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If anyone on this board intends to attend the shareholders meeting you might want to ask JT how he intends to finance his latest acquisition. While he's in the process of high finance I agree that he could borrow a mil or two and create more equity for his investors with a reasonable buyback. If you do get to ask these questions I would very much appreciate seeing his responses posted on this board. TIA.
Good work Ric. Thanks for the DD. I too am awaiting the 16th to see what JT has to say.
Ric - You're the DD guy here. Explain to me how PLNI can afford to buy a construction company in IDAHO that has 80,000,000 in revenues. Is this going to lead to another deletion? This also sounds like a mouse swallowing an elephant. Tell me I'm needlessly concerned.
Ric - Have you heard anything from JSL?
I didn't know that this board was for people who can read tea leaves and predict the future.
Ric - Waiting to hear from JSL regarding the latest financial information.
Ric - Heard from JSL. He's still basically upbeat on PLNI's prospects. I told him I wish JT would put him on the BOD.
Volume is way off today. Let's hope that the market rebound is sucking money out of the penny market and that this drop will be temporary. Otherwise we might be seeing a .0001 price level soon.
Ric - I notice that we are heading toward another 100 mil plus day and the price is holding firm at .0003. What I can't understand is why the price isn't moving. If shareholders were dumping it would fall and if others are buying it should create price pressure to make the S/P go up. I can't believe that volumes in excess of 100M shares only represents MM's trading shares back and forth with each other. I was daydreaming that PLNI management has a secret buyback program going and plan to announce it at the shareholder meeting.
SEC Happy Horse Manure
Those of you complaining about naked shorting please read the following. This is how Joe Kennedy set up the SEC so that the rich robber barons(like him) could get richer at our expense.
Naked short selling is not necessarily a violation of the federal securities laws or the Commission's rules. Indeed, in certain circumstances, naked short selling contributes to market liquidity. For example, broker-dealers that make a market in a security4 generally stand ready to buy and sell the security on a regular and continuous basis at a publicly quoted price, even when there are no other buyers or sellers. Thus, market makers must sell a security to a buyer even when there are temporary shortages of that security available in the market. This may occur, for example, if there is a sudden surge in buying interest in that security, or if few investors are selling the security at that time. Because it may take a market maker considerable time to purchase or arrange to borrow the security, a market maker engaged in bona fide market making, particularly in a fast-moving market, may need to sell the security short without having arranged to borrow shares. This is especially true for market makers in thinly traded, illiquid stocks such as securities quoted on the OTC Bulletin Board,5 as there may be few shares available to purchase or borrow at a given time.
Ric - I could be mistaken but I do believe that hedge funds and investment banking firms are prohibited from trading in pinkies, OTCBB stocks and penny stocks generally. I am also puzzled why the recent announcements totalling almost a million dollars in new business for SEMCO isn't doing anything for the S/P. The consistent high volume should have done something by now also. Even with PLNI's enormous float it seems that the entire O/S has changed hands over the last couple of months.
It's Time To Get On Board
Regardless of what JT and PLNI have done or not done in the past we are now getting some positive stirrings from this company and at least the possibility for growth in the S/P. Of course it's not going to come next week and probably won't show up until later this year or early next year from what I am hearing in JT's remarks.
A lot of people thought this was going to fund their retirement fund when they bought in 2 years ago and they've been whining ever since because it didn't happen. Anyone reading this board or RB would think PLNI had just filed for bankruptcy instead of having just completed major acquisitions and further elements of their business plan.
The truth is that PLNI's plans might not work and we might all get left holding the bag but, unlike other pinkies, this is still a real company with real products and a business plan that gives them a chance.
I say the smart thing is to get on board and support JT as long as he lives up to his current promises, or at least puts forth a sincere effort to do so.
There's a lot of money out there looking for a place to land but you can bet it won't land with us if all we do is discuss how bad PLNI is doing. The real fact is that most of the complainers don't know and haven't taken the time to find out.
Think it over.
Sounds like we're moving right along. Thanks for the info.
Ric - Do you have any more definite information on this new company we just acquired?
