posted
Larry Oakley stated~ This is another winning situation. CEO Jim Turek has transformed an industry. The revenue & profit potential of this situation is quite substantial. With about 95% of the $30 billion market for its plastic rebar supports still available, the size of the market is huge.
There are about 2 billion shares out, insiders own about 80%, & the float is about 500 million shares. As I write this today (8/30/2005 * 3:02 p.m.), it is trading at a modest $0.015.
posted
CLB...I believe you...it all makes sense now...I knew that those dirty SOB's were diluting. Bear...the AS has been reported as 2 bil not 3 bil and the OS 1.8 bil after a 200 mil buyback. Privately financed my ass...Turek and company are nothing but blatant liars...and using our money to finance his deals...IMO this company has some serious legal problems awaiting them in the very near term...lying in PR's is most definately a crime!
quote:Originally posted by clbgroove:
quote:Originally posted by StockHunter:
quote:Originally posted by clbgroove:
Its probably BAC dumping all thier shares they recieved for the pumping or it could be the 3.1 Billion Authorized shares by the comapnay and they are diluting!!!
Authorized shares are 2.0 Billion, not 3.1B. Unless I'm missing something, they have to go to shareholders for a vote in order to increase that number. Total value of company is $15.8 Billion.
I'm used to trading fully reporting companies, so there may be some special rules for pinks that I'm not aware of. Can a pink create a convertible security, or back a loan with shares, in such a way that it dilutes beyond the authorized share count without a vote of the shareholders or a pre-announcement?
I'd be very surprised if this was legal, but thought I'd ask the board in case someone has relative knowledge or experience. Matt at Big Apple confirmed that they'd need a public vote to increase authorized shares, but I want to make sure there isn't a creative way around this that could be dilutive to shareholders.
Well guys....I hate to be the bearer of bad news after such a shi**y week and close but the A/S count is FOR SURE 3 Billion common with an additional 100 Million of preferred stock per the filing in Wyoming.......the bad part is it was dated 4/15/05(management signed it on 4/11/05) and i have a copy in my hand from the state with thier fax stamp on it. Furthermore they have it listed right there on the website but you have to get the actual amendment faxed to you which I have.
The worst part is I asked Matt about the A/S 3 times in three different phone calls so either he is a lying POS or someone is lying to him(which i seriously doubt cause this isnt his first day)he seems like the average smoke blowing salesman is how he comes across to me!!!
And for the people who dont know me, go back and reread some posts cause I have been here for a long time and 100% long term and positive BUT i am getting real real nervous and I hope this was all planned by management to either buy back some shares or slap NITE and the boys or something other than they just got in way to deep!!!!!
IMO thats what the audit hold up is....they have to disclose the total O/S and Authorized and they cant do that cause theres a problem and they know it.
We'll either go above .02 after the 2 deals close or we are done for a long 2-3 quarters and some confidence built back up from shareholders!!
posted
groove, where can we see this filing? where did you see it? what type of filing is it? thanx
The Green Baron Report has actually over stated the number of shares issued and outstanding on purpose. Even though Plasticon has assured us that no shares will be sold onto the market to raise money and a 504 offering has been cancelled, there remains the possibility of an acquisition or joint venture. The current ceiling on the authorized number of shares that can be issued is 2 billion, and the Company has no intention to surpass this number.
IP: Logged |
quote:Originally posted by buckstalker: CLB...I believe you...it all makes sense now...I knew that those dirty SOB's were diluting. Bear...the AS has been reported as 2 bil not 3 bil and the OS 1.8 bil after a 200 mil buyback. Privately financed my ass...Turek and company are nothing but blatant liars...and using our money to finance his deals...IMO this company has some serious legal problems awaiting them in the very near term...lying in PR's is most definately a crime!
Buck,
I think you and I have been on the same page with our concerns for some time now, but if clbgroove is right its worse than I thought. As for legality, they've done a pretty good job of covering their asses. The PR on share retirement never mentioned the actual capitalization structure. I thought it was to keep people from finding out it was upped from 1.4B to 2.0B, but now it looks like they had us all fooled except for clb.
