You sure this time? j/k Chopper. Thanks.
Posted by TheCreator on :
31,000,000 net loss, nice.
Posted by stockforfun on :
I hope PLNI will go up ! I am sitting for long time. Posted by TickTrader on :
Chopper, you da man, all over again. 47 pages... I plan to read each and every one of them. From page 3...
ProMold, Inc & SEMCO, are both recently acquired. The operations from Pro Mold and SEMCO will be included in the operating results of the Company starting January 1, 2006, pending SEC filings Posted by will on :
This is more eye catching :
Outstanding Shares: 3,727,740,100 as of 2006-01-31
Now according to the financial report : 4,977,740,339.
Revenue $170,809 ? I'm sure shareholders expected that to be much LARGER.
Posted by Bearclaw on :
Hey Will... Take a break for several days while we load up our bank accounts...give it a rest..
The float is 2,165,000,000 and it should all be pop corn over the next couple weeks as all the folks that have been waiting for this stock jump in tomorrow...
Load up, guys...more PR's to come...The 211 filing asssures everything else pertinant to PLNI will start to be released...This company is now fully reporting status...Hang on tight boys this is a company that's going to make money...big time..
Hey Chopper...This morning must have been practice ...right day wrong hour...Thanks man..you made my night...actually my week+
Posted by will on :
"The float is 2,165,000,000 and it should all be pop corn over the next couple weeks as all the folks that have been waiting for this stock jump in tomorrow"
Float: 2,304,576,805 as of 2006-01-31 (from pinksheets Company Info page)
O/S increased and the float went down ?
Does publishing unaudited finacials constitute fully reporting status?
Posted by Bearclaw on :
Will...
You can't file a 211 without being fully reporting...The 10K should follow shortly...then Semco financials then Promold financials... That's why folks will be jumping in tomorrow... I got fully in last week so getting in is not an issue with me...
I'm just wondering how quick information will continue to be released....No telling how long or how far this could run if they time it right...
This doesn't even factor in the contracts they've been awarded...We're just talking financials for now...
Time to hit the sack...see folks in the A.M.
Does publishing unaudited finacials constitute fully reporting status?
Posted by TickTrader on :
OK, I read it... explains a lot. Everyone in on this should read it and others to follow.
ugly and beautiful, always has been my impression of the company. Already got more shares today, need to sell sumpin' to get more.
The last time I saw such tragedy of errors/events was with ADVC (made bank+ on that). When in doubt, trust a company that holds a man's heart, soul, and money.
Thanks again, Chopper. I checked to make sure it wasn't April 1st before I clicked.
Posted by BuyTex on :
211--seems clear to me the regs should be here, on-board, for handy reference. Affects too many situations, without being "common knowledge."
Posted by successinstock on :
thanks for starting the thread chop....i like your title better than mine.....
all i can say is FINALLY....
looking forward to tomorrow....i'll buy on the dip <g>
Posted by successinstock on :
this info has hit the shorts hard....no leak no nothing....
what a perfect ending to a sh&tty day.
8)
Posted by Bearclaw on :
Hey Success... I'm with you buddy...
They'll send their army af bash holes tonight and tomorrow trying to hold her down...This should be a fun week...Other than making bank there should be lots of laughs on the ****s for light entertainment...
Now I got to hit the sack...to darn much adreneline to sleep...
quote:Originally posted by successinstock: this info has hit the shorts hard....no leak no nothing....
what a perfect ending to a sh&tty day.
8)
Posted by Chopper on :
Congratulations all longs and those getting in!
It seemed like a long and arduous wait and not without the loss of a few fellow longs but the patience has and will be rewarded.
Your most welcome fellow Plasticonians for the new thread and please excuse the early jump on it this morning. But it sure was a fun practice run.
Get em while you can cause JT is about to Get er Done!!!! Posted by stockforfun on :
I can't wait for tommorow !!!
Posted by Chopper on :
Information on the form 15c2-11. Should answer some folks questions here.
Form 15c2-11:
Market Makers must complete this form to initiate or resume quotations in the OTC Bulletin Board ® Service, the NQB "Pink Sheets®," or any other comparable quotation medium. By completing this form, a market maker is representing that it has satisfied all applicable requirements of Securities and Exchange Commission (SEC) Rule 15c2-11 and the filing and information requirements of NASD Rule 6740. It is not necessary to file this application if an exemption applies.
Posted by Bearclaw on :
Hey Chopper...
Thought you were tired man hahahahaha...The fuse is lit...boosters ready to fire...Overall financials look good...Semco and Promold yet to report and I understand they're terrific financials...How many contract announcements have those two companies been holding for PLNI while all this has been sorted out...
Congratulations to all of you that stuck it out...This is the fun part that makes the wait worth it...Enjoy...
I suspect the pros will start buying at open and covering...The future is clear to them hahahahaha
Posted by successinstock on :
this should start the onslaught of PR's that they have been putting together....should not be a one hit wonder tomorrow...imo
Posted by DQ. on :
Well,well,well, can I believe what I'm seeing. Who wooda thunk it. Guess I'll have to watch PLNI again and see if I can again become a cheerleader! GLTA!
Posted by successinstock on :
for every million shares purchased you get a free set of pom poms.....just kidding....i'm sure a lot of longs are quite relieved that numbers (good,bad or indifferent) have finally been issued.
glty
Posted by beefcake on :
You are crazy if you think it is bad news.
Increasing Assets and decreasing Liabilities sounds pretty good. Turnaround of sales 1st qtr of 06 sounds even better.
They had to increase the a/s because the prefered shares was convertable into common. you will not be able to convert them if there was no shares. Just because he has that much does not mean he can not retire them.
Just look at the last few pages around 35-47 it explains everything
Posted by Stock Jockey on :
successinstock,
Could I just have the Lady Cheerleaders instead!
Nothing like Blonds, Redheads, Brunettes in the abundant form. Lets see.... One for every million ay?
Holy crap I need to buy a BUS! Woohooooo Gooo PLNI!
quote:Originally posted by successinstock: for every million shares purchased you get a free set of pom poms.....just kidding....i'm sure a lot of longs are quite relieved that numbers (good,bad or indifferent) have finally been issued.
glty
Posted by successinstock on :
nite all....gltya tomorrow.
Posted by beefcake on :
Does not get any better than this
Management’s Discussion and Review of Unaudited 2005 Financial Statements The Company wishes to inform its shareholders and the public regarding the 2005 financial statements and the outlook going forward. We would first like to call your attention to the Consolidated Balance Sheet, page 1, regarding Total Assets for 2005, vs. Total Assets for 2004. Regarding the 2005 year-end December 31 st, please note the increase in Assets from $659,549.00 in 2004 to $6,684,730.00 in 2005. This represents an increase of over 1000% in Total Assets. On page 2 of the Consolidated Balance Sheet, regarding Total Liabilities in 2005 vs. Total Liabilities for 2004. Total Liabilities in 2005 were $5,197,620 while Total Liabilities for 2004 were $10,665,501. This represents a reduction of the Total Liabilities from 2004 to 2005 of 52%. The Company’s Assets exceed its liabilities based on current financial reporting, which does not include the SEMCO acquisition or the independent appraisal of the Company’s patents and molds. In addition, the Company has an asset of loss carried forward, in the amount of $12,821,185. This asset will offset future tax liabilities against earned income. On page 3 of the Statement of Operations, regarding loss from operations and net loss, this figure represents a bookkeeping entry according to GAAP (Generally Accepted Accounting Practices) and FASB (Financial Accounting Standards Board practices) called Beneficial Interest Expense. The entry of Beneficial Interest Expense has nothing to do with loss from operations, but is simply a bookkeeping entry of shares issued during the year 2005. This figure represents the issuance of stock and is a direct reflection of that issuance, and not loss from operations or net loss. Please note the decrease in Beneficial Interest from 2004 to 2005 of 57%. Regarding page 3 of the Statement of Operations, basic and diluted loss per common share. Please note the decrease from 2004 to 2005 of .07 to .01 respectively, which represents a decrease in loss per common share of 86%. This trend shows the Company is close to positive earnings per share, and in fact, will show in net positive earnings per share in 2006. The Company is pleased to have completed its unaudited financial statements and posted them on www.pinksheets.com and will shortly hereafter file its fully audited statements with the SEC and post them on www.pinksheets.com as well. In general, as we reflect upon Plasticon’s December 31, 2005 year-end financial statements, every aspect shows positive trends for the Company and we are confident that FY 2006 will be the most positive year for Plasticon International, Inc., in terms of sales and earnings. The Company has begun the second stage in the life of this organization and has commenced its initial growth years with the first quarter of 2006. We base this on two major acquisitions, Pro Mold, Inc. and SEMCO Mfg, Inc., as well as the rollout of our major distribution contract with the nation’s largest distributor of building materials. The first quarter of 2006 has been a dramatic turnaround in sales and earnings for the Company, and this will be reflected in the audited quarterly statements for 2006.
Posted by stockforfun on :
good
Posted by stockforfun on :
ask : .0049 Bid : .0045
Yesterday closed : .0042
8:07am
Posted by Homerunner on :
Plasticon Posts 2005 and 2004 Financial Statements and Disclosure Document on www.pinksheets.com
LEXINGTON, KY, Apr 25, 2006 (MARKET WIRE via COMTEX) -- Plasticon International, Inc. (OTC: PLNI) is pleased to announce that the company has posted unaudited 2005 and 2004 financial statements and a full disclosure statement on www.pinksheets.com, with audited financial statements to follow. Plasticon's financial statements do not include results of operations from the SEMCO Manufacturing and Pro Mold acquisitions and back orders from their exclusive distribution contract with the nation's largest distributor of building materials. Additionally, the financial statements do not reflect patent and mold valuations, which are footnoted in the financial statements. At present, an independent appraisal of the Company's patents and molds is in excess of $20,000,000.00. For more information regarding the independent appraisal, please see supporting documents attached to financial statements.
According to Jim Turek, President and CEO, "The Company is pleased to have made progress with its accounting issues and as we prepare to file audited financial statements with the SEC, Plasticon will now turn its attention to the issue of the share structure of the Company. With that in mind, we have retained legal representation along with logistical support organizations and have begun the process of preparing its SEC filings and subscription agreements in order to proceed with the buy back program. The Company has instructed its legal representation and logistical support organizations that we fully intend to proceed with the buy back program immediately. We expect an announcement regarding the commencement of the buy back to be forthcoming."
Posted by Chopper on :
Nice catch Homerunner, I was so excited about the news I forgot to post it.. LOL Good luck to us all! Posted by TickTrader on :
my forward looking statement... Hope to see PLNI in the dollars, where it belongs.
Posted by mbmaid on :
30,000,000 in losses? I hope many investors shed a blind eye to this. I for one will not be adding. That's brutal.
Posted by bobcat88 on :
Dang, guess I need to dust off these old shares and make 'em look pretty again!
Posted by Buckeye on :
Be prepared to get yelled at MBmaid. I ditto your post, BUT most want to see this run so bad (20-40% possible today) that any posts similar to yours won't be received to well. Hope everyone does well.
Posted by mbmaid on :
Hey, I've been holding this forever. I want to see this do as well as anyone. I just need to be realistic. I hope I'm wrong.
Posted by Bearclaw on :
You are...but that's OK...
quote:Originally posted by mbmaid: Hey, I've been holding this forever. I want to see this do as well as anyone. I just need to be realistic. I hope I'm wrong.
Posted by bobcat88 on :
Pink sheets still dont have their quote listed.
Pink Sheets believes adequate current information must be publicly available during any period that the issuer or affiliates of the issuer are directly or indirectly engaged in promotional activities having the effect of encouraging trading of the issuer's securities in the OTC market. Pink Sheets has observed that such promotional activities are occurring for this security, but that adequate current information may not be available. Consequently, Pink Sheets has removed the quotes from this website until such information is made available by the issuer to the investing community. investors are encouraged to use care and due diligence in their investment decisions.
Posted by Chopper on :
Usually takes 3 business days once financials are listed to get the pink quotes back up Bob. Meerly a formality at this point.
Posted by bobcat88 on :
Figured as much, they are still active on the Plasticon site though.
Posted by stockforfun on :
go up, baby .005
Posted by bobcat88 on :
what are we all in at? I'm sittin on shares at .062
Posted by bobcat88 on :
DOCUMENTATION: INDEPENDENT APPRAISAL OF PLASTICON’S PATENTS AND INJECTION MOLD INVENTORY Based on an independent appraisal (see enclosed documents), the Company’s patents and injection mold inventory are conservatively valued at $20,000,000.00. The enclosed independent appraisal clearly reflects that historically, when patents face a court challenge and those patents are subsequently validated, this in and of itself can increase the value of the patents from 400% to 500%. In addition, if a patent has commercial viability and has in fact demonstrated salability in the marketplace, the value of the patent(s) increase substantially. According to the independent appraisal, Plasticon’s “technology has demonstrated its worth over approximately 10 years of commercial production…The Company’s patents disclose commercially viable new and innovative technology with obvious and demonstrable present and future earning capability.” Therefore, the estimate of $20,000,000.00 in value of patents and injection molds is extremely conservative.
Posted by Bearclaw on :
Up 28% on 54.1 mil traded the first 1/2 hour
Posted by imakmony2005 on :
looking good.
Posted by lukin4winners on :
Nice volume 64M 40 minutes into the day . 50sma .006 first resistance .0054 this should be a good runner. Looks like mm's are taking the first shake here but it will be hard to hold down imo. http://stockcharts.com/h-sc/ui?s=plni&p=D&yr=0&mn=6&dy=0&id=p85870896926 Posted by Bearclaw on :
lukin... Agreed...MM's got caught with their pants down...trying to cover
Posted by TickTrader on :
quote:Originally posted by Buckeye: Be prepared to get yelled at MBmaid. I ditto your post, BUT most want to see this run so bad (20-40% possible today) that any posts similar to yours won't be received to well. Hope everyone does well.
Hope nobody yells at mbmaid, no reason for that.
Just curious... Where do you see PLNI in 3 years? Back at .0017?
With huge start-up losses, I saw dollar signs in five years on this one from day one. Some are great flippers, some are great short-term, and just a few are great long-term. PLNI is long-term, my avg pps across accounts is .00375.
Posted by imakmony2005 on :
just got 250,777 more, took along time for a fill aon order
Posted by imakmony2005 on :
--Plasticon has little to no DEBT-- h--p://www.siliconinvestor.com/readmsg.aspx?msgid=21336918&srchtxt=debt
--Plasticon is currently PROFITABLE and has no operating DEBT.-- h--p://www.siliconinvestor.com/readmsg.aspx?msgid=22096905&srchtxt=debt h--p://www.siliconinvestor.com/readmsg.aspx?msgid=22271788&srchtxt=profitable
everything looking good here guys
Posted by lukin4winners on :
Green Baron release out. Good read on PLNI especially the sentence about holding until tomorrows close
Tuesday, April 25, 2006
Special Update
Plasticon International (PK: PLNI)
Major Press Released Just Issued Pre-Market!
Plasticon Posts 2005 and 2004 Financial Statements and Disclosure Document on www.pinksheets.com
Ever since The Green Baron Report first chose Plasticon Intl. (PK: PLNI) as our May Focus Stock Pick last year, the story has intrigued the masses. Our original pick price and the ensuing run was extraordinary. This actively traded Pink Sheet stock rallied from our pick price on May 10, 2005 at .0052 per share to hit .0199 per share in less than 30 days, a move of over 282%. PLNI trades very actively and with a tight spread so enormous gains can truly be experienced by picking the stock up at the right times.
However, PLNI has frustrated these same masses of investors. Over the past year, the Company has trumpeted promises such as delivery of its financial documents, agreements with BlueLinx, instituting a share buyback program, confirmation of two acquisitions, and submission of its data to reestablish its quotation with PinkSheets.com. In one fell swoop, Plasticon finally showed up to the party delivering on all these promises in its press release issued pre-market trading this morning and in its financial documents now filed on through the PinkSheets.com website.
Now that Plasticon has joined the party, we don’t think they have any intention of leaving soon, unless you are talking about its listing on the Pink Sheets. The 47 page unaudited financial reports for years 2004 and 2005 requested for active quotation are now posted at http://www.pinksheets.com/quote/finance.jsp?symbol=PLNI by clicking on the Financial Reports icon and clicking NASD Form 211. Once audited financials are filed and accepted with the proper authorities, the Company should qualify to reestablish its Bulletin Board trading status.
Most know the story of Plasticon already, but we encourage those that do not to review the acquisitions of Pro Mold and SEMCO Manufacturing and see what they mean to the future of this potential leader of industrial and commercial products. It is a bit frustrating that Plasticon was forced to make stock issuances to pay for these strategic acquisitions, but results from these operations over the next several quarters and years could set record growth numbers.
The Green Baron Report believes that Plasticon truly wishes to reduce its shares outstanding and will be presenting a buyback program that could make heads turn. Most of the shares issued over the past year were done in good faith to make smart acquisitions, and we understand many of the shares are being held in kind against loans and are not expected to ever reach the market. Most importantly, we firmly believe that Plasticon still has absolutely no intention to reverse split its shares.
