   Does Steve Scamblis still post on iHub? :-) Nitwit 09/21/14 07:05:53 PM
#117185   PNCH was up 100% Friday from .0001 to Nitwit 09/21/14 07:04:50 PM
#117184   Being a lying piece of shit crook. PLUTUS 09/20/14 06:39:51 PM
#117183   10-4 sir vincelong 09/20/14 06:36:06 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