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Because there's not enough crazy people to buy this thing after they seen what Turek has done to it.
bearclaw51.. You've never answered the question either. I can only assume that you have no answer.
widowson.. Instead of launching a personal attack, do you have a response to my question?
Seems that longs can NEVER answer this question.
I expect audited financials by Friday, don't you? Since any such offer would have tried to take advantage of the tax year past, I suspect whatever action took place, did so in the last quarter of 2006, prior to 31 December 2006, and will be reported in the 10-KSB.
No, I don't expect audited financials this week. Could be wrong, but I will honestly be surprised.
As well, You need to get your facts in order.
Per recent 10-QSB:
"In January 2007, the Company was presented an offer from PCI and LexReal, the holders of $7,129,299 in subscribed common stock, to convert those subscribed shares at $.00011 per share at their discretion. The corporate attorney for this purpose issued an opinion letter supporting the transaction. "
The offer was made in January 07 so it won't be reported in the 10-KSB (Perhaps planned that way so the new share count wouldn't be avaliable to investors until the end of June?)
Do you have any reason to expect clarification this week?
rrm_bcnu.. Any clarification to your formal request?
Stoked,
We know that the subscription prices are based on fair value accounting. We also know that the prices would not be below the par value because the buyer would assume the liability of the difference between par and a sub-par offer. So lets take worst case. $7.13M dollars worth of shares at .001 (par) That is 7.13B shares MAX. At the new offer price it is $784,300.00 owed to PCI/Lexreal, and a reduction in debt of $6,345,700.00 in the balance sheet! Worst case! That would be 1,960,750,000 shares issued at .0004 to pay the $784,300.00 debt. Not 64.81B shares! There is a formal request for clarification on the way to Plasticon.
Thank you.
Very Bearish on this stock.. May be buying JCG Puts on June or Sept 40's.
Welcome to the OIIM board.
brikk.. I may buy shares for the hurricane play.. and it may be very shortly.
Not many.. I have a large position in something I really like right now but that's had a nice run over the past month, going to take out a small percentage of that and stake it in here.
Royal.. How does PLNI plan to pay for their operations losses for the 4th Q 2006? How about for the rest of 2007?
New shares is the answer. The stock is going anywhere but down with billions of shares banging the market every quarter.
Starboy.. I don't invest in PLNI. LOL.. no intention to either.. That company is even in worse shape than this one.
CTUM does have something for the future unlike them.
I think it's just speculative to keep going on a $35m market cap stock with no revenue and a nearly $7m balance sheet deficit. It had a nice run on the growth promise, but to take a new position now? It's a high risk gamble at these prices.
Congratulations on your run up to this point however.
gerlac68.. You mean Big Apple Consulting right? the company that has 1 year old data on shares outstanding information and puffs it out as if its current?
BWAHAHAHAHAHAHAHAHAHA
RoyalShmily. It's up to Turek to grow this company and make it profitable. So far he's failed miserably to the tune of $120+ million dollars in losses over the past 3 years.. Almost all funded by new shares to the market. There's just no sign the pattern is going to stop.
lowman.. so you, supposed Ihub ringleader of this stock, don't have anything intelligent to say about this company?
Okay, understood.
Thanks, eom.
never seen so much babbling for a stock that hasn't moved a smidge in over a month.
Longs are getting hopeful, based on their track record to date, it probably means .0002x.0003 is around the corner.
stsamlouis.. It's already gone up is my point. I don't pay those prices, especially for a company with a rotten balance sheet and the real possibility of many new shares hitting the market.
Jagman.. Your post was the first of the responses to me that had completed sentences and actual information.
Your assessment appears to be accurate. The shares issuance seem to be an absolutely certainty. Riding this "they haven't done it yet" is pretty naive and silly and not really understanding of what's required to launch a business.
Even if the tissue welding is approved here by the FDA.. Are there insurance companies who will cover for this unnecessary, elective procedure that will likely be much more costly than the alternatives.
Very sketchy. It appears it's had a good run on penny stock hype. But as you said. Any hint of bad news will send this stock sailing back into the Jefferson, Roosevelt, Washington area. (Nickle, Dime, Quarter for those who actually invested in this stock, :-P).
PatD.. LOL You hold PLNI? Well that says all I need to know about you, and probably all I need to know about CTUM.. LOL.
Good luck man.. lmao.
PatD.. i asked for some intelligent responses to my criticism. I see I couldn't get any. Longs without answers to legitimate questions? Standard for penny stock message boards.
Good luck though.
Good luck with your investment TheDane. There is a potential of high reward with this stock at the end of the rainbow. But there's always a very high degree of risk that comes with that.
If it pays off for you guys, you should do well. Just not my cup of tea that's all. I look for more value in my investments rather than stocks that have shot up 200% in 4 months. I'm just not in the business of chasing growth stocks with rotten balance sheets.
Good luck to you guys though, Hope you all do well.
realfast95.. Well golly.. I guess if I'm the only one on the planet worried about 28 million shares being added to the O/S, I must have no idea what I'm talking about.. :-/.
Looks like standard OTC BB/Pink Sheet message board chatter. I bring up the negative issues and not a single long can come up with a coherent response.
Wowee. Is this the par level of intelligence on this forum? Yikes.
Sir, If you have nothing of value to contibute to the conversation, please, keep your thoughts to yourself.
lowman.. yea something stinks about the financing surrounding this company. Major red flags all around.
