posted
I am still holding, this was great news and PLNI is a great stock, but you can't miminize the importance of the audit situation. We need an acknowledgement that they missed the audit deadline. They did this when they missed the June deadline and everyone was cool with it. To just miss a deadline without ackowledgement hurts credibility.
Posts: 13 | From: Illinois | Registered: Aug 2005
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JMHO...but if they didnt mention the audit at all and the auditors meet on Tuesday there is a chance they might release later today or tomorrow.
Dont know one way or another on this one, just speculating
Posts: 952 | From: OH | Registered: Apr 2005
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posted
Been out in the heat, just got back in...looks like we ae holding pretty good.
What are you guys using as a reference that they said the audit would be done by the end of July? Was it something Jim mentioned at the Wall Street Reporter's Microcap 5 Investors Summit conference? I can not find it written in any recent PR's. I know that Bill told me it was done and but being reviewed and was on track. This means to me that there was not a drop dead date of the end of July. What I am going on is this, that there is an audit and it will be released soon.
-------------------- If all goes well then great, if not, make it work. Posts: 2562 | From: Louisville, KY | Registered: Feb 2005
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posted
Plasticon Announces Company is Profitable as of Second Quarter 2005 Friday June 17, 10:50 am ET
Mr. Turek said that the company's top priority right now is to have the company audit completed by the end of July. "I am confident that we can meet this deadline. This is a very important step for us. Once the audit is completed we will immediately file the necessary documents with the SEC, in order to move Plasticon to the OTCBB. We expect this to be accomplished in the next 30 to 90 days. "
Posts: 13 | From: Illinois | Registered: Aug 2005
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quote:Originally posted by hopefultrader: Plasticon Announces Company is Profitable as of Second Quarter 2005 Friday June 17, 10:50 am ET
Mr. Turek said that the company's top priority right now is to have the company audit completed by the end of July. "I am confident that we can meet this deadline. This is a very important step for us. Once the audit is completed we will immediately file the necessary documents with the SEC, in order to move Plasticon to the OTCBB. We expect this to be accomplished in the next 30 to 90 days. "
Not to mention this:
(http://biz.yahoo.com/pz/050518/78438.html) LEXINGTON, Ky., May 18, 2005 (PRIMEZONE) -- Plasticon International Inc. (Other OTC:PLNI.PK - News) today announced that it has come one step closer in the company's transition strategy to move from the Pink Sheets to the OTCBB. An audit of all company financials will be completed in four weeks.
``This audit is an important milestone in terms of demonstrating to our shareholders and the public that we are serious in our goal of moving the company forward,'' said Jim Turek, President and CEO of Plasticon International, Inc. ``We are pleased to announce that we are four weeks from a completed audit. Upon completion, we will immediately be filing the necessary documents with the SEC to become fully reporting.''..
[I may have referred to this PR before as a pledge to do audit by end of May--obviously not, but the principle is the same.-state]
Posts: 610 | From: DC Metro area | Registered: Jun 2005
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posted
Quick trip down to fill the .0163? Why not?? Hey, why not just fill Cold while you are at it??
Posts: 797 | From: Phoenix | Registered: Jul 2005
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In regards to the May pr - Actually I think that have explained why the audit wasn't done in those four weeks and I am ok with that. I'm just waiting for the same now.
Posts: 13 | From: Illinois | Registered: Aug 2005
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The PRs have indicated that the audit would be released concurrently with the closing of the Semco deal, which indicates to me that they went back and included it in the audit (I think this has been addressed bfore, and was the reason for the original delay).
IF they included Semco in the deal, then they might have to wait for Semco to close before they release the audit. That would coincide with Bill's comments that the "audit was done" way back the last time you spoke to him.
Using this logic, then, they could be sitting on a completed audit, but unable to release it because it contained information regarding a company they do not yet own.
Perhaps you should discuss the need for an update on the timing with Bill when you talk to him about Semco, and see if you can glean whether or not the two are related.
Posts: 797 | From: Phoenix | Registered: Jul 2005
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quote:Originally posted by hopefultrader: In regards to the May pr - Actually I think that have explained why the audit wasn't done in those four weeks and I am ok with that. I'm just waiting for the same now.
No, they have not, and that is the problem. There was plausible speculation on this board and elsewhere that the Semco acquisition was the cause--there may have even been a claim by a poster that somebody at PLNI said that. But I am unaware of any official explanation for missing either of the two audit deadlines they declared: The clear one expessed on May 18 (we WILL complete etc.) or the one just missed now. I'd love to see an official statement and stand corrected.
Posts: 610 | From: DC Metro area | Registered: Jun 2005
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posted
I guess Turek's statement that the "audit results would be released concurrently with the finalization of the Semco deal" (or words to that effect) led to the speculation that it would be included.
Posts: 797 | From: Phoenix | Registered: Jul 2005
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posted
Great -- you got your stupid 63 -- now bring it up to close at 69 or 70 and we will all be happy
Posts: 797 | From: Phoenix | Registered: Jul 2005
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Tried Bill and his voice mail is full...next time I talk to him if he really wants to be my buddy he needs to give me the private cell number....hey I could just drive over there, it is only 45 minutes away....
