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Your right DTL. Might just happen. Not impossible. Who knows in the stock market what will happen and why. If we knew that, we would all be sitting around a nice fire, sipping what we like best and reminiscing about how easy it was to amass our fortunes.
2nd Mil, last time they said they had completed a 200 million share buyback, they, at the same time, sold 1.3 billion shares of .001 common from their increased A/S (went to 5 billion).
I guess my question remains, where will the money come from to do the buy-back. From selling more shares? Is that really a buy-back?
According to the shares out now, from the financials, count up the total that have been used. It exceeds the 5 billion. They are already into the additional 8.5 billion.
Look at their balance sheet. How much cash do you see?
They're shuffling debt to Owners Equity accounts by issuing Preferred stock and pledging common stock to make their balance sheet look better with respect to long term debt.
The question is, "Where's the beef?". Where will the money come from to buy back anything.
Expansion, new molds, more materials to supply more customers, increased accounts receivable, payables; it all costs MONEY. Does JT have an angel or and angle?
Just questions that I have no answers for.
Just my thoughts that are bouncing around in my empty head.
If I sell it now, I will make $2000.00. If I hold it until after the strike vote, I might double that. I have at least a year (Bankruptcy Court) before I could lose everything. If it dips to $.60, I have a "stop-loss" sell in.
I am really not at risk right now but I could be by buying more at this time. That's why I'm not buying but indicated that were I to be an aggressive investor, I might try another few thousand instead of going long and holding a pinkie.
If Delta would go through the bankruptcy to Chapter 7, you're right. I would be so far down the creditor list that my certificates wouldn't be worth hanging in the John.
Spencer, don't rue what you don't have. Just follow your plan and you'll be fine. PLNI is not going to shoot through the roof.
Anybody who can really read financials isn't going to drive up the PPS.
I think you have plenty of time to buy back in, if you really want to.
Last piece of (probably unwanted) advice is, DON'T PUT ALL OF YOUR EGGS IN ONE BASKET. If the basket breaks, so do you and all your eggs.
Your probably like me. I made my money the old fashioned way. I earned every cent and every one of those pennies are dear to me.
Good luck my friend. Always a pleasure to read your posts.
If I wanted to risk my money and be an aggressive investor, I think I would buy some more DALRQ (Delta Airlines). It's in bankruptcy but if it does pull it off, it will jump and big bucks could be made. If not, I'm in for 5000 @ .31 and thinking that's a gamble I can take (currently about .69). Holding on to this until after the May pilot's vote on the strike.
PLNI is not my idea of a good gamble at this time.
I see it just dropped back to .005/.0049. I guess the folks who bought at .0042 or so are dumping to the newbies or, maybe---additional dilution? Shorting?
I know it's not a buyback.
I really don't know but according to the financials, PLNI has already dipped into the new A/S.
Just my opinion and no one should invest or not invest on my opinions.
My personal opinion of the Green Baron release - he wants to get the price up and dump. The piece is not true. He left out a few things that were said about profitability last year, stock issues for operating money (no cash in financials), the fact that the entire 5 billion shares are now out and working on the next 8.5 billion.
How is PLNI going to buy back stock when they don't even have operating capital? They are currently selling shares.
The Preferred stock issue goes to JT. It has a priority in insolvency and is all accounted for in a slicky debt to equity slide on the balance sheet.
If I was the only one on the board, owned the company completely, what is the difference to me if I hold a note payable to myself (signed by myself) or a bunch of Preferred stock (I issued to myself). The difference is that the debt disappears on the balance sheet and is offset by a line in the owners equity section.
Green Baron needs to rethink this last note. It's misleading and promotional for -- whom?
Just my opinion.
I'm not leaving, I'm just waiting. With this volume and the PPS staying where it is, I think it might drop. If it gets to a place where it oscillates at a weekly or monthly or quarterly interval , I'll buy back in. I've made a lot of money from PLNI but I wouldn't hold it right now.
I'm not saying, nor have I ever said, that the stock (the company) might not be good someday. I think it is going in the right direction and, given time, could be a viable investment (company). I don't believe it is at this time.
I think that the stock will never go much over one or two cents without a big reverse split but that could happen in a consolidation of the companies when JT no longer needs to hide things between companies and is not using stock and notes payable to manipulate the results (balance sheet).
Just my opinion but I base them on the past performance and the financials - especially the notes to the financials.
I am also looking for some cash here and a statement of cash flow (sources & uses).