I posted the safe harbor disclaimer in an earlier post because thats the only leash these guys have on how far they can decieve. Its a pretty long leash. Any foreward statement can be totally self serving with little risk. All the reports regarding capitalization have been verbal to various posters from Turek, Howe or Matt at Big Apple.
Several months ago, someone said Turek blamed previous incorrect info on their former PR firm telling lies. In reality, that may be the intention of hiring BAC. An insulation for the company and denyability.
Clbgroove, do you have a link or some instructions on how I can get that info? So far have not been able to find it on the website. I believe you though because its consistant with what the money is doing and the intentional vagaries of the PRs and lack of paper trails on important details.
If you tell people what they want to hear, they will often believe it. I was skeptical, but my desire to want to believe these guys blinded me. Sad thing is, I know better and still got caught.
-------------------- Logic can protect you from the hazards of faith, hope and trust.
IP: Logged |
Where was the A/S count reported? Can you post it here? Then I will check Monday and try to get the count confirmed...
The O/S was originally reported at 2 Billion and not the A/S...I don't ever remember hearing that number reported as anything else so please point me in the right direction...
Lot's of companies have an A/S count much higher than the O/S...I looked and cannot find anything saying PLNI has added to the O/S, nothing registered and nothing voted on...in my mind nothings changed unless more shares are registered...I don't see that happening...do you?
CLB...I know your cool and trust what you say...If you could scan and send me a copy via a PM I sure would appreciate it...May save me a bunch of time...If you can't scan then please PM me and I'll provide you with my FAX number...I appreciate it...Take care guys...
IP: Logged |
quote:Originally posted by clbgroove: Well guys....I hate to be the bearer of bad news after such a shi**y week and close but the A/S count is FOR SURE 3 Billion common with an additional 100 Million of preferred stock per the filing in Wyoming.......the bad part is it was dated 4/15/05(management signed it on 4/11/05) and i have a copy in my hand from the state with thier fax stamp on it. Furthermore they have it listed right there on the website but you have to get the actual amendment faxed to you which I have.
Clbgroove, Were you a shareholder back in April when they increased the shares? If anyone on the board was a shareholder of record before April 11th, let us know if you had to vote on an expansion in the authorized shares. Matt told me they could not increase the A/S beyond 2.0 billion without a vote of shareholders. Since this is my understanding of the law regarding reporting companies, I did not question it.
If they can increase shares without telling the shareholders and letting them vote on it, why would anyone buy a pinksheet stock? I bought in May 2005, so I figured the increase from 1.4B to 2.0B occurred before I got on board and was done above board. sigh.
-------------------- Logic can protect you from the hazards of faith, hope and trust.
IP: Logged |
"Outstanding Shares: 1,800,000,000 as of 2005-09-01
Estimated Market Cap: 16.199M as of 2005-10-26 (based on Outstanding Shares as of 2005-09-01) Authorized Shares: 2,000,000,000 as of 2004-11-15 Float: 500,000,000 as of 2005-09-01 Number of Shareholders of Record: 3,800 as of 2005-09-01
Current Capital Change: shs increased by 8 for 1 split Ex-Date: 2004-02-11 Record Date: 2004-01-30 Pay Date: 2004-02-10"
-------------------- Logic can protect you from the hazards of faith, hope and trust.
IP: Logged |
posted
stockhunter. i don't like that pinksheets company info. why were the outstanding numbers updated but not the authorized? fishy. i just bought back in today, and now i'm not feeling good about it. oh well, we'll see what happens monday.
IP: Logged |
posted
It doesn't help that the SEC's edgar search is having problems. I haven't been able to pull up PLNI for the past 3 days. Does anyone have a site/link to the PLNI filings that works?
-------------------- Logic can protect you from the hazards of faith, hope and trust.
