Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Jim - I once had this same problem when I used to trade with Fidelity and their phone people couldn't explain why they would trade some penny stocks and not others. I called Scottrade yesterday and they are trading PLNI, however, I know that their policy is that they will not allow you to trade any stock worth under $4 on margin.
Actually, Nano, this has been one of the better boards for quite a while. Now it seems that it has been invaded and I really don't know what these people think they are proving. Jim Stop Loss is one of the most informative and valuable posters we've had here and has spent a great deal of his personal time giving us the benefit of his experience in the business of accounting and yet he's been under attack by some of these people as I have when I've commented. I invite you to read my posts and then read the responses from some of these other posters. I know that IHub, unlike Yahoo, is a post for pay service and maybe you can't delete messages or posters the way board moderators can on the yahoo boards but I would hope you could get rid of some of the really serious offenders. Thanks. Fynley.
Actually it's a good idea to check the structural integrity of this thing before it flies. After all, we're kind of new in this business and it's possible that something got overlooked in the initial design. A little insurance is allways a good idea.
Actually your comments don't really merit a response, except to say that it looks like the whole goon squad from SI is moving over here, otherwise why would you go to the trouble of double posting attack messages that really say nothing. We were doing just fine on this board until you guys showed up.
Jim - I just called Scottrade and they informed me that they are accepting orders for PLNI. I don't know what the problem is with Ameritrade but my broker isn't having any similar problems.
"Cast Not Thy Pearls" as it says in the Good Book. Jim, if it is your intentiont to contact the SEC, I, as a person holding a major position in PLNI, will heartily support you. We're both wasting our time trying to communicate with the goon squad that has invaded this board. Actually, the SEC made an announcement this morning about new enforcement procedures that they are putting in place and I hope it sends a cold chill through some of these stock manipulators. If PLNI can't account for its financial activities that's their problem. If I'm going to get screwed out of my investment, I'd very much like to see someone go to jail.
I've been through 6 years of seeing ADGI/GTE grow into a viable company and we went through many crises with them and we still are to some extent. The difference is that they were allways up front with their financials and other information. I hope I'm wrong about PLNI but the frenetic activity I'm seeing on these boards is making me suspicious.
Jim - I wouldn't waste too much time trying to reason with these guys. As I said in my previous post to Nano, it's up to him to enforce standards on this board and if he wants to tolerate people like this who use these kinds of tactics then this board and IHub generally will suffer the consequences. Both of these characters who are attacking us have allready been discredited elsewhere. Even the posters on RB have had a nose full of them. I don't know why this is happening here and it makes me curious but that's about all. Keep up the good work. Right now the only solution I can see is to set up a membership board on another thread. TTYL.
Hey Nano - You really need to clean up your board. You've got people posting here who are pulling the same stunts they do on Raging Bull and Silicon Investor. Attacking legitmate posters like Jim, making everyone out to be a liar and multiple posting to take up your whole board. They are also soliciting members from your posters for a private board they are operating. Don't take my word for it, ask the other posters and check out RB and SI to see how they operate. Good luck.
Jim-Now you can see what I was talking about. This hysterical misfit has been haunting several boards and probably doesn't have more than the cost of a couple of sixpacks invested in this stock but he's going to hold everyone to account. I wish the moderator would do more about blocking these kinds of postings but I guess he limited in what he can do. By the way, the March 23rd posting I made(somewhat in anger over JT's long and uncalled for silence) could still come true. I hope I'm wrong since I still have a major position in PLNI and I am hoping for the best.
JSL - I've been viewing and contributing to these boards for most of the last 7 years and I can say that what you are going through now is exactly why I personally don't believe setting up these boards based on company orientation is a very workable or even rational idea. Originally, Raging Bull was the place to go not just for action but for information and many of the contributors were persons like yourself who are trying to engage in some kind of real dialog and exchange information with others who apparently have the same interest. It didn't work at RB and it's failing here for a number of reasons, most notably because the market is attracting people who have never invested before and many of whom are risking money they really can't afford to put at risk, much less lose. There's a "catch-22" at work here also in that the boards have to be more or less open or most people simply lurk and never contribute or they totally ignore them. If they're open they quickly turn into name calling contests and playgrounds for many people who simply don't have anything better to do. If they are more private, like boards I've started on Yahoo and other places, very few people contribute.
