Well I've said for a long time that the toxic death spiral financing PLSB has done and appears to continue to do does more harm than good for the shareholder. Companies file NTs when they have issues and any reasonable person would have or could have expected PLSB to anticipate this issues. While the previous comment goes into great detail and adds several unmentioned info in filing, 10Qs are not audited numbers so it begs to wonder why they would need additional time for valuations. Figuring out total share counts and how it relates to unaudited numbers is somewhat concerning. However, it could happen if the company has been issuing toxic debt at a much more rapid pace than previously thought or the accounting firm refused to accept PLSB internal accounting to attach their name to the filing. Remember if the auditors stamp off and issues arise, they can be held accountable. It may also be due to the issue of rapid conversions and liquidation of toxic debt because they saw the potential of late or no filing which would have eliminated the 144 exemption. The toxic debt financiers were able to convert at .00845 so they did make a boat load of cash selling the shares at double, triple, quadruple-- up to 7x, which is pretty darn good. The issues come into play further if there is no filing of the Q and the144 is eliminated, doubt PLSB would get any financing of that was the case or triggers for default set off. Correct me if I'm wrong but everything is pledged do n to the pencils on Yates desk. They probably do not want anyone to see the real OS and the state and amount of debt left on books. Some will have you believe it's no issue but the facts keep playing out into reality. Now PLSB has until Monday. I would think if everything was rose with sales and pay down of debt they would have wanted that news out asap. Gift all you want, it if they can't borrow more they won't be able to make product to sell and keep the game alive. There may not be much selling from converts for the short time til the Q comes out (if it does) but buying under these circumstances is even worse. Good night and good luck
