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Spencer, ain't it the truth! I am today.
If the MMs drive it below .0055 again today, I'll pop another 1/2 million for next week. It's more fun to make a few bucks than to watch the opportunity to make a few come and go. Especially in such a great channel stock as PLNI is right now. News sends the PPS up, MMs short the crap out of it and then drive the price down. They take a bundle and then, let the price float until the next news. And away we go again.
I wondered where the money was coming from for the acquisitions. Increase in OS shares? Maybe?
Taki, just look at the past 3 months. I've taken over $10K by buying and selling in the channel. I am holding 1/2 million long for anything good that happens. In the meantime, I'll continue to ride the waves. If I buy 1/2 mil shares at .008 and sell at .01, it's still $200 I made. Not looking for $10.00 a share but $3000 a month until the news breaks. Then, I might have to average up if I want to stay in over my 500K.
I honestly hope you become a millionaire. I'll settle for consistant gains. Been here too long and lost too much before I realized that I can make some money and be more satisfied than losing (like I did on CMKX) and being sad. Good luck to us all in any way we play the game as long as we come out ahead of the MMs.
Spencer. I'm not a day trader but the 500K shares I bought this morning at .0049, I just sold at .0063. With NITE and UBSS as active as they are, I took $700.00 and am waiting for another draw back.
UBSS just sent the PPS down and took a ton of profit. They scare me every time I see them working a stock. They've driven it down since the first of the week. I don't like to be negative but the MM manipulation in the pinks is too blatant. I hope that the guy who's appearing before the SEC in Feb. gets his point accross about naked shorting and pink sheets manipulation by MM's like UBSS, NITE & others.
I don't mind working the channel as I told Herbert this week because I,ve made good profit for three consecutive months but for those who are holding long and have a small amount to invest, it's a scary thing.
Well, good luck to all. I just bought back in the 1/2 mill I sold at .01 at .0049 and will do it again at about the same price. I need a new surf board on this stock. Make money and enjoy.
It'll be interesting to see if UBSS stays on both sides at .0072 & .0073
Herbert. Thanks for the nice response. I would expect to see financials from PLNI after the acquisitions are completed and the cost of acquisitions are written off. That way, they will produce statements that are positive and show a profit, especially with Semco.
The FASB requires that all acquisition costs in excess of book value (Blue Sky) be written off in the year of acquisition since it no longer has any intrinsic value. Previously, you were allowed to write it off over 30 years which seemed senseless to carry a multi-million dollar asset on your balance sheet with no value.
Also, there is the move to OTCBB which might or might not occur ths year. However, I really think that this is one of those long term stocks that you look at and say, "I wish I would have bought and kept it back when....
I also agree that PLNI hasn't been on time with their releases but if you look at the longer term, they are making them all come about.
As I stated in one of my previous postings, they have financials. They have to report to the IRS. I am like you. Other than my DD and the info I have gathered on the company, I would love to see a current statement.
Actually Herbert, I apologize for my rudeness but I really feel that bashing would be fine if it was backed by facts. One of the reasons that PLNI is still sub-penny is the 8-1 split. It makes good sense to stay in the pinks if you want the SEC on someone else's back and you want to buy back at drawback PPS. Pinks allow you to do that. It is a severe channel stock at this time and I think I see a developed channel between .0055 and .009. Of course it will go above and below this range but profits are good there. I sold at .0085 in November, took the tax write-off difference at .0101 and bought back in at .0039. Sold half at .01. Now, I'm looking for something over .01 and stability to hold some shares or a PPS at .005 to buy back in again. I'll be watching NITE closely. This is a great channel company right now to make money on. It's increasing it's balance sheet even if it's not published. I would like to see some debt to equity ratios and current assets vs short term liabilities. But I know without looking that this company has one great PE ratio.
Herbert, if I can make $3000.00 a month on a fraudulent company, I will continue to do so. Bashing is for the mentally weak. Since you are so good at it, then I assume the rest follows. I hope you make money here because if you do, I will continue to prosper also. I never iggy anyone. It's fun to see what everyone has to say no matter how they think. Good luck in all of your investing.