Good luck to you and I honestly hope that the company grows and everyone here does well. I'll just keep on profit taking as I see an opportunity.
This is all just my opinion and should not be used by anyone for investing or not investing in anything.
Shorts, even though you have been one of the detractors for PLNI for some time, this last note you just sent is TOOOOOOOOOOO TRUE. That's exactly what's happening. Look at my post to 1776.
(Post 10173)
DTL, also not hard to believe with only $83K total revenue with a large loss. I will still wait and see what PLNI does when JT fills the pipelines he has (which are to his own companies). Man, this dude is good. Just be sure to compare his other company's financials at the same time you read PLNI. Look for share exchanges, inventory increases, long term notes but, look in the short term assets for cash! I failed to see any. Who operates without cash?
Based on his short term debt, it looks like he is borrowing on his receivables to operate. Just a guess.
1776, I see in the release that PLNI intends to issue 106 million preferred shares during 2006 which he is giving to himself to offset the mold purchases from a company he owned.
This is an accounting ploy to reduce liabilities. Debit liabilities, credit stockholders equity.
I see nothing in the financials that makes me want to hold this company.
I already knew about the deal with GP, the mold transfers etc.
They have no operating capital. That's why thry continue to sell stock.
Business is "promised" to increase during 2006. I've heard too many of JT's promises.
Their loss is very large and they're doing a lot of debt forgivness to make the balance sheet look better. However, the forgivness comes with additional stock ownership by JT. Another accounting ploy.
The dude was in cost accounting and he does know how to make the financials look better but I am still very cautious about this company.
13.5 billion authorized shares and a worth of 20 million (per the financials) make the stock worth about .0014 even without considering the large debt, the Preferred stock to be issued and the debt manipulation.
No thanks. Not for me. I'll stick with a company like ASRNF who is into energy cells.
The only thing these financials did for me was to tell me that PLNI is still a company to use as a channel investment. Not a keeper for me
GL to everyone and I hope that the folks who can't see what JT has done, help everyone get their money back.
Patents are valued at cost with a defined life, based upon the type of patent. Usually, a manufacturing process usually has a 20 year life (without extensions). Often, the process can become worthless because of new technology and the patent maintenance can be dropped and the balance of the capitalized amount can be written off.
Other patents have different lives - i.e. Medical is usually 17 years, some only 7.
Cost is usually determined in 2 ways. Internally developed patents can have a value of all of the time and labor dedicated to producing the process plus fees to complete the patent process. Overhead is usually not capitalized but ocassionally, a small portion of overhead that is directly related to the development (Engineering, testing, proving, etc)can be capitalized. Then, the capitalized amount is amortized over the useful life of the patant. If you're a small business, for reporting purposes, you take a straight line depreciation over 20 years (new patent).
Turek bought his patents from Dow (See recorded agreement below). Therefore, they are valued at the purchase price less amortization from 1999. I see $1,200,000 in patents for the plastics that PLNI produces at cost. from 1999. I don't know the life of the patents but it can be found by examining Dow Chemical's financials for the periods before the sale. More than I want to do.
HERE IS THE PURCHASE AGREEMENT OF THE PATENTS BY WICKLUND
Source -Edgar filings- Wicklund Holding Corporation (Now PLNI)
The term of the agreement involved WHC paying Dow Credit Corporation
$600,000.00 down over a period of approximately four months commencing on May
23, 1999, a $200,000 premium note to be payable over three years, and 5% of the
gross income from products utitlizing the patents capped at $400,000. In
exchange, Dow Credit Corporation and The Dow Chemical Corporation agreed to
release Wicklund's patents as collateral. The terms for payment of the
$600,000.00 down include installment payments of $125,000 on March 23, 1999 with
three equal payments of $125,000 in each of the next three succeeding months,
plus a final payment of $100,000 in July of 1999.
The released liens were on Patent No. 4,942,714 Rebar and Beam Bolster,
Slab and Beam Upper; Patent No. 7,401,024 Road
<PAGE>
Signs and Method of Production; Patent No. 7,441,441 Rebar and Beam Highchair;
Patent No. 7,441,835 Modular Concrete Form; and Patent No. 7,556,266 Apparatus
for Supporting Reinforcing Steel in Concrete.
1776, you need to do some reading on stock.
Preferred stock is a special class of stock that is issued. It has a certificate that says "Preferred Stock" on it.It has a priority over common stock in insolvency. It has options for exchange and may be exchanged for common stock (at a specified date in the future), and may be similar to a warrant. It is issued specifically as PREFERRED STOCK with a real value. It has no bearing on Common Stock. It is, to the best of my knowledge, never issued as "Restricted" since the terms of the Preferred issue are on the certificate. You also never buy Preferred Stock on line on the boards.
