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rrm.. nobody is saying Big Apple did anything illegal.. Tricking investors into falling for their wide range of misleading PR bull$hit and then dumping billions of shares on the unsuspecting investors isn't illegal. But still pulling such stunts on unsuspecting people.. They are rotten to the core.
Show me a single company that Big Apple worked with that is currently prospering right now. Please rrm. Do this.
Their history is of taking shareholder value and making it disappear. I forecast PLNI to be under .0001 before mid-summer.
Here's Big Apple Clients:
http://bigcharts.marketwatch.com/interchart/interchart.asp?symb=IVCM&time=11&freq=2
http://bigcharts.marketwatch.com/interchart/interchart.asp?symb=CNTL&time=11&freq=2
http://bigcharts.marketwatch.com/interchart/interchart.asp?symb=NUER&time=11&freq=2
http://bigcharts.marketwatch.com/interchart/interchart.asp?symb=RVME&time=11&freq=2
http://bigcharts.marketwatch.com/interchart/interchart.asp?symb=AVNT&time=11&freq=2
http://bigcharts.marketwatch.com/interchart/interchart.asp?symb=CKYS&time=12&freq=2
Other Big Apples that don't exist anymore:
CMIH, HRTT, AMXX
Grocock:
http://www.cfo.com/article.cfm/8881000/c_8885792?f=home_todayinfinance
Big Apple's long tradition of taking shareholders and running them into the ground. Anyone who purposedly deceives investors with misleading PR's is a bunko artists.
This company has $4.5 million in negative net tangible assets and has lost $50.9 million over the past 7 quarters.
gerlac68.. I made a mistake, I acknowledged it already (but was deleted). Scottrade java charts are bungled.
rrm.. to your question earlier.
http://www.pinksheets.com/quote/company_profile.jsp?symbol=PLNI
"Number of Shareholders of Record: 657 as of 2006-09-08"
PinkSheets.Com HAS updated these numbers.
http://www.pinksheets.com/quote/company_profile.jsp?symbol=PLNI" target="_blank">http://web.archive.org/web/20050205054535/http://www.pinksheets.com/quote/company_profile.jsp?symbol...
Number of Shareholders of Record: 693 as of 2004-11-15
http://www.pinksheets.com/quote/company_profile.jsp?symbol=PLNI" target="_blank">http://web.archive.org/web/20050926213607/http://www.pinksheets.com/quote/company_profile.jsp?symbol...
Number of Shareholders of Record: 3,800 as of 2005-09-01
http://www.pinksheets.com/quote/company_profile.jsp?symbol=PLNI" target="_blank">http://web.archive.org/web/20051227015457/http://www.pinksheets.com/quote/company_profile.jsp?symbol...
Number of Shareholders of Record: 5,000 as of 2005-12-07
http://www.pinksheets.com/quote/company_profile.jsp?symbol=PLNI
"Number of Shareholders of Record: 657 as of 2006-09-08"
It's on Turek to prove his numbers. He made a false statement in his letters to shareholders. There aren't "nearly 12,000" shareholders as he claims.
Either you are shorting this stock, represent someone who is shorting this stock, or are part of a group of people who are fanatically aligned to save us all from ourselves.
None of the above. Please try again.
And no, I've never posted on Ihub under a previous alias. NEVER.
barter.. the revenue trends are miniscule.. like wise with the debt reduction. Not enough to make a dent. Unless they find $20-$25m revenue in a hurry, I think PLNI has either A) Chapter 11 written all over it or B) Issue shares into the hundreds of billions (soon trillions).
I suspect B is going to happen.
Kaz92040.. Can you tell me how Plasticon is either going to A) increase their revenue or B) increase their profit margins.
I'm assuming you did due diligence of this company and realized they carried a $4.5 million net tangible asset deficit.
So you must see something in the future that will equal $20m+ revenue that can make this company profitable?
honestly trub, I think your odds are better with a couple powerball tickets that cost a couple bucks than in this stock for thousands of dollars.
People who've been in this thing for a while have already seen their $10k investments shrink to a couple hundred bucks.
There's just absolutely no sign of the necessary revenue required to turn a profit here. I'd love for a long to point it out to me if they got one.
rrm_bcnu.. At current margins, PLNI would of needed $23 million in revenue to cover the general selling & administrative costs 9 months ending 9/30/06.
I would LOVE for you to explain how this is going to happen. You guys say you are long but you won't tell me how the company is going to realize these revenues. Okay.. AV CB adds $7 million sales, let's say the company see $1.5m gross. I'll give you the benefit of the doubt and be generous by saying the already existing company adds $7m in revenue themselves for $1.5m gross.