-------------------- If all goes well then great, if not, make it work. Posts: 2562 | From: Louisville, KY | Registered: Feb 2005
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Hop in the car and take a laptop with you -- we will have an impromptu webcast!
I am sure he is getting hit with the same questions we are asking. I am just glad pps held on lack of audit update. Looks like MM are bringing it back up now.
Posts: 797 | From: Phoenix | Registered: Jul 2005
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posted
Contracts must be imminent. Why would they acquire a whole new factory to meet extra demands, with privately funded money (not ours with share dilution), unless there were big contracts in the pipeline? What do you guys think?
-------------------- AO Posts: 75 | From: new york | Registered: Aug 2005
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quote:Originally posted by rangers684: Contracts must be imminent. Why would they acquire a whole new factory to meet extra demands, with privately funded money (not ours with share dilution), unless there were big contracts in the pipeline? What do you guys think?
Plausible. As of today, unverifiable.
Posts: 610 | From: DC Metro area | Registered: Jun 2005
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there isnt "big contracts in the pipeline".....they are already there now....and they just really started shipping hard 2 months ago and the contract labor meatheads couldnt keep up and they couldnt count on them!!
So what do you do???? Buy your own plant and tell them(contract guys) to pound salt and deliver on time and MORE IMPORTANTLY....deliver what the customer ordered and make it right the first time.
Posts: 952 | From: OH | Registered: Apr 2005
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State...have you dowmloaded or read the business plan that has COPIES of the state approvals, Federal Patents, Georgia Pacific/Blue Linx contract,values of molds and patents(by third party), etc.??????
quote:Originally posted by clbgroove: State...have you dowmloaded or read the business plan that has COPIES of the state approvals, Federal Patents, Georgia Pacific/Blue Linx contract,values of molds and patents(by third party), etc.??????
Just curious
Uh, no, what does that have to do with anything?
Posts: 610 | From: DC Metro area | Registered: Jun 2005
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quote:Originally posted by clbgroove: State...have you dowmloaded or read the business plan that has COPIES of the state approvals, Federal Patents, Georgia Pacific/Blue Linx contract,values of molds and patents(by third party), etc.??????
Just curious
Uh, no, what does that have to do with anything?
In other words, I think I have been pretty clear that my concern is with things that have not happened the way PLNI stated they would rather than things that have. I've never questioned the existence of any of the things you mentioned.
Posts: 610 | From: DC Metro area | Registered: Jun 2005
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quote:Originally posted by rangers684: Contracts must be imminent. Why would they acquire a whole new factory to meet extra demands, with privately funded money (not ours with share dilution), unless there were big contracts in the pipeline? What do you guys think?
Plausible. As of today, unverifiable.
Apparantly "as of today,unverifiable" would PROBABLY constitute that you have doubts to contracts since you responded to them........No???????
Posts: 952 | From: OH | Registered: Apr 2005
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Mail box still full...maybe they are in St Louis today...I mean that would make sense...probally broke the news to the new employees today...that is how it usally goes down.
-------------------- If all goes well then great, if not, make it work. Posts: 2562 | From: Louisville, KY | Registered: Feb 2005
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quote:Originally posted by rangers684: Contracts must be imminent. Why would they acquire a whole new factory to meet extra demands, with privately funded money (not ours with share dilution), unless there were big contracts in the pipeline? What do you guys think?
Plausible. As of today, unverifiable.
Apparantly "as of today,unverifiable" would PROBABLY constitute that you have doubts to contracts since you responded to them........No???????
Clb, I don't want to squabble. I think my meaning is clear, and the market agrees with my inference.
Until an audit is released, virtually all we have is the good name and reputation of the company. Because this is a pink sheet company that will not take us very far.
The patents are real, the relationships they have are real, etc.; otherwise I wouldn't be invested. But that means zip unless it is translated into independently verifiable profits as indicated by the twice-promised audit. The world is paved not only by good intentions by also by optimistic statements made by pink sheets (not to mention Semco-coated concrete).
We can all agree the bottom is... the bottom line.Besides, the proof is in the pudding. We're at .0163 at the moment for one reason: No audit. I said this morning that today would be an education for me as to whether I was the only person obsessed with the audit. Guess not.
Posts: 610 | From: DC Metro area | Registered: Jun 2005
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Well thats it. We are in the negative today , hoping tomorrow is a better day.
Posts: 326 | From: Orlando, FL | Registered: May 2005
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Well thats it. We are in the negative today , hoping tomorrow is a better day.
Posts: 326 | From: Orlando, FL | Registered: May 2005
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Yeah, Raz, but honestly I was worried all day of a "run" on this because of the lack of audit news. I am glad we held firm, but fear there will be more and more selling going on if something is not done soon (even, as others have mentioned, another update without the results). Again, long term is looking great, but the short-term is starting to get a little ancy. I am sure they realize this, and I really do expect SOME news soon. It is clear that Turek pays attention to the various internet comments being made (as indicated by he comments in the past), and I am sure he both recognizes and understands the anticipation.
That being said, I still think it will come, will come soon, and will come strong. Cold isn't even close to being filled IMO
BTW, I wonder if FOT has heard anything. He could tell us if the PLNI boys were in St.Louis today....
Posts: 797 | From: Phoenix | Registered: Jul 2005
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