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Any update on the 10-ksb?eom
Am I correct in assuming that a price decline of 25% on a 243 Million share day would indicate that someone dumped a massive position or several people did. Could it also be that the continuing failure of PLNI management to come up with financial information might have something to do with it.
What is the significance of this new market maker?
According to EDGAR the last filing was on 4-2 that they were going to file late.
Yahoo also shows that a filing was made today at 9:04AM(Eastern?) When I checked it all I found was a balance sheet thru Sept. 06 and annuals thru 12-05.
Any change for 10-KSB at the close?eom
My mistake. Anyway do you have an update on when we might see something?
I believe that the 10-ksb has to be an audited report whereas the 8-k's do not necessarily need to be audited. In any event PLNI has been late in the past so it doesn't surprise me that they are late now. The only puzzle in this is that Mendoza & Berger, our auditors, are now BOD members which should help to facilitate things. I personally have given up on calling Big Apple but those of you who are expressing concern might try contacting them. You might get lucky.
Interesting Numbers on Scottrade
They show PLNI with 6.0 billion outstanding shares. They also show the volatility at 353% which is quite a bit higher than most companies. They also show the highest share price as .054 back in 2006, which could be an error.
A Few Questions About the MM's
As I look through the list below I wonder about some of the names I am seeing. Some of them are major financial institutions and I wonder what they are doing trading a pink sheet stock. I was under the impression that the "majors" were prohibited from playing on the OTCBB and the Pinks. Also I think it's very curious how we've been bouncing back and forth between .0004 and .0005 for most of the past year. Stocks, even pinkies, just don't work that way. Any opinions. JMO.
February 2007 January 2007 Year-to-Date
Volume Rank % Volume Rank % Volume Rank %
--------------------------------------------------------------------------------
Total Share Volume 2,415,131,815
--------------------------------------------------------------------------------
AUTO
AUTOMATED TRADING DESK FINANCIAL SERVICES, LLC 121,705,500 6 5 79,489,900 5 3 201,195,400 6 4
DOMS
DOMESTIC SECURITIES, INC. 13,997,900 11 <1 6,500,000 12 <1 20,497,900 11 <1
ETRD
E*TRADE CAPITAL MARKETS LLC 203,784,394 5 8 254,836,692 3 10 458,621,086 5 9
FRAN
WM. V. FRANKEL & CO., INCORPORATED 10,000 17 <1 5,710,400 13 <1 5,720,400 15 <1
FRWY
PINNACLE CAPITAL MARKETS, LLC 60,000,000 7 2 - - - 60,000,000 7 1
HDSN
HUDSON SECURITIES,INC. 660,052,074 1 27 15,120,700 7 <1 675,172,774 3 13
JEFF
JEFFERIES & COMPANY, INC. 1,338,300 16 <1 407,900 16 <1 1,746,200 17 <1
LAMP
LAMPOST CAPITAL, L.C. 16,000,000 10 <1 - - - 16,000,000 13 <1
NITE
KNIGHT EQUITY MARKETS, L.P. 543,966,720 2 22 311,162,132 2 12 855,128,852 2 17
QUIN
PARK FINANCIAL GROUP, INC. 448,467,704 3 18 1,466,942,855 1 60 1,915,410,559 1 39
SALI
STERNE, AGEE & LEACH, INC. 27,399,000 8 1 12,390,000 9 <1 39,789,000 8 <1
SBSH
CITIGROUP GLOBAL MARKETS INC. 13,670,033 12 <1 20,053,965 6 <1 33,723,998 9 <1
SSGI
SETON SECURITIES GROUP, INC. 7,416,700 13 <1 7,440,000 11 <1 14,856,700 14 <1
UBSS
UBS Securities LLC (UBSS) 267,209,490 4 11 204,352,250 4 8 471,561,740 4 9
VERT
THE VERTICAL GROUP 21,212,000 9 <1 8,925,000 10 <1 30,137,000 10 <1
VFIN
VFINANCE INVESTMENTS, INC 2,000,000 15 <1 - - - 2,000,000 16 <1
VNDM
VANDHAM
I would assume you are referring to the 10-KSB. Is this an opinion or do you have some definite information?
Well, since we've resolved the payroll problem we can now look forward to the good news that will be contained in the 10-KSB that will be coming out this week. Any predictions?
I hate to bring this up since we all know how inaccurate most of the claims are that are made on RB but I have been noticing comments over there that PLNI has failed to meet the ProMold payroll. Is there any truth to this or is it just another pile of RB BS?
I believe that the 1Q has to be filed by May 15th.
April 15th is a sunday so PLNI should have until the 18th to release the 10-KSB without being considered late. The year ending figures should bear out what JT has been telling us and if so there is no real reason why this stock should continue to languish in the triple zero range. Interestingly, some companies have chosen to trade on the pink sheets rather than face the costs and complications imposed by SOX. We need to keep reporting at least long enough to get uplisted to either the OTCBB or AMEX.