Exactly one month ago on March 24, 2006, we chose PLNI as one of our Trader’s Corner picks at about .0055 per share to move within 30 days. Although we hoped Plasticon would present announcements such as the one today to help us deliver on our prognostication, we believe by tomorrow’s close we can say we were right. Some people think that today’s release could send the shares higher by over 100% since the closing price yesterday at .0042 per share was the lowest closing price since late last year after severe tax selling.
Posted by imakmony2005 on :
Time to take it up.
Posted by Chopper on :
Nice find Lukin.... Let's get some movement now. Ubss has been sitting on this like a chicken.
Posted by YellowSubmarine on :
Plasticon/SEMCO/ProMold (Pink PLNI): has been in the recycled plastics business for 17 years. The company's line of patented, plastic concrete accessories has been approved or accepted in all 50 states and several foreign countries including Poland, Israel, Canada, Mexico, and Egypt. In addition, its transportation signage has received DOT approval or acceptance in all 50 states. Specifically, Plasticon offers for resale: ..1. Rebar supports ..2. Plastic lumber ..3. Plastic signage (i.e.; highway and state signs) ..4. Office products including file folders and binders ..5. Impermeable concrete-like products made from recycled glass. SEMCO offers wear and weather resistant surfacing products. ProMold is the injection molding production facilty... RTQ's & L-II: http://www.pinksheets.com/quote/quote.jsp?symbol=plni Website: http://plasticonintl.com/ -and- http://www.semcomfg.com/ Basic DD Post: http://tinyurl.com/da2z8 [b]PlasticMan:[/b} http://tinyurl.com/o69an Posted by YellowSubmarine on :
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Plasticon Posts 2005 and 2004 Financial Statements and Disclosure Document on www.pinksheets.com Apr 25 2006 8:31AM ET Plasticon Announces That SEMCO's System Is Selected and Specified for Department of Transportation Surfacing Contract Jan 30 2006 9:30AM ET The Stockpage: OTC Hot Stocks to Watch! Jan 30 2006 9:02AM ET Plasticon International to Launch Marketing Campaign for SEMCO in February Jan 27 2006 9:30AM ET StockstoFollow.com: Begins Research on Plasticon International Inc.(OTCPK: PLNI) for Thursday January 26, 2006 Jan 26 2006 12:07PM ET Traders Nation: Traders Nation Television -- "Monster Careers: Networking", co-author Doug Hardy, visits Traders Nation Jan 26 2006 4:50AM ET Semco Announces McCarren International Airport Surfacing Contract Jan 25 2006 9:30AM ET Plasticon International Recent Media Coverage Jan 24 2006 9:31AM ET
.
Posted by YellowSubmarine on :
From: Michael D. Cummings (..from SI..):
"..Let me see if I can present it clearer in this post..":
All of the information contained in this Information and Disclosure Statement has been compiled to fulfill the disclosure requirements of Rule 15c2-11 (a)(5) promulgated under the Securities and Exchange Act of 1934, as amended. The enumerated captions contained herein correspond to the sequential format set forth in the rule. https://www.otcstockinfo.com/repository/671/671_FR1.pdf
Item (i): The exact name of the issuer and its predecessor (if any). · Plasticon International, Inc. · Wicklund Petroleum Corp. until 03-87 · Wicklund Holding Co. until 09-04 Item (ii): The address of its principal executive offices. Corporate Offices: Plasticon International, Inc. 3288 Eagle View Lane Suite 290 Lexington, KY 40509 Issuer’s Investor Relations: Big Apple Consulting USA, Inc. 1-866-843-2775 Item (iii): The state and date of incorporation, if it is a corporation. · Wyoming, 1981 Item (iv): The exact title and class of each class of securities outstanding. Security Symbol: PLNI Cusip Number: 727563 10 8 Common Stock: Authorized – 13,500,000,000 Outstanding – 4,977,740,339 Preferred Stock: None Item (v): The par or stated value of the security. $0.001 Item (vi): The number of shares or total amount of the securities outstanding for each class of securities outstanding and a list of securities offerings and shares issued for services in the past two years. Total amount of the securities outstanding 4,977,740,339 Big Apple Consulting: 44,006,805 Equity Link 330,000,000
Item (vii): The name and address of the transfer agent. First American Stock Transfer, Inc. 706 East Bell Road, Suite 202 Phoenix, AZ 85022 Item (viii): The nature of the issuer’s business. Plasticon International, Inc. designs, produces, and distributes high-quality concrete accessories (rebar supports), informational and directional signage, and plastic lumber, which are all produced from recycled and recyclable plastics.
1. Form of Organization. Plasticon is a Wyoming corporation.
2. Year Issuer was organized. 1981
3. Fiscal Year End Date. Fiscal year end date is December 31st
4. Whether the issuer (and/or any predecessor) has been in bankruptcy, receivership or any similar proceeding No
5. Any Material reclassification, merger, consolidation or purchase or sale. No
6. Has the Company had any default of the terms of any note, loan, lease, or other indebtedness or financing arrangement requiring the issuer to make payments? Yes
7. Has the Issuer undergone any change of control? No
8. Has there been an increase in Ten (10%) Percent or more of the same class of outstanding equity securities? Yes
9. Describe any past, pending or anticipated stock split, stock dividend, recapitalization, merger, acquisition, spin-off, or reorganization. 8-1 Split Date of Record 1/30/2004
10. Whether the issuer has been delisted by any securities exchange or NASDAQ or deletion from the OTC Bulletin Board. Yes, the issuer was delisted from the OTC: BB.
11. Whether there are any current, past, pending or threatened legal proceedings or administrative actions either by or against the issuer that could have a material effect on the issuer’s business, financial condition, or operations. Whether there are any current, past or pending trading suspensions by a securities regulator. State the names of the principal parties, the nature and current status of the matters, and the amounts involved. No
B. Business of the Issuer. Provide a description of the Issuer’s business so a potential investor can clearly understand it.
1. Issuer’s Primary and Secondary SIC Codes. The Primary SIC Code for the Company is 3089
2. Whether the Issuer has never conducted operations, is in the development stage or is currently conducting operations. The Company is currently conducting operations.
3. State the names of any parent, subsidiary, or affiliate of the issuer, and describe its business purpose, its method of operation, its ownership, and whether it is included in the financial statements attached to this disclosure document. ProMold, Inc & SEMCO, are both recently acquired. The operations from Pro Mold and SEMCO will be included in the operating results of the Company starting January 1, 2006, pending SEC filings
4. The effect of existing or probable governmental regulations on the business. The Company does not foresee any substantial changes that could adversely affect the business of the Company at this time.
5. An estimate of the amount spent during each of the last two fiscal years on research and development activities, and, if applicable, the extent to which the cost of such activities are borne directly by customers. $200,000 per year
6. The costs and effects of compliance with environmental laws (federal, state and local). $25,000 per year, due to refilling with state fees.
7. Number of total employees and number of full-time employees. Approximately 50 employees.
C. Investment Policies. For any investments that the issuer has, provide clear descriptions of the investments, any restrictions or impairments the investments may have and the policies used to value and/or depreciate such assets from a financial and tax perspective. State whether there are any limitations of the percentage of assets which may be invested in any one investment, or type of instrument, and indicate whether such policy may be changed without a vote of security holders. State whether the issuer’s policy is to acquire assets primarily for possible capital gain or primarily for income.
If the issuer owns any real estate, interests in real estate, mortgages or securities related to or backed by real estate, describe the issuer’s policies with respect to each of the following types of investments. NOT APPLICABLE
1. Investments in real estate or interests in real estate. Indicate the types of real estate in which the issuer may invest, and describe the method (or proposed method) of operating and financing these properties. Indicate any limitations on the number or amount of mortgages that may be placed on any one piece of property.
2. Investments in real estate mortgages. Indicate the types of mortgages and the types of properties subject to mortgages in which the issuer plans to invest. Describe each type of mortgage activity in which the issuer intends to engage, such as originating, servicing and warehousing, and the portfolio turnover rate.
3. Securities of or interests in persons primarily engaged in real estate activities. Indicate the types of securities in which the issuer may invest, and indicate the primary activities of persons in which the issuer may invest and the investment policies of such persons. Item (ix): The nature of products or services offered.
1. Principal products or services, and their markets. Plasticon International, Inc provides materials that support mission critical corporate, military and government facilities, and the plastic signage on highways. The applications for Plasticons' recycled plastic products are endless. Existing products include: DURALAST Plastic Lumber, Plastic Rebar Supports, Plastic Informational and Directional Outdoor Signage.
2. Distribution methods of the products or services. The primary method of distribution is through BlueLinx Corporation.
3. Status of any publicly announced new product or service. The company has recently completed the acquisition of ProMold, Inc and SEMCO; in addition the company has signed a distribution agreement with BlueLinx Corporation to sell its proprietary rebar support systems.
4. Competitive business conditions, the issuer’s competitive position in the industry, and methods of competition. The business’ primary competition includes other plastic rebar support companies and traditional steel rebar support companies.
5. Sources and availability of raw materials and the names of principal suppliers. Plasticon International Inc. has adequate availability of raw materials, through its recent acquisition of ProMold Inc. to manufacture and supply materials for its customer base.
6. Dependence on one or a few major customers Yes, The Company’s main sources of distribution include BlueLinx Corporation and R&S Manufacturing.
7. Patents, trademarks, licenses, franchises, concessions, royalty agreements or labor contracts, including their duration. Patent # 4942714 has a duration of 17 years and was issued July 24, 1990 and is held in the name of Turek Marketing International under James N. Turek Sr. President and CEO of Plasticon International, Inc.
8. The need for any government approval of principal products or services. Discuss the status of any requested government approvals.
State Department of Transportation approval or acceptance in all fifty states. Federal Government approval in approval or acceptance in all fifty states and United States Territories. All provinces in Canada. Item (x): The nature and extent of the issuer’s facilities. Describe the assets, properties or facilities of the issuer, give the location of the principal plants and other property of the issuer and describe the condition of the properties. If the issuer does not have complete ownership or control of the property (for example, if others also own the property or if there is a mortgage on the property), describe the limitations on the ownership. If the issuer leases any assets, properties or facilities, clearly describe them as above and the terms of their leases.
Plasticon Corporate Offices Lexington, KY 6,000 sq ft Lease 3/1/2006 – 3/1/2011 ProMold Inc. St. Louis, MO 68,000 sq ft Manufacturing Facility Semco Henderson, NV 15,000 sq ft Manufacturing Facility If the issuer owns any property or properties, for which the book value amounts to 10 percent or more of the total assets of the issuer and its consolidated subsidiaries for the last fiscal year furnish the following information for each such property (otherwise disclosure of the below items 1-7 does not need to be included): NOT APPLICABLE
1. Describe the general character and locations of all materially important properties held or intended to be acquired by or leased to the issuer and describe the present or proposed use of such properties and their suitability and adequacy for such use. Properties not yet acquired should be identified as such.
2. State the nature of the issuer’s title to, or other interest in, such properties and the nature and amount of all material mortgages, liens or encumbrances against such properties. Disclose the current principal amount of each material encumbrance, interest and amortization provisions, prepayment provisions, maturity date and the balance due at maturity assuming no prepayments.
3. Outline briefly the terms of any lease or any of such properties or any option or contract to purchase or sell any of such properties.
4. Outline briefly any proposed program for the renovation, improvement or development of such properties, including the estimated cost thereof and the method of financing to be used. If there are no present plans for the improvement or development of any unimproved or undeveloped property, so state and indicate the purpose for which the property is to be held or acquired.
5. Describe the general competitive conditions to which the properties are or may be subject.
6. Include a statement as to whether, in the opinion of the management of the issuer, the properties are adequately covered by insurance.
7. With respect to each improved property which is separately described, provide the following in addition to the above: a. Occupancy rate b. Number of tenants occupying 10% or more of the rentable square footage and principal nature of business of each such tenant, and the principal provisions of each of their leases c. Principal business, occupations and professions carried on in, or from, the building d. The average effective annual rental per square foot or unit e. Schedule of the lease expirations for each of the next 10 years, stating: i. The number of tenants, whose leases will expire, ii. The total area in square feet covered by such leases, iii. The annual rental represented by such leases, and iv. The percentage of gross annual rental represented by such leases. f. Each of the properties and components thereof upon which depreciation is taken, setting forth the: i. Federal tax basis, ii. Rate, iii. Method, and iv. Life claimed with respect to such property or component thereof for purposes of depreciation. g. The realty tax rate, annual realty taxes and estimated taxes on any proposed improvements. Item (xi): The name of the chief executive officer, members of the board of directors, as well as counsel, accountant and public relations consultant. A. Officers, Directors and Advisors. The full names, business addresses, employment histories (which should list all previous employers for the past 10 years, positions held, responsibilities and employment dates), board memberships, other affiliations, and number of securities (and of which class) beneficially owned by each such person, which information must be no older than the date of this information statement, for the issuer’s: 1 and 2. Executive Officers and Directors are listed below with their business address. Name Position Share Ownership/Percentage James N. Turek President, Chief Executive Officer 15.9%* 3288 Eagle View Lane and Chairman of the Board Suite 290 Lexington, KY 40509 * James N. Turek’s 15.9% represents direct and indirect ownership of common shares. Mr. Turek has controlling interest of Plasticon International, Inc with an additional 7.3 Billion voting shares. Please see footnote in regards to voting interest. James Toohey Consultant/Director of Global 0% 3288 Eagle View Lane Business Development and Ex-Officio Suite 290 of the Board Lexington, KY 40509 Steve Murphy Director of Manufacturing and Production 0% 3288 Eagle View Lane Suite 290 Lexington, KY 40509 James N. Turek II Director of Marketing >1% 3288 Eagle View Lane Suite 290 Lexington, KY 40509 Carmine Bua SEC Attorney > 1% 1660 Hotel Circle North Suite 207 San Diego, CA 92108-2802 C Edwin Rude Jr Corporate Counsel > ½% 211 East Call Street Tallahassee, FL. 32301 James Bonn Director of Accounting and Administration > 2% 3288 Eagle View Lane Suite 290 Lexington, KY 40509 Dean, Dorton and Ford Corporate Accountants 0% 106 West Vine St. Suite 600 Lexington, KY 40507 Mendoza and Berger Company Auditor 0% Company LLP 5500 Trabuco Rd Suite 150 Irvine, CA 92620 Big Apple Consulting Consultants to the Company > 1 % USA, Inc. 280 Wekiva Springs Road Ste. 201 Longwood, FL 32779 The principal occupation and business experience during the last several years is listed below for each of the present executive officers and directors: 1 During the course of 2005 James N. Turek loaned Plasticon International, Inc $5,799,849.12 to execute its business plan and acquire revenue producing businesses. In return for forgiveness of the loan to Plasticon International, Inc, Mr. Turek agreed to accept Series B Preferred Shares with voting rights equal to 7.3 billion common shares’. These voting rights have established James N. Turek as the controlling shareholder for Plasticon International, Inc. The loan to Plasticon International, Inc as well as the issuance of the preferred shares was accomplished through LexReal Company LLC of which Mr. Turek is President and principal shareholder. 2 Due to the Series B Preferred shares being issued as a means of debt forgiveness and the preferred shares having an option to convert into restricted shares, should the controlling shareholder wish to exercise the option, there was therefore a need to increase the authorized shares for Plasticon International, Inc. The principal occupation and business experience during the last several years is listed below for each of the present executive officers and directors: James N. Turek, President, CEO and Chairman of the Board • Degrees in Public Relations and Advertising • 5 years with McDonnell Douglas as a cost Analyst working for the Comptroller with responsibility for Convention Marketing, film and print media including DC-10, Phantom, P15 Eagle, Holography, Voice Synthesizing, latent finger prints, Aerospace as well as, at that time, the largest computer installation in the world with responsibility for Medical Diagram, grading and bus scheduling to name a few. • 10 years in the hospitality industry representing corporations and association marketing • Founded PLNI 17 years ago and serves as President and CEO. James Toohey, Consultant, Director of Global Business Development, and Ex-Officio of the Board • Former executive with the world's leading greeting card manufacturing company • Retired as head of their international division with the responsibility for acquiring and operating dozens of International companies. • Mr. Toohey assists with the development and implementation of PLNI distributor and marketing program. He brings international experience into the company. Steve Murphy, Director of Manufacturing and Production • 30 years of International, multi-industry manufacturing experience centered around injection molding and tool making. • Mr. Murphy has a proven track record in manufacturing environment covering all phases of costing, profit and loss. • Has a strong background in engineering including tool design procurement, customer liaison, and tool evaluation. • Mr. Murphy has a Bachelor of Science degree in mechanical engineering from Burnley College, England and attended Graduate School of Management at the University of Tennessee. James N. Turek II, Director of Marketing • Degree in Psychology • From age 10 to present has worked in every facet of the business with 5 years construction to the development of PLNI.
