posted
I hate to bring this up because i still carry a small position not like I had but I agree with the diluting it just all adds up and it is very simple if you take the love affair of the stock away. And with a pink you know what dilution is the first step to an R/S our ceo his credibility is a lot to be disired I know that he promissed not to but he also promissed a lot of other things
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So your saying WDCO last week and VFIN this week are dumping diluted shares directed by Turek? Do I have that right?
I may buy that ...but...The only thing I don't get is the why? It doesn't add up Buck. The financing is completed for both ProMold and Semco...Why the dilution?
quote:Originally posted by buckstalker: Not buying it Bear, not anymore....PLNI is diluting, plain and simple...the fluff PR's give it away...maybe they have a good reason, maybe not...but either way, it isn't fair to shareholders...period!
quote:Originally posted by Bearclaw: Or Naked Shorting by VFIN...
quote:Originally posted by buckstalker: 22 mil in volume...most of the trades were at the ask...pps goes down 11% = DILUTION
posted
Buck... The MM's know this is an easy double or triple or more...If ProMold and Semco go through and the financials are released with all three it could be much more than a three bagger and the MM's know it... I'd listen to the dilution theory if someone can give me one bit of evidence or need for the cash...
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Look even is something bad is in the works come Nov. a very short time away if everything goesdown like the say you will still make on this thats why i am not totaly out. I think there odds are in your favor that this will go down
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posted
I thought about selling out, but I have such a small position on this one I don't mind riding it out. That is the great advantage of investing what you are willing to lose instead of what you are willing to gain.
-------------------- May your trading build your character as well as your portfolio.
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posted
Bear, I don't know what is going on here any more than anyone else, but I think we can agree that it smells of either dilution or shorting.
Your saying that WDCO and VFIN are shorting right now, knowing full well that these aquisitions are going to take place next month, and that the pps will most likely rise when that happens...well that doesn't add up either...that's a hell of a gamble for the mm's unless they know something that we don't. Either way, this is NOT a good stock to be holding on to right now...because the pps is going to continue to decline, whether it be from shorting or dilution...IMO
quote:Originally posted by Bearclaw: Buck...
So your saying WDCO last week and VFIN this week are dumping diluted shares directed by Turek? Do I have that right?
I may buy that ...but...The only thing I don't get is the why? It doesn't add up Buck. The financing is completed for both ProMold and Semco...Why the dilution?
quote:Originally posted by buckstalker: Not buying it Bear, not anymore....PLNI is diluting, plain and simple...the fluff PR's give it away...maybe they have a good reason, maybe not...but either way, it isn't fair to shareholders...period!
quote:Originally posted by Bearclaw: Or Naked Shorting by VFIN...
quote:Originally posted by buckstalker: 22 mil in volume...most of the trades were at the ask...pps goes down 11% = DILUTION
quote:Originally posted by Thorn: I thought about selling out, but I have such a small position on this one I don't mind riding it out. That is the great advantage of investing what you are willing to lose instead of what you are willing to gain.
Silly me. I read my post, looked at the chart, and thought about what I just wrote...why should I go down with the stock? Buy back after the drop!
-------------------- May your trading build your character as well as your portfolio.
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posted
While there appears to be some retail dumping the past few days, the majority of sales are still coming from one or two sources [VFIN recently, WDCO before that].
The money does not correlate with the talk. The money is usually right, and has been for the past few weeks. We are now getting down to a level where the next move is not necessarily predicated on news, but on the completion of these sell programs.
We're down to levels where a single large investor can clear out this supply. [Matt, get out the rollodex]. It would not surprise me if someone took a shot here. A 5% stake in this company would only cost $720,000. If I see a clear buy program of 40 millions shares or more that takes out VFIN and WDCO I'll jump in behind them. I didn't follow the money on the way down, but will keep my eyes open for the other side of the coin.
Of course, if no one shows up, or if these sell programs are essential to the financing and completion of the deals/audit/etc... then times will continue to be tough. I hope I'm wrong about the sales being tied to company needs, but the PRs seem consistant with someone trying desperately to create demand. If the story is as good as they say, why not just shut up and let the real news move the stock when it gets here. No one believes these magic dates/intended meetings/planned buybacks/etc anymore.
