Here too Capn, we see the "turning the corner" and "on the way" to making profits and growth. Future looking statements.
That's what I see actually happening in quarter one statements. They are doing that according to the reporting.
I have posted previously that I personally didn't expect PLNI to be profitable this year and that I was looking for a smaller loss. I think it would be unrealistic to expect much more.
In the meantime, PLNI will need operating capital. From whence cometh this capital? From dilution or an influx of personal cash from Turek.
As far as the statement about the going concern, as I said before, it's a standard thing in all financials to protect the reporting company as allowed by the SEC. The wording is different but most start-up companies use similar wording. I remember the first DD I did on a company when I first started trading and I read that part and wondered, who would invest in any company that would make that kind of statement. The company was KANA. They have been through some very rough times:
Excerpt from their 10K YE 2005:
Since becoming a publicly traded security listed on The NASDAQ National Market
in September 1999, our common stock has reached a sales price high of $1,698.10
per share and a sales price low of $0.65 per share. On October 17, 2005, our
common stock was delisted from The NASDAQ National Market due to the failure to
file our Quarterly Report on Form 10-Q for the quarter ended March 31, 2005.
Since October 17, 2005, our common stock has been traded on the ?Pink Sheets.?
The last reported sale price of our shares on May 31, 2006 was $1.90 per share.
They are currently at $2.10. If you look at their forward looking statement from 2005, you would still wonder, given the warnings that could cause their business to be damaged, who would possibly buy. But they still trade and they issue new shares and they are still around. Aren't you glad you didn't buy in at the top?
This company did about the same thing that PLNI did and the initial start-up was a big PR that was heard all across Wall Street. Just like we see in PLNI except JT used local or smaller PR firms because of the cost.
Maybe someone who is interested in history can write an e-mail to JT and ask him what he meant about being profitable in 2005. For me, I'll take today and the financials and the laws that he is under when he publishes them. Of note might be the care taken in the production of the financials with the detail and references. I feel sure that the published works from PLNI will be done with utmost caution.
Business first, stockholders hang on for the ride.
That's business; that's the market.
