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More on PLNI from Green Baron

Monday, May 29, 2006

Special Updates

Plasticon Intl. (PK: PLNI)

Plasticon Files Un-audited Year 2005 and First Quarter 2006 Financials on PinkSheets.com

Latest filings indicate PLNI will regain listing on PinkSheets.com and emerge from quiet period

In our last major update on PLNI on May 10, we urged our members to have “just a little more patience, and we believe the reward will be worth the wait”. We understand that the past several weeks have been frustrating as PLNI has tested lows at about .0037 per share, a level not seen since last December. The closing price of .004 per share on Friday, May 26 may very well be the lowest price we see again on PLNI stock.

In a press release issued on May 8, 2006, CEO Jim Turek stated, “In the coming days and weeks, the Company will be making additional financial information available to its shareholders and the public, which will include un-audited financial statements for the first quarter of 2006. These numbers will clearly show a dramatic turnaround in the sales and earnings of the Company and demonstrate unmistakably that the Company has turned the corner has now begun the initial stages of its growth years.” It took less than three weeks for PLNI to deliver on this statement, and The Green Baron Report believes Plasticon and CEO Jim Turek are ready turn up the fire.

Revenues for the first quarter of 2006 did, in fact, show that Plasticon has turned the corner. The Company recorded over $1.83 million in revenue in just three months, a revenue number that trumps any other revenue figure reported by Plasticon. The spark in growth indicates to The Green Baron Report that Plasticon is indeed for real, and we are likely seeing just the embryonic stages of a huge growth story. The 17-page unaudited first quarter numbers can now be viewed at https://www.otcstockinfo.com/repository/671/671_FR12.pdf.

The last time Plasticon resurrected itself from a trading level similar to recent weeks was last December. During the month of January 2006, PLNI stock rallied from about .0036 per share to as high as .0109 per share. The Company was criticized for over reporting its contracts and business plans prior to producing financial reports. In the beginning of February, PinkSheets.com would no longer list PLNI stock unless it filed unaudited financials all the way to its most recent quarter and answer a long list of questions. PLNI stock has suffered while it focused on getting all these reports completed and held off from announcing deal flow.

Although a final approved audit of year 2005 numbers will be necessary before PLNI can apply for a Bulletin Board listing, we believe the un-audited filings will now give Plasticon the ability to explain its tremendous growth story. In the coming weeks, The Green Baron Report plans to conduct at least one exclusive Green Baron Webcast interview with Plasticon. We are intent on making the company answer our questions, many of which have come directly from our loyal readers.

(post by patd100)