Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Looks like someone just dumped 25 million shares. Oh sorry, that would be over 1250 of the new shares, just as worthless as the old pre-split shares, oh sorry again, worth about one-tenth now as compared to the lowest value of the old shares.
Just don't tell them what you are doing, or they're liable to quickly issue themselves 100,000 shares as "compensation"
It is just a historical curiosity until proven otherwise.
Average down? Why would anyone want to buy shares in a company where the board of directors totally failed in their fiduciary responsibility to protect their shareholders? These clowns are looking at legal liabilities that far exceed their larcenous proclivities.
What is interesting to this long-term holder of PLFM is that I can follow these new miscreants just as easily as before; nothing goes away in the age of social media and I'm sure that there will be others following Moore and Cheung for many years, looking for our pound of flesh. Fiduciary responsibility can be a heavy load to bear when there are those watching every move for a mistake. Have a nice day.
I don't think it has been pointed out -- or I missed it -- that in the Nutripy crowdfunding document from 2017 it was revealed that the CEO, Jeffrey Moore, has sunk over $300,000 of his own money into getting Nutripy up to where it is now. A CEO who spends HIS OWN MONEY in developing his company is someone I would have a lot of trust and faith in and a welcome sign of long-term thinking, unlike that given to PLFM from the scammer Bill Schaefer, former CEO of PLFM.
Higher high, higher low, higher close. Yeehaw!
FYI - I have heard from a friend of mine that the Transfer Agent is frozen and will not and can not enact any stock transfer clearances on Platforms. This is because Platforms has an outstanding bill with Corporate Stock Transfer in Denver and Platforms new management has not contacted CST to pay the existing bill, and hasn't replied to any of the Transfer Agents calls. It would be rather hard for Platforms to do any new stock issuance or enact a reverse split with a frozen transfer agent. The outstanding bill was left over from everyone's good buddy and scammer, Bill Schaeffer.
Maybe nobody knows what to do with this. What a surprise (sarcasm).
Only about 138 million shares today on the bid.
50,000,000 @ .0001
My biggest concern is how much of that aging NOL is usable, and what changes in tax law might impair usability for new owners post-merge. But a raw value of .0075 per share is huge. This "worthless" shell could be very valuable from a tax standpoint. That's why I simply used a 50% discount to come up with a value 10 times the current price. A viable merger candidate should be made aware of this hidden value.
Someone check my math: a $72 million NOL divided by 2 billion shares times 21% (the current corporate tax rate) is .0075 per share ??? How is that possible? Even at a 50% discount that is about 10 times the current price??? WTF? I know I'm getting old, but that makes no sense to me.
Wow, I was off by $3 million, but it was in 2013 that they were talking about a $72 million NOL. I wonder if it is still worth something, meaning is it usable. We need a CPA or tax attorney for an opinion.
As a 18 year veteran of this stock I would like to point out that according to last AUDITED financials, which was many years ago, PLFM had a $75 million net operating loss which is a valuable tax-loss carry-forward. I don't remember when that was (2008?) because I don't have any of the old copies of my notes when this was publicized in a PR. The PR may have been before the time Bill Schaefer got involved, but I remember that he was brought in to find a merger candidate for PLFM so they could take advantage of that valuable NOL. Even though Travelmix was announced as a completed merger and they even put out (fraudulent) 10Q's and a 10K, I never saw any audited financials reflecting the use of the $75 million NOL. So if the potential merged company ever goes back to Faber & Haas, the CPA's who did all of PLFM's auditing, they may be able to use some or all of that NOL. PLFM is not just a shell, it's a shell with a big NOL that MAY still be of use. However, I am not a CPA, so I don't know tax law or if the NOL is still usable in a merger.
That's a good one, there was no reverse split last year. Just because they filed the paperwork with the NV Sec of State doesn't mean that it was effective with FINRA. I checked with a friend and she still has the same number of shares in her account as she has had for years.
That's what filing fraudulent 10q's will do to ya.
The news is most likely to be some well-deserved legal trouble for filing fraudulent financial statements.
Bill S. needs to lay low so he doesn't get charged for filing a false 10k and multiple 10Q's!
I heard that the SEC and FINRA were blocking the r/s because of the questionable dealings that occurred when the "merger" was consummated and then cancelled after filing the 10K and 10q's indicating that it was a done deal.
File complaints with the SEC because they filed 10q's and a 10K showing a completed merger. This is fraud, plain and simple. You just don't get to say "Deal off" a year afterwards, what a fool. See if the worthless tools at the SEC will do anything.
This company is like Oakland, there is no there there.
It is a dead shell, where the principals should have been prosecuted but the SEC is worthless.
Outstanding Shares 2,062,613,362 a/o May 16, 2017, verified by transfer agent according to otcmarkets.com
Yes, the operative word here is cheat.
Its obvious from todays $2 trade that you all should gather every dollar you can scrape up and buy $10 worth on Monday and send this TO THE MOON!!! (sarcasm)
Since the transfer agent isn't talking anymore we don't have a way of knowing what got issued. TA's will always communicate unless there is a problem.
Doesn't look like this last pump is working. Fraudsters still stuck with millions of shares to unload.
The company has missed filing two 10Q's since those old numbers came out, since then they issued hundreds of millions of shares to their cronies and flooded the market. This is dead thanks to Bill Schaeffer.
