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KG - You've asked the same question about 15 times but I'll try to answer. Yes, temporarily, I am still long, stuck at a significant loss if I sold today. I was prepared to wait and see if PLNI was going to live up to its promises until I started seeing signs that something was afoot and I took the only action I felt I could take which was to warn other longs as well as to try and pass along a warning to PLNI itself with the help of other longs. Jim Turek is too old to go to jail and it might be a deterent to him and others if he knows there is an angry mob out there ready put him in striped pajamas. Most of the R/S scam operators have gotten away clean simply because they had everyone bamboozled up to and including the moment they put it to them. Even if they are having financial problems they can find a better way than an R/S to deal with them. Nevertheless, I am going to take your advice and take my loss but I thought there was no harm in trying. Maybe they could put out a PR in the next few days to let us in on how things are going. This long silence has been the most ominous sign of all. JMO.
DTL - I'm not really going to argue with you since you at least present your position in a rational manner. I am making these posts because I am seeing signs of mis-information and panic of the type that usually precedes an RS following the type of P&D runup we had last year. Additionally, I looked at that Thompson website and I don't know what they consider an institutional investor but I do know that institutions do not buy Pink Sheet penny stocks and it's another absurdity being promoted on these message boards. Another thing to remember is that the price is being maintained to prevent panic selling but is being done so at VERY LOW VOLUME, probably by MM's simply exchanging shares with one another. I hope I'm wrong because, unlike I've been accused here, I still hold a major position as do some of my friends and I don't want to see them get hurt either.
Additionally, there are allready lawsuits being filed and others initiating action in this matter and there soon will be no place to hide for these characters. They will have to act fairly soon and disappear or the whole thing will have been for nothing.
Actually the board moderator is supposed to eliminate the type of posting you are seeing here but I hope he leaves it so you can see the type of panic reaction we're getting from the P&D gang.
and Wynn, baby, go back to RB where you belong!
Wynn - You seem like another one of these loud mouth cheerleaders who like to make accusations. I have a lot more shares than you do if it was any of your business. Have a nice day.
I've tried warning everyone on this board and others about the type of operation that is going on here but few, if any, will listen. Those of us who bought in on the big runup back in August and September of last year are now locked in at .006 and either have to sell back to the MM's at a loss or sit tight and hope for another runup to get out. The reality is that the next thing on the agenda most likely is a reverse split where the stock will rise in value momentarily and then sink back to the .006 level leaving most of us robbed of our equity. If you look back on the string of broken promises made by this company you can't help but come to this conclusion. All this recent silence from PLNI only underscores this.
The only real defense we have is that we are not going to go away quietly with our tails between our legs if and when they try to pull this off. If the Enron executives can end up in jail so can Turek and company and it will be a much simpler prosecution for the SEC to handle.
THE TIME TO SPEAK UP IN NOW!!!
THE UPCOMING BETRAYAL
A lot of people, myself included, bought into the PLNI runup last August and September
based on what appeared to be a real company in the process of growing and expanding by making a series of prudent acquisitions. In all the hubbub and excitement most of us, again myself included, chose to overlook the fact that this was a pink sheet company which hadn’t filed financials any time within memory and on which little or no real information existed.
What we had bought into was one of the cleverest pump and dump operations to come along since the big crash back in 2000. I guess it’s been long enough for many of us to forget the debacles of the “irrational exhuberance” era. It’s always tempting to believe that some penny stock operator with a lot of promises is going to make us rich.
After the runup to approximately .02 per share the stock was allowed to drift down to its current level of .005 to.006 where the market makers are maintaining a steady price level which they can easily afford to do since most of them probably stocked up for the P&D run when this thing was still selling at .0001 and most likely they made a ton of money on the runup as did PLNI company officials. It could be, and this is my hope and the only hope for those of us who bought in on the August/September runup, that this group might just be greedy and stupid enough to go back to the well one more time. After all they’ve been promising audited financials since December of 2004 without delivering and yet there are those who still believe and argue on their behalf. Oh, and please don’t bring up the acquisitions as the reason for the delay, they didn’t acquire Pro-Mold and Semco until late in 2005. They could have bought out General Motors and the audit would not have taken this long.