You're $9m revenue short of covering selling & admin costs. Where's it coming from? More negative quarters is the results. If you think Turek can just keep buying more and more companies with more and more shares, and be successful, then I don't know what to tell you. I got no idea how many shares he plans to give AV CB for that business. This thing would literally have to be in the TRILLIONS of shares for him to get the necessary revenue to pay off the selling/admin costs. And all that just to earn a very small net income?
This is mind boggling.
As to your link.. It puts a minor dent heavy selling that's been happening for the last 2-3 weeks.
cimarron, the potential of PLNI is limited. They only realized 23% gross margins on their revenue in their 9 months ended Sept 30, 2006.
On $4.76m revenue, they got to keep $1.05m of that revenue.. and they spent $5,130,698 on just selling and general
administrative costs!!
At these margins they'd have to do $23 million in revenue just to cover selling and general administrative costs!! They are nowhere even close than that.
rrm_bcnu.. it's not for sale because I don't think anybody in their right mind would buy it. $4.5m Tangible asset deficit and no profits. Who would pay for that?
Small companies establish themselves as profitable entities usually before they get acquired by bigger fish.
cimarron, would you mind sharing some of your data on future growth trends with me?
trub.. Basic rule of Ben Graham/Warren Buffet investing. When you analyze a company before you buy shares in, you have to look at it from that point of view and ask yourself the hypothetical question:
If you had $10 million dollars in the bank, would you spend $3 million to take this company of Turek and shareholders hands, knowing that you'll instantly be saddled with a $4.5m net tangible asset deficit and knowing that the company lost $50.9 million the previous 7 quarters?
If you got $10m in the bank, doesn't this seem like a pretty risky investment??
If you would make that investment, then you believe its undervalued.. If you think that investment is extremely poor, then you think the stock is overvalued.
I think the stock is VERY overvalued.
rrm_bcnu, So there's 657 brokerage houses out there? That's funny. The number of "shareholders of record" on pinksheets.com actually was over 11,000 about 18 months ago. Explain that.
cimarron.. According to their latest financials they have a net tangible asset deficit of $4.5 million and have lost $50.9 million in operations over the past 7 quarters. (i.e. you could sell all of their assets, it wouldn't cover their debts!)
Who would want to own a company that has done that? Forget PLNI's product for a moment, they may have a fine product. You need to look at management and the way they've run this company into the ground.
trub, as of September 30, 2006
PLNI had tangible assets of $4,463,956. (Just $17,000 cash on hand at the end)
PLNI had liabilities of $8,965,473. (Would be worse if it weren't for the "forgiveness" of debt of $6.8m)
Net Tangible Assets = -($4,501,517).
PLNI had a net loss of $19,273,492 in the 9 months ending 9/30/06, a decrease from its net loss of $12,563,459 in the 9 months ending 9/30/05.
So here are the facts.. As of 9/30/06 the company had negative $4.5m net tangible assets and over the past 7 quarters has had an operating loss of $50.9m.
That is why I don't see any accredited investor in their right mind paying more than a token offering to take this company off shareholders hands.
Kaz92040.. trading below its expected value? You do realize that PLNI has lost $19 million dollars through the first 3 quarters of 2006?
What do you think a company who has spit through that much money (and diluted the share count) should be valued at?
I believe they are drastically overvalued with a $3m market cap right now. With the debt they are saddled with I can't see any accredited investor in their right mind putting up more than $100,000 for the entire company.
By all means, be my guest. Big Apple knows their own track record.
* J. Bennett Grocock
* Their history of "Pump and Issue".
* Incompetent investor relations (They tried saying PLNI only had 3.6 billion O/S in January).
bring it on.
Did you ask him any of these questions and what were his responses? Did he clarify the 64.8 billion share question?
rrm.. I guess those questions were too tough to handle?
Good for many CEO's.. Turek is in that same group as far as I'm concerned.
Mr. Turek - Where is the clarification from management about the 64.8 billion shares??
Mr. Turek - Why did you have to issue billions of shares throughout 2006?
Mr. Turek - What happened to the $14 million dollars raised from those new share issues?
Mr. Turek - Why is a Megan's Law offender on the board of directors?
Mr. Turek - Why did you hire infamous bunko artists Big Apple Consulting to do your investor/public relations work?
Mr. Turek - Big Apple has a checkered past, what did you see in them for PLNI?
Mr. Turek - Why does the company continue to sign off on misleading press releases?
Think we'll ever get answers to these questions. Keep dreaming.
rrm_bcnu .. simple.. The company has been trading as PLNI since early 2004. How many conference calls have they allowed open questions from shareholders.
3 years is a pretty "long history" if you ask me to not let shareholders ask management business related questions in an appropriate forum.