I'll pass, but good luck
Sigh.. Another concern.
In connection with the terms of the Agreement and Plan of Split Off and Merger, signed September 27, 2002, Tim Aduddell was granted an option to purchase 30 million shares of common stock for $0.04 per share. On June 7, 2006, 1,471,182 of these options were exercised, and the underlying shares were redeemed in payment of debt, leaving 28,528,818 options outstanding
Aduddell holds 28m+ in options? Not looking as good as it did a few hours ago as I begun by DD. Might still play it to see if I can grab a 30-50% hurricane pop.. Probably more % gain than that in there but I'm not going to risk it seeing management hold more than 50% of the current O/S (52m) in options is very troublesome. They're going to need a natural disaster to turn income and another year without hurricanes (certaintly possible) might put a major cramp on this comapny.
Still might give it that hurricane shot though, not as high on it however. Management seems to be looking out for #1 first and shareholders second.
Only one concern..
They seem to be nearly maxed out on their revolving line of credit of $10 million. At $9.4 million as of Dec 2006. And I saw other post delaying acquisition of the New York companies. Seems to be a cash flow problem involving their line of credit. I just hope the company can find financing somewhere outside of issuing new shares on the market.
Minor hitch.. maybe some longs have some insight on this for me.
Other than that, and maybe the very tight margins outside of the natural disaster work, I am liking what I see so far.
Scanned a dozen stocks this morning and stumble upon this one.
Definently the most promising of the bunch.. still in the middle of my DD right now, but I might be taking a position in this very soon. Just saying hello to you guys.
New to the board, did some DD on this stock tonight.
Looks sketchy. One technology in which there's no guarantee they'll be widespread acceptance of (and still needing FDA approval which looks years away yet) and another technology with lots of competition. (They claim to have an edge there but I've heard that before with pennies).
No revenues, $6.3m in losses the last 2 years.. Net Tangible Asset deficit climbed back to $6.75m this past quarter. More shares seem necessary in the pipeline to fund this thing until they get some revenue.
I'll check back when this thing has an O/S count of 50-60 million and is trading around $0.25.
Just stating my opinion. I'm sure you guys have counter-arguments ready to fire against me. Please reply if you can do it without going into juvenile tirades.
Thanks.
rrm.. considering that PLNI had nonexistant revenue before acquiring those companies.
Turek and the accounting firm should of reported revenue from each of its companies segment
No, I'm not saying they were smart business. They added revenue but not enough to issue billions of shares.
This stock is trading at .0003 because of Turek couldn't sell Plasticon to anyone and issued billions of shares to bring in outside companies.
It's a pretty accurate assumption when you consider that Plasticon's main business line is getting crushed in revenue by the corporations that were already operating that Turek purchased (Semco, Promold).
shortsinthesand.. Unfortunantly for shareholders, his website indicates that he appears to care more about issuing shares than actually selling his products.
Drawing my attention..
4th quarter revenues ending Dec 06 were at $1027k. This business appears to be seasonal so comparing it to Dec 05 of $578k.. 77% gain in revenue from Dec 05 to Dec 06.
1Q 2005 Revenue: 690k
2Q 2005 Revenue: 856k
3Q 2005 Revenue: 810k
4Q 2005 Revenue: 578k
1Q 2006 Revenue: 702k
2Q 2006 Revenue: 1374k
3Q 2006 Revenue: 1098k
4Q 2006 Revenue: 1027k
Amazing that 4Q did so well when its traditionally the companies worst quarter. May see something like this for 2007 perhaps?
1Q 2007 Revenue: 1200k
2Q 2007 Revenue: 1700k
3Q 2007 Revenue: 1500k
4Q 2007 Revenue: 1300k
Just a thought on where the trend in revenue is going, I'm going to look closely into some of these deals they have with this yacht manufacturers.
Balance sheet improving quarter by quarter.
Might take a position in this stock, but not yet. If I see a pullback under .035, I may take a position.
I think there's some promise here.
IndyD.. What you call "bashing" is actually people posting factual information about this company.
eyeamgame.. Incorrect.. PLNI current status is nowhere close to qualifying for AMEX. Just stating the facts thats all.
Eyeing up this company.
They look interesting. I'll keep tabs. If a pullback happens, I'll probably be jumping in.
trub.. I have no doubt many of you are good folks with good intentions. Unfortunantly for all of you, none of you have any voting power in this company. Turek holds all the cards and he plays any tune he wishes with you. So far he's been lining his pockets with money from investors.
Yea. Buffett's such a moron. He's only one of the richest men in the world. He's only the greatest investor of all time.
Since 1990, Berkshire Hathaway is only up around 1500%.. Dow Jones Industrial Average? around 450%.
Considering 90% of mutual funds cannot beat the index, I'd say that's pretty impressive.
USG is at levels where Buffett accumulates. I rode USG the last time when I bought becuase of Buffett, I plan on moving some money there after my ETIM pays off. USG will be trading at 80-100 within the next 18-24 months.
How's PLNI doing today? How's the gimmick caskets doing?
You there bearclaw? You disappeared.
What was the previous stock you were talking about in the post.
Last stock I followed that had a substantial squeeze the posting activity resembled what's happening here the past few days. In that stock it ran when this panic type of activity appeared.
bearclaw51.. What stock was that you are referring to?