Restricted stock is common stock that is either awarded to stockholders or companies in lieu of other payment. It has a term of 1 year before it can be changed to regular stock. You must file several papers and pay (quite a bit of) money to have it converted to regular common stock. If you don't have enough to make it worthwhile to convert, you can "give" it to your broker but they will charge you a fee to take it. I just paid Ameritrade $29.00 each ($87.00) to have 3 issues of restricted stock removed from my account. These were issued by CMKX. They were worth less than the cost to convert them and later, they became totally worthless.
Common Stock is stock that you know as "stock" that you buy and sell on a regular basis. It has a stated "Par Value (PLNI is $0.001 per share par value) which has no bearing on much of anything. It is issued and approved as "Common Stock" and is last in line if a business goes bankrupt. Usually, you just use it for the kids to play with if that happens. It is not convertable into anything.
The other normal stock is "Treasury Stock". That is stock that has been repurchased by a company from an earlier sale. It has restrictions on the time you must hold it before you resell or reissue it (to employees or owners, etc.)
PLNI has never issued Preferred Stock! It would have to be registered with the State of Wyoming if they did. Only Common Stock which can never become Preferred stock, regardless of who owns them. JT and family all own Common Stock!
Success, let me explain something about an audit. Auditors do not make the numbers. They take your numbers and test them to make sure that you have reported them correctly in accordance with GAAP (Generally Accepted Accounting Principals) under the FASB regs. (Financial Accounting Standards Board) and the AICPA (American Institute of Certified Public Acountants) releases. The don't "come up" with anything accept tell you that you are either in compliance or not.
If you have followed accepted accounting principals, including internal controls (SOX- Surbanes Oxley), then the give you a statement that says your financials (NOT THEIRS) "fairly represent your financial position" at that date. If they don't feel that you have accounted for something correctly, you get a "qualified opinion" from the auditor that spells out in the notes to the audit, what accounting principals you have violated.
Auditors all work under the same rules and are all subject to huge fines and penalties for incorrectly stating an unqualified opinion because investors rely on their word for Big Buck investments.
For example, Enron's auditors just settled for a huge multi-billion dollar fine that is to be distributed to all those who can substantiate a claim that they lost money investing in Enron. A senior partner has jail time and several seniors were dismissed.
PLNI is no Enron but the same rules apply. It's PLNI's numbers! Auditors don't "Come up" with anything to do with the numbers. They could require adjustments to reserves, require different timing on the recognition of sales, and other items they feel would bring the company into compliance.That's it! That's what auditors do. Any more would place them in a conflict-of-interest and subject them to lawsuit.
I forgot to address your question on financials. That's one of the questions I just asked the SEC. I will wait for their answer and then it might answer your question. I asked specifically about pinkies and financials while outlining PLNI's general actions.
Since PLNI trading continues and we have heard nothing of any numbers that we were promised a year ago, I assume that either PLNI is not required to issue statements or they have elected not to. CMKX elected not to. I lost about $1,500.00 on them when I bailed at a "market" sell on 1 million shares.
I will never hold a pinkie any longer than it takes to make a few bucks on them.
I have a bid in on ASRNF at .115 because it goes to about .25 on every sale or major news. Nobody should jump on this because I do. Just my guess here. It might even go lower from there and I might lose more.
I still think PLNI will continue its current downward trend until we have a release and I don't expect that until JT has sold more shares.
All my opinion (except my loss info)
1776, if the filing with the State of Wyoming is fraudulent then I will be one of the first to be in line for a class action.
I believe the filing because it has dire consequences if it is incorrect. What people say means very little. Talk is cheap but jail time for fraudulent filings is very expensive.
There is no Preferred Stock that has ever been issued by PLNI nor Wickland. Look at Edgar.
The only thing mentioned as a priority in JT's bankruptcy was his personal guarantees. No preferred stock.
Good luck.
fynley, if you look back at 2004 when JT changed the name of the company, the "owners" had a 65% share of the outstanding stock. As long as they maintain a majority of the stock, there can be no hostile take-over. Who would want this little company anyway. It's small potatoes. It's basically a small time manufacturing company with a couple of manufacturing locations and a few sales offices and some agents in foreign countries.