Boom. No Inside Bid. Meaning bid is zero.
Trade potential? This company is just scamming potential buyers into thinking that YOU can profit from a pop in the price when all they are doing is selling into every move with their FREE shares for FREE money to put in their pockets.
Below is a copy of a complaint filed with the SEC:
This complaint concerns Platforms Wireless International Corporation (PLFM, CUSIP 72765A-10-1).
There are discrepancies and errors in the most recent SEC filing, the 10K annual report for the fiscal year ended June 30, 2016.
ONE: On page 2 of the 10K, under ITEM 3 SECURITY INFORMATION, it states that the number of shares issued and outstanding is 1,162,613,362 and then on page 4, under ISSUANCE HISTORY it states that “The company has not executed any securities offering, either public or private, and has not had any in the past five years.”. But on the 10Q form filed on May 18, 2016, the issued and outstanding is stated as 1,112,613,362 shares, a 50,000,000 share difference between the March 31, 2016 and June 30, 2016 filings. By their own filings, the ISSUANCE HISTORY statement in the 10K is materially false.
TWO: The Balance Sheet section in the 10K is rife with false statements. On page 2 of the 10K it states that the authorized is 2,400,000,000 shares, contradicting the Balance Sheet statement of 1,200,000,000. The Balance Sheet issued and outstanding amounts are obviously false, based upon section ONE above (i.e., using an incorrect number of shares). The amount listed for 2015 Stockholders Equity is false, since it is based on the false number of shares issued and outstanding. This error then is propagated throughout the remaining Balance Sheet figures, rendering them all false. The Statement of Stockholders Equity on page 8 is obviously false for the same reasons for 6/30/12, 6/30/13, 6/30/14, and 6/30/15 because they all use the same incorrect number of shares.
THREE: On page 10, ITEM 6. DESCRIBE THE ISSUER’S BUSINESS, PRODUCTS AND SERVICES there is at least one false statement. Under section A. DESCRIPTION OF ISSUER’S BUSINESS OPERATIONS it states
“The Company Travel Mix Group. – (Travelmix.ca - Travelmix.com). Is a Canadian based online travel Agency with sales/marketing offices throughout Canada and Affiliates in Las Vegas, USA. Which provides Canadian, American and International travelers with all possible travel related services online via World Wide Web and also telephone travel agents.
Travel Mix offers real time bookings and reservations on packaged vacations. Our web-site has travel related helpful information links and all the necessary travel related content with air tickets, last minute deals, car rentals, hotel reservations, cruises, travel insurance, tickets, attractions and more.”
But on the same page, section E. PRICIPAL PRODUCTS OR SERVICES AND THEIR MARKETS it states
“The Company focuses its efforts on acquisition and development of various alternative and exotic energy products to the general public. The Company is actively pursuing development and testing of various energy products and expects to secure products for manufacture and marketing in the near future. Because of management expertise and business alliances the Company expects to succeed in future ventures in growth industries with vast potential within the domestic U.S. market.”
The 10K thus offers two completely different statements on what the company is doing.
FOUR: On page 11, Boris Golan is listed as CEO and Director, and Bill Schaefer is listed as President and Director. But then on page 13, Boris Golan creates a conflict when he signs the CERTIFICATIONS item of the 10K on August 10, 2016 as President.
FIVE: Pump and Dump aspects. Since June 30, 2016, an additional 809,500,000 shares, or an increase of over 69% of newly issued shares has been revealed by the Transfer Agent. Based on the mistake-ridden 10K, trading volume in the past few months after the 10K has exploded to over 450 million shares, or about ¼ of all the issued and outstanding shares and 100% of float. The price of the stock quadrupled, only to collapse back to a level lower than before the filing of the error-filled 10K. There have been no press releases or news from the company since April, only the required 10Q and 10K, which contain false statements.
SIX: The March 31, 2016 10Q filing does have a Balance Sheet that uses the correct number of shares (as reported), but the 10K filing uses a Balance Sheet that had to be re-engineered to reflect the correct number of additional newly issued shares, which was then ignored for issuance history.
That float number of 450 million shares is out of date data, before management issued hundreds of millions of shares after the 10K to their buddies and ripped the shareholders off.
What we know is that complaints have been made to the SEC.
Looks like someone needed that $5.50 today.
It's always a good week when no one else buys any stock and enriches the fraudsters running this pump and dump. How long before the SEC goes public and confirms an investigation?
It is quite humorous to read all the pumper posts here. Nothing has changed; all the numbers quoted are old numbers, they failed to file the last 10Q due November 15th, 2016, its almost time for the NEXT missing 10Q. They haven't paid their OTCMarkets fees, or Business License fees due to Nevada Sec of State (it does say DEFAULT) that were due six weeks ago. If those numbers were real then they would have a real business and they could and would pay their fees. This is now a shell POS run for the benefit of management to dump their shares onto suckers falling for their lies.
Chances are very good that they will never pay the fees and that this will simply die from neglect because they can't dump any more stock as long as the bid is zero.
No trades in the past 6 sessions, so no one got fleeced.
Platforms Intl Corp was the original name when in was incorporated way back some 20 years ago.
The merger was finalized in Dec 2015, over a year ago, and multiple 10Q's and the 10K were filed reflecting the completed merger.