-------------------- Logic can protect you from the hazards of faith, hope and trust.
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posted
Buck... Your gonna think I'm nuts but I'm buying right now!!!! Yes we agree that it smells.
I don't think it's risky at all for the MM's to be shorting. They have at least 5 days to cover and with the new person in charge at the SEC no one is checking up on their activities or gives a sheet...We all know that if we're trading in Pennyland..
I don't know if the brokers know things before you and I do...but...chances are it's easier for them to find out...Either way buddy...Penny's are Penny's...You take care and good luck...
quote:Originally posted by buckstalker: Bear, I don't know what is going on here any more than anyone else, but I think we can agree that it smells of either dilution or shorting.
Your saying that WDCO and VFIN are shorting right now, knowing full well that these aquisitions are going to take place next month, and that the pps will most likely rise when that happens...well that doesn't add up either...that's a hell of a gamble for the mm's unless they know something that we don't. Either way, this is NOT a good stock to be holding on to right now...because the pps is going to continue to decline, whether it be from shorting or dilution...IMO
quote:Originally posted by Bearclaw: Buck...
So your saying WDCO last week and VFIN this week are dumping diluted shares directed by Turek? Do I have that right?
I may buy that ...but...The only thing I don't get is the why? It doesn't add up Buck. The financing is completed for both ProMold and Semco...Why the dilution?
quote:Originally posted by buckstalker: Not buying it Bear, not anymore....PLNI is diluting, plain and simple...the fluff PR's give it away...maybe they have a good reason, maybe not...but either way, it isn't fair to shareholders...period!
quote:Originally posted by Bearclaw: Or Naked Shorting by VFIN...
quote:Originally posted by buckstalker: 22 mil in volume...most of the trades were at the ask...pps goes down 11% = DILUTION
posted
Again...Told you all I was bad luck! This has happened to every stock/bond/mutual fund that I have ever owned. Soon as I purchase, it tanks big time. Safe harbor or not a SEC investigation might be warranted here soon, if nothing stated in the many PR's materializes, Turek could be facing some jail time. Now what Chop?
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quote:Originally posted by cold_up_here: Again...Told you all I was bad luck! This has happened to every stock/bond/mutual fund that I have ever owned. Soon as I purchase, it tanks big time.
Well, actually it wasn't as "soon as I purchase". You did a lot better than many of us. At least you got in about 45% below its highs. Very few people buy the exact bottom [unless you average down]. Good Luck.
-------------------- Logic can protect you from the hazards of faith, hope and trust.
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posted
How did I know that this imminent R\S is coming?? I'm an MM. You all got screwed. Like I said before, get out now before your losses are 90%.
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quote:Originally posted by Felicia Gomez: How did I know that this imminent R\S is coming?? I'm an MM. You all got screwed. Like I said before, get out now before your losses are 90%.
lol - at least we have some humor here.
-------------------- You can't argue with idiots, they drag you down to their level and beat you with experience.
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posted
This was from Tangs on the RB board. I enjoyed the humor today.
The Turek Plan:
15 years ago Jim Turek is sitting in his living room and says "I have an idea, lets take my company to the pinks, and then I will wait 14 years to scam Shorts_in_the_Sand and Snake out of their money". I will take my life's work and my family's name and fortune and give it all away after 15 years so that I can take a vacation to Spain and buy a 2005 Chevy Cobalt. You people are idiots.
-------------------- It will run when you least expect it. :)
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posted
The Nasdaq Risk Metrics keep getting Lower and Lower folks. It is currently at 471 and was at 503 last week. I couldn't resist and picked up some more today. Hey Bear the bargain basement sale is just to good to pass up. GLTA
posted
Chopper... I got some more late this afternoon...I'm all in now...Glad to hear you went to the sale too... Now lets get this puppy moving again...
quote:Originally posted by Chopper: The Nasdaq Risk Metrics keep getting Lower and Lower folks. It is currently at 471 and was at 503 last week. I couldn't resist and picked up some more today. Hey Bear the bargain basement sale is just to good to pass up. GLTA
posted
U4... Maybe next you'll be suggesting a shareholder takeover like you did with Frank Olson on QBID...Is it still a $20.00 fee you want to charge? Problem is I think Jimbo can pull the 51% together...funny stuff.. You coming here for a change of pace? You could just cut and past the QBID remarks and enter PLNI instead...Your opinion of the two is about the same...IMO
quote:Originally posted by U4TSAF2: OH THE AUDIT WILL BE COMPLETED. WE HAVE THIS ACCOUNT, WE ARE SELLING THIS AND TONS OF THAT.