This is no Lucent or Hughes or Microsoft. It's a small outfit that is using pink sheets to gain capital to expand and continue operations. It is my belief that JT couldn't buy a basket of apples with his personal credit right now. I don't know what the corporate credit looks like but, typically, small corporations run at least 90 days on 30 day payables and the smaller the account, the longer they string out the payments. This does nothing favorable for the corporation's credit rating I've worked for such corporations on my way up the ladder.
Therefore, I also assume that their only method of gaining working capital is through stock sales. Expansion costs money.
I also believe that this little corporation is already getting close to being oversold as the stock price goes down. I think that there is a distribution underway right now. I also think that the correct valuation of the stock with the entire issue out will be about .001 which, magically, is the par value.
Just my guess and my opinion. I really don't kow.
I just sent some questions to the SEC about the financials of a pinkie operating like PLNI. I should have an answer within a week which I will post on the board.
Once again, this is conjecture, only my thoughts and has no basis in fact and no one should rely on anything I say to make a decision on any stock transaction. It is not intended to cast any dispersion on PLNI, their owners or workers.
I personally saw this coming, dumped my last holdings of PLNI at .0056, took a $1,200.00 hit and am waiting patiently for something wonderful to happen. Plenty of time to buy back in on the rise.
GLTY and everyone here.
To file a complaint with the SEC -
http://www.sec.gov/complaint.shtml
Anyone seen any stock other than common stock? If you have, please let me know where you saw it. I am only aware of the Wyoming filing that upped the A/S of .001 common stock from 5 billion to 13.5 billion (listed as 13 billion 500 million) @ .001 par, the same as all other issues, even before the stock split.
Please let me know a source if there has been any preferred stock issued. I would like to see a filing on this if it exists. Thanks.
1776, where did you see any preferred shares? I have only seen 13.5 billion A/S at .001 par?
Pappi, it's never too late. Just because there is probably another dilution going on, I don't think that the company is in trouble. It's been around, it's expanding (which takes money and stock sales are probably the only alternative right now given JT's personal ability to guarantee anything) so give it a little time. I am jumping in and out but you can always stay the course. I don't believe that the business itself is in any danger. In fact, it just seems to have growing pains.
Of course, I know no more than you but your action is better than no action. I also think that in the long run, you will probably be OK and make a few bucks. Keep up the good work.
This is my opinion only.
Looks like if ETRD fills, UBSS might move to .0043/.0044 to finish the day.
But, maybe UBSS needs to pick up some shares at .0043 to drop to .0044 without more shorting? Don't know...
Still looking for close to .004 on Friday, given no PR from the Big Buddha at PLNI (or should I say "P" Man?).
I know, that's my bad!
NEED GOOD NEWS!
All either my opinion or my bad taste in jokes.
You're right on everything. If it goes back below .004, I'll buy back in at the 1MM like I had before. I made money buying in at .0074 just before it went up to .02. Also, if we get a good PR, I'll jump back in and ride the wave but I'll not hold until I see financials.
I also feel that PLNI will be a good company but I don't see it rocketing to a buck or anything like that. It is still a relatively small corporation, even with it's acquisitions. But, even a dime at a million shares would be WONDERFUL!!
I would think that they might be worth more but the SEC requires a public company (issued stock), has more than 500 investors (5000 in Pink Sheets) and has a net worth of more than $20 million , to file 8K's & 10K's. Since PLNI has issued stock, has more than 500 investors, the only reason that they wouldn't be stopped by the SEC from issuing or trading without financials, is that they have declared a value of less than $20 million. Oh well?????
Or, maybe they are going to issue financials this next quarter. I hope so.
Your right about the hope involved here. I bought 500K shares in at .0043 and sold at .0048 so I'm empty right now. Just waiting to see what happens.
Until something of major import is released, your guess is as good as mine and we are both speculating in the dark.
The only real negatives here are the additional A/S of 8.5 billion shares (dilution), the lack of reliance on their PR's, no financials, and a negative trend in the PPS .
The good is that the company seems headed in a good direction and JT's been here for over 17 years. The acqisitions, the broad base for distribution, the vertical integration of the business, their own distribution, and the international possibilities all are great signs.
Guess I'll still wait for it to fall below .004 or a great PR release.
Just my opinions and conjecture.
Anyone have any guesses on where the PPS is going to end?
Just a thought, if all 13.5 billion shares are sold, the par value of the stock (.001) will approximate the value of the business (.001481) based on a worth of 20 million and 13.5 billion shares or .00111 based on $15 million of net worth.
Just speculation. No facts.