Any updated financials in our future. I seem to remember a posting last week promising updated financials by friday.
At least now we don't have to worry about an ill-advised AMEX application. Good luck with the 10-K Jim. Now that we have Mendoza & Berger on our BOD it should get done very quickly.
How can it be that 58M shares have changed hands without any change in the price. It would seem to me that if these were sellers the price would be dropping and if these are buyers then there would definitely rise based on this enormous demand. I'm hoping that it's a secret buyback on the part of JT but I think it's illegal to do that without first informing the stockholders.
DoubleE - First of all you are wasting your time trying to dialog with brainless types like shorts. I have him on iggy. I also look on PLNI as one of the elites among the pinks and I look for a breakout this year. I don't know that the company could start a buyback secretly and announce it later but I hope that is what is going on. JT retired 200M shares in 2005 and it caused a major runup, at least until he started the acquistions and had to sell shares to complete them. If he were to retire 200 to 500M shares now, even with the large float I think it would have a huge effect on the S/P.
Ric - JSL doesn't buy your buyback plan for PLNI. He doesn't think any domestic bank would take a flyer on a company with as weak a financial statement as PLNI. He asked if you knew of any company(or bank)that participated in such a plan. He's kind of pre-occupied with the NCAA finals right now but he promised to get back to me on monday with more details.
Ric - I read your post regarding how PLNI could finance a buyback and it brought to mind 2 questions: First, does Jim Turek or his advisors possess this knowledge and, second, would either PLNI or Turek qualify for this level of credit. There is an ugly story going around that JT just appointed a board member with a record as a sex offender. Is that true or simply more RB nonsense?
As far as repetitious posts are concerned I don't want to violate the TOU but when I look at most of what gets posted lately I have to ask what is being done to clean up the board and eliminate the drivel that is getting posted here. I don't know why IHub is allowing multiple aliases for example. JMO.
ANY RESULTS YET?
I sent a letter to JT this morning and so far I haven't received any response. I suggested that others do the same and even use my letter if they so desired.
So far all I see are the usual empty postings on this board and no real mention of what anyone else is doing to protect their investment or mine.
You can check out my letter if you wish. It's post 25579.
Good luck.
TEXT OF LETTER TO JIM TUREK
Dear Mr. Turek,
I am addressing this letter directly to you regarding your stated ambition to have Plasticon International uplisted to the American Stock Exchange.
Putting all other issues aside we both know that the AMEX will never accept Plasticon unless and until the company completes a reverse split to reduce its massive float. Other companies with which I am familiar have made this same ill-advised move with disastrous results for their shareholders and I have no reason to believe that Plasticon's fate would be any different. Likewise, AMEX is quick to delist companies it feels are not performing up to standards.
Your original plan to have Plasticon uplisted to the OTCBB seems a far more prudent and beneficial action at this point.
I am sending this letter directly to you and advising other interested stockholders to do the same. I am not advocating that they call you or anyone else as I feel this would be an unwarranted interference in your business operations, however, I'd like to point out that it is an equal waste of our time trying to obtain any useful information from Big Apple consulting.
Looking forward to continuing progress, I remain,
Sincerely yours,
(Signature)
I sent this letter to JT through the "Contact" section of the website. You can fax them a letter at (859)245-5105 or mail them a letter at the address listed on the website. Feel free to use my letter if you don't want to write on of your own.
PLEASE DO NOT CALL THE COMPANY. This is a pointless intrusion and a waste of their time. I wouldn't blame JT if he got angry about it. Faxes and emails will get the job done. If you do write your own letter, PLEASE DON'T MAKE THREATS. Say what's on your mind and let it go at that. TIA
NOW IS THE TIME
Those persons holding major positions in PLNI need to contact Mr. Turek and the other company officers to express their reservations regarding this ill-advised and premature attempt to be listed on the American Stock Exchange. Without addressing any other issues I can state categorically that the AMEX will never accept a Pink Sheet stock with a 6 Billion share float and we all know what the cure is for that problem.
There are a variety of other issues that could be discussed but I think we should concentrate on letting Mr. Turek know that we do not wish to see what little equity we have evaporate as a result of this pipe dream.
We seem to be having a bad day. I suppose 2 days in a row of intelligent dialog was too much to hope for.
I admit that this deal sounds a lot like a mouse trying to swallow an elephant but then stranger things have happened in the world of finance. JT would have to be crazy to indulge in a further share dilution and I'm sure he understands that it would kill any hope of getting listed on AMEX. If he is planning a buyback to reduce the float what would be a better time than now with the S/P standing at .0003/4 most of the time. I still haven't heard what, if any, results are coming out of the shareholder meeting and I think that we all have a definite right to know. In the meantime I'm still holding on.