No company can control MM's, especially when the stock is piggyback eligible and they can quote. If you don't like the stock, dump what you have and let the rest of us alone. I have sold this stock and bought back in 3 times now with a very good return each time. Just shadow the dominant MMs and make a buck instead of whining about the company. I'm here to make money. Maybe you should consider doing the same.
PLNI has been in business over 20 years and has continued in spite of long term plans that endured through a very severe recession. It's very easy to cast negative comments at any company but I suggest that before anyone sticks their foot in their mouth by calling this company a fraud that they do a little DD and historical research. PLNI has only had this name for a short time but it's been around a long time. This company will continue to progress but it's not going to happen overnight.
just read about UBSS & NITE as being the largest volume trading brokers on stocks they can control. I also read about "Shadowing the dominant market maker". It seems that the pps is going to drop according to these indicators. It might be nothing but a coincidence but it looks somewhat ominous.
Oh well, I've held at .0036 and I can hold again. PLNI will come back. Still looking to break .01,hold, and then continue upward. Good luck to us all!
X-Fortune, you're right. The only time the SEC denies anything is when guys like Big Blue or Microsoft are in the news with a possible monopoly and there is desention in the ranks of other LARGE competitors. Other than fraudulent activities, I have never seen a denial. It does take time. The SEC is "Agency" and they usually have their paper trail to go through along with prescribed waiting periods.
I would hope, now that pending acquisitions are completed and PLNI is in a position to complete consolidated statements which could look fairly decent, that we see some financials sometime within the second quarter of this year. I hope anyway. If not, what else is on their current horizon that is newsworthy except "new customer" or "new associate" releases?
I also see that VFIN has brought their sell price down again. I hope that they aren't trying to average back down to cover shorts. Just a thought.
Staying long and hoping for all of us to make a few cents on this one. Good luck to all!
Rook, I couldn't agree more on some financial information on what's going on inside of PLNI. They must do monthly reporting for their own edification and, probably, their banking and lending institutions and I know that the have an obligation to the IRS. So, they are putting numbers together.
The question here is the same one you are asking. Why not release them. Well, perhaps they suck at this time and their early release might cause a drastic drop in PPS.
I don't know the whys or wherefores, but I assume that someone somewhere within the company has a reluctance to share this info.
Thanks for the positive responses to my post. I agree that erroneous and misleading information should be rebutted but I also think that people such as we who are somewhat more enlightened about discussions for the benefit of all can do that without pesonal attack. I don't want to be a wet blanket. I really enjoy the banter and meaningful discussion and the enlightening exchanges of personal ideas. After all, we are all looking for information that will benefit everyone.
About the audit release, your guess is as good as anyone's but I believe it will come. If I were Turek, I would wait until I wrote off all of the acquisition and consolidation costs and include all profit making ventures in my first audit. I would also buy back any additional stock if I were so disposed, at the current pricing. Then, I would release a statement showing good ratios (P/E, Inv. turns, D/E [S.T. & L.T.], etc.
I also agree that the company has had a shaky history but I have a deep down feeling that it will succeed, especially if it continues to acquire money making ventures that are allied with their primary products. I'm staying and hoping!
MMs buy continuously. On the piggyback stocks where they can quote the stock, they never stop buying and selling.
Put my shares up at .0001 and sold them all. Lost my $10.99 each-way brokers fee. I expected worse based upon the past few months performance. Would probably not buy in to UNQT again.
I read only this board except when someone posts a reference to another applicable source. I have grown to really like the folks who post here but lately, it seems that this board is for posting personal criticism. Why don't those who wish to shoot one another down trade e-mails and send your crap person to person so those of us who are interested in this company can have information and trade ideas that are of a significant nature.