Isn't is interesting that after a week where hundreds of millions of shares were traded that this stock closed at .0002 based on a 100 share trade. Would anyone reading this board actually pay a $5 to $10 commission to a broker to make a trade totally less than 2 pennies? Somehow I feel like someone is scoffing at us and I'm coming into a mindset where I feel like I would like to do something about it. I wonder how many out there feel the same.
I don't think that a board moderator or assistant moderator should have anyone on ignore. Otherwise how can you deal with TOU violations.
I haven't sold a single share and I don't intend to. Like many of you my current situation with PLNI is painful and becoming more aggravating by the day. My comments are directed at dialog with other board members, not bashing or grousing.
There are plenty of stock investments around and anyone who plays the pink sheets should be prepared for any eventuality. It's a tough game and, as Harry Truman once said, "If you can't take the heat, get out of the kitchen."
One Additional Thing:
I've signed up for the teleconference on 2-15 and I recommend that the other longs do the same. On 1-30 I posted 8 questions that I have for management and I may have additional ones. The posting number is 21624 for those of you who might want to read them. By the way these questions were formulated by someone with more knowledge of cost accounting and management than me or most of the people I've seen posting on this board.
This is JT's last chance to come clean and live up to his past statements. I'm prepared to accept sincere explanations and honest future efforts to turn the company around and protect our interests as I am also prepared to take whatever action necessary to act if that turns out not to be the case.
I think we're finally starting to get some straight talk on this board. Like many of you I bought in at a higher price and I can't see any reason to be optimistic about PLNI at this point. I have no intention of selling and if worse comes to worse I won't sell until December 31st. PLNI won't be the first capital loss I've suffered on the Pink Sheets and it probably won't be the last but at least I will have the tax advantage of a write off against other profits. From now until December 31st I have no reason to sell since I can realize the write-off until next year anyway and I'll be damned if I'm going to make a donation to JT, the MM's, or whoever else has been behind this latest scenario.
For the benefit of others who are obviously also in over their heads there is a possibility that PLNI might make some type of recovery but I can't even speculate at this point how that might happen.
DTL - First, this is not a "Bulls" board. If you want to set up a bulls board on IHub it wouldn't be hard to do however, if you check the bulls board over on SI there are days when they only get 1 or 2 postings a day and usually from the same people. AvDave put forth some interesting possibilities about the current activity and did it in a manner which should inspire a certain amount of intelligent conversation. This is especially valuable in light of the fact that we have no real information coming from PLNI or its PR firm. Attacking people who ask questions or make comments that somehow don't fit with what you want to hear makes no sense. You stated that you were limited in deleting messages from basher but apparently you have no qualms about attacking longs whose questions you don't like. I suggest you do with me and AvDave what I've done with the real bashers and put us on ignore.
DTL - I'll tell you the same thing I've told a couple of other people on this board which is that I've been long in this stock for over 2 years and still hold a major position. I also was contributing to this board long before you ever showed up. I have a little trouble following your syntax but it doesn't matter anyway. I've made many phone calls and as for "DD" I am in touch with people who are capable of analyzing what little there is of it and I don't post it simply to avoid the type of reaction I just got from you. I have respect for Ric's opinions and as for arguing with people, well, that's a matter of opinion also.
In the meantime there are real bashers posting on this board and I have to wonder why they are tolerated. I think as an assistant board moderator you would direct more of your attention to them.
Is The Great "Dumpathon" over? It would appear so from this morning's volume. So far I haven't seen anything resembling an explanation as to why this happened and who was involved except for RRM's post which laid it at the doorsteps of the MM's whom he believes are playing games at our expense.
I think even the most committed longs have to admit that JT is dumping his position for what he can get for it preliminary to some sort of restructuring plan. A plan which will most likely leave all of us screwed. The only other possible explanation is that someone is buying up huge blocks of shares prior to an expected buyout, merger, or major announcement. The only problem with that is that buying pressure would be driving the S/P up, not down. Since both PLNI management and our IR/PR firm refuse to release any information we will just have to sit tight and wait for the inevitable.
Some Questions For PLNI Management
We might as well get an early start on what we will want to ask
at the upcoming shareholder teleconference.
Lets try a few of these for starters.
