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Open Message To RRM and Others
One of the oddities I've encountered with this stock is that it is difficult to establish exactly who is on what side and who is attacking whom and for what reason. The fact that I've vented frustration with JT on a couple of occasions has earned me a dedicated group of attackers and I'm sure this message will bring them out. The fact is that I just added to my position yesterday and now have 3 Million shares. An associate of mine has more than double that. I'm still not happy with the way JT is handling things but I think that overall PLNI is making real progress and I have no plans to sell.
I notice that there are people on this board who seem to be making a career out of bashing, not only here but on other boards and I confess I don't really understand their dedication.
You, Jim Stop Loss and others have consistently posted good information and I think that those of us who have a positive outlook on PLNI should continue to do all we can to get the message out.
Low - Where do you think the latest GTE fiasco is going to lead. I see the stock price is still holding firm around .70 even though de-listing from AMEX seems a foregone conclusion. The shorts must be having a field day waiting for the other shoe to drop when the de-listing announcement is finally made either sometime later this week or early next week. As far as I can see there isn't any good news expected from GTE anytime in the near future so it looks like a totally negative situation with no immediate resolution.
2nd Mil - Are you saying that PLNI will have up to date 2Q06 numbers available and, if not, how up to date will the information be? As far as I know from following this board PLNI has posted audited numbers up to 4Q05 but has not posted anything for either 1Q06 or the current quarter. If PLNI does come up with audited figures for either quarter we could be seeing the "POP" you are predicting and I hope you're right!
Keynsian - I would be interested in hearing more of your thoughts on the uplisting possibilities for PLNI and the completion of the necessary audits to get them there. I bought in last July when there were promises in the air of completed audits by early August. I realized that the acquisitions and the SOX requirements may have thrown a monkey wrench into those predictions and I'm waiting patiently to see when they will be completed.
Low - GTE has been bouncing back and forth in the .60 to .75 range since the announcement yesterday and I can't figure what is holding it up. AMEX is obviously going ahead with the de-listing which should put GTE back in the penny category. This has been a disaster for all of us and I extend my sympathy to all those on this board who have lost money based on the exaggerated claims of Tim Huff and others.
Sam - You and I have been around since the late nineties with ADGI/GTE(I post as Fynley on this board since some unimaginative axxhole to my "Proximan" handle before I got here). Anyway, we've been through a lot of ups and downs and, like many people I'm sorry I didn't sell out when this thing hit .36 on the OTCBB. Nevertheless, the issue now is where we go from here. We're getting slaughtered on the S/P as you pointed out and certainly we all have good reason to be furious with the inept Mr. Huff but there's also the issue of saving our behinds and how we can go about it. I'm trying to retain some of my optimism.
Low - I appreciate your comments on GTE and I agree that the most likely reason for this halt is a possible de-listing. GTE has missed to many target dates and undermined their own credibility with the Russian deal PR's. Nevertheless, their are plenty of losing stocks on this 3rd rate stock exchange and I think it's cheeky as hell for them to single us out when they know the company is on the verge of profitability. If their are sinister forces in the background trying to make money at our expense then I think it's time to contact Eliot Spitzer. JMO.
Let's Not Have Any "Death Threats"
Motley Fool is alleging that they have received death threats from GTE investors in the past when they published their "objective and unbiased" articles about us, suggesting that GTE investors somehow resembel the Manson Family. All I know is that when I brought up their website to read their article attacking Maxwell Murphy I immediately got hit with one of their sleazy popup ads trying to sell me on their get rich quick services.
The place we need to be contacting is the AMEX. They owe us. We did a 15 to 1 split just to get on their 3rd rate exchange and they have a lot of listed stocks thay aren't performing anywhere near what GTE is doing.
JSL - I have to admit I was taken somewhat aback by your statement that Pro-Mold is NOT a profit center for PLNI. As far as I can see Pro-Mold IS the company since before we acquired them PLNI did not have the capability to manufacture its own products. Now that we've acquired PM we should become more profitable since we now control our own manufacturing processes. I probably misunderstood your meaning, or at least I hope so. Thanks.