• Responsibilities include market development, computer reporting and analysis as well as day to day responsibility with BlueLinx and PCI. James Bonn, Director of Accounting and Administration
• CPA and Attorney • 14 years working with PLNI in the area of contract administration, finance, accounting, audits and legal matters with a distinguished career in accounting and law practice over the last 40 years. Carmine Bua, Esquire Securities Attorney
8. Accountant or Auditor - the information should clearly describe if an outside accountant provides audit or review services, state the work done by the outside accountant, describe the responsibilities of the accountant and the responsibilities of management (i.e. who audits, prepares or reviews the issuer’s financial statements, etc.). The information should include the accountant’s phone number and email address and a description of the accountant’s licensing and qualifications to perform such duties on behalf of the issuer; Dean, Dorton & Ford, PSC 106 West Vine Street, Suite 600 Lexington, Kentucky 40507 859-255-2341 Fax 859-255-0125 inforeq*ddfky.com 9. Public Relations Consultant(s) Big Apple Consulting USA, Inc. 407-844-0444 Maguire75*hotmail.com 10. Any other advisor(s) that assisted, advised, prepared or provided information with respect to this disclosure documentation – the information should include the advisor(s)’ telephone number and email address. Prepared by the Company B. Legal/Disciplinary History. Please identify whether any of the foregoing persons have, in the last five years, been the subject of:
1. A conviction in a criminal proceeding or named as a defendant in a pending criminal proceeding (excluding traffic violations and other minor offenses). NOT APPLICABLE
2. The entry of an order, judgment, or decree, not subsequently reversed, suspended or vacated, by a court of competent jurisdiction that permanently or temporarily enjoined, barred, suspended or otherwise limited such person’s involvement in any type of business, securities, commodities, or banking activities. NOT APPLICABLE
3. A finding or judgment by a court of competent jurisdiction (in a civil action), the SEC, the CFTC, or a state securities regulator of a violation of federal or state securities or commodities law, which finding or judgment has not been reversed, suspended, or vacated. NOT APPLICABLE
4. The entry of an order by a self-regulatory organization that permanently or temporarily barred, suspended or otherwise limited such person’s involvement in any type of business or securities activities. NOT APPLICABLE
C. Beneficial Owners. To the extent not otherwise disclosed in response to the foregoing, provide a list of the name, address and shareholdings all persons holding more than five percent (5%) of any class of the issuer’s equity securities. To the extent not otherwise disclosed, if any of the above shareholders are corporate shareholders, provide the disclosure requested in this item as to person(s) owning or controlling such corporate shareholders and the resident agents of the corporate shareholders. NOT APPLICABLE
D. Disclosure of Certain Relationships. Describe any relationships existing among and between the issuer’s officers, directors and shareholders. To the extent not otherwise disclosed, describe all relationships and affiliations among and between the shareholders and the issuer, its predecessors, its present and prior officers and directors and other shareholders.
Jim Turek, President and CEO is the father of James N. Turek II, Director of Marketing.
Item (xii): Adequate disclosure of the issuer’s (or its predecessor’s) current financial position, which should include the most recent fiscal year and any interim quarters.
1. The most recently prepared financial statements are attached hereto as Exhibit “A” and include a balance sheet as of September 30, 2005, a statement of operations as of September 30, 2005, a statement of cash flow as of September 30, 2005 and a statement of changes in stockholders’ equity. The financial statements requested pursuant to this item are prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP).
2. The Company intends to post all future reports on the Pinksheets website every quarter to disclose the financial condition of the company and any changes that have occurred since this statement.
Item (xiii): Similar financial information for such part of the 2 preceding fiscal years as the issuer or its predecessor has been in existence. Item (xiv): Whether any quotation is being submitted or published directly or indirectly on behalf of the issuer, or any director, officer, affiliate, or any person, directly or indirectly the beneficial owner of more than 10 percent of the outstanding units or shares of any equity security of the issuer, or at the request of any promoter for the issuer, and, if so, the name of such person, and the basis for any exemption under the federal securities laws for any sales of such securities on behalf of such person. A person is presumed to be an affiliate if they own more than 10% of the stock, but may be an affiliate even if they own less stock if the facts and circumstances indicate that they are participating with the issuer in a distribution of securities with a view to raising capital for the issuer. NOT APPLICABLE
PLASTICON INTERNATIONAL, INC. Consolidated Financial Statements Years ended December 31, 2005 and 2004 CONTENTS ____ Pages Financial Statements: Balance Sheet 1 Statement of Operations 2 Statement of Stockholders' Equity (Deficit) 3 Statement of Cash Flows 4 Notes to Financial Statements 5 - 18 PLASTICON INTERNATIONAL, INC. Consolidated Balance Sheet December 31, 2005 and December 31, 2004 December 31, 2005 (Unaudited) December 31, 2004 Assets Current assets: Accounts receivable $ 241,412 $ - Inventory 542,639 - Due from related parties 170,809 140,506 Other current assets 381,393 - Total current assets 1,336,253 140,506 Fixed assets, net 4,046,485 519,043 Other assets: Goodwill 427,223 - Other long-term assets 874,769 - Total other assets 1,301,992 - Total assets $ 6,684,730 $ 659,549 PLASTICON INTERNATIONAL, INC. Consolidated Balance Sheet, continued December 31, 2005 and December 31, 2004 Liabilities and Stockholders' Equity (Deficit) December 31, 2005 (Unaudited) December 31, 2004 Current liabilities: Accounts payable $ 350,054 $ 149,157 Notes payable 1,671,828 5,276,402 Bank overdraft 193,899 - Due to related parties 661,681 82,630 Accrued payroll and bonuses due to related parties 285,034 3,031,284 Accrued interest due to related parties 118,000 2,032,572 Lines of credit 379,413 - Other current liabilities 386,030 93,456 Total current liabilities 4,045,939 10,665,501 Notes payable, net of current portion 1,151,681 - Total liabilities 5,197,620 10,665,501 Stockholders' equity (deficit): Common stock; $0.001 par value; 3,000,000,000 shares authorized 3,727,740,100 shares issued and outstanding as of December 31, 2005 and 1,440,486,371 shares issued and outstanding as of December 31, 2004. 3,727,740 1,440,486 Preferred stock subscribed – not issued (106,000,000) 6,344,459 - Additional paid-in capital 109,624,236 75,428,740 Accumulated deficit (118,209,325) (86,875,178) Total stockholders' deficit 1,487,110 (10,005,952) Total liabilities and stockholders' equity (deficit) $ 6,684,730 $ 659,549 PLASTICON INTERNATIONAL, INC. Statement of Operations Years ended December 31, 2005 and 2004 December 31, 2005 December 31, 2004 (Unaudited) Revenue $ 170,809 $ - Cost of goods sold (82,510) - Gross profit 88,299 - Operating expenses: Selling, general and administrative 31,750,092 73,448,109 Total operating expenses 31,750,092 73,448,109 Loss from operations (31,661,793) (73,448,109) Other income (expense): Interest expense (73,099) (200,446) Forgiveness of debt 400,745 - Total other income (expense) 327,646 (200,446) Net loss $ (31,334,147) $ (73,648,555) Basic and diluted loss per common share $ (.01) $ (0.07) Basic and diluted weighted average common shares outstanding 2,164,757,608 1,026,556,648 PLASTICON INTERNATIONAL, INC. Statement of Stockholder’s Equity (Deficit) Years ended December 31, 2005 and 2004 (Unaudited) Common Stock Common Stock Preferred Stock Additional Accumulated Total Shares Amount Subscribed, not issued Subscribed, not issued Paid-in-Capital Deficit Stockholders' Deficit Balance, December 31, 2003 37,856,600 $ 37,857 $ 64,133 $ - $ 1 ,551,203 $ (13,226,623) $ (11,573,430) Stock issuances 1,402,629,771 1,402,629 (64,133) - 73,877,537 - 118,693,680 Net loss for 2004 - - - - - - (73,648,555) (117,126,202) Balance, December 31, 2004 1,440,486,371 1,440,486 - - 75,428,740 (86,875,178) (10,005,952) Shareholder contribution to reduce notes payable - - - - 3,010,410 - 3,010,410 Related party forgiveness of debt - - - - 82,630 - 82,630 Related party contribution to remove trade payable - - - - 680,342 - 680,342 PCI asset acquisition - - - 360,000 (860,000) - (500,000) Conversion of related party debt to subscribed preferred stock - - - 5,984,459 (218,357) - 5,766,102 Shareholder forgiveness of debt 5,979,849 5,979,849 Stock issuances 2,287,253,729 2,287,254 - - 25,520,622 - 27,807,876 Net loss - - - - - (31,334,147) (31,334,147) Balance, December 31, 2005 3,727,740,100 $ 3,727,740 $ - $ 6,344,459 $ 109,624,236 $ (118,209,325) $ 1,487,110 PLASTICON INTERNATIONAL, INC. Statements of Cash Flows Years ended December 31, 2005 and 2004 December 31, 2005 December 31, 2004 (Unaudited) Cash flows from operating activities: Net loss $ (31,334,147) $ (73,648,555) Adjustments to reconcile net loss to net cash used by operating activities: Forgiveness of debt (400,745) - Depreciation 53,058 57,176 Other net operating changes 31,681,834 73,591,379 Net cash used by operating activities - - Net change in cash - - Cash, beginning of period - - Cash, end of period $ - $ - Supplemental disclosure of cash flow information: Cash paid for interest $ - $ 68,812 PLASTICON INTERNATIONAL, INC. Notes to the Financial Statements (Unaudited)
1. Business, Basis of Presentation Nature of Business Plasticon International, Inc. (formerly Wicklund Holdings, “Company” or “Plasticon”), a Wyoming Corporation, designs, produces and distributes high-quality concrete accessories, transportation signage, plastic lumber and office supplies which are all produced from recycled and recyclable plastics. Plasticon is a leader, an innovator of cutting edge design, engineering and production of industrial and commercial products. Plasticon is a green company, environmentally friendly, using recycled plastics to produce its line of products.
In January 2005, the Company obtained certain assets (molds, sales contract, customer base, and patents) from a related party, Promotional Container, Inc. (PCI). PCI is owned by James N. Turek Sr., the Company's president and majority shareholder.
Consideration to PCI consisted of a promise to exchange 100,000,000 shares of preferred stock (recorded as $360,000 of preferred stock subscribed in the accompanying balance sheet) in the Company by May 2007 and a promise to pay $500,000 (non interest bearing) by May 2006. Due to common control, paid in capital was reduced by $860,000 to record the transaction.
The transaction was treated for accounting purposes as a transfer of net assets under common control with accounting similar to that of a pooling of interests. Accordingly, the historical cost basis of the underlying assets transferred from PCI to the Company was carried over from PCI to the Company. PCI had no net book basis in the assets transferred, so the Company recorded no assets in this transaction. In December 2005, the Company acquired all the stock of Pro Mold, Inc. (Pro Mold), an injection molding facility in the Midwest. The purchase terms are a payment of $3,500,000 in cash (see Note 3).
2. Summary of Significant Accounting Policies The preparation of consolidated financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Principles of Consolidation The financial position of Pro Mold as of December 31, 2005 (see Note 3) has been included in the consolidated financial statements. All intercompany accounts and transactions have been eliminated. The operations of Pro Mold will be consolidated starting January 1, 2006. PLASTICON INTERNATIONAL, INC. Notes to the Financial Statements (Unaudited)
2. Summary of Significant Accounting Policies, continued Revenue Recognition Revenue is recognized as earned.
Income Taxes The Company has implemented the provisions on Statement of Financial Accounting Standards No. 109, “Accounting for Income Taxes” (“SFAS 109”). SFAS 109 requires that income tax accounts be computed using the liability method. Deferred taxes are determined based upon the estimated future tax effects of differences between the financial reporting and tax reporting bases of assets and liabilities given the provisions of currently enacted tax laws.
Property and Equipment Property and Equipment are valued at cost. Depreciation and amortization are provided over the estimated useful lives up to twenty years using the straight line method. The estimated service lives of property and equipment are as follows:
Manufacturing equipment 20 years Tools and Molds 20 years Office furniture and equipment 10 years Net Loss Per Share The Company has adopted Statement of Financial Accounting Standards No. 128, “Earnings Per Share” (“SFAS 128”), specifying the computation, presentation and disclosure of earnings per share information. Basic earnings per share have been calculated based upon the weighted average number of shares outstanding. There is no effect on earning per share for the years ended December 31, 2005 and 2004 relating to the adoption of this standard.
Stock Based Compensation
On December 16, 2004, FASB published Statement of Financial Accounting Standards No. 123 (Revised 2004), Share-Based Payment (“SFAS 123R”). SFAS 123R requires that compensation cost related to share-based payment transactions be recognized in the financial statements. Share-based payment transactions within the scope of SFAS 123R include stock options, restricted stock plans, performance-based awards, stock appreciation rights, and employee share purchase plans. PLASTICON INTERNATIONAL, INC. Notes to the Financial Statements (Unaudited)
3. Pro Mold Acquisition The December 2005 acquisition of Pro Mold was accounted for as a purchase business combination under the provisions of the FASB’s SFAS No. 141, Business Combinations. The aggregate purchase price of $3,500,000 was allocated to the assets acquired and liabilities assumed based on the respective fair values. The Company engaged an independent appraisal to assess the fair value of the property and equipment. The Pro Mold accounts receivable, inventory, accounts payable and accrued expenses and other assets and long term liabilities were estimates of management. Management is still in the process of finalizing the allocation of the purchase price. The Company will include Pro Mold in its operating results starting January 1, 2006.
The following table summarizes the estimated fair values of assets acquired and liabilities assumed at the date of acquisition.
December 31, 2005 Accounts receivable $ 241,412 Inventory 542,639 Due from related parties 63,477 Other current assets 117,916 Property and equipment 3,580,500 Goodwill 427,223 Bank overdraft (193,899) Accounts payable (309,112) Lines of credit (379,413) Other liabilities (590,743) Net assets acquired $ 3,500,000 Funded by: Related party funding (See Note 7) 2,500,000 Long-term debt (See Note 6) 1,000,000 Total $ 3,500,000 PLASTICON INTERNATIONAL, INC. Notes to the Financial Statements (Unaudited)
3. Pro Mold Acquisition, continued The unaudited pro forma information shown below assumes that the Pro Mold acquisition occurred as of January 1, 2005 and January 1, 2004. This pro forma financial statement information is presented for informational purposes only and is not necessarily indicative of the results of future operations that would have been achieved had the assets been acquired and liabilities been assumed at the beginning of 2004.
Unaudited December 31, 2005 December 31, 2004 Amount Amount Revenues $3,790,508 $3,015,381 Net loss before beneficial interest (majority shareholder) (4,077,853) (1,843,824) Net loss (31,744,477) (73,693,442) Basic and diluted loss per share (.01) (.07) 4. Property and Equipment Major classes of property and equipment at December 31, 2005 and December 31, 2004 consist of the following: December 31, 2005 December 31, 2004 Equipment and molds $ 4,641,641 $ 1,061,142 Office furniture and equipment 54,923 54,923 4,696,564 1,116,065 Less accumulated depreciation (650,079) (597,022)
Net property and equipment $ 4,046,485 $ 519,043 Depreciation expense totaled $53,058 and $57,176 for the periods ended December 31, 2005 and 2004, respectively. PLASTICON INTERNATIONAL, INC. Notes to the Financial Statements (Unaudited)
5. Liquidity As shown in the accompanying financial statements, the Company incurred net losses of $31,334,147 and $73,648,555 for the years ended December 31, 2005 and 2004, respectively. Current liabilities exceed current assets by $2,709,686 and $10,524,995 for the years ended December 31, 2005 and 2004, respectively. Management expects the acquisitions to help improve operations and cash flows during 2006.
6. Notes Payable Notes payable consists of the following as of December 31, 2005 and December 31, 2004:
December 31, 2005 December 31, 2004 Note payable to First National Bank of Barnesville, Barnesville, Georgia $ 500,000 $ 2,095,410 Notes payable to Dennis Joslin Company LLC, Dyersburg, Tennessee, personally guaranteed by majority shareholder - 325,000
Note payable to Export Finance Network, Coral Gables, FL., personally guaranteed by majority shareholder - 1,500,000 Note payable to Laser Engineering, Fort Lauderdale, FL., personally guaranteed by majority shareholder - 625,000 Note payable to John P. Murphy (seller of ProMold, see Note 3), payable over a five year period in equal installments of $200,000 and shall bear interest at the rate of 5% per annum 1,000,000 -
Notes payable to related parties (see Note 4) 800,000 730,992 Other notes payable 523,509 - Total notes payable 2,823,509 5,276,402 Less current portion (1,671,828) (5,276,402) Long-term portion of notes payable $ 1,151,681 $ - PLASTICON INTERNATIONAL, INC. Notes to the Financial Statements (Unaudited) 6. Notes Payable, continued Future obligations of long term debt are as follows: 2006 $ 1,671,828 2007 551,681 2008 200,000 2009 200,000 2010 200,000 Total $ 2,823,509
The Company is currently in the process of settling the debt with the Bank of Barnesville. The Company's majority shareholder transferred 7,000,000 shares of his personally held Plasticon International, Inc. stock to the Bank of Barnesville in order to reduce the debt to $500,000 in the first quarter. Management expects the remaining amount of the debt to be discharged during the second quarter 2006. The Company restructured its debt with Dennis Joslin Company LLC during the course of the first quarter ended March 31, 2005. As a result of this settlement, the Company recognized income from forgiveness of debt in the amount of $65,303 during the quarter ended March 31, 2005.
