Shorts, that's still all old news. Turek had a shell company that he called Wickuand Oil, then Wicklund Holding and then Plasticon International. Up until these last financials, all he filed were informational 8Ks and his stock registration. Now, he is dealing with a far greater power, the SEC. He is filing public financials for the first time. That's new. He has a saleable product that he sells in two companies that I know of. He has a national sales agreement with a company that trades on the boards at $12.00 who has the ability to help this company grow.
I don't disagree with your statements about previously released PRs. I also saw his expenditure report from the bankruptcy and I wish I could live so well. BUT, I also saw him transfer almost %6 million to PLNI from one of his other companies. If I had $6 million lying around, I could probably live a lot better than I do. I have no idea of how much money JT has in his LLC or his other corporations. I wish I did know.
Shorts, the worst thing I see happening if the comppany doesn't become profitable with some additional dilution, would be the sale of the entire group. I think that, at this stage, bankruptcy would be a very poor choice over liquidation. He now has a saleable business underway. That might not be all that bad for shareholders.
I stand by my statement that Wicklund Holding was a shell corporation (by SEC definition) until Turek started buying up the plastics rights and consolidated two companies into the new PLNI.
At this time, it's public knowledge that the SEC is conducting an informal investigation of PLNI. At this time, PLNI is not a registered SEC corporation.
FROM THE SEC in answer to my inquiry received June 23, 2006:
Thank you for contacting the SEC.
Plasticon International is not a SEC registrant.
I hope you find this information helpful.
Sincerely,
RINELL RANDOLPH JR
Attorney
U.S. Securities and Exchange Commission
100 F St, NE
Washington, DC 20549-0213
(202)551-6321
This might have something to do with the investigation. I don't really know. I know that PLNI has met 2 requirements that would necessitate registration but I don't believe that the net assets of the comapny are $20 million or more. Right now, they are negative.
Anyway shorts, some of your points have always been valid but alluding to Turek's thoughts as factual knowledge isn't too cool. That's "out-of-context" stuff put together to make a point that may or may not be correct.
As I said to Capn, I would love to read some new information from you that you find somewhere that has yet to be discovered. Jumping on one of my thoughts and countering with well worn info also isn't cool. Does no good except , maybe, gets some of your frustration out at the expense of others who really want to get good documented new info.
I bought back into PLNI because I think that the PPS is about at the bottom and I am looking for the next release of quarterly statements to make a buck. I'm in at .0025 and would sell at .003 if it doesn't look like the PPS would go higher. Then, back in again if it drops and the MMs start trading at an .0001 spread for more than a half day.
So shorts, have a nice day and I hope that you do find some revolutionary new info and share it with me and whomever else would be interested. If nothing else, you've given me a lot of chuckles over the past year. I would really like to visit where you are. I've been in Europe but never the eastern part. Germany, Spain, Italy, Greece, etc. I would like to live in Germany. Just too old to start over.
Best of everything to you.
Jim