What I am afraid is the next step in this P&D scenario is the usual device for stealing stockholder equity, a REVERSE SPLIT. Oh, not some little 5 to 1 or 10 to 1 split; a real big one, 80 or 100 to 1. Of course there will be the usual promises of stockholder bonuses and the like but the reality is that the stock will quickly sink back to .005/6 after a brief increase simply because the market has no reason to support a higher price. So if you bought 1,000,000 at .01 it cost you $10,000. After the split and price decline you now have 10,000 shares at .005, now worth $500. Someone pockets your $9500 and walks away laughing. Then, if you’re a real moron, you sell them your remaining 10,000 shares and they have it all. This reminds me of Lenny Bruce’s joke about lawyers.
This might sound like sour grapes or a lot of hand-wringing but the fact is I was one of PLNI’s biggest cheerleaders when it looked like they were going to deliver on their promises. The fact is that they’ve been given plenty of time and they not only haven’t delivered but they’ve gone back on things they promised they WOULDN’T do like diluting the float. This was a can’t lose proposition for them since they knew all along that they were going to do a reverse split and what the outcome would be. As I said previously this is the point where they walk away laughing with your money in their pockets.
So what to do? You certainly aren’t going to fly your lawyer to Lexington, Kentucky to file a lawsuit againt PLNI. There are 2 things they absolutely can’t stand to have happen. The first is adverse publicity. This would drive the price of the stock so low that an R/S would neither be feasible or profitable, or at least not as profitable as they hoped. Second, and don’t laugh, there are the regulatory agencies and people like Eliot Spitzer who delight in making examples of these types of manipulators. I’m the same age as Jim Turek and the idea of spending even 6 months in jail would fill me with terror. A longer sentence would be a death sentence. The SEC has been taking a well deserved pounding lately and maybe they would like to be taken seriously again by nailing a few people. AND, they have the power to take away all the ill-gotten gains.
If you’re in the same boat I’m in all I’m asking you to do is read this over a few times and give it due consideration. This battle is far from over and this war is far from lost.
I’m certain I’ll be attacked from all quarters but after the dust clears the facts about PLNI are there for all to see. Open you eyes and prepare to do something to protect yourself.
THE UPCOMING BETRAYAL
A lot of people, myself included, bought into the PLNI runup last August and September based on what appeared to be a real company in the process of growing and expanding by making a series of prudent acquisitions. In all the hubbub and excitement most of us, again myself included, chose to overlook the fact that this was a pink sheet company which hadn’t filed financials any time within memory and on which little or no real information existed.
What we had bought into was one of the cleverest pump and dump operations to come along since the big crash back in 2000. I guess it’s been long enough for many of us to forget the debacles of the “irrational exhuberance” era. It’s always tempting to believe that some penny stock operator with a lot of promises is going to make us rich.
After the runup to approximately .02 per share the stock was allowed to drift down to its current level of .005 to.006 where the market makers are maintaining a steady price level which they can easily afford to do since most of them probably stocked up for the P&D run when this thing was still selling at .0001 and most likely they made a ton of money on the runup as did PLNI company officials. It could be, and this is my hope and the only hope for those of us who bought in on the August/September runup, that this group might just be greedy and stupid enough to go back to the well one more time. After all they’ve been promising audited financials since December of 2004 without delivering and yet there are those who still believe and argue on their behalf. Oh, and please don’t bring up the acquisitions as the reason for the delay, they didn’t acquire Pro-Mold and Semco until late in 2005. They could have bought out General Motors and the audit would not have taken this long.
