quote:Originally posted by DQ.: I'm just glad we have a solid base. Price is stable with very low volume. PLNI is solid. Just waiting on the BIG news (rocket fuel) then it's lift off!!!
All we need is a solid PR like completion of an acquisition or new acquistions. Audit completion would be nice!
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posted
Well, Shnak, the indications from Bill and Jim in the last month or so are that lots of stuff is in the works. The main concern everybody has been having is that Jim said a LONG time ago (in May I believe) that audited financials would be out. The stated deadlines for this have been missed twice.
There was a period there where everbody was getting really worried about all of this missed deadlines, rumors of dilution -- typical pink stuff.
Then PLNI hired Big Apple Consulting (BAC) to do their IR/PR work for them. We of course immediately got in touch with their representative (Matt) who indicated that we should be expecting a number of releases and updates in the next month or so (which basically means the end of August).
As has been shown here, nothing is going to move this company up based on more forward looking statements. We need hard numbers, contracts, etc. If you look at what BAC did for HISC, I think we have a good combination.
So, while we know the audit results won't come out until at least near the end of this month, the problem with walking away from the stock until then is in that a PR announcing one of so many other things could come out in the meantime.
They are doing research on a product that could really increase sales potential. All indications are that they are working on contracts like crazy. They are planning on retiring shares. They are of course doing the audit. The close of Semco could come at anytime, and the close of PRomold is on the horizon.
So while the audit is and remains the HUGE thing, there are tons of other things that could "pop" any day.
This is one of those unique pinks that really seems to have a future. Jim just made some really boner statements about the timing of the audit, and that pretty much froze things where they are. But you can see in the low volume and relatively stable prices over the past couple of weeks that everyone who is in is in. While a while back there were some strong and well-founded fears of a selloff, those have pretty much been put at bay by the hiring of BAC.
Matt pulled a boner himself about the number of shares, but other than that, BAC seems thus far to be pulling its share.
As long as BAC does not let PLNI slip on any more of its promises, then there is not much to do but go up. "When" is anybodies guess, because any of those things I talked about before could cause a decent push in the pps.
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posted
i think jim and bill for sure got all caught up in the emotion of the run and were a little to loose with the mouth. only a temporary set back a minor skirmish to deal with
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quote:Originally posted by mrgr8avill: Matt pulled a boner himself about the number of shares, but other than that, BAC seems thus far to be pulling its share.
I spoke to Matt this morning, primarily about the capitalization. Clearly there was dilution, and he was emphatic about the 2 Billion share figure being current and accurate. He said there would be PRs addressing this in the future. He confirmed that ProMold was not dilutive as per the PR, but asked me for a specific reference from a PR when I asked about SEMCO being non dilutive [I didn't have it in front of me at the time, but I do remember that being the jest of that PR].
BAC structures its compensation in a number of ways, but can include stock and stock options. Any dilution that may have resulted from the BAC contract is already in the 2 Billion share figure. I mentioned that I get much of my info from BBs and wanted clarification from him on several points. He said the BBs are basically BS and I should only go by what he says.
His tone was very terse from the get-go and I got the feeling he was having a bad day. He said he was aware of ALL the concerns of PLNI shareholders and that he's talked to hundreds of them. His answers were very boilerplate.
SEMCO and ProMold are not going to be in the audit. Those companies are doing their own audits that can be tacked on to PLNI later. The auditors want to go back over 2 years to make sure they cover everything and then some for the OTCBB listing requirements.
He said he did not believe Jim or Bill misrepresented the capitalization in any way, even though there was clearly a dilution of shares. I did not talk to them directly, but I did get the impression from those who had, and from the SEMCO and ProMold PRs, that the capitalization was 1.4B and they were committed to not diluting the shares.
Matt did not believe there were any competitors to Plasticon and asked me to let him know if I find any. Someone on another board posted a link to a Co. that made plastic cement/rebar support type products, but I'll have to go back and find that for him.
Revenues from Blulinx generated for past 60 days. He said getting sales not a problem since Blulinx deal generating more than enough.
I love the prospects for this company, but am concerned about capitalization. I don't like that they can increase shares at will before we get to act on it. If IBM planned to increase shares for acquisitions they would file w/SEC first and issue a press release. With these pinks, it seems you never find out until after the fact.
It all boils down to how much you trust the company to treat shareholders well. For that we all have to do our own DD and make our own judgements.
-------------------- Logic can protect you from the hazards of faith, hope and trust.
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Hold on, though Stock -- it has always been 2.0B Authorized, 1.3-4B OS so if they diluted to 2.0B and then bought them back prior to audit, then things are okay.
It was the 2.4B quote he said a wile ago that bugged me.
If the patents were upheld by the courts at $16Mil, then those alone would equate to $0.008 per share at 2 Billion, plus promold, plus Semco and we are still just fine.
I think it is like I thought -- they diluted to get Semco then get financing on Semco to buy back the shares before the auit. Sneaky, yes -- but i t seems to have worked thus far and a dilution to 2B ain't bad anyway.