If he has held an open conference call, I'll retract my statement. But as far as I know, he hasn't.
rrm_bcnu, how do you know if they actually attended the meeting?
trub.. I haven't seen a post from any shareholder on any message forum who said they attended this meeting.
As far as we know, nobody could of showed up.
molson_ice.. Honestly, it wouldn't surprise me one bit if he didn't allow shareholders to field questions. Or if he did, he just ducked and dodged them.
He wouldn't allow questions during his Conference Calls.
molson_ice1.. They didn't promise to buyback shares in the open marketplace.. and they don't have the resources to do it anyway.
This "buyback" fantasy needs to stop. For your guys own health.
pappi.. there was no promised buyback.
bartermania. Your analysis is a bit off base. You cannot look at revenues or future revenues and compare them to the market cap. You have to look at the potential prospect of NET INCOME to the coffers of PLNI. So far it's nowhere to be seen in the past, present, or future.
We have no idea how the company plans to pay for the AV CB, "$80m sales".. most likely more dilution, we'll see.. I doubt the company has too much credit with any banks right now. I don't know how much more money Turek can squeeze out of his LexReal and PCI bank accounts. He's already forgiven debt to himself a countless number of times, so who the heck knows what he's got left. Probably not too much.
We also have no idea what kind of margins are on those supposed AV CB sales. Great $7m revenue this year, what kind of gross on it? 500k? People don't just hand profitable businesses away on the cheap.
Net Income is absolutely nowhere to be seen on this thing.
X-Fortune Oh.. the secret letter in the mail with all the answers on it? Is that what triggered the 100 million shares sold at the bid on Monday (vs 13m at the ask).
wererabbit.. Bingo. All kinds of questions asked and answered, so what now Turek? Only shareholders who attended the meeting get to know these answers?
This is downright laughable.
It's safe to say that Tuesday's PR "Plasticon International, Inc. Increases Profits by More Than 77% While Reducing Operating Expenses" influenced a couple people which resulting in the positive purchases at the ask?
I mean, there was nothing in there that wasn't in the quarterly report that was released last Thursday.
I don't see any purpose for PLNI to release that PR unless they were looking to start putting more shares in the market.
This is classic Big Apple Consulting work right here.
eyeamgame.. Of the 5 biggest trade blocks today, 4 of them were at the bid of .0003
Would you like to look at Monday where about 100 million of the days 113 million volume was traded at the bid of .0003.. The first trading day after the big shareholders meeting?
What do you think of Monday?
Thanks in advance for your response to that question. It cannot be denied that there's been more selling than buying. I believe .0002x.0003 is just a matter of time.
BTW.. On Monday.. There was around 100 million shares traded at the bid, just 13-14 million at the ask.
Wow.. What a whopping follow up to the shareholders meeting.
rrm.. Where's the income at from all these segments?
I see the company lost $2 million dollars last quarter. .0003 a share. The stock is trading at .0003 a share.
Where's the profits?
Where's this shareholder news that was suppose to be released "Tuesday or Wednesday" according to the guy who called the infamous Big Apple Consulting.
The company brags that 3rd Quarter 2006 Gross Profits are higher than 2nd Q.. Well they are still lower than 1st Quarter 2006.
Where's the profits? How are they buying back shares?You've yet to answer these questions.. Where's this $400,000 coming from that you said could buy 1 billion shares ?
rrm_bcnu, OMG Where are they going to get this $400,000 at?!?!
Stock drew my interest from a screen I did. It looks very, very interesting. Can anyone tell me why this thing has been trending down the past year or so.
This looks like a major scam.. Can't believe people are falling for it. It's funny though. They're taking advantage of people who are paranoid over MM's. I'll pass and laugh as you guys hand over your bank accounts to these shady characters in Panama.
A guy that works at the same place I do fell for the Nigerian e-mail scam for the tune of $6,000. Looks like you guys will be joining him on the "DOH!" list.
There's been no income. The company lost $2 milion last quarter, are supposedly buying a big construction company with $80m in sales, and yet people think they have money for a share buy back?
Please Rick. Don't delete this. You are worried that new investors might see that PLNI lost $2 million last quarter instead of the "Look at our Profits" misleading PR they released yesterday?
Only Plasticon can put out a press release like this:
Plasticon International, Inc. Increases Profits by More Than 77% While Reducing Operating Expenses
While failing to mention that the company had a net loss of $2,062,370, or $.0003 a share.. Oh wait, that's what it's trading at NOW! LOL.. Amazing.
It's funny that they ran out of people to buy this misleading garbage. What was it, like $5000 bucks traded yesterday? Hilarious.