posted                      

quote:

---

By: lancej
31 May 2007, 11:13 PM EDT
Msg. 77511 of 77571
(This msg. is a reply to 77500 by xrayviscion.)
Jump to msg. #
After all the deception put forth by Plasticon, I'm out to do whatever makes the most money for me. Why would I stay loyal to a company that is going to screw me on a stock exchange (i.e. instead of being 95% down over the last 3 years, after the stock exchange I'll be 75% down)?

Do you have an opinion on whether us long term shareholders should contact Assouline & Berlowe and inquire about the possibility of a class action filing?

Again, if it meant I was guaranteed more money back on my original investment than what Plasticon is offering in their stock exchange if I signed on to a class action filing, I would certainly consider it and give Mr. Turek the middle finger.

I understand from your post that Assouline & Berlowe have filed to appear as a shareholder on its own behalf, but if they're going to be there anyways, and if they want more leverage with the court by bringing a signed document with hundreds of shareholders signatures, I mean it could work for everyone, except Mr. Turek of course, but after the AV-CB Developments PR about an uplisting to the AMEX while he knew he didn't even have the money to pay on his ProMold purchase and was in default to one degree or another since April of 2006, I don't think many of us bulls would feel a moral obligation to continue to hold shares in this company.

Any other long term shareholder of PLNI have an opinion on this and if we should give Assouline & Berlowe a call?

---

quote:

---

lancej
01 Jun 2007, 09:04 PM EDT
Msg. 77541 of 77571
(This msg. is a reply to 77533 by carmelbeach.)
Jump to msg. #
I bought about 350,000 shares today so you can see some of that in the buys that hit at $0.0001.

The reason I bought more shares is not because of my conviction about what an awesome investment PLNI is at the moment...LOL...

All Scottrade clients who hold PLNI were notified today of the stock exchange. In my conversation with Scottrade's reorganization division, they indicated that this stock exchange may involve only even increments of 1 million. For demonstration purposes let's say that my holdings of 1.7 million shares, only 1 million shares were eligible for the stock exchange on two grounds: 1) The minimum of 1 million shares, and 2) It is in an even increment of 1 million.

I said, "So you mean to tell me that if I don't buy another 300,000 shares, 600,000 of my shares will not be eligible for the exchange?" The lady replied that they were not sure. But that if I wanted to be safe, I should buy up to the next million share increment so that if this is the case, I can exchange all my shares.

Needless to say, I'm a little pissed as this violates every good rule of investing principle I have. First, it's usually bad to throw good money after bad. If your original profit thesis is violated, using rationalizations and justification for buying more when the stock pulls back is usually a bad idea. Second, it's always good to buy a stock you think is going to go up...LOL... not because of any other reason, like you need to reach an even million share mark!

In any event, I expect other Scottrade members will do the same over the next few trading days as they are e-mailed by Scottrade and asked to call about their PLNI investment, in which this will be explained to them.

But that's it! No more of my precious and limited hard earned money is going into PLNI for the foreseeable future damn it.

---

Posts: 21062 | From: Fort Worth | Registered: Apr 2005  |  IP: Logged |