Ric - I think the board looked pretty good today compared to the recent past. We've had a few new posters show up mysteriously but that's OK as long as they play by the rules.
Ric - In many ways it certainly appears that JT is trying to live up to his word and get this company headed in the right direction. If he continues and delivers on the promised buyback then I think we will all be better off for having hung in. The AMEX thing is still something I'm having trouble getting my mind around but then I don't know everything he knows.
Cramer played in the big leagues. The MM's who play games with PLNI stock and other pinkies are a bunch of nickel&dime bandits working for chump change by comparison. It's one of the anomalies and frustrations of being invested in this area in the first place.
Ric - The AMEX is the smallest and least important of the exchanges but it still is the big leagues compared to OTCBB or the Pink Sheets. I don't believe that we are ready for the move at this time but I do believe that if JT lives up to his word and brings our reporting up to date and keeps it timely and delivers on the buyback he promised then it would make sense. Right now I think we would get murdered, especially if like GTE he resorts to an R/S which will do nothing more than destroy all of our equity. Since he holds an enormous block of shares I'm assuming he's smart enough not to do this just to obtain the AMEX listing.
Any stock listed on AMEX can be shorted by investors and GTE was massively shorted during its brief stay on AMEX. Naked shorting as is done on the pinkies by the MM's is not done as far as I know. It's small consolation, however, since the bear raiders you encounter on the major boards are far more merciless than the MM's on the pinks and OTCBB who are simply trying to play games with the bid and ask to make a few bucks. This is why I was saying that we need to go to the OTCBB before we try moving up to AMEX. Once we're reporting regularly and, hopefully, showing some black ink on the bottom line we might be able to avoid being a target for the predators.
Since you allready used the feared term I'll comment on it also. It's very simple, AMEX will NEVER allow PLNI to be listed with a float of over 6 Billion shares. They forced GTE to do a 15 to 1 split when GTE was listed with them and their float was only slightly over 1 Billion. Also, AMEX is quick to de-list smaller companies that don't observe stringent rules governing PR's and other reporting which caused GTE to be delisted and sent back to the pinks at a significant loss to me and the other shareholders.
We need to get listed on the OTCBB in the short term until we are reporting regularly and, eventually, showing a real profit. I think, if nothing else, that the interested shareholders on this board should communicate that to JT and I will be happy to lend my name to any effort to do so.
Ric - I agree that we should solicit opinions from interested board members who are shareholders but as we both know things have been very strange on this board lately. I wrote to Jim and I hope to hear from him since he allways has good insights to offer. There are several issues involved in a move to the AMEX(which I don't favor) and I'm sure they will evoke spirited discussion.
Ric - I like to get together with you and JSL over these recent developements through emails since it would create needless controversy on this board. I'm going to send JSL another email today and I would hope you do the same. I don't have private post privileges on this board and the way things are going lately I don't think it would be worthwhile paying to post here.
Ric - What is going on with PLNI as regards the friday stockholder meeting. How long is it going to take them to put out some information. I'm also finding it hard to believe that not one member of this board was there and could fill us in. All I can say is I hope the delay is being caused by some momentus announcement.
Ric - I sent Matt a message about the current conditions on the board and I have not received any response. Perhaps you or Chopper might have better luck.
We all know about the OTCBB problem PLNI had and why they had it. Current behavior by PLNI indicates to me that they could easily qualify to be uplisted to OTCBB at this time if they wish. As I've pointed out before, most of the stocks listed on the OTCBB are not much different than those on the pinkies and have triple Zero prices as we currently do. Barring a major development I can't see how PLNI could get listed on AMEX even with an R/S(please excuse me for mentioning that hated term again). AMEX is no big deal. Also, as long as we are on the pinkies we don't have to report at all which has certain advantages. For example, they are talking seriously about amending Sarbannes-Oxley to make it simpler and cheaper for small companies to report regularly and that could be very much to our advantage. Just a thought.
Did Turek state why he is bypassing the OTCBB to go straight to the AMEX? It's unusual for a pinkie to make this kind of move unless they have a merger or some other momentus developement on the horizon. I went through this AMEX fixation with a stock called GTE and they ended up being delisted by AMEX after going through the required R/S and meeting all the other requirements.They are now back on the pinksheets. The AMEX is not comparable to NYSE or NASDAQ and is not really any more highly regarded than the OTCBB so I don't understand JT's thinking. Maybe someone out there who attended the stockholder meeting can fill us in on this point.
Scam companies don't hold stockholder meetings or apply for admission to the AMEX exchange. Very few pink sheet companies survive this long or resist the attacks this one has. Get your facts straight before you make allegations.
Don't get too happy over this developement. AMEX is going to demand a reverse split. They do that with all the pinkies and BB stocks that apply and have bloated floats as PLNI does. This is not good news for shareholders holding a company with no real growth or earnings. I hope they reject the application before JT gets crazy. JMO.