1. Number of shares issued and outstanding, including closely held and debt guarantees, and how soon any outstanding restricted stock can currently be traded.
2. How many shares of PLNI common will be outstanding at the end of 2006 and 2007?
3. Why aren't the monthly and quarterly statements that are prepared at PLNI released in a timely manner? A promise to release information no later than the second week following the end of any quarter should be made and kept.
4, Is PLNI going to authorize any more common or preferred stock?
5. Why has PLNI failed to keep any of its promises that have been made in the past conferences and why should we expect them to be any more forthright in this conference than they have been in the past? They have failed to keep any of their promises on time or even reasonably late. A really good question might be to ask them when they are going to quit lying about what they plan to do. This could include the buyback, the timely release of financials and the declaration of each additional issue of stock for any purpose.
6. We hear about their plastic signage and how it is approved by the DOT in all 50 states but we hear of no business from that area of the company. Why?
7. When is JT going to quit shoveling monies between PLNI and his other shells and quit confusing the financials with this kind of internal BS? It takes a lot of time and a fairly adept accountant to list out all of the close-party transactions and there really isn't enough info in the financials to tell you what is paying for what in these transactions (including the stock issues).
8. Why did JT transfer seven and a half billion shares to his shell company so he could sell stock without a filing? Is this the action of an honest entrepreneur? I have a lot of other questions about the muddy water in the Owners Equity section and the write-off of the deferred losses that would be good tax write offs if they expected a profit within the next seven years. Maybe this also tells us something. Lots of questions and no answers.
Personal thanks to Jim Stop Loss for his insights. Lets hear from the rest of you about your specific concerns.
Would someone please inform either the board moderator or Matt that the system isn't working and in fact it's been like this for some time. When I tried clicking on messages # 21571 & 21572 I kept getting #21569. What's the point of posting messages if they are unreachable. Since I'm not a paying member I'll leave the issue to someone who is paying to use this board.
I WILL REPEAT AGAIN(please excuse the all-caps)
I have said many times before. They have your money DO NOT GIVE THEM BACK YOUR SHARES. That's one of the major reasons they try to create these types of panic situations is to stampede everyone into giving up their shares at bargain basement prices. Talk to your tax advisor and he will tell you that you will get the same tax loss deduction whether you sell your shares now or wait until December 31st. What could you possibly gain by dumping your shares at .0001 to .0003 at this time no matter what you originally paid for them. On the other hand, if this company is not really dead(and there's no real indication that it is)you might end up being very happy that you didn't panic and sell
As I have said many times before. They have your money DO NOT GIVE THEM BACK YOUR SHARES. That's one of the major reasons they try to create these types of panic situations is to stampede everyone into giving up their shares at bargain basement prices. Talk to your tax advisor and he will tell you that you will get the same tax loss deduction whether you sell your shares now or wait until December 31st. What could you possibly gain by dumping your shares at .0001 to .0003 at this time no matter what you originally paid for them. On the other hand, if this company is not really dead(and there's no real indication that it is)you might end up being very happy that you didn't panic and sell.
Ric - Is there anyway we can find out who is dumping all these shares. Those who are crying "dilution" or, worse yet, dissolution, look like they may have a point. If this was new interest from longs or other investors the price would be going up. If it's JT selling I'd have to say he's the dumbest CEO since Didius Julianus.
As far as I know JSL has been pre-occupied with other interests and has not been active in the market recently.
Ric - Heard from JSL. You're right, he has been busy but says he'll look over the 1Q next week.
Ric - I sent JSL an email re: his opinion on the 1Q report. So far I havent heard back from him and I wondered if you had. Of course I don't think he's a PLNI shareholder any more so that could be the reason. I miss his incisive comments.
The release of the 1Q audited financials is the prototype report for the remaining quarters for the following reasons:
1. It is the first report to include the Pro-Mold and Semco acquisitions and integrating their financial took some time.
2. We have a new auditing firm and it time to get them completely on board with company operations.
We still have the same problem with SOX as everyone else does and that won't go away unless the SEC or Congress changes some of the rules. I look forward to more information on the 2006 year in the not too distant future.