What I am afraid is the next step in this P&D scenario is the usual device for stealing stockholder equity, a REVERSE SPLIT. Oh, not some little 5 to 1 or 10 to 1 split; a real big one, 80 or 100 to 1. Of course there will be the usual promises of stockholder bonuses and the like but the reality is that the stock will quickly sink back to .005/6 after a brief increase simply because the market has no reason to support a higher price. So if you bought 1,000,000 at .01 it cost you $10,000. After the split and price decline you now have 10,000 shares at .005, now worth $500. Someone pockets your $9500 and walks away laughing. Then, if you’re a real moron, you sell them your remaining 10,000 shares and they have it all. This reminds me of Lenny Bruce’s joke about lawyers.
This might sound like sour grapes or a lot of hand-wringing but the fact is I was one of PLNI’s biggest cheerleaders when it looked like they were going to deliver on their promises. The fact is that they’ve been given plenty of time and they not only haven’t delivered but they’ve gone back on things they promised they WOULDN’T do like diluting the float. This was a can’t lose proposition for them since they knew all along that they were going to do a reverse split and what the outcome would be. As I said previously this is the point where they walk away laughing with your money in their pockets.
So what to do? You certainly aren’t going to fly your lawyer to Lexington, Kentucky to file a lawsuit againt PLNI. There are 2 things they absolutely can’t stand to have happen. The first is adverse publicity. This would drive the price of the stock so low that an R/S would neither be feasible or profitable, or at least not as profitable as they hoped. Second, and don’t laugh, there are the regulatory agencies and people like Eliot Spitzer who delight in making examples of these types of manipulators. I’m the same age as Jim Turek and the idea of spending even 6 months in jail would fill me with terror. A longer sentence would be a death sentence. The SEC has been taking a well deserved pounding lately and maybe they would like to be taken seriously again by nailing a few people. AND, they have the power to take away all the ill-gotten gains.
If you’re in the same boat I’m in all I’m asking you to do is read this over a few times and give it due consideration. This battle is far from over and this war is far from lost.
I’m certain I’ll be attacked from all quarters but after the dust clears the facts about PLNI are there for all to see. Open you eyes and prepare to do something to protect yourself.
The Hatchet Job Worked
Obviously GTE's S/P should be somewhere up over the $4 mark by now after the release of the Internafta news. Instead, a cleverly written article by a well known Wall Street hatchet man once again did it's work. It was cleverly crafted to look like an attack on the SEC when it real purpose was to save the butts of the shorts who bet the Internafta deal was going to crash in flames. Huff outflanked all of them but until we can show real results on the bottom line we remain vulnerable to this kind of manipulation. Ironically, Byron was complaining about the lack of SEC enforcement when the reality is that if the SEC was doing its job a lot of these hacks, including the bashers on this board would be wearing striped pajamas.
Answer - We Don't. Christopher Byron is a joke. His articles are a screwed up as his hair transplants which make him look like a rooster with a blonde comb. His article was attacking the SEC and he used GTE as an example of how powerless they really are. As usual his facts are wrong. He really should be writing for the Village Voice. Call them and have them send him an application.
Poker - Can you supply any details?
If there was an article in the NY Post why in the h*ll doesn't someone post it. I looked up the Monday edition and I couldn't find anything but maybe they don't report all their articles online. Also, is this the "Chicken Man" Christopher Byron attacking us again. He's about as credible as Willie Wonka. I had expected the stock to gap up today and, as usual, I was unpleasantly surprised and I'm just trying to find out what the frigging problem is.
Low - I read your rant over on the GTE board and I have to say that you were right on the money. I've been an ADGI/GTE long since 1999 but, like you, I am nearing the end of my patience. I have one simple question regarding this stock and that is what do you feel would be a top end price for GTE, that is if some of the hot air they've been putting out actually materialized and they made a few dollars. I want out but I don't want to give it away after all these years. When I see great companies like Motorola with real products and significant cash flows and profits languishing under $20 a share I have to ask what chance does a GTE ever have of making it to $10 or even $5 a share and in what time frame? Any advice greatly appreciated.
Remember Rodney's real job is parking cars at the "Eager Beaver" men's club.