Just a note, it looks like the MMs might be trying to hold the price for a drawback. Either that or someone is buying back or a large long is dumping. Maybe some shorting going on but it is probably short term. I hate piggyback stocks where the MMs can quote the stock. Good luck to us all and I hope for great news from PLNI shortly.
rrm_bcmu I've never seen anyone, offshore or other, naked shorting an established company that has been around 17 years and is progressing. The naked shorts jump on companies like CMKX, UNQT and others that have a better than even chance of going under. Then, the naked shorts are never filled. I would think that it would be ludicrous to short a stock where they are buying back 200,000,000 shares with plans to but back more, go onto OTCBB and publish financials with a goal to trade on one of the big boards. Not much hedge available on these stocks. Too risky.
My opinion is that the stock will take a slow rise after the first of the year. The tax effect will be over and few will be jumping out from fear. It is unlikely that VFIN or NITE is naked shorting this stock given NITE's clean bill in the CMKX deal. Most of the larger MM's don't deal in shorting under $1.00. Also, Turek should be waiting until 2006 to make a move. End of year isn't the time to publish financials. Also, IF we do have a consolidation of three companies, the audited statements would take about 4 to 8 weeks to publish. Then, the consolidation might show a small profitability. If Turek is going to buy back the stock, now is the time. I also noticed that we are seeing very large blocks being purchased at .0037 to .0039. All good signs for us longs. Good luck in '06!
VFIN back at .0041. Fooey!
Looks like VFIN might have dumped their last 3mm shares at .0038 unless they're waiting for a bit of a price increase. They're off the pink sheets as a seller right now. TASL is at .0042. Wonder what will happen next?
I think that we will have VFIN dumping their order until year end. After that, there will be no tax advantage to continue dumping if they have 12 months to see what happens with the stock. Everyone knows that profit (at 38%tax rate) is better than a tax write-off unless you're a corporation at 50%.
Been away for awhile but, to answer a couple of questions, you can find the regs on the 1040 Schedule D instructions available at the IRS site. Or, you can go to the library and search the regs.
I sold my stock a little over a month ago when it was up but I still had a loss. Now, I am buying back in (got 200,000 @ .046). Like someone else posted some time ago, this is a great channel stock and that's how I'm using it. I was holding long but penny stocks are too volatile for me to hold for a big kill. I'd rather take smaller but sure gains.
I see the current channel (my guess only) between .005 and .0075.
Anything that's acquired below that price should be gravy. Any sales over that should also be a plus.
GOOD LUCK TO US ALL.
PS - I think someone is dumping a ton of PLNI through VFIN. Don't know who but could be financial institutions or warrants that were converted or, who knows?
Actually, my write-off net of the recovery at .006 is about $800.00 which is mostly deductible against earned income since I've had few stock market winners in 2005. PLNI won't make me rich but, even with a reverse split, I am looking at a grand or so if the company does what they say they are trying to do. Timeline? Who knows? Will see how we sit next December or before, if the stock takes off. Good luck to us all and a Merry Christmas (or happy holidays if you're so inclined) to all.
Shortsinthesand-Informationally, the rule on Capital losses - Capital losses can offset capital gains to the extent of the capital gain. The $3000.00 limit is the amount of capital loss that is allowed against earned or ordinary income. That is in excess of the write of against capital gains. I only had 184,000 shares. And since I'm a retired accountant, my income is limited to my pensions so I don't need much write-off. You are 100% right though about gains vs losses. I would much rather pay tax on a gain than have a write off. But, since I do have faith that PLNI will rebound, buying back in at .0046 and writing off about $1858.00 (I was averaged in at .0101) and still having 200000 shares at $920.00 (sans fees) makes economically sound business sense to me.
At least it appears that the big distribution by VFIN is over. I don't know about the rest of you but I always sell my losers at year end and buy back in 30 days so I can take the tax benefit. I'm about ready to buy PLNI again but I will be at about 50% of my original price and have a nice tax write-off. As soon as the folks doing the same thing I do are finished, we should see an upward trend even if we have no releases until about mid January or so.
Luck to us all.
Lot of PLNI sold between .005 & .006 so I expect to see profit taking for awhile, sans any good press releases. Good luck to us all.
Financials take time to put together after a consolidation or acquisition. I really don't expect to see audited financials for another few weeks. Just my opinion -retired accountant for 30 years).
