Plasticon International, Inc. (fka PLNIQ)

[rrm_bcnu]

sekrah

"Show me where PLNI stated the "subscribed price" of any of the deals.."

OK

If you go back to the filings you can see that as of 31 December 2004 the number of Subscribed-Not Issued (SNI) was zero. As of the end of the 1st quarter 2005, 31 March 2005, there had been 199,464,884 shares SNI at Fair Value of .01107 per share or $2,209,074.
http://www.sec.gov/Archives/edgar/data/318262/000133118606000072/plni21q05.htm page F-1

The SNI did not change for two quarters, and as of the end of the 3rd quarter 2005, 30 September 2005, it remained 199,464,884 shares SNI at Fair Value PPS of .01107 per share or $2,209,074.
http://www.sec.gov/Archives/edgar/data/318262/000133118606000076/plni310q05.htm page F-3

In the 4th quarter, and as of 31 December 2005, the shares SNI had increased (apparently to liquidate a lot of debt as described in the filing) by $1,826,465 and an unlisted number of shares SNI, to a total of $4,160,539 and an unknown number (but at least 199,464,884) of shares SNI.
http://www.sec.gov/Archives/edgar/data/318262/000133118606000105/plni0510k5.htm page F-5
The fair value PPS for this second subscription is unknown based on the information in the filing.

The 1st quarter of 2006 resulted in an additional $3,193,760 in a third and fourth subscription of shares SNI at an unknown Fair Value price. As of 31 March 2006 the shares SNI was $7,354,299, the number of shares was not reported but consisted of at least 199,464,884 from subscription one, an unknown number in subscription two, and a further unknown number in subscriptions three and four.
http://www.sec.gov/Archives/edgar/data/318262/000133118607000032/plni110qsb064.htm page 4

During the second quarter 2006, $225,000 of subscribed common shares were actually issued related to the acquisitions of Pro Mold and SEMCO, and the total number of shares SNI was reduced to $7,129,299 and consisted of an unknown number of shares SNI, but at least 199,464,884 from subscription one, an unknown number in subscription two, and a further unknown number in subscriptions three and four.
http://www.sec.gov/Archives/edgar/data/318262/000101968707000646/plasticon_10qsb-063006.htm page F-4

To consider this as a single subscription and conversion price just doesnt track with the reported facts. The trail of subscriptions, which are clearly pointed out must contain a fixed number of shares at a fixed PPS on the date of subscription, as so stated in the example shown in this link,
http://www.allbusiness.com/business-finance/equity-funding-private-equity/206-1.html
is not a single issuance, but at least four (and possibly more) subscriptions each having a number of shares and fixed PPS. The new offering of .00011 is certainly a lot less that the first subscription price of .01107 for those 199,464,884 shares, and probably so for the remaining shares.

Do your homework before blowing off on this board please.