Nice article X-Fortune. Finley, if you look at an annual report from a corporation, it will have very little bearing on their tax filing. Tax law has deductions, different depreciation allowances, and many other huge differences.
The AICPA regs (FASB) for a financial statement has a declaration or "opinion" at the bottom that says that their audit shows that the companies financial reports "fairly represent the financial position" at a certain date.
So, as the article says, you want to look your best on your financials and the worst on your tax.
I would love to see all public corporations have their tax returns public. It would be great to compare with their financials but it would also raise a plethora of questions for the non-accountant type that would probably go unanswered.
Remember, figures don't lie but liars figure!
From my general knowledge base,
Hey State & Happy, if they paid for mistakes, I would be rich. I would also make more than I do in the pinks.
I think that by the end of this week or as soon as the volume drops, assuming no PR's from PLNI, the PPS will be down around .004 - .0042. I am just guessing from the LII positioning.
Just my guess and opinion and no one should buy or sell anything on my opinion except me.
Luck to all and I hope PLNI does something about the possibility of a defensible PR release soon (Financials?).
Yafu, Pink Sheets is very slow and PLNI doesn't file 8K's or 10K's or Q's or, as yet, any financials to the public - audited or unaudited. They are, at this time, not filing anything. They're a pink sheet company.
Yafu, see Wyoming site
http://soswy.state.wy.us/Corp_Search_Main.asp
yafu - see posting 9977
State, thanks for posting this info. I was about to jump all over it too.
This does point out a significant chasm between the truth and Big Jim's press releases. If there was subsequent information that PLNI didn't anticipate at the 2005 release, another PR should have been released telling the stockholders about the new direction that the company planned to take. I am unaware of any subsequent releases that supercede this one, other than information gathered from Pink Sheets or from Wyoming, that was posted on this site.
It seems that the members of this site, all in all, do a great job in obtaining otherwise unknown info on PLNI. Keep up the good work everyone!
If those shares are issued in any form , the maximum value per share could not exceed .00148. Anything above this would be for performance and estimated future value.
I get this by dividing $20 million(maximum given at least 500 shareholders and having issued stock without filing audited statements according to the SEC) by 13.5 billion shares.
I think the stock will plummet unless someone shows a bunch of really hot promo's, including financials with notes to future plans) regardless of any reason to authorize that many shares.
Of course, if the corporation is to be consolidated with one of JT's other holdings, that would effectively be a reverse split after selling off a ton of (PLNI) stock and having a pile of cash.
Too much going on here to really evaluate in the dark with no light to see by and the end of the tunnel is still way around the bend.
This just became a very scary stock for me.
Just my opinion.
I rescind my intent to buy back in at .0043 and am taking a very "wait and see" attitude here.
Meanwhile, I think I'll look around for other possibilities.
Good luck to all.
Rook, don't give up. The business will probably make money if it continues in the direction they say it is going. Even if the business is sold it will make you something more than you have right now. I have made close to $13K on this stock. If I buy in again at the end of this week, it will probably be around .0043 or so and I will hold it until it gets to .0073 or close to that. That will make me about $3K on 1 million shares. I'm not looking for the rainbow here, but rather just a dip from the pot at the end.
Just my opinion. Good Luck to us all!
Quiet, I was just supposing to answer why you wouldn't buy back shares right now. To answer your why on cash usage, I didn't say it was bad to invest in equipment. It was a smart move given the (assumed) business plan based on the concurrent events (getting a new supplier, broadening your direct OEM sales, etc.)
All that I was saying was that this all takes cash. You increase production means more material cost, more labor cost, maybe, more overhead cost. This is not bad. It's probably great but it all takes cash.
To sum my previous note, you wouldn't buy back shares in the middle of a cash using business expansion. It wouldn't make any sense.
I think that PLNI seems to be doing things in a very well thought out direction as well as I can tell without seeing their financial statements. I think the company will become stronger and, eventually, flourish. I don't think that it will hit the big boards with 5 billion shares outstanding and keep it's PPS over $5.00 without a major reverse split unless you consider Nasdaq OTCBB a big board.
I do see Lucent with almost 5 Billion shares out but it is a huge international corporation that is staying on the board at around $3.00 +/- per share. It also issues 8 & 10K's & Q's and has assets and cash in the billions of dollars.
Anyway, I hope we all prosper and PLNI gets the financials out, we get a raise in the PPS and the MMs take a hit.
Just my opinion.
Out on a limb here - Thursday's guess (given no PR release from PLNI)High-.005 end Bid .0046, End ask .0047 or -.0002/-.0003 for the day.