Bob
Jim - I scanned the previous posts regarding the preferred stock situation and, once again, I have to ask the obvious question as to why JT isn't putting out more information about what he is doing and why. After all he's had several opportunities to do so and he hasn't done it. In the meantime, PLNI is developing an enormous credibility problem that will be hard to shake even if all optimistic predictions come true. JMO.
Jim - Like you I didn't have time to read the complete release from PLNI but I'm wondering why they would simply release old information or, if there is something new, why wouldn't they put out a PR. Right now, the market is in such bad shape that I hope they hold off on doing anything because it would be wasted in this market.
I am allways impressed by persons who believe in the "power" of government. The simple fact is that the SEC and most government agencies at all levels are virtually powerless to deal with anything and they report to congressional committees who want to keep them that way. There may be a few "smart" operators out there who can take advantage of a given situation but in reality the economic system sorts out the winners and losers as it's doing at this very moment.
Government at all levels is farcical, otherwise how did 12 million people walk across our border? The State of California has a department charged with investigating housing discrimination that has all of 2 investigators for a state of 35 million people. Does it sound like they are overly concerned or is it simply that they know that the housing market can sort out it's own problems without Big Brother's help.
I don't think the SEC is much different.
Jim - Specifically what do you think it would take in the way of timely reporting, increased revenues, and other financial restructuring to end this morass we seem to be in with the PPS. I had hoped the Katrina recovery would be a shot in the arm for Bluelinx and, indirectly, PLNI as the rebuilding commences in the affected areas. This doesn't seem to be the case.
JSL - I'm not sure I understood your previous post concerning the SEC. How could PLNI be publicly traded if they are not registered with the SEC? I assumed that was a requirement for everyone from the NYSE listed companies to the Pinkers.
Would someone please post the text of the report PLNI issued today. I've been trying to bring it up on Pink Sheets with no success.
Jim - I think you're right on the buyback issue. It would be senseless at this point for JT to pour a lot of cash into buying stock when they just had to inflate the float in order to complete the acquisitions. I know this makes everyone crazy every time it's mentioned but the only thing that makes any sense would be a well timed RS. GTE did a 15-1 split to get listed on the AMEX and at some time when PLNI is showing profits and is ready to move up it might make a lot of sense for them to do the same. Reverse splits have a horrible reputation because of the their misuse by stock hustlers but there are also many examples where the shareholders benefited.
Hi Jim - It's good to be hearing optimistic news on an otherwise dreary monday. I hope Jim doesn't release the audited financials until we get some kind of decision from the Fed on what they are going to do and get some direction in this market.
Matt - I still have never received an explanation of why I have been suspended or how long it's supposed to last. I am also being restrained from posting on the GTE and Lowtrade boards where I have posted for a long time without ever having anything remotely like a TOU violation and I can't see why that is the case. I admit I am not a fan of Nanopatent who runs the Plasticon board but, again, I have no idea what exactly provoked this situation.
Ok Matt, This is the 4 and last message I'm going to send you. You haven't given me the courtesy of an answer dealing either with the TOU problem or any idea what this is all about. In reality, this situation was brought on by people that abuse your board more than I ever have. Nevertheless, if you want to reinstate me leave a mail message on the PLNI board or send me an email. In the meantime I can continue reading the posters who interest me and I have ways of getting in touch with them if I want to. Good Luck
Bob (Fynley)
I regularly post on the Globetel Board and on Lowtrade's board and I have never had a problem of any kind. This suspension prevents me from posting on boards which are important to me and have nothing to do with Plasticon. For that matter I still can't understand what TOU I violated unless it was to recommend to the board members that they use the ignore feature. I think I also commented on the current moderator's lack of interest in the legitimate complaints of some of the members. In any event I don't need to post on the PLNI board and I'll be happy to stop posting there if I can continue on GTE and Lowtrade.
OK Matt - You still have not responded to my message and even given me the courtesy of knowing what TOU is involved here. I assume then this suspension is permanent and all I can say is that if this is the way you run your business then good luck.