Finley, Earlier, you said that PLNI was a great channel stock. I am still waiting to see any .3-.6 type channels. The darn thing does go up and down and I'm sure that change (a few bucks) can be made but I don't see a definite channel pattern yet.
As I see it now, discounting the dip to .005, the channel is inconsistent and very small. .007 to .008. Of course if your dumping several million shares, that would be enough.
Anyway, what do you see as the channel range right now?
I'm glad that the profit takers are getting out at .008 and over. Unless the stock comes under another major dump, we should see it climbing as news is released. I agree that we could see .02 within 30 days. I'm hanging onto mine. This company is well established and ready to break out in my estimation. Good luck to us all.
Looks like VFIN completed it's dump a couple days ago and it looked like they transferred a ton of stock to other MM's at about .0063 to .0069. So, maybe market demand will rule again. I hope so!
nano, maybe you should dump 2709, 2710 & 2711. It's bad info. I used a URL from an earlier posting which was the wrong Pro-Mold.
I obviously sent it to the wrong Pro-Mold.
I took the url from another posting on this board and asked them by e-mail. These guys make cases and displays.
I should have done a bit more research.
Sorry to have created a stir. I didn't intend to.
For some on DTCC, CEDE Corp & SEC see posting 2639
Huntingelvis, here is an excerpt about the DTCC and SEC
My experience in the stock market was like that of most investors. It was my understanding that I instruct my broker to take my money and locate someone who had the stock I wanted to purchase and purchase that stock for me.
1. I never imagined that a broker could take my money and pay his commission,the commission of the market makers, the fees of the SEC and the fees of the DTCC and never obtain my stock.
2. I did not know about Cede and Company.
3. I did not know about a “Stock Borrow Program”.
4. I had never heard of a “fail to deliver”.
Then, I find that “fails to deliver” is such a problem that it was necessary to pass a law called Regulation SHO which made the market report these fails to the SEC on a daily basis. On top of this, Regulation SHO does not appear to be working for anyone but the market manipulators that perpetuated this problem in the first place! When I learned that short sellers could amass these fails and drive a stock price into the ground, I became convinced there was a HUGE wrong in the stock market that needed to be corrected.
CMKX stock seemed to be a poster child for this illegal trading technique. Now how does this trading technique catch up to the wrongdoers. I have heard that occasionally short sellers get caught with fails on their books and they have to go into the market and buy stock to close out their position. Since it works to the short sellers advantage by causing the stock to go down when they naked short a stock, it should work in the opposite direction to cause a stock price to go up when the stock is hard to find because of their short selling techniques. Many people bought this stock because of this possibility.
How does the market correct itself? First, it must become apparent that a naked short exists. We must prove beyond a “shadow of doubt” that more shares have been sold into the stock market than was issued by the company.
Although the SEC, the DTCC, the NASD, and most Broker/Dealers know the daily positions on this stock, current law does not provide for the company to acquire this information through simple requests. Company stock comes from the transfer agent. Legitimate shares are all backed by certificates issued by the transfer agent. We know the stock market allows brokers to sell stock even if they do not own it.
Now, we must solve the mystery of how much real stock has been sold and how much stock has been sold that was not based on certs issued by the transfer agent.
The company wants to divide the Entourage stock among its shareholders. We must now force the market participants to tell us who has positions in this stock. Unfortunately, we can’t rely on the broker statements because we know that many brokerage transactions occur ex-clearing (remember the Jefferies letter) and we know that our shareholder’s statements do not say “this transaction is currently in a fail to deliver category”. Even though your broker has a fiduciary (this means they are required by law to tell you of bad things that might be going on in your account) relationship to you, you are not told that your stock is not actually being held for you. (in the case of a fails to deliver). I am NOT amused when I read a response from a broker dealer that says you should tell the company that you are a shareholder because we have sent you a statement that says you own stock.
This summer, we tallied 12,000 shareholder statements and documented 400 billion shares of stock. This did not include cert holders. We know there are approximately 60,000 shareholders based only on the figures given to us by ADP and the transfer agent. There appears to be many more! Combined, the NOBO/OBO list plus the cert list even proved a short in and of themselves of over 50 billion shares, and this did not include the billions of shares traded that were not reported through the DTCC and it did not include most Canadian brokerage holdings or other foreign accounts.