I don't know if you've looked into Lowtrade's board here on IHub but it is more in keeping with the type of board I think we all need. Of course Lowtrade does most of the DD on the board while others discuss a number of different stocks and solicit opinions from the other board contributors. It's not an ideal situation but I prefer it to this business of attacks and name-calling which doesn't do anyone any good. Right now, for reasons that I can't quite understand, IHub seems to be the place preferred by most posters but of course that could change also.
I'm open to any and all ideas for how we can all benefit from an open exchange of ideas regarding a number of stocks or other investment possibilities without the ad hominem element entering into the discussion.
I also believe in "OT" and "eom" as courtesies we can show each other but getting people to use them is another matter. I also believe that when we have a poster like Jim Stop Loss who goes out of his way to write informative and useful posts we should content ourselves with having the information, even if it is mostly off-topic. Very few people contributing to message boards, including this one have any real applicable skills or knowledge that might be useful. JMO.
If Anything Good Comes Of This - It will be the lesson that you can't engage in fluff PR's like one does on the pinks or the BB. You do business with reputable people who are capable of upholding their end of the deal and you announce it when the money is in the bank. This Russian deal smelled bad fromt the getgo and, perhaps, a wiser and more wordly exec like Randolph Dumas would have seen through it in time to save us this embarrassment. As things stand right now we could get a goverment contract for 20 stratelites and no one would beleive us. I've been through a lot of tough times with this company which makes it all the more frustrating when this sort of thing happens. No wonder we're vulnerable to crank journalists and short sellers, we're giving them all the ammunition they need.
If Anything Good Comes Of This - It will be the lesson that you can't engage in fluff PR's like one does on the pinks or the BB. You do business with reputable people who are capable of upholding their end of the deal and you announce it when the money is in the bank. This Russian deal smelled bad fromt the getgo and, perhaps, a wiser and more wordly exec like Randolph Dumas would have seen through it in time to save us this embarrassment. As things stand right now we could get a goverment contract for 20 stratelites and no one would beleive us. I've been through a lot of tough times with this company which makes it all the more frustrating when this sort of thing happens. No wonder we're vulnerable to crank journalists and short sellers, we're giving them all the ammunition they need.
Actually Star you played it the smart way. I've had a lot of money tied up in this thing since last fall and I could have made a lot more money on other investments. PLNI has the prospect of being a good long term play, that is if you can trust Jim Turek not to do a reverse split or use some other gimmick for sucking all the equity out of the stock. I intend to sell it on the first good runup which I believe will happen in May. After that I might channel trade it or play with it in some other way but I have certainly learned my lesson about getting to far involved in pinkers.
Starboy - I take it from your lack of comment that you have pretty much given up on PLNI.
Jim - Do you feel PLNI can dig itself out of this hole by coming up with an audited 1Q report. First of all it would bring all the financial figures up to date and would include the revenues from Pro-Mold and Semco. It may not be likely but do you think it might be possible that JT put out that 47 page abortion knowing full well that the 1Q was really the main event and it really doesn't matter that much what we did prior to 12-31-2005, or am I giving him too much credit for being smart?
Jim - This is just an uninformed guess but the low volume suggests fear to me. There was too much delay in releasing the information and too many still unanswered questions. This is still a company with one customer and a lot of debts. I also noted, as I'm sure others did, that the Director of Marketing is the CEO's son. I think we need a pro in that position since this isn't a glamor product that sells itself.
One other point if I may pick your brain for a moment. I fully agree that the pinks are a place to get in and out with small profits. My problem is that I have never been able to come up with a method for keeping track of trades and I don't feel like paying a fortune to have my taxes done at the end of the year or end up owing Uncle Sam money because I miscalculated.
Can you recommend a software product for doing this or a broker who is helpful in this area. I'm currently using Scottrade and they are next to useless. All advice greatly appreciated.
Actually Jim, this is my last adventure in the Pinks. I did finally make some money on GTE but it took a long time. PLNI looked like a world beater last August(As they all do initially)and it's been a soap opera ever since. As with today we're subject to the MM's and any other manipulators who want to play with our money and I'm really fed up with the whole scene. The SEC is never going to clean up the OTCBB and the Pinks no matter what they promise. As I said I'm looking forward to any reasonable runup over my basis and I'm gone.