That almost guarantees a buyback PR in the next week or two IMO.
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posted
There HAS to be something haywire with what you guys were intending to say to each other. I just can't believe that MAtt would admit to a dilution to buy Semco, when he CLEARLY must know of the past releases (the May 27th one is quoted below)
There has to be some sort of misunderstanding here. I think that would be one of the dumbest PR moves ever to clearly go against what was so emphatically stated in a previous release....
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Plasticon Announces That Semco Acquisition Will be Privately Financed Cash Transaction Friday May 27, 10:35 am ET Plasticon Stock Will Not be Diluted as a Result of Transaction
LEXINGTON, Ky., May 27, 2005 (PRIMEZONE) -- Plasticon International Inc. (Other OTC:PLNI.PK - News) today announced that the acquisition of Semco, Inc. will be a privately financed cash transaction. Private financing has been arranged due to the profitability of Semco. ADVERTISEMENT
``There will be no dilution of Plasticon's stock as a result of this transaction,'' said Jim Turek, President and CEO of Plasticon International. ``This acquisition will add tremendous value to Plasticon. Semco's ground-breaking products literally have no competition in the marketplace. Our current distributor is the largest building materials distribution company in the nation. Should our distributor agree to distribute Semco's product line, the impact on our sales would be absolutely staggering. Their surfacing products are unique and they fill an extremely important and profitable niche. They have the only product on the market which truly prevents water damage. This problem has plagued the construction industry and cost the U.S. billions of dollars annually. Semco's products completely waterproof the structure they are bonding to.''
Semco's products are able to waterproof the structure they adhere to because of the advanced technology behind their product line. Their products chemically link and bond with the surface they are applied to, which makes them essential to construction companies and distributors.
``Not only are their products unique,'' Mr. Turek said, ``they also perfectly compliment our recycled plastic rebar support products. This would be product synergy at its best. A perfect example of this would be the application to bridge construction, which is a huge segment of construction industry. A very high percentage of bridges are plagued with water damage problems, and that's why companies increasingly have turned to Plasticon's rebar support products. Now we have the opportunity to sell Semco's concrete coating products to those same customers, which adds a critical layer of waterproofing protection.''
Semco's products add years to the life of the structure by eliminating the absorption of water into concrete. Until now, water damage has corroded the metal rebar support which has been used in bridge construction in the past. Water damage costs the U.S. billions of dollars annually. ``The combination of Plasticon's rebar supports, which are impervious to water because they are made from recycled plastic, and Semco's surfacing products, which completely waterproof the structure they are bonded to, is unprecedented in our sector,'' Mr. Turek said. ``These two products, offered together, are the next killer application for the construction industry.''
On May 31st, Mr. Turek will be featured on a webcast at http://www.*************.com to discuss the acquisition and other recent developments at Plasticon International. For more information about Plasticon International, please visit http://www.plasticonintl.com.
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posted
the patent lists the brochure from international plastics, thats jim's company for newbies. i believe a fully owned subsidiary of plni.
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quote:Originally posted by mrgr8avill: Hold on, though Stock -- it has always been 2.0B Authorized, 1.3-4B OS so if they diluted to 2.0B and then bought them back prior to audit, then things are okay.
You're right about the authorized, but Matt said BOTH authorized and outstanding around 2 Billion, so shares were issued from treasury and all we can do is speculate as to how/why. I wish he wouldn't use the "around" 2 Billion language since the authorized should be a hard fixed number. Maybe its just the way he talks to keep from getting in trouble if he misspeaks.
You may be right on how they structured SEMCO and a possible buyback, but I'm not ready to jump to that conclusion. Repurchase could be difficult and costly. I'd be more comfortable with a retirement of shares. If all the authorized shares have now been issued, then only a repurchase or retirment of insider shares can lower capitalization since a r/s is off the table [thankfully].
The only thing we can be sure of is that we cannot be sure of anything until they issue a PR.
-------------------- Logic can protect you from the hazards of faith, hope and trust.
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posted
I have a call into Matt myself to verify this. I swear to you that would be the biggest boner I have EVER seen anyone pull -- EVER. I just don't believe that is what was intended to be said. No offense at all, Stock -- I appreciate your report and DD and I am not in any way accusing you of being wrong. But man -- I just can't swallow that crap...
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quote:Originally posted by mrgr8avill: There HAS to be something haywire with what you guys were intending to say to each other. I just can't believe that MAtt would admit to a dilution to buy Semco, when he CLEARLY must know of the past releases (the May 27th one is quoted below)
mrgr8avill,
Matt did not admit to a dilution for SEMCO, he merely would not confirm that there was no dilution there based on my recollection of the PR. He preferred to have me quote it and then respond. I think he was having a rough day and I won't fault him for not having everything on the tip of his tongue.
-------------------- Logic can protect you from the hazards of faith, hope and trust.