The company would be derelict in dividing the stock based on brokerage statements, we must require certs of your holdings. This may be one big inconvenience for you as shareholders, I know I hated to write my check out to my broker for my cert. I would imagine it will also be a big inconvenience for some market makers and brokerage firms to have any “fails to deliver” become a public problem. Our stock is not trading at the moment, so the shorts can’t simply send some bashers to the boards and buy the stock at a discount to close out their positions.
As a UNITED FRONT, this loyal group of shareholders has a chance to not only make history, but to start rebuilding the financial integrity of our U.S. markets for the sake of our children and grandchildren!
My job is to present to the company a list that represents all CMKX shareholders that own stock. All CMKX shareholders should all participate in this distribution. Due directly to the Stock Borrow Program and a market system which allows “fails to deliver” to exist, a shareholder list that is made from broker statements cannot be relied upon to make this Entourage distribution. The entities that are helplessly short would love for shareholders to lose interest or to justify non participation because of the cost of doing so. If enough shareholders are apathetic or simply don’t have the resources to get their certs, the shorts benefit. 50,000 to 60,000 motivated shareholders can make great changes in the market place. Give serious thought to any reasons you have for not pulling your certs. I would also suggest you read the article at http://www.cmkmtaskforce.com/dtcc.php about the DTCC and Cede if you are still not sure if you need to be holding certificates for your stocks.
I must ask all of you to please be patient as we record the certificates you send us. We have devised a system that requires to you to send only your certs and a cover page. Do not send other pages even if you think it is necessary to explain something. Use the task force web site to offer your comments or convey your problems. We have people that will be working long hours entering your information into a database. There will be times when you will experience a busy signal. We are using multiple lines connected to one fax number but there will still be delays. Do not panic. This is not an attempt to avoid including any shareholder. Quite to the contrary, it is an effort to make sure that everyone is included.
We have been told that Schwab and Etrade are beginning the process of automatically sending all CMKX shareholders their certs without request. These companies should be commended if in fact they follow through with such a course of action. Every brokerage company that claims to be holding your stock should be able to do likewise. We expect many other companies will follow suit. This will allow us to quickly and accurately compile a list of all shareholders and their positions in this stock.
Having said all of that, a word of caution, do NOT become complacent and assume your certs will appear. Remain diligent in following up often with your broker!!
On a final note, we have received many notices from shareholders about difficulties in obtaining their certs from their brokers. Some have problems with stock being in an IRA account, 401K account and many shareholders that have brokers that are just plain refusing to obtain certificates for them. As a task force member, I can only recommend that those persons continue to call their brokers often. Be assured that the Task Force is discussing ways to address these issues. We have been told by some shareholders that many banks provide a securities attorney to their customers for advice and that many times these services are free.
Tnx state780. Good info and not surprising that VFIN is the seller.
PLNI appears to have been under distribution by VFIN. I don't know but it looked that way. I also don't know who's selling that many shares. Perhaps someone has exercised some warrants or liquidating shares against financing. Who knows? I sure don't. I'm just hanging on and hoping I get back to .0102 for a breakeven. Good luck to us all!
Nonopatent, what happened to my post that explained CEDE & DTCC for everyone to understand what they are up against? It happened to be in a CMKX release but it was very noteworthy for all small investors who don't understand that they really don't own their stock unless they have certs. CEDE Inc. owns them.
Also, a very good article about the DTCC was included. Should have let it stay so people could be informed. Just my opinion.
Insight - For those who aren't in CMKX here is a little bit about your stock.
http://www.cmkmtaskforce.com/dtcc.php
Well, it looks like the MM's are running the price back down to cover their shorts they sold at .0075. Man, I hate market makers. I also hate Piggyback stocks where MM's can quote anything they want. When I get out of PLNI (at .01) I am leaving the penny stocks to all of you. I am tired of hoping for a mother-lode strike.
Anyway, I'm holding until I make a few bucks on this even if it's posthumously. Good Luck to us all.