TO: Matt
First of all I never got a message from you outlining what I am supposed to have done wrong. This problem began when I defended Jim Stop Loss from other board members who were bashing him. Check his posts and see if you feel any attacks were warranted. Secondly, I was offended by the attitude shown by Nanopatent who openly scoffed at board contributors who simply asked him to perform his function. I also believe he has another board on SI which he pays more attention to. That's his business and yours. Lastly, I recommended to members that they place persons on ignore who engage in the above tactics and and I can't see what rules that violates. Right now you are allowing a handful of people to treat IHub like Raging Bull and if that's what you like then good for you.
One Final Thought
The market is going through a long-overdue correction. There are a number of factors causing this which may or may not affect the fortunes of smaller companies like PLNI. Hopefully, the Fed will be able to reign in inflation and we will get some relief in oil prices, otherwise it might just be wishful thinking to believe that we will have a summer rally this year.
People are still fishing around for good small and micro cap investments and if PLNI were to submit audited financials to the SEC and be re-admitted to the OTCBB we might have our own mini-bull market this summer.
This Was Posted Over on RB:
Which means it is open to both suspicion and question. Jim Stop Loss, if you're still out there I would love to have you opinion on this.
1) James Turek, SR was paid:
$300,000 plus $100,000 in bonuses for 2002.
$325,000 plus $250,000 in bonuses for 2003.
$350,000 plus $350,000 in bonuses for 2004.
The company had no revenue for the fiscal years of 2002-2004. $700,000 in bonuses paid to the CEO of PLNI for no growth and no increase in assets.
2) $2,139,122 was advanced to Plasticon by the CEO, James Turek. Advancement to be paid with 10% interest. A conflict of interest, the CEO loans money to his own company at an extremely high interest rate. Essentially, "milking the company for all its worth."
3)The "advancement" in money that James Turek, SR loaned to PLNI could be converted to stock. The "advancement" was converted to 758,833,001 in stock, plus $430,299 and $2,139,122 in cash paid. Furthermore, the CEO has used Plasticon for personal gain, a conflict of interest.
4) During the fiscal years of 2003-2004, Plasticon paid for "services" to other James Turek's limited liability companies, TBLU, PCI, and Lexreal. During this time, Plasticon had no revenue, and services rendered to these business was a conflict of interest.
5) Net amount of equipment and molds are in value of $519,043. Losses of over $100 million for the fiscal year 2004-5. 5 Billion in outstanding stock. Analysis: Stock is financing a company that is not growing, but slowly dieing.
Final Analysis: Using stock to pay for promotional campaigns, over 100 million in losses, Unsubstanciated PR's, paid bonues that are larger than net assets, net revenue for 2002-2005 just under $200,000, and James Turek, CEO of Plasticon practicing unethical business and accounting practices reveals that Plasticon International stock is in financial trouble.
I've been on board since 1999 and ADGI/GTEL/GTE has weathered a lot worse than what we faced last week. I did what I allways do: sit tight and wait for it to pass.
Get Ready Guys, It's Coming - A lot of the shorts are allready getting hurt by the recovery in the S/P and you can bet they have something up their sleeve. I wouldn't be surprised if our good friend Seth Jayson digs up some more 4 year old accusations to throw at us.
Glow - Nice going. I am very interested in hearing what he may have to say as I'm sure are the other contributors to this board. We may have started something, or at least I hope so. Keep us all posted.
We LONGS have legal rights also. All of the cases brought so far are nothing more than malicious prosecutions that are damaging this company arbitrarily and causing needless expense for GTE and its shareholders.
I remember a lawyer out here in California named Ed Friedberg who specialized in suing dirtbag lawyers like the ones harrassing us now. I don't know if he still practicing or still alive for that matter but I dug out his phone number and some of you in the Sacramento area might want to call him. The number is (916)929-9060. I remember when I saw Ed on 60 minutes several years ago and I was impressed with him.
Those of you who live in other areas might check and see if there is someone like Mr. Friedberg in your area and recommend him to GTE.