This is really a SWAG!
Any relationship between this guess and reality is purely coincidental.
Rook, just my thoughts.
If you were a corporation who just floated shares to buy another company, had to increase your cash usage by increasing your Fixed Assets (injection molds etc.), Inventory and Accounts Receivable to supply a new supplier's empty pipe line and had almost no credit and your guarantor had just been through a bankruptcy, would you consider doing a stock buyback? That takes a lot of cash out of your operation and increases your treasury stock that has a hold-duration prior to resale.
It would be my guess that PLNI has a bank arrangement to borrow on a percentage of their net receivables because the bank usually gets the payment money and then gives you your part. That's not uncommon to keep a poor or growing business in cash, which it must have in order to continue to be a "going concern" and cover their payables, payroll and taxes.
Of course, there is money available from the risk market (high percentage from private lending groups) but I have never seen a company borrow money to buy back their common stock. That would be rather dumb, to pay interest when you don't have to. I could see issuing more of the AS for working capital before I would consider structuring long term, high interest debt.
PLNI still owes us some (previously promised) financial statements and I think that any buyback will come well after that happens, if at all.
I would even like to see the statements they supply to their credit sources or use for tax purposes. They wouldn't even have to be audited at first. Issuing false financials for almost any purpose would constitute fraud, at the least; They would serve as a guideline for us blind investors.
This is all just conjecture and only my opinion except in those portions where I write about the availability of money in the open markets.
Makalu, be careful of all the hype about Pro Mold working 6 days a week and several shifts. In the corporate world, when you acquire a large distributer, you have to "fill the pipe line". I will wait until I see consolidated financials with intercompany eliminations before I make a decision. I would also take a good look at TBLU's inventory change. If I wanted to make a company look good and I owned two separate corporations, I might sell a lot of inventory to myself and, since they are not in the same corporation, report the sales and reveues generated and just let my second company have an increase in inventory and an increase in Accounts Payable. I might further cloud the water by putting the AR onto a short term note payable or even a long term note and report only the current portion in the near cash and working capital calculations.
I think they referred to this in some circles as "cooking the books".
I'm not saying that anyone is doing this. I am just saying that you need to look at everything that any company owns to get a truer picture.
I know of companies that have actually shipped large dollar orders to another company, recorded the sale, then, after the year end, had them shipped back into inventory. That way you can hit your reserves and inventory and the effect is zip since you already took the hit for the reserves in a prior year.
Just do your own due diligence.
Just my opinion and I don't do all that well in the stock market.
DTL, I just said I was waiting for .0043 or less to buy back in. I just watch what's happening with UBSS & NITE. The rest seem to be buying and selling orders. UBSS is kicking NITE's butt unless their collusive (which I don't know).
Your guess is as good as mine. I have no more ability to predict than you do. I just post what I think will happen.
Unless PLNI comes up with something or one of these two buy a lot of stock, I see nothing but the PPS going down as they continue to short the stock.
If one of them builds an inventory, they will try to run the PPS back up.
Then, there's the short run up, short the stock, then run the PPS back down to fill.
Nothing mysterious here. Just MMs controlling a quiet stock.
As soon as PLNI hits with a couple of PRs, I think the stock will jump back to about .01 or so. Maybe, .007+ because of the volume of shares now out at .0057 and below.
I would love to see a couple of good PRs so we could all ride the wave and sell somewhere around the crest.
This is all just my opinion. No one should buy or sell their stock on my stupid thoughts. As I said, I know no more than you what will happen.
Volume looks slow. NITE should need about 20 million at .005 to fill the shorts sold last week and this week. If they do fill tomorrow, UBSS could move to .005 ask -.0049 buy. Then, I would expect .0048/.0049 or less by Friday. Still waiting to buy back in again at about .0043 or less.
Like I said before, I hope PLNI floats a big PR that shoots the PPS up over .01. Be better for everyone.
Just my opinion.
Shorts, just to expand a bit on pennydream's reply, those are known in manufacturing as "OEM" agreements or Original Equipment Manufacturer. They sell to other manufacturers directly at a cost that is at, slightly above or slightly below the wholesale pricing and they might pay the distributer a commission on the direct sale which is also not uncommon.
I would imagine that that was written into any agreements that were signed with the distributor.
Looks like NITE will pop to .0053 and short. They are sitting at .005 ask but UBSS was the big short seller yesterday so they need to buy below .0052. Of course they will buy and sell all day at a .0002 spread.
Just my opinion.