The Company restructured its debt with Export Finance Network during the course of the first quarter ended March 31, 2005. James N. Turek, Sr. transferred 2,000,000 shares of his personally held Company's stock to Export Finance Network. In addition, James N. Turek, Sr. and the Company have agreed to a note payable in the amount of $85,000. The transfer of these shares and the assumption and payment of this note payable to Export Finance Network will completely satisfy this debt during the course of 2005. As a result of this settlement, during the quarter ended March 31, 2005, the Company reduced the debt by $1,415,000 with an offsetting entry to paid-incapital.
The Company restructured its debt with Laser Engineering during the course of the second quarter ended June 30, 2005. As a result of this settlement, the Company recognized income from forgiveness of debt in the amount of $440,000 during the quarter ended June 30, 2005
PLASTICON INTERNATIONAL, INC. Notes to the Financial Statements, continued (Unaudited) . 7. Related Party Transactions
On December 31, 2005, the James N. Turek, Sr., majority shareholder forgave approximately $6,000,000 of obligations consisting of notes payable, accrued interest, and accrued salaries and bonuses. The Company removed the obligations and increased paid in capital by the respective amount.
During the years ended 1989 through 2001, James N. Turek, Sr. advanced funds to the Company in the amount of $2,139,122. The promissory notes included an interest rate of ten percent (10%) annum. Additionally, the holder of the promissory note has the right to convert the notes in to the Company's common stock at the Company's stated par value as well as to receive for every three shares converted from this note, a fourth to be issued by the Company for consideration of the note. During the year ended 2004, the Company's president elected to convert several notes with a stated value of $1,708,130. In consideration of the conversion, the James N. Turek, Sr. received 758,833,001 shares of the Company's common stock. As of December 31, 2005 and December 31, 2004, the balances owed to the Company’s president were $0 and $430,992, respectively. As of December 31, 2005 and December 31, 2004, the Company owes James N. Turek, Sr, $0 and $1,944,572, respectively, for accrued interest on past notes (amount included in accrued interest due to related parties).
During the years ended 2001 through 2002, James Turek II, the Company's operation executive and the son of the Company's president advanced funds to the Company in the amount of $130,000. The promissory notes provided by the Company to the operation executive included an interest rate of ten percent (10%) per annum.
Additionally, the holder of the promissory note has the right to convert the notes into the Company's common stock at the Company's stated par value as well as to receive for every three shares converted from this note, a fourth to be issued by the Company for consideration of the note. As of both December 31, 2005 and December 31, 2004 the balance owed to the Company's operation executive was $130,000.
During the years ended 2001 through 2003, James Bonn, the Company's secretary advanced funds to the Company in the amount of $120,000. During the year ended 2004, the Company's secretary advanced additional funds to the Company in the amount of $50,000. The promissory notes provided by the Company to the secretary included an interest rate of ten percent (10%) per annum. Additionally, the holder of the promissory note has the right to convert the notes into the Company's common stock at the Company's stated par value as well as to receive for every three shares converted from this note, a fourth to be issued by the Company for consideration of the note. As of December 31, 2005 and December 31, 2004, the balances owed to the Company's secretary were $170,000 and $120,000, respectively.
PLASTICON INTERNATIONAL, INC. Notes to the Financial Statements, continued (Unaudited)
7. Related Party Transactions, continued During the course of normal business, Lexeal LLC, a Kentucky limited liability company, paid for goods and service for the benefit of the Company. LexReal LLC is owned by the Company's majority shareholder. The debt from December 31, 2004 was forgiven during the first quarter 2005 by LexReal. The Company removed the obligation and increased paid-in capital to reflect this transaction. As of December 31, 2005 and December 31, 2004, the balances owed to LexReal LLC were $0 and $62,408, respectively. During 2005, the Company raised proceeds for the acquisitions (see Note 6) and other operating needs through commitments to issue free trading shares of Company stock. During 2005, the Company received approximately $6,000,000 of financing from LexReal to primarily fund the above acquisitions and to settle the common stock commitments. The Company has committed to convert the debt financing to preferred shares. The shares will be issued in 2006.
During the normal course of business, PCI paid for goods and services for the benefit of the Company. The debt from December 31, 2004 was forgiven during this quarter by PCI. The Company removed the obligation and increased paid-in capital to reflect this transaction. As of December 31, 2005 and December 31, 2004, the balances owed to PCI were $167,832 (exclusive of the $500,000 note payable included in notes payable) and $20,222, respectively. As of December 31, 2005, the Company has a due from PCI of $170,109 stemming from sales from the contract acquired in January 2005 (see Note 1).
During the normal course of business, the Company made available funds to Telco Blue, a Nevada corporation. Telco Blue is owned by the Company's majority shareholder. The Company has reflected an amount due from Telco Blue as of December 31, 2005 and December 31, 2004, in the amount of $0 and $140,506, respectively. The amount due was forgiven during 2005 by the Company.
PLASTICON INTERNATIONAL, INC. Notes to the Financial Statements, continued (Unaudited) 7. Related Party Transactions, continued The Company had the following related party notes payable as of December 31, 2005 and 2004: December 31, 2005 December 31, 2004 Note payable – James Turek Sr. Payable on demand, accruing interest at ten percent (10%) per annum, convertible into Plasticon International, Inc. at the discretion of the holder. $ - $ 430,992 Notes payable – James Turek II Payable on demand, accruing interest at ten percent (10%) per annum, convertible into Plasticon International, Inc. at the discretion of the holder. 130,000 130,000 Notes payable – James Bonn Payable on demand, accruing interest at ten percent (10%) per annum, convertible into Plasticon International, Inc. at the discretion of the holder. 170,000 170,000 Note payable to PCI (see Note 1) 500,000 - Total notes payable 800,000 730,992 Less current portion $ 800,000 730,991 Long term portion $ - $ -
8. Income Taxes The Company adopted Financial Accounting Standard No. 109 which requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statement or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between financial statements and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the PLASTICON INTERNATIONAL, INC. Notes to the Financial Statements, continued (Unaudited)
8. Income Taxes, continued differences are expected to reverse. Temporary differences between taxable income reported for financial reporting purposes and income tax purposes are insignificant.
For income tax reporting purposes, the Company’s aggregate unused net operating losses approximate $12.8 million which expire in various years through 2024, subject to limitations of Section 382 of the Internal Revenue Code, as amended. The Company has provided a valuation reserve against the full amount of the net operating loss benefit, because in the opinion of management based upon the earning history of the Company; it is more likely than not that the benefits will not be realized.
Components of deferred tax assets are as follows: December 31, 2005 December 31, 2004 Amount Amount Non-current: Net operating loss carryovers $12,821,185 $12,821,185 Valuation allowance (128,21,185) (12,821,185) Net deferred tax asset $ - $ - Under the Tax Reform Act of 1986, the benefits from net operating losses carried forward may be impaired or limited on certain circumstances. Events which may cause limitations in the amount of net operating losses that the Company may utilize in any one year include, but are not limited to, a cumulative ownership change of more than 50% over a three-year period. The impact of any limitations that may be imposed for future issuances of equity securities, including issuances with respect to acquisitions have not been determined.
PLASTICON INTERNATIONAL, INC. Notes to the Financial Statements, continued (Unaudited)
8. Income Taxes, continued Reconciliation of the differences between the statutory tax rate and the effective income tax rate is as follows: December 31, 2005 December 31, 2004 Amount Amount Statutory federal tax (benefit) rate (34.00)% (34.00)% Statutory state tax (benefit) rate (5.40)% (5.40)% Effective tax rate (39.40)% (39.40)% Valuation allowance 39.40 % 39.40 % Effective income tax rate 0.00 % 0.00 %
9. Preferred stock As of December 31, 2005, the Company has commitments to provide preferred stock to PCI and LexReal (see Notes 1 and 7). The class B preferred stock ($1 par value) committed to LexReal is convertible to 7,300,000,000 shares of common stock.
10. Common stock October 10, 2005, the Company increased its authorized shares of common stock from 3,000,000 shares with a par value of .05 to 5,000,000,000 million shares with a par value of .001. All common stock activity has been adjusted to the .001 par value in the accompanying consolidated financial statements.
During the year ended December 31, 2005, the Company issued 2,277,253,729 shares of new common stock to the majority shareholder and 10,000,000 shares to an outside investor. The shares were issued primarily for compensation. Included in general and administrative expenses for the year ended December 31, 2005 is approximately $27,600,000 of beneficial interest. The value for the consideration was based on the fair market value of the shares on the date of issue.
For the year ended December 31, 2004, 1,402,619,771 new common stock shares were issued, to which 1,344,693,154 shares are considered restricted, as follows:
For the year ended December 31, 2004, the Company issued 873,777,544 shares of common stock for the conversion and/or satisfaction of debt. Of these shares issued for debt, a total of 758,833,001 shares were issued to the majority shareholder. Included in general and PLASTICON INTERNATIONAL, INC.
Notes to the Financial Statements, continued (Unaudited)
10. Common stock, continued administrative expense for the year ended December 31, 2004 is approximately $71,850,000 of beneficial interest relating to these share transactions. The value for the consideration was based on the fair market value of the shares on the date of issue.
For the year ended December 31, 2004, the Company issued 64,132,688 shares of common stock in consideration for cash received by the Company from third parties as a part of a private placement completed in 1995, of which 43,904,912 shares were issued to the Company’s president and a related party.
11. Subsequent events In January 2006, the Company acquired all the stock of SEMCO Manufacturing (SEMCO), a Nevada business that manufactures and sells concrete coating products.
The purchase terms are payment of $2,650,000 consisting of $650,000 in cash (amount paid as of 12/31/2005 and included in other long-term assets) and $2,000,000 in performance payments (50% of Net Profits as defined) plus Plasticon restricted common stock worth $100,000. Additionally, the Company will pay a royalty payment (4% of Net Profits as defined) for twenty years beginning after the $2,000,000 of performance payments are made. The agreement includes a five year employment agreement with a base salary and other benefits specified.
Management is in the process of gathering information to apply purchase accounting to the SEMCO acquisition. The operations from SEMCO will be included in theoperating results of the Company starting February 1, 2006.
On April 4, 2006, the Company increased authorized shares of common stock to 13,500,000,000 shares. Also on that date the authorized shares of preferred stock increased to 6,000,000,000 shares. PLASTICON INTERNATIONAL, INC.
Notes to the Financial Statements, continued (Unaudited) 11. Quarterly Information (Unaudited) Set forth below is the Company's quarterly financial information for the fiscal years ended December 31, 2005 and 2004: Three Months Ended March 31, 2005 June 30, 2005 September 30, 2005 December 31, 2005 Revenues $ 82,370 $ 52,874 $ 1,721 $ 33,844 Loss before beneficial interest (majority shareholder) (584,552) (510,416) (1,447,896) (1,190,283) Net loss (2,507,552) (510,416) (7,974,896) (20,341,283) Basic and diluted loss per common share 0 0 0 (0.01) Basic and diluted weighted average share common shares outstanding 1,636,096,621 1,821,522,928 1,942,609,439 2,164,757,608 Three Months Ended March 31, 2004 June 30, 2004 September 30, 2004 December 31, 2004 Revenues $ 0 $ 0 $ 0 $ 0 Loss before beneficial interest (majority shareholder) (538,674) (225,488) (385,406) (648,987) Net loss (538,674) (72,075,488) (385,406) (648,987) Basic and diluted (loss per common share 0 (0.09) 0 0 Basic and diluted weighted average share common shares outstanding 354,434,632 846,531,237 1,010,635,173 1,026,556,648 Management’s Discussion and Review of Unaudited 2005 Financial Statements The Company wishes to inform its shareholders and the public regarding the 2005 financial statements and the outlook going forward. We would first like to call your attention to the Consolidated Balance Sheet, page 1, regarding Total Assets for 2005, vs. Total Assets for 2004. Regarding the 2005 year-end December 31 st, please note the increase in Assets from $659,549.00 in 2004 to $6,684,730.00 in 2005. This represents an increase of over 1000% in Total Assets. On page 2 of the Consolidated Balance Sheet, regarding Total Liabilities in 2005 vs. Total Liabilities for 2004. Total Liabilities in 2005 were $5,197,620 while Total Liabilities for 2004 were $10,665,501. This represents a reduction of the Total Liabilities from 2004 to 2005 of 52%.
The Company’s Assets exceed its liabilities based on current financial reporting, which does not include the SEMCO acquisition or the independent appraisal of the Company’s patents and molds. In addition, the Company has an asset of loss carried forward, in the amount of $12,821,185. This asset will offset future tax liabilities against earned income.
On page 3 of the Statement of Operations, regarding loss from operations and net loss, this figure represents a bookkeeping entry according to GAAP (Generally Accepted Accounting Practices) and FASB (Financial Accounting Standards Board practices) called Beneficial Interest Expense. The entry of Beneficial Interest Expense has nothing to do with loss from operations, but is simply a bookkeeping entry of shares issued during the year 2005. This figure represents the issuance of stock and is a direct reflection of that issuance, and not loss from operations or net loss. Please note the decrease in Beneficial Interest from 2004 to 2005 of 57%.
Regarding page 3 of the Statement of Operations, basic and diluted loss per common share. Please note the decrease from 2004 to 2005 of .07 to .01 respectively, which represents a decrease in loss per common share of 86%. This trend shows the Company is close to positive earnings per share, and in fact, will show in net positive earnings per share in 2006.
The Company is pleased to have completed its unaudited financial statements and posted them on www.pinksheets.com and will shortly hereafter file its fully audited statements with the SEC and post them on www.pinksheets.com as well.
In general, as we reflect upon Plasticon’s December 31, 2005 year-end financial statements, every aspect shows positive trends for the Company and we are confident that FY 2006 will be the most positive year for Plasticon International, Inc., in terms of sales and earnings. The Company has begun the second stage in the life of this organization and has commenced its initial growth years with the first quarter of 2006. We base this on two major acquisitions, Pro Mold, Inc. and SEMCO Mfg, Inc., as well as the rollout of our major distribution contract with the nation’s largest distributor of building materials.
The first quarter of 2006 has been a dramatic turnaround in sales and earnings for the Company, and this will be reflected in the audited quarterly statements for 2006.
DOCUMENTATION: INDEPENDENT APPRAISAL OF PLASTICON’S PATENTS AND INJECTION MOLD INVENTORY
Based on an independent appraisal (see enclosed documents), the Company’s patents and injection mold inventory are conservatively valued at $20,000,000.00. The enclosed independent appraisal clearly reflects that historically, when patents face a court challenge and those patents are subsequently validated, this in and of itself can increase the value of the patents from 400% to 500%. In addition, if a patent has commercial viability and has in fact demonstrated salability in the marketplace, the value of the patent(s) increase substantially. According to the independent appraisal, Plasticon’s “technology has demonstrated its worth over approximately 10 years of commercial production…The Company’s patents disclose commercially viable new and innovative technology with obvious and demonstrable present and future earning capability.” Therefore, the estimate of $20,000,000.00 in value of patents and injection molds is extremely conservative.
Management’s Historical Overview of the Company
There were no material events that occurred in 2003 that would alter the company’s plan of operation. We continued to attempt to move forward with our business plan, which is to design, engineer produce and distribute high quality concrete accessories, transportation signage, and plastic lumber, which are all produced from recycled and recyclable plastics.
After lengthy negotiations, the company signed an exclusive purchase contract and supplier agreement with Georgia Pacific, effective date February 1, 2004. This contract allowed for major distribution of the company’s patented line of concrete accessories, specifically its rebar support products.
Due to the exclusive agreement with Georgia Pacific, the largest supplier of building materials in the United States with 63 strategically located warehouses and numerous subsidiary warehouses throughout the country, the company is positioned as the largest distributor of rebar support products in the United States.
In addition to its unique distribution position, the company is also the first manufacturer in its sector with DOT approval or acceptance in all 50 states and territories in the U.S., all provinces in Canada, and in parts of the Caribbean. This competitive advantage gives the company the ability to distribute its patented line of rebar support products that are used in the construction of bridges, highways, roads, buildings and other infrastructure.
Our efforts and potential for success have been predicated on the company securing significant investment funding to carry out our business plan.
Beginning in early 2005, the company received a major infusion of capital, which empowered the company to begin to successfully execute its business plan.
As a result of this infusion of capital, the company was able to move forward and maintain its position as an innovator in the industry. The company continued its commitment to a large capital investment in R&D, which resulted in the company receiving its most recent patent for the PAC Chair III in January 2005. To date, the PAC Chair III is the most versatile individual rebar support product in the industry.
Additionally, the company continues to innovate with the latest improvements in mold technology. The company’s new Slab Bolster mold will increase production capacity by 600%, allowing for a major step forward in production efficiencies and a substantial lowering of output costs.
The capital infusion also allowed the company to complete two major acquisitions in 2005:
· Pro Mold, Inc., an injection mold facility located in St. Louis, Missouri
· SEMCO Manufacturing, Inc., a manufacturer of proprietary line of coating products located in Las Vegas, Nevada.
The acquisition of Pro Mold, Inc. allows the company, for the first time in its history to completely control the manufacturing process from procurement of the resins to production of the end user product.