Any Opinions On PLNI's 47 page "unaudited financials" that were released yesterday? All opinions welcome.
This is an old story with pinkers and BB stocks. It's allways the future, the land just over the next hill where the gold will be found. The real truth, and what I am patiently waiting for is that first real runup, something that will cause this stock to suddenly spurt up the way HISC did a few months ago. Of course they had the advantage of a terrorist bombing in London to spur interest in their products. I'm looking for something modest for PLNI, like a big Katrina contract that might cause this stock to hit .04 or .05. I missed the boat on ADGI/GTE when it was a BB stock and I learned my lesson, don't be greedy. Believe me the MM's will let this baby run once they're sure they are on the gravy train with the rest of us. If you like PLNI as a long term play you can allways buy back in when they run the price down.
PLNI does have long term prospects but the jury is still out on a few major issues. I'm not buying this "buyback" promise at all. Would it make sense for JT to spend $4.8 million dollars to buyback 1 billion shares when they could use that money for further expansion or settling debts. Of course not. When the time comes they will apologize profusely and do a reverse split. Otherwise you can forget about ever getting listed on AMEX or NASDAQ. JMO
LET'S GET ON THE BALL GUYS!!!
We all belong to a number of boards so lets start talking up PLNI everywhere! We were waiting for the financials and the buyback well now we have the unaudited financial and the promise of a buyback so let's let everyone know. OK. Let's go!!!!
You are correct as far as it goes. HISC rocketed up to.13 last year largely on hot air and good timing but then they still had their credibility intact. They didn't go back on solemn promises and then remain silent for allmost six months while their S/P plummeted. You can also bet that there are a lot of "believers" out there holding large blocks of stock who are going to bail the minute this thing comes anywhere near their basis and that alone is going to serve to suppress any real progress in the S/P. Hidden in all of this is the real fear of a reverse split which would quickly cause allmost all of our equity in this stock vanish overnight. Yes, I know Turek promised NEVER to do an R/S but then he has made other promises as well. I'd like to continue to "believe" but I need more in the way of proof than unaudited financials that are not even enought to get us re-listed on the OTCBB. Today's reaction by the market is also proof that for the present time there are a lot of peoply out there who aren't "buying".
JSL - I was waiting for your analysis of the "unaudited" financials and you came down pretty much where I expected you. The figures in some cases are startling but at least we have them now. No, this is not a buy and hold company but it does have some prospects over and above the usual pinker. By the way, we will still need the audited financials in order to get back on the OTCBB, otherwise this was all a waste of effort. What we will also need are audited figures for 1Q-2006, otherwise no OTCBB.
After having lived with the ups and downs of ADGI/GTE for the past 6 years I'm not prepared to do it all over again with PLNI. I am impressed that they keep using the word "buyback" rather than "reverse split" for dealing with our bloated stock situation. I hope he's telling the truth on that one.
JSL - I thought I would ask you the following since you mentioned you have been involved in the world of corporate accounting. First, it has now been over 5 months since the Semco acquistion and even longer for Pro-Mold. Is their any conceivable reason why the company, which was allready in the process of a complete audit, experience such a delay in completing the audit or at least be constrained from releasing some preliminary financial data.
As to the float size there seems to be some confusion between what is AUTHORIZED and what is actually in the float. Do to the low share price it seemed to me that increasing the A/S was a wise defensive tactic on JT's part to prevent a hostile takeover. As far as I am able to find out the float size is 3.7 billion which, while significantly larger than JT originally promised still largely represents shares held by him and other company insiders.
The long silence represent an additional problem but then I hold stocks like GTE which flood the market with meaningless PR's and suffer credibility loss as a consequence.
I'd like to believe that we will all have good news in these areas soon. What's your take?
I looked through the list of company officers and I was wondering why, for example, James Bonn who heads accounting and adminstration couldn't put out an advisory to the stockholders on the increased revenue stream since the acquisition of Pro-Mold and Semco, or why Steve Murphy the head of Manufacturing and Production couldn't fill us in on the increase in production we've experienced utilizing the new companies or how James Turek the second who is head of marketing could fill us in on how he intends to market our line of products utilizing other suppliers than Bluelinx and what he is doing internationally in places like Poland, Egypt, and Israel.
