Plasticon International, Inc. (fka PLNIQ)

[fynley]

My Decision Is Based On The Following:

1. Turek's record of failing to deliver on past promises concerning reporting.
2. He has never fulfilled the obligations of a CEO to inform the stockholders regarding important company matters and even now in the current crisis is simply leaving us hanging.
3. The massive dilution he used to finance the Pro Mold and Semco acquisitions was irresponsible and was done arbitrarily without any consideration for the shareholders and was also done while he was promising a buyback of shares.

Also, in my own personal experience I have never seen a reverse split or share "exchange" situation that did anything other than destroy what little equity shareholders possessed, especially coming after a massive dilution. Likewise I saw no promise that PLNI would give a "no dilution" promises to us after we accept these preferred shares.
I'm not a lawyer or an accountant and I certainly don't know how this Chapter 11 situation is going to pan out but I'm not buying ANY promises at this point.