SEMCO was an attractive acquisition for the company, because its proprietary coating products will work synergistically with the company’s rebar support products.
SEMCO’s products waterproof any surface they are being applied to and specifically would be applicable to DOT projects, such as waterproofing bridge decks and other infrastructure in the United States.
Due to the unique nature of SEMCO’s versatile coating products that chemically cross link to the surface they are being applied to, SEMCO’s surfacing systems allow for multiple applications and distribution in a wide variety of markets.
Funding from the capital infusion was used to pay for the Pro Mold, Inc. and SEMCO Manufacturing, Inc. acquisitions. The purchases of both of these 100% wholly owned subsidiaries have been completed and the cash requirements have been paid. These acquisitions are complete pending SEC filings.
Due to Plasticon’s unique, patented recycled plastic products as well as Plasticon’s recent acquisitions, the company is positioned in markets that have multi-billion dollars in annual sales. The market size for rebar support products is $30 billion annually, and due to exponential growth of emerging markets, is growing exponentially every year. The Informational and directional signage marketplace is a $20 billion industry in the United States alone. The plastic lumber industry is approaching $1 billion in the U.S. and is rapidly gaining market share over traditional wood products. Surfacing products are a multi-billion dollar per year industry. The world flooring industry alone is a $95 billion per year industry. This represents one piece of the opportunity for a surfacing system such as SEMCO’s Ultimate Surface effects, which have applications in multiple markets, such as wall coverings, a variety of interior and exterior applications including asphalt coating, building construction, pool and deck coatings, residential and commercial applications such as bathroom and kitchen projects, and outdoor walkways, to name a few.
Throughout 2004 and 2005, the company spent a great deal of its time gearing up and gearing down in the production cycle. During this time, in cooperation with Plasticon and BlueLinx Corporation (a wholly owned subsidiary of BlueLinx Holdings, Inc.) engineers, the company has developed new quality control protocols that will allow Plasticon to ramp up production without interruption, allowing 2006 to be the breakout year for sales and earnings going forward. At the present time, the company recently received 12 purchase orders from BlueLinx. The company is now poised to continue growing sales throughout 2006 and into the future.
The company will continue to make substantial investments in R&D in order to maintain its edge as a leading innovative force in the industry. At the same time, because quality control and production issues have been addressed and resolved, thecompany can now turn its attention to growing sales and earnings going forward.
Having an exclusive multi-million dollar contract with BlueLinx, the largest distributor of building materials in the U.S., gives the company a stable sales and earnings growth for the foreseeable future and affords the company a major competitive advantage in the industry. This uniquely positions the company to focus on gaining market share over the next several years.
Given the fact that recycled plastic rebar supports have only recently begun to penetrate and gain market share in the rebar support industry, Plasticon is perfectly positioned to grow based on the following industry trends:
· The cost of steel continues to rise and will likely continue to increase over the years due to world demand. Recycled plastic products represent a costcompetitive, effective alternative.
· Environmental regulations have become increasingly strict. This trend is driving companies and government entitles to seek environmentally-friendly solutions.
· The company’s business is built on recycling, which affords Plasticon’s an incredibly abundant source of raw materials for its products.
· Increased construction domestically and internationally. A Company Review and History of the Production Cycle from 2003 through 2005 Negotiations began with Georgia Pacific in mid 2003. A subsequent purchase contract and supplier agreement was signed on February 1, 2004. The initial contract was for $5.3 million. Plasticon began gearing up production based on purchase order releases from Georgia Pacific’s contract requirements.
It was shortly after this time frame that Georgia Pacific sold its entire distribution network to a new company called BlueLinx Holdings, Inc., operating through its wholly owned subsidiary, BlueLinx Corporation. At the time of Georgia Pacific’s sale of the distribution arm to BlueLinx Holdings, Plasticon was informed that they should halt production until further notice, based on the pending sale.
On May 10, 2004 Georgia Pacific completed the previously announced sale of its building products distribution business to BlueLinx. At this point in time, BlueLinx informed Plasticon International that the company needed time to re-brand and redesign distribution, marketing, packaging, literature and legal materials, therefore Plasticon halted all production until this process was completed. Therefore, Plasticon halted production while BlueLinx completed this process.
In the Fall of 2004, Plasticon geared up for production on the original purchase orders from the Georgia Pacific contract that now became the property of BlueLinx as a part of the sale. No sooner did this process take place, than production was put on hold once again while BlueLinx completed its initial public offering.
We were then asked to gear up for early 2005 production, which now placed us one year behind on the original contract with Georgia Pacific, based on the corporate sale and IPO of BlueLinx.
At this point in time, as Plasticon geared up for production in the first quarter of 2005, for the first time in the history of the company, the manufactured product did not meet standards as specified in the original contract with Georgia Pacific. This was the first and only time that the company produced substandard product due to an inferior order of recycled resins, which caused further delays in the production cycle and deliveries.
As a result, BlueLinx and Plasticon’s engineering staff created a whole new set of specifications and standards of quality for the manufacture and delivery of our products. Once this process was completed, a renegotiation of the purchase contract began with BlueLinx and Plasticon’s legal staff, resulting in a newly signed agreement on October 17, 2005.
As part of the renegotiated purchase contract with BlueLinx, Plasticon agreed to take total control of the manufacturing process, thus Plasticon initiated the acquisition of Pro Mold, Inc., a now wholly owned subsidiary of Plasticon International, Inc.
Plasticon made a business decision that from that point forward they would primarily rely on their own manufacturing facilities where they would be able to have complete oversight of all quality control issues for the manufacture and delivery of Plasticon’s products. As a result of the lack of continuity in the production cycle during 2004 and 2005, revenues were not what the company expected. Posts: 806 | Registered: Jun 2005 | IP: Logged | Report this post to a Moderator YellowSubmarine Member
Icon 1 posted 25 April, 2006 11:21 Profile for YellowSubmarine Edit/Delete Post Plasticon Posts 2005 and 2004 Financial Statements and Disclosure Document on www.pinksheets.com[/i]
LEXINGTON, KY, Apr 25, 2006 (MARKET WIRE via COMTEX) -- Plasticon International, Inc. (OTC: PLNI) is pleased to announce that the company has posted unaudited 2005 and 2004 financial statements and a full disclosure statement on www.pinksheets.com, with audited financial statements to follow Plasticon's financial statements do not include results of operations from the SEMCO Manufacturing and Pro Mold acquisitions and back orders from their exclusive distribution contract with the nation's largest distributor of building materials. Additionally, the financial statements do not reflect patent and mold valuations, which are footnoted in the financial statements. At present, an independent appraisal of the Company's patents and molds is in excess of $20,000,000.00. For more information regarding the independent appraisal, please see supporting documents attached to financial statements.
According to Jim Turek, President and CEO, "The Company is pleased to have made progress with its accounting issues and as we prepare to file audited financial statements with the SEC, Plasticon will now turn its attention to the issue of the share structure of the Company. With that in mind, we have retained legal representation along with logistical support organizations and have begun the process of preparing its SEC filings and subscription agreements in order to proceed with the buy back program. The Company has instructed its legal representation and logistical support organizations that we fully intend to proceed with the buy back program immediately. We expect an announcement regarding the commencement of the buy back to be forthcoming."
About Plasticon International, Inc.
Plasticon International (www.plasticonintl.com) designs, produces, and distributes high-quality concrete accessories, informational & directional signage and plastic lumber, which are all produced from recycled and recyclable plastics. Plasticon is a leader, an innovator of cutting edge design, engineering, and production of industrial and commercial products. Plasticon is a green company, environmentally friendly, using recycled plastics to produce its line of products.
Contact Investor Relations: Rodney Marvel Ph: 866 843 2775 SOURCE: Plasticon International, Inc.
Posted by Bearclaw on :
EOD run very possible...Folks may buy in anticipating an after hours PR on a possible variety of news...IMO...GLTA
Posted by Bearclaw on :
Posted on RB by 2little2late...great post from our Canadian friend......food for thought...
Msg. 56270 of 56283 Jump to msg. # I am a Canadian bookkeeper and Tax Planner/ Preparer. Unaudited Financials are just a big step towards Audited Financials. Rest assured, the unaudited financials were prepared by accountants also, most likely through the work of bookkeepers lol. This tells me the Audted Financials are on the way.
YEEEHAA for those of you who don't understand english or financials.
- Buyback program is to be outlined shortly. - sales turnaround in 1st qtr 06 - audited financials are well under way IMHO - I expect details of new contracts soon - filing to transfer to OTC BB shortly
A few comments about Losses They can be carried forward and used against future earnings and since they have already been accounted , they are IMHO now an Asset of sorts as they will allow us tax free earnings until written off. It is not unusual for Pink Sheet and OTC companies to have huge losses in the millions. Sucessful ones will eventually earn the earnings to write them off. the more losses we have the more earnings can now be written off.
Declining Revenues by quarter there was declining revenue but was successfully explained. PLNI did not control the manufacturing and could not effectively monitor quality. With the purchase of Promold that is no longer an issue. I do expect improving revenues 1st qtr 06 and thereafter.
Things are finally looking up but if this was rolled out 1 month ago we would be trading at about .007 or higher IMHO.
Posted by imakmony2005 on :
nice bear.
Posted by imakmony2005 on :
AM GAP???
Posted by Bearclaw on :
Think so...
quote:Originally posted by imakmony2005: AM GAP???
Posted by imakmony2005 on :
Me too.
Posted by Bearclaw on :
Good day...see folks in the A.M...
Posted by Chopper on :
Up nearly 24% close of the day on an UT at .0052 with 123 million traded. And we are on the cusp of breaking the 50 day moving average line. A couple more clicks and were off to the 200 ma line just below .01.
Did anyone notice that 6 million share buy after hours? Nice EOD longs and new folks. GLTA Posted by Chopper on :
Gapper in the am. GOOOOO PLNI
Posted by Bearclaw on :
Confirmed Buy American Bulls Issued after trading today...
PLASTICON INTL INC Daily Commentary
Our system posted a BUY CONFIRMED today. The previous SELL recommendation was issued on 04.12.2006 (13) days ago, when the stock price was 0.0050. Since then PLNI has gained 4.00% .
BUY-IF is confirmed by a white candlestick with a higher open. The buying price is today's open ( 0.0048 ) according to the Rules of Confirmation.
Why Compromise? Trade Smarter with Fidelity
Patience pays off. The market wavered a bit but finally confirmed the recent bullish formation. The dose of the previous day was not enough for a confirmation but today it is. The market opened with a gap-up and the day’s activity resulted in a close higher than the open. This is a valid confirmation criterion. The market seems ready for a new bullish move.
The slight failure of the previous SELL signal is currently confirmed, too. We closely monitor the performance of the signals, but a few shots missing the target slightly are inevitable when you deal with the stock market. However, such signal failures are more unlikely for higher rated stocks.
We hope that you bought this stock . Today you were supposed to watch the upward gap in the opening, wait a bit, feel the bullish tendency of the market making sure that prices stay over the opening price and then go long. Your benchmark was the opening price of the upward gap.
If you bought, continue to hold this stock until the confirmation of the next SELL-IF signal. You are on safe grounds as long as the future prices continue to trade above the benchmark price and if an emergency warning is not issued. What to do if you did not buy? Maybe, you did not have time to follow the session or you simply delegated the delicate job of confirmation to us. Well it is a bit late, but not too late. You may still find suitable prices for buying in the following sessions.
The market is currently cold for short-sellers. Avoid any short sales and cover the short positions immediately if there are any. We erred on the short side last time but we hope that this is just an exception.
Posted by YellowSubmarine on :
You guys need to keep in mind that there is a MAJOR planned IR/PR campaign ready to roll out over the next several months.
You can burn a lot of 'commish' money flipping and farting around, but you'll probably do better constantly buying on any dips for a long term HOLD.
$10 bucks worth of 'commish' on a SELL, would have still bought you a good handful of shares at these prices.
PS & O/T: If you're not in ACHI and RSHN bigtime also, then you've missed the freakin' transoceanic canoe......
.
Posted by lukin4winners on :
All indicators looking very good this morning. Even american bulls has a buy confirmed fwiw. Looking good for a gap .0054x.0055 5:52 am pst. Would love to see .006 50 sma hit sometime today and a confirmation pr by JT. Let's goooooo. http://stockcharts.com/h-sc/ui?s=plni&p=D&yr=0&mn=6&dy=0&id=p85870896926 Posted by beefcake on :
Getting off to a slow start today, Ton of volume yesterday. Hopefully it will started getting some today.
Posted by imakmony2005 on :
its green.
Posted by imakmony2005 on :
selling???? gonna be sorry.lol up up up
Posted by successinstock on :
Looks like the daytraders from yesterday exited. I look forward to the "clear up" on the pinksheets.com website and added news on the "audited" financials.
I hope you are all doing great today.
Posted by lukin4winners on :
PLNI needs some volume and follow up news and a break of .0049 and it should move again imo
Posted by imakmony2005 on :
oh it will, gonna go UP. IMO
Posted by imakmony2005 on :
bump
Posted by unreal33 on :
wow, were up 943% ...at least Ameritrade thinks so
Posted by alohadream on :
Scottrade showed almost a 1000% increase for a few minutes then it was back down to normal.May be a signal or a sign of things to come so bought 100,000 more shares to add to my original 100,000 shares which for a few minutes was over $4500 in value.PLNI has been languishing long enough and think it due for a RSHN-like climb.
Posted by imakmony2005 on :
yes it is. alohadream
Posted by lukin4winners on :
Sure would be nice to get a PR today or next week from management with a release date for the audited financials. I spoke to IR and they couldn't give me a definitive timeline only that updates would be forthcoming.
Posted by successinstock on :
let's hope they follow up this week on audited numbers and give us some insight on business that is taking place right now.
I would like to hear what kind of revenue they are producing since the acquisitions have taken place.
GLTYA
Posted by ed19363 on :
Are we screwed now or what??
Posted by Chopper on :
Watch out folks!!! Things are going to ramp up! PLNI just filed with the SEC their 2003 and 2004 10k's. That's a great thing!
Who keeps putting in 'SELL IF..' orders on this thing?
I'm thinking the MMs don't have any real shares to sell, but UBSS sure does know how to find 'em.
OK, so I benefitted by getting cheap shares, but I would rather see this go long for everyone - SO STOP WITH THE TRIGGERS ALREADY!
Posted by imakmony2005 on :
???????????????
Posted by nar31977 on :
LOLOLOL.........UN AUDITED .............HAHAHAHAHA......PLNI is SOOOO ****ed.............THE LAST 5 MONTHS they have been SAYING their AUDITING, NOW they spew out NUMBERS that they say are UN AUDITED so they cant be held accountable............LOLOL
Ive heard of investors pumping but THE COMPANY SO BLATENTLY doing so.........
Posted by stolibox on :
well, i read thru the 10k and what i got from it were all the pr's from 2004 were lies and they have accumulated over 75million dollars in debt while they were saying they had little to no debt. jeez. and bluelinx and washington dc projects rejected their products because they were of inferior quality, yikes. on a positive note they say 2006 should be the breakout year for plni...
Press Releases 2004
On June 14, 2004, we announced that we reached an agreement to acquire A.T.G. Sports Industries, Inc. in an all-stock transaction. A.T.G. Sports Industries, with a history spanning over 24 years, is based in Andover, Kansas, and develops and installs artificial athletic surfaces for indoor and outdoor sports applications such as tennis, soccer, football, baseball, rugby, running tracks and field hockey. The Company also develops and installs a wide variety of surfaces for a many court-based sports as well as public parks and playgrounds.
While we have not completed this acquisition, there is still ongoing dialogue concerning construction products to be produced by PLNI. As a requirement of this acquisition, audited financials from ATG were to be presented to us within sixty days. As of December 31, 2004, these financials were not provided and as a result, we were unable to proceed.
On June 17, 2004, the Company announced that that it had received “three follow-on orders in excess of its existing contracts related to three major Washington, DC area projects. That the additional orders would have added in excess of $300,000 in sales to the Company’s rebar supports” (sic).
On June 23, 2004, we put out a press release projecting an increase in revenues since delivery of our rebar supports products was to begin through our national distributor, Georgia Pacific.
In an effort to procure raw resin that would decrease output costs and increase overall efficiency of the Company’s production cycle, materials were procured from a new source based on our specifications to the vendor. Unfortunately, due to misrepresentations by the resin supplier, the materials which we procured were of substandard quality and did not meet minimum engineering specifications. It was for this reason that the parts produced during this cycle of production were of inferior quality and were rejected by our national distributor. As a result of faulty raw resin, the production cycle and delivery of materials were interrupted, causing delays in the rollout of the contract with our national distributor. This effectively halted the orders with our Washington, DC projects and to the distribution center sales based upon the minimum requirements of the contract with our distributor.
On June 28, 2004, we published a letter which we had sent to all our shareholders in which we made several and various representations which were based upon in-house projections by our acting CFO at the time, Edward Gartska. It was our intention to refocus our efforts on procuring high quality materials that would exceed minimum engineering specifications. The process of procuring these high quality raw resins necessary to complete the specific molds was a problem which was beyond our control and consequently, took longer than expected causing further delays in the production and delivery cycles.