I don't think any of what I suggested above would violate SEC rules but then again we are not an SEC reporting company, are we?
All advice and corrections gratefully accepted.
JSL - I forgot to ask you if it's possible for stockholders to force a company to reveal its tax information whether they file it with the SEC or not. It seems logical to me that the owners of a company have a right to see where and how their money is being spent and what is being paid to the government in taxes?
TIA
Low - Isn't it possible to dig out tax and financial information on publicly held companies from the IRS? Aren't the tax records of any corporation a public record whether they file them with the SEC or not? Lastly, is it possible for stockholders to force a corporation to reveal its tax records? TIA
Jim Stop Loss - It occured to me that since PLNI is a publicly held corporation that their tax records should be as accessible as any other corporation or person. For example, I just heard on the news yesterday that Dick Cheney is getting a $1.9 million refund on his taxes. If the news media can find out about how much he's getting or how much GM is losing why can't we find out what Plasticon is paying or not paying in the way of taxes. Same for Turek. Who needs an audit when we can go to the good old IRS and find out what we need to know.
Am I being to simple minded here? Please advise.
I Worked With Jim Turek Back In The 60's
I sent JT a fax last week about the good old days when we both worked at Douglas Aircraft Company in Long Beach, California. I didn't figure that Jim would remember my name as I really didn't remember his either but we worked with and for the same people and I thought he might have remembered some of those names. We're also the same age. Those were wild times when the government was throwing money around even more stupidly than they're doing today and it was real fun living in California and working at a place like Douglas.
Anyway I haven't heard back from him as of this date. It's possible he's not the nostalgic type or maybe he just has a bad memory. All I can say is that if he runs PLNI as badly as all of us ran Douglas Aircraft(Now owned by Boeing)none of us are going to make a dime on this stock.
Happy - Who did you talk to at Bluelinx. Not the name, just the position or job title. Several people have claimed to have talked to Bluelinx but I have yet to see anything substantial about who it was they spoke with or EXACTLY what was said. For example, there are billions of dollars in contracts being let out on the Katrina programs and I'm wondering how much of that is going to Bluelinx, or their customers, and indirectly to PLNI since we make the kinds of products it seems these people will need.
What would we sue him for? GTE is a publicly traded company and Jayson has every right to give an opinion on how well or badly run he thinks it is even if he doesn't get all of his facts straight. Trying to prove malice in case like this would be next to impossible. It's time for our lawyer to shut his big mouth and go to work on getting us the financing on the Russian deal.
Haven't They Heard of The First Amendment? Why would any lawyer in his right mind write a threatening letter to Seth Jayson at Motley Fool knowing full well that it could only stir up more trouble for this company. First of all he hadn't attacked us in a while and I was hopeful he had adopted a new target for his venom. Instead, our brilliant lawyer, whoever he is, wrote him a letter implying, if not threatening him, with some vague consequence if he doesn't stop trying to contact Tim and/or stop writing bad things about us. RESULT: we have another defamatory article and the S/P is sinking like a rock. Nice move guys, I'm really impressed with your tactical genius. Maybe we shouldn't wait until November or December to dump Huff, maybe we should do it now. LONG SINCE 1999 and still holding.
Jim - I've enjoyed reading your posts and I have to say you're numbers are irrefutable as far as I know. Like most current PLNI shareholders I am locked in at a basis far above the current PPS and more or less faced with accepting a large loss or being patient and hoping for the best.
One thing that puzzles me about PLNI and which you might be able to answer is why they can't put out a simple P&L statement for the benefit of the shareholders to let us know how well, or poorly, they are doing.
I hold another stock called IBCX and they put one out monthly event though they are still a pinkie and also in the process of growth and acquisition. I might add that they were able to complete a reverse split recently without causing any loss of equity to the shareholders which is highly unusual for a pinkie and which I attribute in some measure to their financial openness.
What do you think PLNI might be able to do in the short run?
No Real Surprises, Except One
The 4Q and year ending reports really didn't contain any surprises as I expected GTE to incur a lot of development costs and one-time expenses that would accrue to the bottom line. In reality we actually improved on the 2004 performance if you back those items out of the picture.
