Replies to post #304 on Platinum Research Organization, Inc.(fka PLROQ)

[micemahn]

Thanks for sharing.

[charcotman]

Thank you for your work

I hope this means good news ahead. Did they answer you by e-mail or phone?

[Snifflet]

Thanks for sharing the update.

Can you also let us know if the person you managed to get the response from is from the current IR team? If so, his candour on the inadequacy of his organisation is truly surprising.

If he is not from the current IR team, is he from the incoming IR team? If so, is having 2 IR teams serving the company at the same time a normal practice?

Or perhaps he's not from the IR team(s). If so, did he say where he is in the organisation?

Thanks for clarifying.

[speckulater]

More Questions, Not Answers


Finally, some kind of a response from the Company, and it raise more questions than it answers. From the Company's own lips:

"1. It is my understanding that IR company is likely to be replaced by a much more sophisticated NY based IR firm that is perceived to be better positioned to represent the company to investors, particularly sophisticated financial institutions, through the company's next round of capital raising".

Ouch. Sounds like more Dilution is on the way. "through the company's next round of capital raising", how many more rounds of capital raising are there? They have little money, so how will they raise Capital? The answer is probably in the above paragraph. Even if they avoid Toxic Financing, how many more shares will be issued? Just be aware that there are already over 102 Million shares Outstanding (on a fully diluted basis), as the Preferred shares are each convertible into 5 shares of the Common stock.

Also, directly from PLRO:

"and definitive 14a is expected to be filed contemporaneous or just subsequent to ongoing disclosure filing. Once definitive is SEC approved, meeting will occur 5 days later, as per disclosure in interim 14a. All normal procedural stuff".

Normal procedure? Why was this whole Merger Agreement not completed and finalized 4 1/2 months ago when PLRO began trading publicly? Instead they leave investors hanging, with a Termination date looming. The CEO of North Tech is still the majority stockholder in this company!!

So, the March 1 Meeting never happened, or was for naught? What about the shareholders who went to the Meeting, took time off work, incurred travel and hotel expenses, all for nothing? The Company never even publicly announces such? Now, there has to be another definitive 14a filed? a financial disclosure and audit filed? the 14a approved by the SEC? Another Meeting? Another vote? What a quagmire!

The 8K that states "The Second Amending Agreement extends of the Outside Date of the Contribution Agreement to April 15, 2007, at which time the Contribution Agreement automatically terminates".

A month away, they have 21 business days to complete this mess.

http://www.investorshub.com/boards/read_msg.asp?message_id=17881566

IMHO

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