Again, on July 6, 2004, based upon a realistic assessment of the potential opportunities for growth, we put out an announcement modifying our projected revenues. Unfortunately, these projections were not reached due to the fact that the procurement process in reestablishing agreements with high-end raw resin suppliers was a more lengthy and complicated negotiation that ever anticipated. It is evident that it was not completed within a time frame that would have allowed for the Company’s projections to have been met.
July 12, 2004, we announced that we expected out audit to be completed within “90-120
days”. After in-depth discussions with L.L. Bradford and Company, the auditors, this was a time frame which they felt was realistic. However, negotiations with the auditors regarding the costs became a lengthy and exhaustive process as they soon began to exceed Company’s “initial expectations”. Our ability to move forward with this process was severely hampered, causing prolonged delays.
On July 26, 2004, we announced that we had received $40,000 in revenue from delivery of rebar support products. However, we never realized those projected revenues because soon after the press release, we had to recall the product because we discovered some faulty resins that did not meet specifications.
Although the purchase orders specified by our national distributor continued to be realized, we were unable to make timely deliveries and meet distributor demands due to an untimely and lengthy negotiating process in the procurement of superior resins. This was an unfortunate development that caused extensive delays in the Company’s ability to manufacture product and meet production cycles.
Apparently the products we shipped to the companies in Washington, DC had structural problems and were sent back to us with a request that we correct their concerns.
On September 14, 2004, a press release that was initially published on June 17, 2004, was inadvertently re-published.
We continued to struggle through negotiations for the procurement of high quality resins and was unable to successfully conclude negotiations for the procurement of these materials for a protracted period of time, completely curtailing the production and delivery of its rebar support products.
October 11, 2004, we announced that we entered into a Letter of Intent to acquire XYLOX of North America, Inc. Upon further due diligence, we determined that although the material was workable in small sizes, we could never validate that in full production, the product’s true commercial viability and more importantly, its compatibility with other product lines. We decided not to proceed with the acquisition.
On December 14, 2004, we announced that we had product being shipped to the BlueLinx distributors. BlueLinx contended that the products received were unacceptable and improperly dated. At that time, we realized that we needed to secure a more reliable and trustworthy resin source and recalled the shipments.
Posted by Bearclaw on :
Hey Stoli... Old news buddy...
These are audited financials...Now we need the audited financials for 2005 then for the 1st quarter of 2006...The story will then be told and complete...Yes? This is a nice development for folks who have been hanging in with Turek and his road show...
Try not to get a wild hair up your arse until we see those remaining numbers...Chill IMO...
Posted by nar31977 on :
Guys.....good luck on getting ANYTHING truthfull from PLNI.........
Posted by ed19363 on :
Sorry, guys, all I read out of this is that they have piled up 75M in losses, trying to sell an inferior product. Anybody who can read anything positive into this report had better lose the rose-colored glasses in a hurry.
Posted by successinstock on :
are you negative about everything or is it just PLNI?
Posted by DQ. on :
I bailed earlier...but I have to break down and admit I bought another Mill. shares. Things are starting to look promising to me. Be it next month or in the next 6 months. I'm a PLNI'er again. Where's ol' Cold up here????? Need him back!
Posted by ed19363 on :
quote:Originally posted by successinstock: are you negative about everything or is it just PLNI?
I tend to get negative about any stock that I own for more then 2 years and the company does not fulfill it's promises, PPS hardly ever moves. It just seems that "someday" never comes. Plus, over the years I have seen so many companies that just turned out to be ripoffs. CMKX, NCDP and RVMO to name a few. The jury is still out on PLNI, but none of us is getting any younger.
Posted by Bearclaw on :
Ed... This stock moved up and down for a long time...It was a beautiful stock to Swing Trade...Recently that movement has stalled and probably will stay that way until the CEO follows through on the promises you mentioned......I just wanted to get the record straight on that item where you said the PPS hardly moves...That is a recent development the past few months...
I started swing trading PLNI over a year ago and it has been good to me in that respect... accumulating shares and/or banking the profits...I'm hoping it does that again...
Posted by ed19363 on :
That may be my problem....I dont swing trade. I look for an honest company that I can invest in for the future. Problem seems to be that penny stocks dont think about "future". They make promises that they never keep, so I end up with vast amounts of money tied up in stock I cant get rid of without taking a loss. I'm not crying, it's a risk we all take playing the markets. If I ran my business like most of these penny stocks, I would have filed for bankruptcy years ago.....LOL
Posted by successinstock on :
than why do you invest in penny stocks? what attracts you to PLNI?
Posted by imakmony2005 on :
$$$$$$$$$$$$$$$$$$ for me
Posted by stolibox on :
if you've owned this stock for 2 years, it has moved huge.
Posted by successinstock on :
yes it has....and been a profitable one too.
Posted by Homerunner on :
Plasticon International Inc. Completes Audited Financial Statements
Plasticon Completes Audits and Submits Filings to the SEC
LEXINGTON, KY, May 08, 2006 (MARKET WIRE via COMTEX) -- Plasticon International, Inc. (OTC: PLNI) is pleased to announce they have completed their Audits and have submitted its filings to the SEC. Plasticon International Inc. has completed their audits for 2003 and 2004 and will now move expeditiously to complete their audits for the year end 2005 and the first quarter of 2006. Plasticon International's financial statements have been audited by Mendoza Berger Company, L.L.P., CPA, who has served as the independent auditor for the Company during the fiscal years ended December 31, 2004 and 2003. Plasticon International's financial statements have been filed along with an information statement on www.pinksheets.com. The Company is presently nearing completion of the 2005 audit and expects to make its filings available in the near future, along with the first quarter of 2006.
Upon completion of the 2005 year end audit and the first quarter of 2006, which the Company fully expects to have the very near term, Plasticon will submit the necessary filings to move the Company to the OTC:BB.
"We have commissioned a leading Market Maker to submit the necessary filings with the SEC and NASD to move the Company up to the NASDAQ Bulletin Board," said Jim Turek, President and CEO of Plasticon International, Inc. "It is our goal to move the Company to the NASDAQ Bulletin Board as quickly as possible. Once we have completed the move to the OTC:BB, we will then focus on bringing the Company to the American Stock Exchange."
Mr. Turek added, "This is a very exciting time for Plasticon International, Inc. This is truly a milestone for the Company. By completing its audits, Plasticon is moving forward and getting closer to its goal of moving to higher markets. In the coming days and weeks, the Company will be making additional financial information available to its shareholders and the public, which will include un-audited financial statements for the first quarter of 2006. These numbers will clearly show a dramatic turnaround in the sales and earnings of the Company and demonstrate unmistakably that the Company has turned the corner has now begun the initial stages of its growth years. Upon making the first quarter of 2006 financial statements available to our shareholders and the public, we fully anticipate being re-quoted on www.pinksheets.com."
Mr. Turek also noted, "There are many significant developments regarding sales that the Company will be discussing with its shareholders and the public in the coming days and weeks. Additionally, we will be implementing the buy back program and addressing the share structure of Plasticon International, Inc. Once again, the Company wishes to be clear that there are no plans for a reverse split now or in the future. The Company fully intends to address the restructuring of Plasticon's issued and outstanding shares through the buy back program, and we fully intend to commence the buyback in the very near term."
Posted by BuyTex on :
zowee
quote:Originally posted by Homerunner: Plasticon International Inc. Completes Audited Financial Statements
Plasticon Completes Audits and Submits Filings to the SEC
LEXINGTON, KY, May 08, 2006 (MARKET WIRE via COMTEX) -- Plasticon International, Inc. (OTC: PLNI) is pleased to announce they have completed their Audits and have submitted its filings to the SEC. Plasticon International Inc. has completed their audits for 2003 and 2004 and will now move expeditiously to complete their audits for the year end 2005 and the first quarter of 2006. Plasticon International's financial statements have been audited by Mendoza Berger Company, L.L.P., CPA, who has served as the independent auditor for the Company during the fiscal years ended December 31, 2004 and 2003. Plasticon International's financial statements have been filed along with an information statement on www.pinksheets.com. The Company is presently nearing completion of the 2005 audit and expects to make its filings available in the near future, along with the first quarter of 2006.
Upon completion of the 2005 year end audit and the first quarter of 2006, which the Company fully expects to have the very near term, Plasticon will submit the necessary filings to move the Company to the OTC:BB.
"We have commissioned a leading Market Maker to submit the necessary filings with the SEC and NASD to move the Company up to the NASDAQ Bulletin Board," said Jim Turek, President and CEO of Plasticon International, Inc. "It is our goal to move the Company to the NASDAQ Bulletin Board as quickly as possible. Once we have completed the move to the OTC:BB, we will then focus on bringing the Company to the American Stock Exchange."
Mr. Turek added, "This is a very exciting time for Plasticon International, Inc. This is truly a milestone for the Company. By completing its audits, Plasticon is moving forward and getting closer to its goal of moving to higher markets. In the coming days and weeks, the Company will be making additional financial information available to its shareholders and the public, which will include un-audited financial statements for the first quarter of 2006. These numbers will clearly show a dramatic turnaround in the sales and earnings of the Company and demonstrate unmistakably that the Company has turned the corner has now begun the initial stages of its growth years. Upon making the first quarter of 2006 financial statements available to our shareholders and the public, we fully anticipate being re-quoted on [url= http://www.pinksheets.com."]www.pinksheets.com."[/url]
Mr. Turek also noted, "There are many significant developments regarding sales that the Company will be discussing with its shareholders and the public in the coming days and weeks. Additionally, we will be implementing the buy back program and addressing the share structure of Plasticon International, Inc. Once again, the Company wishes to be clear that there are no plans for a reverse split now or in the future. The Company fully intends to address the restructuring of Plasticon's issued and outstanding shares through the buy back program, and we fully intend to commence the buyback in the very near term."
Posted by DQ. on :
How's THAT for a bit of news folks????????? Yippy!!
Posted by ed19363 on :
Finally !!!
Posted by Murnak on :
GB update is interesting.... Monday, May 8, 2006
Special Update from GB!
Plasticon Intl. (PK; PLNI)
News Alert: PLNI Issues Press Release before Market Open
Plasticon International Inc. Completes Audited Financial Statements
On Tuesday, April 25, The Green Baron Report provided an update on Plasticon International following the Company’s announcement it posted its disclosure document and unaudited financial statements with www.pinksheets.com. Our update was intended to assure our members that we were staying the course and still expected the Company to make good on its promises over the past year. Since the press release, chatter on the message boards warn that the Company would never file audited financials, conduct a buyback program, file to go on the Bulletin Board, or explain its shares structure. Still others are scaring investors with unfounded rumors like an imminent reverse split.
We believe scare tactics have helped contain the upside in PLNI share price till now. PLNI stock has given back the entire rally on April 25 to close once again at .0042 per share on Friday May, 5, the same closing price it had back on April 24. Adding to the concern, it appears the newly merged TD Ameritrade is asking many of its clients that hold Plasticon stock to move their accounts. We still cannot get an answer from Ameritrade why they would want to cast aside good clients other than that it was a “business decision”. It looks to us like some pencil neck at TD Ameritrade may soon need to peruse the classifieds for a new job.
Today’s press release confirms that Plasticon has filed audited financials, will follow through with a buyback program, and fully intends to go to the Bulletin Board. The Company recognizes the need to further explain its share structure and the current condition of the company. It appears that Plasticon is very excited about numbers from the first quarter of 2006. CEO Jim Turek states, “These numbers will clearly show a dramatic turnaround in the sales and earnings of the Company and demonstrate unmistakably that the Company has turned the corner has now begun the initial stages of its growth years.”
On April 25, 2006 The Green Baron Report said, “Most importantly, we firmly believe that Plasticon still has absolutely no intention to reverse split its shares.” In today’s news that strictly refutes the reverse split rumors it says, “…the Company wishes to be clear that there are no plans for a reverse split now or in the future.” CEO Turek adds, “The Company fully intends to address the restructuring of Plasticon’s issued and outstanding shares through the buy back program, and we fully intend to commence the buyback in the very near term.”
We recognize that a lot of Green Baron members own Plasticon judging by the amount of email we receive. We have been promising our members an exclusive Green Baron webcast with CEO Jim Turek and Senior Consultant Bill Howe as soon as audited financials were filed. The Green Baron Report has already been in contact with them and they have kindly accepted our request for a webcast interview. We hope to have the webcast interview available by the end of this week, and will ask many of the questions you have sent us over the past several months.
Posted by DQ. on :
Where's all the PLNI'ers. It's time to load the wagon...get your tickets now!!! Been waiting on this news for 2 years.
Posted by Murnak on :
this is getting good!lol
"We have been promising our members an exclusive Green Baron webcast with CEO Jim Turek and Senior Consultant Bill Howe as soon as audited financials were filed. The Green Baron Report has already been in contact with them and they have kindly accepted our request for a webcast interview. We hope to have the webcast interview available by the end of this week, and will ask many of the questions you have sent us over the past several months."
Posted by imakmony2005 on :
Show me the money. lol, going up
Posted by clbgroove on :
Up Up and away!!!!
I gotta think they are going to smack the MM's right in the face when they do the restructure. There is a very good reason behind the AS increse and Turek forgiving debt for more shares! IMHO
Posted by imakmony2005 on :
This pups ready for the break out.IMO
Posted by DQ. on :
Where the hell are all the buyers?????????????????????
Posted by TickTrader on :
DQ, they're out kickin' rocks lookin' for sellers.
Posted by imakmony2005 on :
There late like always,lol
Posted by DQ. on :
Just kinda dissapointing today. This is great news that people have been waiting on forever. I thought we would have run to .01 today. I mean come on...a company can dump a can of 30 weight on the ground and yell WE ARE AN OIL STOCK and the crap will run to 15 cents...gimme a break.
Posted by gnulnx on :
DG: LOL Thanks for making me spit my drink on my computer!
Posted by buckstalker on :
DQ...lack of faith...too many broken promises...that's the problem here...GLTY
quote:Originally posted by DQ.: Just kinda dissapointing today. This is great news that people have been waiting on forever. I thought we would have run to .01 today. I mean come on...a company can dump a can of 30 weight on the ground and yell WE ARE AN OIL STOCK and the crap will run to 15 cents...gimme a break.
Posted by imakmony2005 on :
It's all in the timing....
Posted by buckstalker on :
LOL IMAK...believe me I'm watching very very closely...
Posted by DQ. on :
quote:Originally posted by buck*******: DQ...lack of faith...too many broken promises...that's the problem here...GLTY
quote:Originally posted by DQ.: Just kinda dissapointing today. This is great news that people have been waiting on forever. I thought we would have run to .01 today. I mean come on...a company can dump a can of 30 weight on the ground and yell WE ARE AN OIL STOCK and the crap will run to 15 cents...gimme a break.
Agreed, and I understand but this is one of those promises being fullfilled so that tells me they weren't all broken promises...that tells me things take time but are coming together. Time will tell.
Posted by imakmony2005 on :
Yes it will, As buck says, Its all in the timing.
Posted by buckstalker on :
Not bashing here DQ...just my take on the reluctance of buyers right now...personally I love this stock....have made some serious bank in the past with it and I plan to do it again in the near future...it's all in the timing!
Posted by greenman on :
So spread the word, lets make it run tomorrow.
Posted by buckstalker on :
Imak...tried to PM you but your mailbox is full...
Posted by greenman on :
Sorry. Double posted.
Posted by imakmony2005 on :
sorry buck, hey looking good here!
Posted by amos moses on :
It finally looks like something is going to turn this around. I have had great faith in plni for a long time and will hold to the end.
By the way. Does anyone know what happened to Fatheroftwo? HE seems to have dropped off the face of the earth. I have tried unsuccessfully to contact him. Does any one know How to get in touch with Him?
Posted by imakmony2005 on :
He got the boot by bob.
Posted by amos moses on :
Who or What is bob? and do you know why?
Posted by unreal33 on :
he can be found on the "other" board,
Posted by Chopper on :
Plasticon International, Inc. (PLNI) SqueezeTrigger Price Is $0.008; Approximately 794 Million Shares Shorted Since January 2005 According to ********** Research Report Wednesday May 10, 8:30 am ET
CORONA DEL MARA, CA--(MARKET WIRE)--May 10, 2006 -- WWW.********** is initiating coverage of Plasticon International, Inc. (Other OTC:PLNI.PK - News) after releasing the latest short sale data to May 2006. From January 2005 to May 2006 approximately 10.4 billion total aggregate shares of PLNI have traded for a total dollar value of nearly $83.5 million. The total aggregate number of shares shorted in this time period is approximately 794 million shares. The PLNI SqueezeTrigger price of $0.008 is the volume weighted average short price of all short selling in PLNI. A short squeeze is expected to begin when shares of PLNI close above $0.008. To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://WWW.**********. Month Total Vol. Short Vol. Avg. Price Short $ Value ----- ---------- ---------- ---------- ------------- January ’05 99,733,360 7,679,469 $0.003 $ 23,038 February 162,740,080 12,530,986 $0.003 $ 35,087 March 69,280,392 5,334,590 $0.003 $ 15,470 April 105,720,168 8,140,453 $0.003 $ 23,607 May 1,030,887,616 79,378,346 $0.011 $ 849,348 June 639,579,456 49,247,618 $0.015 $ 753,489 July 450,594,752 34,695,796 $0.015 $ 530,846 August 429,448,672 33,067,548 $0.013 $ 423,265 September 423,765,856 32,629,971 $0.013 $ 437,242 October 462,601,408 35,620,308 $0.010 $ 370,451 November 964,371,008 74,256,568 $0.007 $ 534,647 December 940,215,360 72,396,583 $0.005 $ 383,702 January ’06 2,114,025,728 162,779,981 $0.005 $ 862,734 February 1,082,063,104 83,318,859 $0.007 $ 541,573 March 658,098,944 50,673,619 $0.006 $ 298,974 April 678,449,664 52,240,624 $0.005 $ 261,203 May 92,029,720 7,086,288 $0.004 $ 31,180
* short volume is approximated using a proprietary algorithm. ** average short price is calculated using a volume weighted average short price. *** short volume is the total short trade volume and does not account for covers.