WE ARE CONCERNED FOR OUR SHAREHOLDERS.
BUYBACKS, MERGERS, ETC.ETC.ETC.
.0083
DON'T WORRY JIMBO, ALL YOUR MESSAGE BOARD FANS WILL IGNORE THE OBVIOUS AND KEEP PUMPING HOW GREAT OF A JOB YOUR DOING....
posted
Could be good for bounce tomorrow. RSI went below 30, I don't think it'll stay at that too long. Alot of people invested in this are still getting in from work, and just seeing todays pr and now pulling up the charts.
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posted
Critics say Sarbanes-Oxley's costs are too high Monday, October 17, 2005
By Deborah Solomon, The Wall Street Journal
Four years ago, TeleCommunication Systems Inc., a wireless-data provider in Annapolis, Md., paid $250,000 to its outside accounting firm for an audit and other services. Last year, it paid more than $900,000.
The reason for the increase? The 2002 Sarbanes-Oxley Act.
When Congress ushered in the landmark corporate-reform legislation, much was said about its potential for improving governance and preventing a repeat of the rash of financial fraud that wreaked havoc on investors' pocketbooks in recent years. Three years later, regulators, legislators and many executives agree much of the law was needed.
But some critics also now argue that the costs of implementing key provisions of the law are beginning to exceed the benefits. Indeed, studies show that companies are paying bills that far outpace what regulators had predicted, prompting some -- particularly small businesses -- to argue that they can't afford the expense.
"The cost for smaller companies is enormous compared with what they earn, and they just don't have the resources to do the amount of detail that's been required," says Colleen Sayther Cunningham, chief executive of Financial Executives International, a Florham Park, N.J., advocacy group for financial executives.
In response to concerns about the costs for smaller businesses, the Securities and Exchange Commission has delayed implementation of a key section of Sarbanes-Oxley -- the internal-controls assessment requirements, known as Rule 404 -- until 2007 for companies with less than $75 million in market capitalization. Companies with less than $100 million in market capitalization, meanwhile, said in a survey by Financial Executives International last March that they expected to pay an average of more than $820,000 to comply with the internal-controls rule. And for companies with revenue of less than $1 billion, a January 2005 survey by the law firm Foley & Lardner LLP estimated that the average annual cost of being a public company in fiscal 2004 more than tripled since Sarbanes-Oxley was passed, to $3.4 million, with audit fees representing about a third of total costs.
According to the study, which based its conclusions on on analysis of proxy statements from more than 700 public companies, audit fees for companies in the Standard & Poor's Small-Cap 600 index surged an average of 84 percent in fiscal 2004, following increases of 17 percent in 2003 and 34 percent in 2002. Similarly, fees at S&P Mid-Cap 400 companies jumped 92 percent for 2004, while fees at S&P 500 companies rose 55 percent.
While Sarbanes-Oxley makes other requirements of public companies, such as setting up whistleblower hot lines and ensuring the presence of independent board members, by far the biggest part of compliance costs are those associated with Rule 404. The rule requires public companies to perform internal reviews of their control systems, then hire an outside auditor to verify the review's findings. Critis say this results in a duplication of efforts -- and a doubling of companies' costs.
"There's a lot of redundancy," says Alex Davern, chief financial officer at National Instruments Corp., Austin, Texas, and chairman of the Washington-based American Electronics Association's committee to reform Rule 404. "The external auditor comes along and retests" everything that management has already looked at, says Mr. Davern.
While no one disputes that strong controls are important, critics such as Mr. Davern say Rule 404 is overly burdensome. "The benefits of the rule remain completely unproven," says Mr. Davern. "Shareholders have never had an opportunity to vote that this is a good use of money. We are taxing shareholders without giving them any representation."
