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So Beano, do you think you should have followed their advice and sold today?
I think most of us have already fallen of the cliff and are waiting for the rising tide.
Thanks for the good news Peace. Let's hope were in for calmer days and steady increases after the shakeout we've had. Let's hold and accumulate. GLTA.
For what it's worth, I just noticed Ameritrade has O/S @ 1,329,283 and MarketWatch has them rounded to 1.33B. That's about 500M short of what we've been thinking. According to the 14C filed for the name change in 9/2004 management owns 937,952,062 of the O/S which would leave a float of 391,331,938.
That 16 mil purchase at the close is probably an indication of just how bad the big boys want to score on this and, IMO, could signal the beginning of a new and sustained rally. I hope so. GLTA.
I called and left a message about the float and also faxed them a copy of the filing with my phone number asking for comments.
No news and the usual morning sucker rally...
I guess bcause they weren't upfront about it...they sneak it in unannounced at the last minute with a majority of one vote. I guess they were hoping no one would notice since they don't have to report to the shareholders. If it's beneficial for the growth of the company I think the shareholders would probably be for it. I always thought it best to be upfront. A lot of us have been holding substantial long positions for a long time and are now back where we started because we believed what was being said.
I don't think he authorized an extra 3 Billion shares unless he was going to spend them. What would be the point?
I feel betrayed after having been told by Mr. T that shares would be reduced. 5 BILLION, I guess that tells us which way they think share price is headed.
Best ask now is .0068. Until the numbers come out and/ or momentum freezes out the MM's these short lived rally's will most likely continue.
The MM's making a new market for themselves probably.
Do you think we hit bottom? I thought it might go as low as a half-cent?
What's up with all the volume? Bash? How lo can we go?
Plasticon Transfers Wholly Owned Inventory of Injection Molds to New Production Facility
Injection Molds Have Been Independently Valued at $10 Million
LEXINGTON, KY -- (MARKET WIRE) -- 10/31/2005 -- Plasticon International Inc. (OTC: PLNI) announced today that on October 28, the company moved its wholly owned inventory of injection molds to the Pro Mold, Inc. production facility, to prepare for the completion of the acquisition of Pro Mold on November 9th. The inventory of injection molds has been independently valued at $10 million.
"We want to be prepared to immediately get into production the day after closing the acquisition," said Jim Turek, President and CEO of Plasticon International. "That is the main reason why we decided to move our inventory of injection molds in advance. There is a $1 million backlog in orders for Pro Mold. Additionally, demand has been increasing for our patented recycled plastic rebar support products, so we are very anxious to hit the ground running with our new facility. Acquiring Pro Mold, Inc. is a milestone in the history of the company. Plasticon will no longer rely on contract manufacturing from this point forward. This is the first time that Plasticon will control the manufacturing process from start to finish through its own wholly owned production facility."
The new production facility allows for $20 million in production and sales annually at present production capacity, and $8 million to $10 million in additional production capability with the recent purchase of several new Toyo machines. The total production capacity for the facility in the first year will be between $28 million to $30 million.
For more information about the Plasticon International and for important updates, please visit the Plasticon web site online at www.plasticonintl.com. Plasticon was recently featured in Investor's Business Daily and can be viewed on the Investors.com web site at: http://www.investors.com/corporatenews/nw111.asp. It can also be viewed on the Plasticon International web site at: http://www.plasticonintl.com/manofrecycledplastic.pdf.
This is truly a trick or treat scenario isn't it Lem?
Do you think Turek is responsible for this share price manipulation? I know he's played his hand badly but with all the soft pr lately he seems to be cognizant of the situation now with blood in the water.
If you have a deal, then sign it. What are they waiting for? Do they have the cash? Is it a production scheduling transition thing? You know there will be no 10K until PRoMold and Semco are officialy bought.Maybe they'll even wait for 4thQ results before they file. Once the acquisitions are complete they will only have about a month left til the end of the quarter and can fill with more PR.GTA.
The soft parade continues....
CEO Webcast Featuring Plasticon CEO Jim Turek Will Be Featured on Thegreenbaron.com on Monday, October 31
LEXINGTON, KY -- (MARKET WIRE) -- 10/28/2005 -- Plasticon International Inc. (OTC: PLNI) announced today that Plasticon President and CEO Jim Turek and senior consultant Bill Howe will be featured on www.thegreenbaron.com in an exclusive CEO webcast on Monday October 31st. The webcast will offer new and existing shareholders an opportunity to learn about exciting recent developments with the company.
My guess is under a penny and close to a half-cent.
These large share purchases at the close seem to have been happening recently on a fairly regular basis. My thought on these purchases is that Turek is buying cheap shares to retire later and that is why he hasn't shown a great deal of interest in maintaining share price over the last couple of months.
Pre-trade price is up... Let's see if we get another drop on good news. Could be a good time to buy more?
Well at last we hear something about Semco. November could be a good month. Seems like everything is finally coming together.
TFN- Turek must know the only way for his company to succeed is to get off the pinks.I see no reason why he would not file the 10K.
Seems like they're not talking about Semco anymore. Matt says they're still waiting on the chemical analysyis...it's been two months since the analysis was started. Doesn't seem like it's going to happen.
Would should be hearing something on Semco soon. I'm getting a little concerned that there may be a problem with the acquisition. Although, ProMold is more important to PLNI's immediate future.
Pretty quiet around here eh?
I'm not an accountant Jim, but it seems to me that Turek wants to incorporate Semco & ProMold revenues into the 10K audit for max curb appeal. IMHO, Turek has wanted to make sure that he has supply, manufacturing and distribution resolved and that he can show a profit and that is what has been taking so long to complete the audit he has been talking about for a year or more now. I think the Xylox acqusition that fell through also delayed his plans. PLNI is Turek's baby all the way and he wants it to be the best it can be. GLTA$$$
If it can be made out of plastic for a profit I'm sure PLNI will find a way to make it. But let's get on the board first$$$
They probably are planning on continuing the existing revenue stream of ProMold and brought in the new machine to increase production capacity to accomodate both product lines.
That's great news! Now to get Semco wrapped up and out with the 10K$$$
How about fifty cents?
Could be Jim but that's not what's holding up the 10K.
Glad to have you join the Top Ten reasons why there's no 10K. According to the company's PR on 2nd Q results, we are already profitable. Of course it would be nice to know the 3rd Q results as well, but I guess we'll have to wait. At some point, share price will get their attention and I think after today's reaction to the soft PR they must be thinking that this is getting ready to sink like a stone unless some hard news is forthcoming. They know the cards they're holding and the stakes involved. Maybe there going to go for the Grand Slam and have one killer news release that includes everything. I'm long and not worried about share price and will buy more. My only concern is why are they not forthcoming on the specific reasons for the delay? As stockholders we have a right to know.
Minus 200mil retired. 400mil supposedly in the float.
Which begs the question as to what is it exactly that is holding up the 10K? We have heard all the explanations from accountants on their honeymoon to the acquisitions to the stringent audit requirements....my dog ate it, etc. But what is the real answer? Maybe we can put together a Letterman top ten and send it to Mapple for future use? Here's #10)Too busy keeping the share price down while buying. Anyone for #9?
Think it will go subpenny again?
Unfortunately Fynley there are only generalities and no specifics to be had. Everything is "soon" so I gues the best we can hope for is some release that will keep this from going sub-penny at least temporarily.
Matt returned my call. Said we can expect announcement soon on multiple issues and conference went well.
See they finally posted the Barcelona PR at the site.