For the first time since Doc Hinton's retirement we now have a COB who is actively engaged in the management of the company and who will act as our spokesman to the world. In this case he is also a highly respected international business leader with impeccable credentials. Try as he might Tim Huff never really handled that chore very well. He is now free to do what he does best which is to lead the company into the areas of technology where it needs to go.
We have 6 weeks until the 1Q comes out and I think that will contain pleasant surprises for all of us. In the meantime we might all be presented with a buying opportunity on GTE shares at bargain prices.
JMO.
Bob
That sounds very much like inside information. It could only have come from someone in real authority at PLNI, not crazy Rodney. Without betraying your source are there any other significant facts we should know?
Here's A Suggestion:
Everyone talks about the audit and other items that perhaps PLNI is prohibited from discussing at this point. So lets give them the benefit of the doubt and ask for a few simple items that normally fall under the heading of DD. Lets also use a fair comparison. GTE, in which I'm invested just recently went from the OTCBB to AMEX as a fully reporting company which PLNI claims to aspire.Check them at: http://finance.yahoo.com/q/pr?s=gte.
You will find a business summary, #of employees, Corporate governance, Key executives and salaries, and under "More on GTE" you will find 25 separate items of information.
Now go to http://finance.yahoo.com/q?s=plni.pk and see what you find. Other than Turek there are no other officers listed. 22 of the 25 addtional information are greyed out. There are no reports available on this company which claims to be 17 years old, not even good old D&B which just did a report on the apartment complex that I manage.
OK. Check it out and if you know of any place we can find DD let me know. Also, call Rodney or Boyd or whomever and see if they can provide you with the same basic info readily available from Yahoo. Then post the results here.
DTL - I think we've been over this ground before and I hate to keep bringing it up because it makes me feel a little silly but I can't even find out who the company officers are. I've checked most of the major sources of DD that I've used in the past and I can't find anything. I'd like to see what you've found if you don't mind sharing it with us. Like many of the others I am frustrated and angry because in all the hubbub last summer and fall I assumed, somewhat foolishly, that an audit was immediately forthcoming and all this was to be revealed in a matter of days. Now, like hundreds of other investors, I'm sitting here with a major block of shares that are worth far less than I paid for them with no information forthcoming. I'm not going to rehash the whole subject because I think that you've allready gotten my point.
Hey Chuck - Why don't you learn how to read. My post in January was to PLNI shareholders who were complaining about the naked shorting that was going on at the time. I suggested that they complain to the SEC, as I did, since I oppose the naked shorting of OTCBB and Pink Sheet stocks.
If I think I need your advice on when to buy or sell I'll let you know. In the meantime you sound like one of these jerks over on RB that twist what people say when they don't know how to respond. You really should go back to RB where you would fit right in.
To others who might read this add I have expressed dissatisfaction over the recent conduct of PLNI management and as a shareholder with a significant position I will continue to express my feelings on whatever issue I please in spite of birdbrains like Chuckie.
PLNI hasn't put out enough info to satisfy the frigging PINK SHEETS!! That's a little like flunking kindergarten. You guys got to get your wits about you and stop arguing among yourselves and letting these ringers scare you with empty threats. Mr. Turek and others have to get the message that we're out here and we're not ready to be sheared like a lot of willing sheep. Otherwise the next PR you read won't be promising an audit, it will be announcing a REVERSE SPLIT. Wise up!!It's your money I'm talking about.
It's Good To See People Discussing Issues
Basically all I've been trying to do for the last several days is get some discussion going on these boards on the issues facing this company and us as investors. After all, what exactly is PLNI? It's a company that makes plastic rebar supports, road signs and now has the capacity to also produce several different kinds of floor coatings. This isn't high speed computers or rocket science, just a mundane little company trying to survive.
It sounds like they now have the capacity to start making money in the not too distant future which means that we should expect some increase in the stock price to reward our patience. The only fly in the ointment at present is the "appearance of impropriety" in the most sensitive area affecting any stock, it's financial integrity. I'm hopeful that that's all that it is, an "appearance".
In the meantime, all the bashing or hyping in the world isn't going to change anything. We need as much information as we can attain and the managment as PLNI has to know that we are out here and that we are watching very closely. Myself and several friends have a significant investment in this company and we are not going to go away quietly if our confidence is betrayed. That's something everyone should be communicating to PLNI management at this point.