The mounting costs have prompted some public companies to consider taking their businesses private. Last month, Meredith Enterprises Inc., a real-estate investment trust with $13.3 million in market capitalization, filed an application with the SEC to delist its shares from the American Stock Exchange, citing, in part, increased costs attributed to Rule 404. In a survey of 147 public companies, Foley & Lardner, the New York law firm, found that 20 percent of respondents said they were considering going private, up from 13 percent in 2003. Respondents also indicated they were increasingly considering other options in response to increased corporate-governance and public-disclosure requirements, including selling the company (10 percent, up from 6 percent) or merging with another company (14 percent, up from 7 percent).
Annual Sarbanes-Oxley compliance bills for an individual company can add up to anywhere from a few hundred thousand dollars to more than $8 million, depending on the company's size. In a report commissioned by the Big Four accounting firms earlier this year, a survey of 90 large companies found that companies surveyed spent an average of $7.8 million, with audit fees accounting for about a quarter of the cost.
The process is expensive because companies must commit staff to determining everything from how revenue is collected to who possesses keys for offices around the globe. Many companies, particularly smaller firms, don't have enough staff, technology or expertise to perform such detailed reviews and end up outsourcing some or all this work to a consulting firm. Then, an outside auditor still must be hired.
A compliance industry has sprung up to service the demands created by Sarbanes-Oxley. While many of the consulting companies involved are privately held, those that are publicly traded or owned by a public parent are reporting strong sales. In July, Robert Half International Inc. reported record second-quarter revenue, boosted in part by the success of its Protiviti unit, a provider of internal audit and risk-consulting services. Revenue at Protiviti increased 52 percent to $111,908 from $73,449 in 2004.
The sector is so hot there are now conferences sponsored by the companies that offer these services. "It's beyond a cottage industry at this point," says Patrick McGurn, an executive vice president of Institutional Shareholder Services, a proxy-advisory firm based in Rockville, Md.
But it's a boom that may not last long. Some Sarbanes-Oxley costs are expected to decline as businesses move beyond the first few years of implementation. The study by the Big Four firms, for example, predicted that costs will fall on average about 46 percent within a few years.
Still, that's little relief right now. Responding to the concerns of small businesses, the SEC has established a small-business advisory committee to look into what type of relief -- if any -- smaller companies should receive. Meanwhile, to help contain costs, the SEC, along with the Washington-based Public Company Accounting Oversight Board, has issued guidance reminding auditors to use common sense in monitoring compliance efforts and not to adopt a one-size-fits-all interpretation of the rule.
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WOW!!! I have been out of the country for the last 2 weeks and I have not had much internet access, and I can't believe my eyes...COLD HAS GOT HIS FILL AND SOME!!!!
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quote:Originally posted by Chopper: Thorn, In the case of felicia goofball it means Malicious Maniac... However in stock terminology it means Market Maker.
Heh. I know what it normally means on these boards...
-------------------- May your trading build your character as well as your portfolio.
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posted
Good rule of thumb...When in doubt, throw it out! So, if Plasticon International changes its name(I believe it will make it the third name change) to say, Plasticon International Holding Group or maybe Promold Deluxe Incorporated. That should do the trick!
BTW- Let's revert back to thy old days! Sound good? OK then, in case I forget later a summary of today's action can be found here ~~~~~~~~~Bawhahahahahahahaha!!!!
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Press Release Source: Plasticon International Inc
CEO Webcast Featuring Plasticon CEO Jim Turek Will Be Featured on *************.com on Monday, October 31 Friday October 28, 8:30 am ET
LEXINGTON, KY--(MARKET WIRE)--Oct 28, 2005 -- Plasticon International Inc. (Other OTC:PLNI.PK - News) announced today that Plasticon President and CEO Jim Turek and senior consultant Bill Howe will be featured on www.*************.com in an exclusive CEO webcast on Monday October 31st. The webcast will offer new and existing shareholders an opportunity to learn about exciting recent developments with the company. The webcast was conducted by Evergreen Marketing, Inc. and their subsidiary *************.com and will be available for listening on The Green Baron Investors Society's website at www.*************.com. For more information about Evergreen Marketing, Inc. and their subsidiary The Green Baron Investors Society visit them on the web at www.EvergreenMarketingInc.com and www.*************.com.
Plasticon International (www.plasticonintl.com) 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.
ADVERTISEMENT
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.
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