PLNI On OTC Naked Short Threshold List
Start End Days on List
January 7, 2005 January 13, 2005 5
February 14, 2005 February 18, 2005 5 ADVERTISEMENT
Plasticon International, Inc. has been on the OTC Naked Short Threshold list two times. Regulation SHO took effect January 3, 2005, and provides a new regulatory framework governing short selling of securities. It was designed with the objective of simplifying and modernizing short sale regulation and providing controls where they are most needed. At the conclusion of each settlement day, data is provided on securities in which: 1) there are at least 10,000 shares in aggregate failed deliveries for the security for five consecutive settlement days, and 2) these failures constitute at least 0.5% of the issuer's total shares outstanding. SEC Regulation SHO, under the Securities Exchange Act of 1934, mandates that, if a clearing agent has had a fail-to-deliver position for 13 consecutive settlement days, that clearing agent, and the broker/dealer it clears for, must purchase securities to close out its fail to deliver position.
About Plasticon International, Inc.
Plasticon International, Inc. designs, produces, and distributes high-quality concrete accessories, informational & directional signage and plastic lumber, which are all produced from recycled and recyclable plastics. Plasticon is a leader, an innovator of cutting edge design, engineering, and production of industrial and commercial products. Plasticon is a green company, environmentally friendly, using recycled plastics to produce its line of products.
About **********
WWW.********** is a service designed to help bonafide shareholders of publicly traded US companies fight naked short selling. Naked short selling is the illegal act of short selling a stock when no affirmative determination has been made to locate shares of the stock to hypothecate in connection with the short sale. ********** has built a proprietary database that uses Threshold list feeds from NASDAQ, AMEX and NYSE to generate detailed and useful information to combat the naked short selling problem. For the first time, actual trade-by-trade data is available to the public that shows the attempted size, actual size, price and average value of short sales in stocks that have been shorted and naked shorted. This information is valuable in determining the precise point at which short sellers go out-of-the-money and start losing on their short and naked short trades.
********** has built a massive database that collects, analyzes and publishes a proprietary SqueezeTrigger for each stock that has been shorted. The SqueezeTrigger database of nearly 750,000,000 short sale transactions goes back to January 1, 2005 and calculates the exact price at which the Total Short Interest is short in each stock. This data was never before available prior to January 1, 2005 because the Self Regulatory Organizations (primary exchanges) guarded it aggressively. After the SEC passed Regulation SHO, exchanges were forced to allow data processors like ********** to access the data.
The SqueezeTrigger database collects individual short trade data on over 7,000 NYSE, AMEX and NASDAQ stocks and general short trade data on nearly 8,000 OTCBB and PINKSHEET stocks. Each month the database grows by approximately 50,000,000 short sale transactions and provides investors with the knowledge necessary to time when to buy and sell stocks with outstanding short positions. By tracking the size and price of each month's short transactions, ********** provides institutions, traders, analysts, journalists and individual investors the exact price point where short sellers start losing money and a short squeeze can begin.
All material herein was prepared by **********, based upon information believed to be reliable. The information contained herein is not guaranteed by ********** to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. Plasticon International, Inc. has paid $995.00 to purchase data for information provided in this report. The data service can be cancelled at any time. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. ********** is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein. ********** will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.
********** and SQUEEZETRIGGER are intended for use by stock market professionals. As a member, visitor, or user of any kind, you accept full responsibilities for your investment and trading actions. The contents of **********, including but not limited to all implied or expressed views, opinions, teachings, data, graphs, opinions, or otherwise are not predictions, warranty, or endorsements of any kind. Please seek stock market advice from the proper securities professional, or investment advisor.
By visiting ********** or using any data or services, you agree to assume full responsibility for the decisions or actions that you undertake. **********, LLC, its owner(s), operators, employees, partners, affiliates, advertisers, information providers and any other associated person or entity, shall under no circumstances be held liable to the user and/or any third party for loss or damages of any kind, including but not limited to trading losses, lost trading opportunity, direct, indirect, consequential, special, incidental, or punitive damages. As a user, you agree that any damages collected shall not exceed the amount paid to ********** and/or its owners. As a website user, you agree that any and all legal matters of any kind are to be reviewed and handled in their entirety within the State of California only. By using the services of this website, you are consenting to the terms as outlined, and forfeit all legal jurisdictions in any other State.
Past performance is not a guarantee of future outcomes. Any and all examples are hypothetical and should not be considered a guarantee or endorsement of such trading activity. ********** does not take responsibility for problems of any kind, including but not limited to issues with operations, data accuracy or completeness, contacting issues, technical issues, and timeliness. ********** places great integrity on the data collected and distributed. This information is deemed reliable, but not guaranteed. All information and data is provided "as is" without warranty or guarantee of any kind.
Please seek investment and/or trading advice, council, information or services from a securities professional. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and ********** undertakes no obligation to update such statements.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934, and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, management and maintaining growth, the effect of adverse publicity; litigation, compensation, and other factors which may be identified from time to time in the Company's public announcements.
Contact: Contact: Thomas Ronk, CEO WWW.********** +1-800-715-9999 Tom***********
Contact: Plasticon International, Inc.: Jim Turek President and CEO 3166 Custer Drive, Suite 101 Lexington, Kentucky 40517 web site: http://www.plasticonintl.com
-------------------------------------------------------------------------------- Source: Plasticon International Inc.
Posted by Bearclaw on :
Holy crap...got em!!!! MM's eat your shorts hahahaha
Posted by maumee river rat on :
wadja get??
Posted by Bearclaw on :
Did you read the PR??? Self explainatory...This puppy should fly in the next week or two starting now...Get in while you can...
quote:Originally posted by maumee river rat: wadja get??
Posted by Time2drum on :
HELP !!!
Tried to buy yesterday & this morning, but Ameritrade has a restriction on purchasing. Called & spoke with cust. service & reorg. dept. No one there could tell me why, said to call PLNI. Called investor relations and was told Ameritrade has been doing this for about a week now, and even they have not been given a reason from compliance dept. Anyone here know what's going on? I want in!
Posted by imakmony2005 on :
ya baby....
Posted by buckstalker on :
Get rid of Ameritrade....
quote:Originally posted by Time2drum: HELP !!!
Tried to buy yesterday & this morning, but Ameritrade has a restriction on purchasing. Called & spoke with cust. service & reorg. dept. No one there could tell me why, said to call PLNI. Called investor relations and was told Ameritrade has been doing this for about a week now, and even they have not been given a reason from compliance dept. Anyone here know what's going on? I want in!
Posted by sportsguy on :
What exactly does this mean? I need the brief answer if possible!
Posted by Bearclaw on :
Call Paul Thurston at Ameritrade and rip him a new arse hole 888-871-9007 ext 2538
quote:Originally posted by Time2drum: HELP !!!
Tried to buy yesterday & this morning, but Ameritrade has a restriction on purchasing. Called & spoke with cust. service & reorg. dept. No one there could tell me why, said to call PLNI. Called investor relations and was told Ameritrade has been doing this for about a week now, and even they have not been given a reason from compliance dept. Anyone here know what's going on? I want in!
Posted by YellowSubmarine on :
PLNI - PLNI -- Plasticon International, Inc. (PLNI) SqueezeTrigger Price Is $0.008; Approximately 794 Million Shares Shorted Since January 2005 According to ********** Research Report
CORONA DEL MARA, CA, May 10, 2006 (MARKET WIRE via COMTEX) -- WWW.********** is initiating coverage of Plasticon International, Inc. (OTC: PLNI) after releasing the latest short sale data to May 2006. From January 2005 to May 2006 approximately 10.4 billion total aggregate shares of PLNI have traded for a total dollar value of nearly $83.5 million. The total aggregate number of shares shorted in this time period is approximately 794 million shares. The PLNI SqueezeTrigger price of $0.008 is the volume weighted average short price of all short selling in PLNI. A short squeeze is expected to begin when shares of PLNI close above $0.008. To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://WWW.**********.[/b]
Month Total Vol. Short Vol. Avg. Price Short $ Value ----- ---------- ---------- ---------- ------------- January '05 99,733,360 7,679,469 $0.003 $ 23,038 February 162,740,080 12,530,986 $0.003 $ 35,087 March 69,280,392 5,334,590 $0.003 $ 15,470 April 105,720,168 8,140,453 $0.003 $ 23,607 May 1,030,887,616 79,378,346 $0.011 $ 849,348 June 639,579,456 49,247,618 $0.015 $ 753,489 July 450,594,752 34,695,796 $0.015 $ 530,846 August 429,448,672 33,067,548 $0.013 $ 423,265 September 423,765,856 32,629,971 $0.013 $ 437,242 October 462,601,408 35,620,308 $0.010 $ 370,451 November 964,371,008 74,256,568 $0.007 $ 534,647 December 940,215,360 72,396,583 $0.005 $ 383,702 January '06 2,114,025,728 162,779,981 $0.005 $ 862,734 February 1,082,063,104 83,318,859 $0.007 $ 541,573 March 658,098,944 50,673,619 $0.006 $ 298,974 April 678,449,664 52,240,624 $0.005 $ 261,203 May 92,029,720 7,086,288 $0.004 $ 31,180 Total: 10,403,605,288 793,991,319 $0.008 $6,375,856
* short volume is approximated using a proprietary algorithm. ** average short price is calculated using a volume weighted average short price. *** short volume is the total short trade volume and does not account for covers.
PLNI On OTC Naked Short Threshold List Start End Days on List January 7, 2005 January 13, 2005 5 February 14, 2005 February 18, 2005 5
Plasticon International, Inc. has been on the OTC Naked Short Threshold list two times. Regulation SHO took effect January 3, 2005, and provides a new regulatory framework governing short selling of securities. It was designed with the objective of simplifying and modernizing short sale regulation and providing controls where they are most needed. At the conclusion of each settlement day, data is provided on securities in which: 1) there are at least 10,000 shares in aggregate failed deliveries for the security for five consecutive settlement days, and 2) these failures constitute at least 0.5% of the issuer's total shares outstanding. SEC Regulation SHO, under the Securities Exchange Act of 1934, mandates that, if a clearing agent has had a fail-to-deliver position for 13 consecutive settlement days, that clearing agent, and the broker/dealer it clears for, must purchase securities to close out its fail to deliver position.
About Plasticon International, Inc.
Plasticon International, Inc. designs, produces, and distributes high-quality concrete accessories, informational & directional signage and plastic lumber, which are all produced from recycled and recyclable plastics. Plasticon is a leader, an innovator of cutting edge design, engineering, and production of industrial and commercial products. Plasticon is a green company, environmentally friendly, using recycled plastics to produce its line of products.
About **********
WWW.********** is a service designed to help bonafide shareholders of publicly traded US companies fight naked short selling. Naked short selling is the illegal act of short selling a stock when no affirmative determination has been made to locate shares of the stock to hypothecate in connection with the short sale. ********** has built a proprietary database that uses Threshold list feeds from NASDAQ, AMEX and NYSE to generate detailed and useful information to combat the naked short selling problem. For the first time, actual trade-by-trade data is available to the public that shows the attempted size, actual size, price and average value of short sales in stocks that have been shorted and naked shorted. This information is valuable in determining the precise point at which short sellers go out-of-the-money and start losing on their short and naked short trades.
********** has built a massive database that collects, analyzes and publishes a proprietary SqueezeTrigger for each stock that has been shorted. The SqueezeTrigger database of nearly 750,000,000 short sale transactions goes back to January 1, 2005 and calculates the exact price at which the Total Short Interest is short in each stock. This data was never before available prior to January 1, 2005 because the Self Regulatory Organizations (primary exchanges) guarded it aggressively. After the SEC passed Regulation SHO, exchanges were forced to allow data processors like ********** to access the data.
The SqueezeTrigger database collects individual short trade data on over 7,000 NYSE, AMEX and NASDAQ stocks and general short trade data on nearly 8,000 OTCBB and PINKSHEET stocks. Each month the database grows by approximately 50,000,000 short sale transactions and provides investors with the knowledge necessary to time when to buy and sell stocks with outstanding short positions. By tracking the size and price of each month's short transactions, ********** provides institutions, traders, analysts, journalists and individual investors the exact price point where short sellers start losing money and a short squeeze can begin.
All material herein was prepared by **********, based upon information believed to be reliable. The information contained herein is not guaranteed by ********** to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. Plasticon International, Inc. has paid $995.00 to purchase data for information provided in this report. The data service can be cancelled at any time. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. ********** is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein. ********** will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.
********** and SQUEEZETRIGGER are intended for use by stock market professionals. As a member, visitor, or user of any kind, you accept full responsibilities for your investment and trading actions. The contents of **********, including but not limited to all implied or expressed views, opinions, teachings, data, graphs, opinions, or otherwise are not predictions, warranty, or endorsements of any kind. Please seek stock market advice from the proper securities professional, or investment advisor.
By visiting ********** or using any data or services, you agree to assume full responsibility for the decisions or actions that you undertake. **********, LLC, its owner(s), operators, employees, partners, affiliates, advertisers, information providers and any other associated person or entity, shall under no circumstances be held liable to the user and/or any third party for loss or damages of any kind, including but not limited to trading losses, lost trading opportunity, direct, indirect, consequential, special, incidental, or punitive damages. As a user, you agree that any damages collected shall not exceed the amount paid to ********** and/or its owners. As a website user, you agree that any and all legal matters of any kind are to be reviewed and handled in their entirety within the State of California only. By using the services of this website, you are consenting to the terms as outlined, and forfeit all legal jurisdictions in any other State.
Past performance is not a guarantee of future outcomes. Any and all examples are hypothetical and should not be considered a guarantee or endorsement of such trading activity. ********** does not take responsibility for problems of any kind, including but not limited to issues with operations, data accuracy or completeness, contacting issues, technical issues, and timeliness. ********** places great integrity on the data collected and distributed. This information is deemed reliable, but not guaranteed. All information and data is provided "as is" without warranty or guarantee of any kind.
Please seek investment and/or trading advice, council, information or services from a securities professional. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and ********** undertakes no obligation to update such statements.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934, and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, management and maintaining growth, the effect of adverse publicity; litigation, compensation, and other factors which may be identified from time to time in the Company's public
announcements. Contact: Thomas Ronk, CEO WWW.********** +1-800-715-9999 Tom*********** Contact: Plasticon International, Inc.: Jim Turek President and CEO 3166 Custer Drive, Suite 101 Lexington, Kentucky 40517 web site: www.plasticonintl.com Contact Investor Relations: Jackie Fleming Ph: 866 843 2775 SOURCE: Plasticon International Inc. CONTACT: http://WWW.********** mailto:Tom*********** http://www.plasticonintl.com
.
Posted by Time2drum on :
quote:Originally posted by Bearclaw: Call Paul Thurston at Ameritrade and rip him a new arse hole 888-871-9007 ext 2538
quote:Originally posted by Time2drum: HELP !!!
Tried to buy yesterday & this morning, but Ameritrade has a restriction on purchasing. Called & spoke with cust. service & reorg. dept. No one there could tell me why, said to call PLNI. Called investor relations and was told Ameritrade has been doing this for about a week now, and even they have not been given a reason from compliance dept. Anyone here know what's going on? I want in!
Will call now !
Posted by DQ. on :
Good looking...I'm loaded up again for the long.
Posted by Bearclaw on :
This may climb for the next week or two...Short average at .008 but a lot of the shorts are over .01...
quote:Originally posted by DQ.: Good looking...I'm loaded up again for the long.
Posted by Chopper on :
From the Green Baron Today
Special Update
Plasticon Intl. (PK: PLNI)
Pre- Market News Alert: BUYINS.N E T initiates coverage of PLNI, identifying naked short selling of Plasticon Stock
Plasticon International, Inc. (PLNI) SqueezeTrigger Price is $0.008. Approximately 794 million Shares Shorted Since January 2005 According To ********** Research Report
In our update on Monday, we pointed out that TD Ameritrade would no longer accept purchase orders for Plasticon Int. (PLNI). In fact, many large, long term clients of Ameritrade were asked to move their trading accounts elsewhere will little or no explanation why. The Green Baron Report still does not have the answer, but it would not surprise us that is has something to do with the naked short position that was revealed this morning in a report through www.**********.