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posted
If what he MEANT to say weas that all 2.0 had been issued, but that Jim owns 6-700,000,000, then this is no big deal.
That has to be it. If that is the case, maybe Jim diluted to 1.4B BEFORE the press release was issued. In either case, it would not change the figures we have all been going with.
Man, Stock -- you oughta call Bill and tell him what Matt just told you. I would love to be a fly on the wall in Jim's ensuing call to BAC
I'd call myself if I had heard it firsthand. This a company's reputation on the line here...
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quote:Originally posted by stolibox: Aztec is a big competitor, already in the marketplace. they have their own patents, and actually reference one of jim tureks patent.
Thanks Stoli. Saved me some time search RB board. I think you may have been the source there too. I'll pass that info on to Matt. He should be aware of competition. I'm a little concerned he was not aware of them yet. That would be one of the first questions I'd ask a new client. "Who are your major competitors?" Market Research 101.
posted
Oh well, no big deal anyway -- the rumors of 2.4 Billion are at least not true. I don't see how they could go over 2.0B anyway.
This is definately one of those I will ride down and pick up shares if there is a selloff. I am glad that you clarified, Stock, that Matt did not DIRECTLY say Semco was dilutive.
and if Semco and Promold are not in the audit, then I suppose we can look for news soon.
I still have a feeling that this will be a good month for news.
If they are smart, they will retire or buyback ASAP and release a statement to that effect before the end of next week -- the sooner the better.
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My interpretation of the capitalization is that Jim [and the other insiders] probably still own about the same amount they did at the last SEC filing. The 600,000,000 increase in outstanding is what we don't know the detail of.
When I got into this stock it was with the assumption that 1.4 Billion were outstanding and that close to 3/4 of that was owned by a handful of insiders. Based on second hand comments [on these boards] from Jim and Bill, I thought they might retire some shares or use their own shares [as opposed to issuing treasury shares] for acquisitions and the such. That would effectively be a retirement of shares.
It would appear they issued treasury shares for some corporate purpose to be detailed in a later PR. The assumption that they would not dilute to 2 Billion was my interpretation alone based on what I read on the boards and PRs. If you had assumed a 2 Billion capitalization then this changes nothing to your situation. From my perspective it represents a dilution to the stake I thought I would have when the dust settles.
I'm just trying to pass on information we know, and share my interpetation for what its worth.
-------------------- Logic can protect you from the hazards of faith, hope and trust.
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posted
i've heard bigger and bigger numbers for the amount of shares owned by turek. in a previous pr, they said as of 2nd quarter '05 they are profitable. if that was the first time, they obviously had to pay employees. my guess was with sales of shares. the 1.4b number on pinksheets is very old (like 9 months or something), so much of that could have happened even before the semco pr's.
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look at hisc, they payed there officers a ton in shares, they bought back some of them. seemed all planned.
i'll pay the ceo salary with 500 million shares, then i'll buy 250 million back. looks great in the pr. people just don't see the initial shares being distributed.
posted
Here is the Goog Earth view of the building -- nice size. I will check it out next time I am in the area on business -- about a week or so. Also, I know a guy who is a rebar engineer in the Fontana area, so I will ask him about theie products and how well know/respected they are.
posted
There -- reduced the size a bit. No, Stock -- I am with you -- I just think that if the new figures are correct, there is still room to makes things work and get us a good little bit of profit out of this.
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Just spoke to Matt again. Told him about Aztec. He said he did not know of any publicly traded companies, but said there are small private outfits, like Aztec, that he did not see as serious competitors. When I asked for any other names, he said he's not in the business of promoting other companies.
I referenced the SEMCO PR and he said if that's what they said then its not dilutive. He confirmed the 2 Billion share number and that the company cannot authorize more shares without a shareholder vote.
He said the company is not in a position to further dilute the shares. In other words, they have issued all 2 Billion for one purpose or another.
-------------------- Logic can protect you from the hazards of faith, hope and trust.
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Must've listened to my email I think I was a little hot and bothered when I left it. I have now taken my lunchtime 40mg of valium and calmed down a bit. Sorry for ruffling feathers.
BTW -- I spoke to my buddy the rebar dude -- he syas that they sometimes use Aztec products, but that many of the larger projects they work with have their own, larger suppliers (not of plastics). So it looks like they aren't exactly the Microsoft of the rebar support world. This coming from a guy who works not 10 miles from the plant as the crow flies.
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you guys did some fast bang up 2 billion was the authorized limit and they are there not bad at all i thought for a while they diluted past that 2 billion total works just fine
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Yeah, Bond -- it got a little wacky in here for a while, but we are all cool now.
I think I panicked for a bit -- I added 4mg of Xanax and 6MG Ativan to my 40MG Valium and now the world looks better
Stock -- yaman -- it's like being a spy. So far I am glad they bought Keyhole.
So the private company is selling steel rebar and plastic supports and losing money hand over fist. Kewl. Maybe they will go public so MOMO can pull a P&D on them and land them at .0001
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