Tomorrow's The Big Day
Hopefully Tim will announce the successful completion of the Russian deal after the market closes so that we can look forward to a huge gap up on Monday morning when all the shorts panic and have to cover.
The Russians have been lying for the last 89 years so why should they stop now? In case you hadn't noticed a former KGB agent is President of the country.
There's no perfect way to call someone a deadbeat. It sounds like these Russian "financiers" are working out of a phone booth in Red Square because none of them can afford a cell phone.
The Russians AREN'T Coming!!!
"All Hat, No Cattle" seems to be the English translation for Internafta from the Russian. All this bank "interference" sounds like someone is trying to skate through on OPM, possibly with no down. I used to sell cars that way but it's not a recommended method for equipping 30 cities with a wireless network. It's time for Huff to move on to the things that will make money for GTE and get away from this "pie in the sky" deal.
Weasel Words - The Deal Was Never Real - On either side.
In Simple English - The Russian Deal is Dead.
Audit, Schmaudit. What this company needs is to get in on the Katrina pork barrel spending that is going on right now. Once we get a few juicy contract announcements the audit or the lack of one will fade into history. Revenue and growth is what it's all about and PLNI has the potential for both. Then we can hire the most expensive auditors in the country and move up to the NAZ.
"Big Charts" no longer carries ICAN. I guess they didn't see
any point in charting a stock that fluctuates between .0001 and .0002.
This sounds like a mouse swallowing an elephant. Not being a professional financier I'm probably not able to appreciate the advantages of such an arrangement. In the meantime PLNI is still selling under a penny and unless Turek comes up with the audit and the restructuring soon we may see this stock go lower. TBLU just adds a complication to this situation as far as I'm concerned.
I seem to recall someone saying that PLNI was going to merge with TBLU and that we would all benefit from receiving TBLU shares in return for our PLNI shares. This is too much high finance for me so if anyone out their can explain how we stand to make out by merging with a company that is losing money I'd like to hear your ideas.
Shorts - You have such a reputation as a basher that I hesitate to respond to your posting, except that for a moment you sounded like you knew what you were talking about. If Turek has made a false claim about owning patents that, in fact, he does not own that is a serious charge that could even have criminal implications for him and financial disaster for the rest of us. I don't know why you choose to bash this particular stock since I don't usually follow your postings but I can say that if you are in possession of real information you better get it out ASAP because you're sticking your own neck in a noose if what you are saying isn't true.
Again, I don't bash stocks even when I lose money on them. I simply sell out, take my loss, and move on. If that's the case with you then I would advise you to do the same. Otherwise, I'm looking for proof of the charge you made against Turek.
Is The Check In The Mail? I seem to remember some talk about a check arriving from some distant place within 30 days.
Wynn - You seem very knowledgeable concerning PLNI's future contracts and I am just wondering what you base this on(without revealing any sources of course) As far as the audit is concerned it's been promised since last August and the unwillingnes or inability of JT to produce it speaks more about their fear of what it might reveal than what they stand to lose from not producing it. We've been throught the myriad of reasons for this situation on this board and others and it allways comes out the same, JT and the other insiders have more to gain by producing the audit than holding it back UNLESS the audit content could further damage their interests.
Any particular reason?
Seabiscuit - Like you and many others I am sitting here with a hatful of shares I bought last year, mainly during the runup caused by all the misguided excitement over acquisitions and a possibly move to the OTCBB or even NAZ. Like all of you I have to remain faithful because PLNI is selling below my basis and unless another runup happens I've been burned just like all of you and maybe worse.
If you go over to Bigcharts and bring up PLNI's chart you will see what amounts to a classic P&D operation. First a deadlined stock, then a sharp runup during a short period(Based on momentus potential developements) and then a gradual decline as the expected(and hoped for developements) don't happen despite a flurry of optimistic PR's which become less and less believable as time passes on. Does any of this sound familiar?
