Impeccable Timing?
During the fourth quarter 2006, the Company identified $720,000 in term debt that was incurred in 2005. The funds from the borrowings were deposited with LexReal. These loans were recorded with a counter offset to loans due to LexReal. The loans have been called, requiring the Company to provide 270,296,888 of common shares to terminate the notes. On October 29, 2006, the shares were issued at a cost of $162,178. The Company is in the process of investigating the impact on prior year’s financial statements and will make the necessary entries in completing the 2006 year-end accounting.
Impeccable Timing Indeed.
LEXINGTON, KY--(MARKET WIRE)--Oct 30, 2006 -- Plasticon International, Inc. (Other OTC:PLNI.PK - News) announced today that the company's wholly owned subsidiary, SEMCO Manufacturing, Inc. has been selected for the West Charleston Lofts project in Las Vegas, Nevada. The first element of the project has been awarded in the amount of $150,000 and work is progressing on the first 45 units for a total estimated value of $852,000.
LEXINGTON, KY--(MARKET WIRE)--Oct 31, 2006 -- Plasticon International, Inc. (Other OTC:PLNI.PK - News) is pleased to announce that the Nevada Department of Transportation has awarded Semco Distribution, Inc., a subsidiary of the Company, a $241,850 contract for the surfacing of the concrete embankment at the I-515 Beltway Interchange in Nevada.
There's nothing to see here.. Turn around.. Nothing to see at all.