The Green Baron Report has researched a long list of discount brokerage firms that would be suitable for trading in Plasticon shares. Most firms tack on additional commission fees and surcharges. However, there is one that we found to be ideal for active traders, particularly one like Plasticon. The firm is Trading Direct which was established in 1997 and can be found at https://XXX.trading direct.com/. Our other choices would be Etrade and then Scottrade in that order. We suggest members to conduct your own research when considering a suitable place to execute your trades.
It appears that Ameritrade may have entered the dark side. It is frustrating to those that have provided them a great deal of support that they would turn so callous and uncaring. The Streamer® quotation system to get live streaming quotes and Level ll market maker positioning is a great perk for active clients at Ameritrade. For those who wish to gain access to a fantastic, independent stock quotation service, we suggest that you try the free trial to sample the services offered by Alphatrade on our home page www.*************.com or simply click the link below to take you direct:
Once again, The Green Baron Report believes this is just the tip of the iceberg when it comes to good news and progressive developments at Plasticon International. It may take three or four great press releases to regain the confidence among investors, but Plasticon appears ready to stage a massive rally from these prices. It appears a nice bottom has now formed at .0042 per share, and a breakout could occur any day.
The exclusive Green Baron webcast interview with Plasticon is coming soon! The Company has agreed to a full interview, but asked if it could occur following the release of the audited 2005 financials and unaudited first quarter 2006 numbers. Although we can not tell you exactly when this will happen, our guess is that we won’t have to wait very long at all. We only ask for just a little more patience, and we believe the reward will be worth the wait.
LEXINGTON, KY., May 10, 2006 – Plasticon International, Inc. (Pink Sheets: PLNI) wishes to inform its shareholders and the public that BUYINS.N E T has initiated coverage of Plasticon International, identifying naked short sellers of PLNI stock.
According to President and CEO Jim Turek, “This is invaluable information for our shareholders and public to be aware of. As we all know, the naked short selling of stock is a serious problem in the public markets in the United States and throughout the world .Naked short selling distorts what would otherwise be a free market, in other words, a market where a share price value is dictated by supply and demand only, and not by the undue influence of naked shorters, which through short selling, manipulate the price and put excessive downward pressure on the value of the stock.”
Mr. Turek continued, “I would urge all shareholders and the public to go to www.**********, and to carefully read a much more detailed explanation of how naked shorting of a security works, so that you can better understand this process and discover how together we might combat this. To learn more about the “Squeeztrigger price”, and other strategies to combat short sellers, please visit the following link on the BUYINS.N E T web site: http://XXX.buyins.n e t/squeezetrigger.pdf.”
May 10, 2006 (MARKETWIRE) – WWW.********** is initiating coverage of Plasticon International, Inc. (OTC: PLNI) after releasing the latest short sale data to May 2006. From January 2005 to May 2006 approximately 10.4 billion total aggregate shares of PLNI have traded for a total dollar value of nearly $83.5 million. The total aggregate number of shares shorted in this time period is approximately 794 million shares. The PLNI SqueezeTrigger price of $0.008 is the volume weighted average short price of all short selling in PLNI. A short squeeze is expected to begin when shares of PLNI close above $0.008. To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://XXX.buyins.n e t.
Month Total Vol. Short Vol. Avg. Price Short $ Value
January ’05 99,733,360 7,679,469 $0.003 $23,038 February 162,740,080 12,530,986 $0.003 $35,087 March 69,280,392 5,334,590 $0.003 $15,470 April 105,720,168 8,140,453 $0.003 $23,607 May 1,030,887,616 79,378,346 $0.011 $849,348 June 639,579,456 49,247,618 $0.015 $753,489 July 450,594,752 34,695,796 $0.015 $530,846 August 429,448,672 33,067,548 $0.013 $423,265 September 423,765,856 32,629,971 $0.013 $437,242 October 462,601,408 35,620,308 $0.010 $370,451 November 964,371,008 74,256,568 $0.007 $534,647 December 940,215,360 72,396,583 $0.005 $383,702 January ’06 2,114,025,728 162,779,981 $0.005 $862,734 February 1,082,063,104 83,318,859 $0.007 $541,573 March 658,098,944 50,673,619 $0.006 $298,974 April 678,449,664 52,240,624 $0.005 $261,203 May 92,029,720 7,086,288 $0.004 $31,180
*short volume is approximated using a proprietary algorithm. **average short price is calculated using a volume weighted average short price. ***short volume is the total short trade volume and does not account for covers.
PLNI on OTC Naked Short Threshold List
Start End Days on List
January 7, 2005 January 13, 2005 5
February 14, 2005 February 18, 2005 5
Plasticon International, Inc. has been on the OTC Naked Short Threshold list 2 times. Regulation SHO took effect January 3, 2005, and provides a new regulatory framework governing short selling of securities. It was designed with the objective of simplifying and modernizing short sale regulation and providing controls where they are most needed. At the conclusion of each settlement day, data is provided on securities in which: 1) there are at least 10,000 shares in aggregate failed deliveries for the security for five consecutive settlement days, and 2) these failures constitute at least 0.5% of the issuer's total shares outstanding. SEC Regulation SHO, under the Securities Exchange Act of 1934, mandates that, if a clearing agent has had a fail-to-deliver position for 13 consecutive settlement days, that clearing agent, and the broker/dealer it clears for, must purchase securities to close out its fail to deliver position.
About Plasticon International, Inc.
Plasticon International, Inc. designs, produces, and distributes high-quality concrete accessories, informational & directional signage and plastic lumber, which are all produced from recycled and recyclable plastics. Plasticon is a leader, an innovator of cutting edge design, engineering, and production of industrial and commercial products. Plasticon is a green company, environmentally friendly, using recycled plastics to produce its line of products.
Contact: Thomas Ronk, CEO www.BUYINS.n e t +1-800-715-9999 Tom*buyins.n e t
Contact: Plasticon International, Inc.: Jim Turek, President and CEO 3166 Custer Drive, Suite 101 Lexington, Kentucky 40517 web site: www.plasticonintl.com
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934, and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors whish could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, management and maintaining growth, the effect of adverse publicity; litigation, compensation, and other factors which may be identified from time to time in the Company’s public announcements.
Posted by Chopper on :
And from the Green Baron Monday....
Monday, May 8, 2006
Special Update from GB!
Plasticon Intl. (PK; PLNI)
News Alert: PLNI Issues Press Release before Market Open
Plasticon International Inc. Completes Audited Financial Statements
On Tuesday, April 25, The Green Baron Report provided an update on Plasticon International following the Company's announcement it posted its disclosure document and unaudited financial statements with www.pinksheets.com. Our update was intended to assure our members that we were staying the course and still expected the Company to make good on its promises over the past year. Since the press release, chatter on the message boards warn that the Company would never file audited financials, conduct a buyback program, file to go on the Bulletin Board, or explain its shares structure. Still others are scaring investors with unfounded rumors like an imminent reverse split.
We believe scare tactics have helped contain the upside in PLNI share price till now. PLNI stock has given back the entire rally on April 25 to close once again at .0042 per share on Friday May, 5, the same closing price it had back on April 24. Adding to the concern, it appears the newly merged TD Ameritrade is asking many of its clients that hold Plasticon stock to move their accounts. We still cannot get an answer from Ameritrade why they would want to cast aside good clients other than that it was a "business decision". It looks to us like some pencil neck at TD Ameritrade may soon need to peruse the classifieds for a new job.
Today's press release confirms that Plasticon has filed audited financials, will follow through with a buyback program, and fully intends to go to the Bulletin Board. The Company recognizes the need to further explain its share structure and the current condition of the company. It appears that Plasticon is very excited about numbers from the first quarter of 2006. CEO Jim Turek states, "These numbers will clearly show a dramatic turnaround in the sales and earnings of the Company and demonstrate unmistakably that the Company has turned the corner has now begun the initial stages of its growth years."
On April 25, 2006 The Green Baron Report said, "Most importantly, we firmly believe that Plasticon still has absolutely no intention to reverse split its shares." In today's news that strictly refutes the reverse split rumors it says, "…the Company wishes to be clear that there are no plans for a reverse split now or in the future." CEO Turek adds, "The Company fully intends to address the restructuring of Plasticon's issued and outstanding shares through the buy back program, and we fully intend to commence the buyback in the very near term."
We recognize that a lot of Green Baron members own Plasticon judging by the amount of email we receive. We have been promising our members an exclusive Green Baron webcast with CEO Jim Turek and Senior Consultant Bill Howe as soon as audited financials were filed. The Green Baron Report has already been in contact with them and they have kindly accepted our request for a webcast interview. We hope to have the webcast interview available by the end of this week, and will ask many of the questions you have sent us over the past several months.
Posted by imakmony2005 on :
LL2s looking better and better, going up!
Posted by smalltime on :
Hey time2drum, Did you find out about anything at ameritrade???????????????
Posted by Bearclaw on :
Great post Chopper...
Posted by DQ. on :
Looking better all the time. After 05 auditeds are out and people open their eyes again, I see no reason why we won't be at .02 again. I'm expecting better once the Promold and Semco numbers are added to the equation. Goooo PLNI!
Posted by imakmony2005 on :
Its all coming together now.
Posted by Time2drum on :
quote:Originally posted by smalltime: Hey time2drum, Did you find out about anything at ameritrade???????????????
No one seems to know (or say?) anything. Spoke with Customer Service and Reorg. Dept. Also, spoke with Aundrea Cox at PLNI Investor Relations (407-884-0444) who told me that Ameritrade hasn't allowed any buys in a week, although you can sell if you already hold a position. She further stated that Ameritrade has not responded to their requests to clarify why they have a restriction on purchasing PNLI.
Grrrrrrr. Never had a problem with them before. Hope this isn't the TD Waterhouse / Ameritrade improved services deal.
Posted by GVMOORE on :
Is this correct. TDAmer been loaning my shares to be shorted driving down pps. The squeeze is on. GLTA.
Posted by keithNJ on :
IM BUYING !!
Posted by Bearclaw on :
GV... I opened another account with E-Trade yesterday morning. I filled out the forms to transfer my PLNI shares over to them. They said it would take 7-10 business days to complete the transfer.I took this chance having a two week window because I think PLNI will continue to rise and I would not have a reason to sell...I hope I'm right...
Ameritrade has been good to me since signing up in 2002...This situation has me pizzzed off but I do undertand their position...Rememeber when signing up with on-line brokers we sign our lives away...They can liquidate our accounts for any reason at anytime...All on-line brokers make sure we agree to that when we sign on...so...
My other holdings remain with Ameritrade...Now I'll have two on line brokers that I use...I'm hoping this makes my positions, both shares and cash position safer...GLTA
quote:Originally posted by GVMOORE: Is this correct. TDAmer been loaning my shares to be shorted driving down pps. The squeeze is on. GLTA.
Posted by keithNJ on :
is blunix shipping there product???
Posted by DQ. on :
I wonder if news is coming? We are gapping a little this morning.
Posted by imakmony2005 on :
looking good here
Posted by Punisher on :
Just bought some... looks promising...
Posted by Murnak on :
sweet, maybe this will start moving
Posted by unreal33 on :
Wow, James paid him self a modest 350k for '04, lol
Posted by unreal33 on :
quote:Originally posted by Bearclaw: ...Rememeber when signing up with on-line brokers we sign our lives away...They can liquidate our accounts for any reason at anytime...All on-line brokers make sure we agree to that when we sign on...so...
[/QB]
huh? can you divulge on that please?
Posted by successinstock on :
we should see the 2005 and 2006 campaign start to gear up in the next week or so....imo.
Good luck to all of those holding tight or new to the stock.
Posted by unreal33 on :
I'm down big on this, hopefuly '06 brings us green
Posted by Bearclaw on :
Check with your broker...
quote:Originally posted by unreal33:
quote:Originally posted by Bearclaw: ...Rememeber when signing up with on-line brokers we sign our lives away...They can liquidate our accounts for any reason at anytime...All on-line brokers make sure we agree to that when we sign on...so...
huh? can you divulge on that please? [/QB]
Posted by DQ. on :
Glad I'm in again,,,,,if someone can't buy at this price and double, triple or 5 bag their money....they're an idiot.
Posted by buckstalker on :
DQ...I can't buy at this price...but NOT because I'm an idiot...I can't buy at this price....because Ameritrade won't let me!
Posted by DQ. on :
quote:Originally posted by buck*******: DQ...I can't buy at this price...but NOT because I'm an idiot...I can't buy at this price....because Ameritrade won't let me!
Well I hate to hear that. Get another broker. I'm changing from Scottrade to Choicetrade cause I'm tired of paying Scottrade their sorry commissions.
Look at the bright side.....Deer season is just months away....Can you say BOWHUNTING????????
Posted by buckstalker on :
Ahhh the magic words...Bowhunting
quote:Originally posted by DQ.:
quote:Originally posted by buck*******: DQ...I can't buy at this price...but NOT because I'm an idiot...I can't buy at this price....because Ameritrade won't let me!
Well I hate to hear that. Get another broker. I'm changing from Scottrade to Choicetrade cause I'm tired of paying Scottrade their sorry commissions.
Look at the bright side.....Deer season is just months away....Can you say BOWHUNTING????????
Posted by imakmony2005 on :
gonna fly.
Posted by amos moses on :
BUCK*******: What happened to the question concerning the Picture of the new CEO at CWFG? I've tried from several angel but can't seem to get an answer. I'm in both of these and find the lack of discussion on PLNI odd. There's been some good new lately. Has every one that use to be here, Gone?
Posted by Bearclaw on :
Amos... We're just hanging out waiting for numbers...playing other stocks...folks will all be back when Turek gets the rest out...take care man...
Posted by trewblue on :
Most of us are still here moses, but prefer to wait quietly and patiently until Turek finally comes through with his promises. I think most are like me and would rather prefer to keep quiet versus saying something derogatory...especially if we believe in this company & it's products...since it accomplishes nothing and is detrimental to our interests...unless of course we're looking to pick up more shares at a lower price. That's my humble opinion only...
Posted by Stock Jockey on :
It appears TDAmeritrade has been caught with their fingers in the shorter's cookie jar. They have now released PLNI for trading as of TODAY! You must place the orders with a broker but PLNI is back up with TDAmeritrade!!!!!!!!!!! This has been verified by phone with TDAmeritrade.
This is the message you will receive if you try to place an online order as of today. "Opening transactions for this security must be placed with a broker. Please contact us."
Posted by Bearclaw on :
Ameritrade taking PLNI buy orders beginning this morning at open...Wonder what changed?
Posted by YellowSubmarine on :
PLNI -- Special Updates - Monday, May 29, 2006 - Plasticon Intl. (PK: PLNI)
Plasticon Files Un-audited Year 2005 and First Quarter 2006 Financials on PinkSheets.com
Latest filings indicate PLNI will regain listing on PinkSheets.com and emerge from quiet period
In our last major update on PLNI on May 10, we urged our members to have “just a little more patience, and we believe the reward will be worth the wait”. We understand that the past several weeks have been frustrating as PLNI has tested lows at about .0037 per share, a level not seen since last December. The closing price of .004 per share on Friday, May 26 may very well be the lowest price we see again on PLNI stock.
In a press release issued on May 8, 2006, CEO Jim Turek stated, “In the coming days and weeks, the Company will be making additional financial information available to its shareholders and the public, which will include un-audited financial statements for the first quarter of 2006. These numbers will clearly show a dramatic turnaround in the sales and earnings of the Company and demonstrate unmistakably that the Company has turned the corner has now begun the initial stages of its growth years.” It took less than three weeks for PLNI to deliver on this statement, and The Green Baron Report believes Plasticon and CEO Jim Turek are ready turn up the fire.
Revenues for the first quarter of 2006 did, in fact, show that Plasticon has turned the corner. The Company recorded over $1.83 million in revenue in just three months, a revenue number that trumps any other revenue figure reported by Plasticon. The spark in growth indicates to The Green Baron Report that Plasticon is indeed for real, and we are likely seeing just the embryonic stages of a huge growth story. The 17-page unaudited first quarter numbers can now be viewed at https://www.otcstockinfo.com/repository/671/671_FR12.pdf
The last time Plasticon resurrected itself from a trading level similar to recent weeks was last December. During the month of January 2006, PLNI stock rallied from about .0036 per share to as high as .0109 per share. The Company was criticized for over reporting its contracts and business plans prior to producing financial reports. In the beginning of February, PinkSheets.com would no longer list PLNI stock unless it filed unaudited financials all the way to its most recent quarter and answer a long list of questions. PLNI stock has suffered while it focused on getting all these reports completed and held off from announcing deal flow.
Although a final approved audit of year 2005 numbers will be necessary before PLNI can apply for a Bulletin Board listing, we believe the un-audited filings will now give Plasticon the ability to explain its tremendous growth story. In the coming weeks, The Green Baron Report plans to conduct at least one exclusive Green Baron Webcast interview with Plasticon. We are intent on making the company answer our questions, many of which have come directly from our loyal readers.
![[Big Grin]](biggrin.gif)
j/k Chopper. Thanks.
![[Cool]](cool.gif)
Lets see.... One for every million ay? ![[Eek!]](eek.gif)
Woohooooo Gooo PLNI! ![[Smile]](smile.gif)