There are a variety of ways a company can steal the equity in our stock(which I won't go into here) but those of you out there holding millions of shares are believing in fairy tales if you think these guys are going to let you cash in on their operation and retire to Barbados or wherever you had in mind.
I hate to sound so pessimistic but most of these board are becoming surreal in their comments on this stock. My advice is that if you are anywhere near your basis, plus or minus a few percent now would be the time to get out. Turek has lost all credibility and he could appoint God to the board of directors and this baby is going nowhere. JMO
Actually now might be the perfect time for a reverse split. The usual problem with reverse splits is that the S/P goes up momentarily and then falls back to the old level thereby cheating the shareholders of any equity in the stock. In this case we really can't go any lower than .0001 so Ed could go ahead with a 20-1 RS and drop the float(based on 12B,not 32B shares) down to a reasonable level of 200 Million. That, along with the release of financials could possibly get us on the OTCBB and even show a modest gain in the share price.
Of course, all of this is just daydreaming on my part. I just thought I would float it out for everyones information and amusement.
600 Million is still a lot of money and I hope that sometime during this transfer process someone doesn't come up with a connection to the Russian Mafia. They're far more sophisticated than the Italian Mafia and they are making more money. They are also a lot smarter than most gangsters and something like this GTE deal might be just what they're looking for to legitimize a big chunk of their cash and maybe even part of their operation.
This is one time I hope my fears are unfounded but I've been following the new Russian "democracy" since its inception and it's getting scarier all the time.
The huge volume days we've had indicate that there is a real interest in this company. Very few pinkers are making money and expanding the way this company has done. If you're looking for a perfect company you'll never find one on the pink sheets and ICAN is no exception but they have the potential to clean up their act and make a significant move. In the meantime, accumulate at these low prices and wait.
Hey Jim, In spite of all the "good" news like the acquistions there are still things going on here that smell of stock manipulation as much as I hate to say that. I don't know if you watch Jim Cramer but I agree with his premise that any failure to report financially or accurately is the biggest red flag in stock investing. Another way stock promoters steal their investors equity is either to dilute the float with massive increases(such as the one we just had) or to do an ill-timed reverse split where the S/P simply sinks back to the lower level after a brief increase. JT has said he would not do a reverse split but then he also said he would have the financials out in January and that he would not dilute the float which he did without the simple courtesy of a PR explaining why. One of the reasons we may not be getting PR's lately is that the last barrage produced nothing and even caused some suspicions among the believing public. Right now JT is teetering on a credibility tighrope and the next false step will be his last and our ticket to .0001/share. JMO
Cramer did a whole show tonight on chain restaurants. Naturally, Sanibel wasn't one of them but, who knows, if this outfit keeps growing we're soon to attract some attention.
So Who Is The Stealth Candidate for Chairman? All guesses gratefully accepted.
No one is rooting for this company any more than I am. I've bet a bundle on Turek and I'd like to believe that, like me, he's been through the wars, (we both worked at Douglas Aircraft in the glory days of the defense industry)and he's as hopeful as I am that this will be the last battle and will end in victory. I'm somewhat perplexed by the recent behavior of this company but I'm still on board.
Down on low volume simply means that people are waiting for news.This type of decline will usually continue in fits and starts until something happens one way or another.
To Answer Post #20635
I made reference to a newspaper article in the Daily News concerning the launch of an airship by Lockheed. The article can be accessed at www.dailynews.com. I also expressed regret that we weren't the first to make the news out here in California on this general subject. For this I was referred to as being "ignorant". I think the board moderator needs to exercise some discretion as to who is being "ignorant" and whose posts should be deleted.
Lockheed Test Flight - The Business Section in Today's Los Angeles Daily News has a picture and an accompanying story on the first test flight of the Lockheed version of the Stratelite. Apparently, despite all our efforts Lockheed has beaten us to the punch, especially in the publicity area. I'm sure there will also be TV coverage of this event later in the day since the airship was plainly visible from a nearby highway. I was hopeful we would be the first to fly a UAV and get the attendant publicity value but I guess that is not to be.