We LONGS have legal rights also. All of the cases brought so far are nothing more than malicious prosecutions that are damaging this company arbitrarily and causing needless expense for GTE and its shareholders.
I remember a lawyer out here in California named Ed Friedberg who specialized in suing dirtbag lawyers like the ones harrassing us now. I don't know if he still practicing or still alive for that matter but I dug out his phone number and some of you in the Sacramento area might want to call him. The number is (916)929-9060. I remember when I saw Ed on 60 minutes several years ago and I was impressed with him.
Those of you who live in other areas might check and see if there is someone like Mr. Friedberg in your area and recommend him to GTE.
Eliot Spitzer has made a big name for himself going after corporate criminals and I think it's time he started going after unethical lawfirms who are abusing our legal system as well as interfering with legitimate business operations of our company and others. Who ever heard of filing a lawsuit AND THEN ASKING PLAINTIFFS TO COME FORWARD. It's absurd on the face of it. Those of you who live in New York might try calling his office to protest what is being done here.
Low - What do you think is the liklihood that AMEX will stop trading in GTE until this mess is straightened out one way or the other?
This could also be a case of extremely bad timing for GTE since the SEC recent announced that it was beefing up its enforcement activities due to a rash of complaints about "laxness" on their part. I hope it doesn't work out that they make an example of GTE.
We Really Don't Need A Moderator
I've done here what I have had to do on un-moderated boards like RB which is simply to put people on IGNORE who do the following:
1. Outright bashing(and we all know what that is.)
2. Personal attacks(against me or anyone else)
3. Muliple posting on a regular basis.
Item 1 really needs no explanation. As far as personal attacks are concerned the only justification is to expose someone who is a clever basher, otherwise they just waste board space. Number 3 discourages people from making thoughtful posts because they are quickly lost in the flood of meaningless posts that appear.
If you follow the above method you will find this or any other board a place where you can have a dialog with people whose opinions interest you and who have something to say.
Not So Silent Scream - I'm about ready to start screaming about these short traders and others trying to make a fast buck at our expense. I'm also ready to start screaming at our lawyers who seem unable to cope with these phony malicious prosecutions going on against us and most of all, to scream at Tim Huff for believing some two-bit Russian hustler with $369 in the bank.
I should hope that by this time next week we will have seen a positive first quarter report and the beginning of an intelligent counter-offensive against this cabal of parasites that have been feeding off of us for the past few months.
Nano - Your post to me really doesn't make a lot of sense since my comments weren't really directed at you in the first place. As far as any "crying" is concerned I seem to recall a number of posters complaining within the last week about what you permit on this board and I'm not going to go into it unless you request that I do. I wouldn't know how to go about replacing you as board moderator and I really don't see the necessity of doing so if you are willing to take a few simple steps to clean up the situation. I stand by what I said to JSL and I think the treatment he received here was lousy and if he stops posting it will be a loss for all concerned.
Jim Stop Loss - I don't blame you for feeling the way that you do after all of the pointless and stupid attacks that were leveled against you on this board. The moderator refuses to enforce any kind of discipline and as a result we have this gaggle of bashers and other airheads posting here. As I said in my previous post you can contact me at fynley@yahoo.com or post to my board on Yahoo:
http://finance.groups.yahoo.com/group/GTEInvestors/
I would be very interested to hear your comments on the latest financial releases.
Probe - Did it look like they had a full shift working or were there just a few people around?
Jim Stop Loss - Haven't seen anything from you lately. In case you don't want to post here you can contact me at my board:
http://finance.groups.yahoo.com/group/GTEInvestors/, or send me an email at: fynley@yahoo.com. I'd be very interested in hearing what your take is on the Wicklund release. I'm reserving my opinion until I hear from you.
Heading North On High Volume - At 1 PM PLNI was up on 30M volume. It seems that there is a lot of anticipation of news here.
Jim - Have you read the latest release from PLNI. I haven't had a chance to look it over yet but I'm allready hearing some encouraging comments.