Actually I don't think we'll see any further decline in the SP. This is the year we start to move and, if anything, the rush will be to get on board before the train leaves the station and that will include the MM's. It's been a long wait for some of us but it is going to pay off.
Ric - This should be called the mis-communication board. My point about the MM's is that they are using an old tactic for scaring everyone out of their positions so that they can accumulate the shares prior to a runup. Even at the current price PLNI is a super bargain. What I'm daring them to do is knock it down to .0001 so I can load up even more. I think it also communicates the message to all concerned that, as a group of longs, we aren't afraid and we aren't going anywhere. I also find it amusing that people are putting a negative spin on the Semco news. Don't they realize that everything in Nevada is connected and that if we're getting contracts from the state we must know some of the right people, including the people building giant casinos in Macao where we just happen to have an office.
A Contrarian View
Have you ever heard the maxim: "When everyone thinks the same way, everyone is wrong." Another version is: "When everyone is going one way, go the opposite." My point is that we seem to be seeing the MM's dancing the PPS down to .0001, picking up shares from the nervous nellies as they go along. A lot of those people can probably afford the loss or got in at lower basis than the rest of us. The MM's hope to shake out most of the float in the expectation of profits to come on the next runup which I still believe will happen.
We all have reasons to be upset with PLNI management over their missteps of the past year but the fact remains that this is a more solid company than most of the "pinkies" I've seen over the years and I think a real turnaround is going to happen. If the MM"s do succeed in temporarily knocking the PPS down to .0001 you can bet I'm going to load up and get my basis down to a manageable level.
In the meantime I am not going to donate my shares to the MM's at this price level and I think anyone who does is an idiot.
DTL - I agree with most of your points regarding the process PLNI is currently going through. I really don't care what the bashers post here or anywhere else and I have most of them on Ignore. I confess I'm a little puzzled by the latest decline in the S/P but I think that it might be the usual MM game that we've seen so many times before. I don't intend to sell 1 share and neither do any of the other investors in our group. If they dance this thing down to .0001 you can be I'm going to be loading up and so will a lot of other people. Just today CNBC did a piece on the casino building boom going on in Macao. Most of those casino are being built by Vegas interests, many of whom have done business with Semco. We allready have an office there. This is just one example of the way we are heading. I still think JT knew what he was doing when he picked up these 2 companies and I think it's going to work out for all of us.
One thing the longs on this board can do is try to establish closer ties with the company and not be bothering them with a lot of senseless emails and faxes. There's a limit to what they can divulge to any individual. I'm open to any ideas on how to accomplish this.
Is anyone going to Vegas next week? It might be very valuable to see how Plasticon stacks up against the competition.
Ric - If that spamming remark was aimed at me I think it was inappropiate. I referenced a posting on SI which I thought might be of interest to persons on this board and which contained links to companies that are successfully selling products similar to those made by PLNI. To be perfectly frank I don't know a heck of a lot about the subject of rebar supports and I don't think most of the posters on this board know much either. It would be helpful if someone, either on this board, or from PLNI management, could give us a background on just how many competitive products we make and where we stand in terms of products and prices with our competitors. If I had more time I would do it myself.
Instead, what I find are negative responses to my posting and a lot of board space wasted responding to bashers like shorts and others who I simply have on ignore, and which I recommend that others do the same.
In the meantime, if anyone really wants to discuss PLNI and its products and prospects I will be happy to accomodate them.
Check out Post#7725 on SI. Sprink is a construction worker and has done some checking with industry people he works with. He posted links to a long of companies that make rebar supports. So far no one that he knows has ever heard of PLNI.
I've said it before and I'll say it again - Sarbanes-Oxley is driving everyone nuts from large European investors who are leaving this country in droves to small entrepreneurs like Jim Turek who have to risk a jail sentence every time they sign an 8-K report. We either do nothing in this country or we get crazy ala SOX. I agree that we need better IR/PR relations starting with dumping Big Apple. One clue as to how we might be doing is that the S/P seems to have stabilized after losing our "so-called" major client, Bluelinx. JT could do a lot for the S/P and our nerves if he would release more info on the company's marketing activities for both Pro-Mold and Semco.
Why is TBLU having a major runup of of 128% today? If I'm not mistaken isn't this JT's holding company?