Replies to post #21181 on Plasticon International, Inc. (fka PLNIQ)

[DTL]

I thought that beneficial number looked familiar and yet I posted elsewhere that I was surprised by it. I thought that was suppose to go away and get listed elsewhere in the audited version?????

[pappi]

thanks for the work. i scanned the data and thought, well, i'm down 94%. things can't get worse :-) . it is good to see the filing.

[eyeamgame]

Although I did not work out the percentages, I did notice the same things.
This is not a bad report. The only problem is the issuance itself.
Not only is it significant but it does raise the possibility of further issuances to the primary shareholder.


Those type of issuances are deadly to common investors.

On the plus side, we have a lot going for us but we need a banner year.
New contracts, marketing, distributors etc.
I really like this new DOT hwys overpass project. It is the first of its kind in a gargantuan market if it becomes common place.

Hopefully a flurry of financial reportings to bring us up to date soon.

[avdave]

Sorry if it has taken 2 days to draw my own conclusions (as you suggested be done in your post).

You did make some interesting observations from the Q1 which also incuded the fact, correctly I might add, that the beneficial interest expense of $8.6 million for stock issueance is just a bookkeeping entry and not an actual operating expense expense.

The summary of your well explained observations were that 1) Net operating expenses decreased by 14%. 2) Decrease in loss from operations was nearly 30% and 3) Actual net loss decreased 26%.

I would like to offer a similar observation to the Q1 filing upon your suggestion to draw my own conclusions, as well as being on the same page as you and agreeing that the beneficial interest expense for stock issuance not be considered in the operational performance analysis.

The only point where your observations and mine will differ is that I will also not include the beneficial interest expense for stock issuance for the compared quarter of '05 as well as '06.

You've already done the heavy lifting and deducted the $8,679,000 bookkeeping charges for stock issuance during Q1 '06 and came up with $2,146,110 for operating expenses, $1,701,414 for loss from operations and $1,852,591 for actual net loss.

To compare year to year numbers accurately, I will deduct the $1,923,000 bookkeeping charge for stock issuance during Q1 '05. This results in operating expense of $570,933, loss from operations of $491,073 and actual net loss of $584,552.

The conclusions I drew were that net operating expense increased 375%, loss from operations increased 346% and actual net loss increased 317%.

Everyone should draw their own conclusions.