IP: Logged |
posted
I will be emailing the company this weekend and see if they'll reply. They didn't return a call I made several months ago, so I won't hold my breath. Does anyone have a direct email for these guys? I've been using info*plasticon.com. That may be getting forwarded to BAC though.
I better get out of here now before I blow a fuse. Everyone have a great weekend. We'll figure this out next week.
-------------------- Logic can protect you from the hazards of faith, hope and trust.
IP: Logged |
posted
Cramer says it best!!! Always do your homework... 1hour per week per stock.
We have been taken... I apoligize for dropping the ball, it is not 3 Billion ITS 5 BILLION (5,000,000,000) per the amended filing on 10/13/05 SOB's
And no i was not a shere holder in April(came on 5/03/05) but I am for sure one now and I sure as hell didnt vote.
Just go to yahoo and search wyoming secretary of state, go to main page and go to services and then go to corporations and its all there in black and white!!!!!!!!!!!!
IP: Logged |
posted
I see on the document that his name is spelled incorrectly. Hopefully that's not the only thing incorrect, but if it's true, wouldn't we have grounds for a lawsuit, if the Green Barron Report indeed stated, "The current ceiling on the authorized number of shares that can be issued is 2 billion, and the Company has no intention to surpass this number."?
IP: Logged |
posted
Guys Thank you for the link. I just printed the information. I will be tracking this down Monday...as I'm sure others will...Keep in touch and I'd appreciate any additional information anyone finds...Thanks again
IP: Logged |
posted
Success... I just bought a boat load yesterday...so did others...I just read the amendment so my initial thoughts are fragmented but it seems to me that...
I'll be first looking to see if any additional shares have been registered from the A/S for distribution to the O/S...If on Monday the O/S remains the same as it was and the float doesn't change and a registration has not been filed then we're OK for now.
The next step would be to find out if this Wyoming Amendment that was dated on 10-13-05 was in fact to increase the Authorized Shares from the 2 billion to 5 billion.
Then, it seems to me, we need a discussion as to the reason for the increase and the intent... I haven't thought it through yet but this is my initial reaction...
What is your take?
quote:Originally posted by successinstock: Bear...
I will be calling Turek ASAP on Monday....
I will gladly be put on hold while he is talking with you first 8)
posted
Hmmmm...also VFIN took control of the ASK right around the same time as the filling.....Hmmmmm...VFIN is Florida based, MAPPLE is Florida based! Come'on now! I'm getting an ENRON flashback!
Mapple,Bluelinx,Greenbarron,Larry Oakley are all behind this? That's a hard pill to swallow! There must be a logical explanation. If not, a lot of people are going to jail here!
IP: Logged |
posted
Success...Your right...but...I'm Ok with the Friday post by CLB...grateful for his DD... It gives me time to cool off and try to figure this out...I don't want to just react and screw myself financially...
quote:Originally posted by successinstock: not too sure bear...
but the big money always seems to know before us little guys.
could be the reason for the 50% haircut?
damn you clb...you had to post this turd on a friday night....8)
posted
Success...I know...I agree...It still needs to be tracked down...A lot of $$$$ is paid out to get folks to sell off their shares when MM's are accumulating. There could be some huge dollars at stake. The float could be drying up...All kinds of sheet happens and could be happening now....I just need to follow a path and track it down.
I know chopper's on it and I've talked to him. So are two othere guys I know, well one of them is and the other I haven't talked to yet but he will. I think we'll be smoking the phone lines this weekend...If you want my e-mail address please PM me...I'll keep you up to date when and if we find anything out...
quote:Originally posted by successinstock: Bear...
This whole thing looks fishy...
1. States that they are incorporated in Wyoming....is that true....no
2. Their mailing adress is not in Wyoming but on Cluster Rd. in Kentucky....sure they can have a mailing address anywhere but come on...
3. It is Jim Turek NOT Jim Tunek
4. The register agent and PLNI mailing address is the same??
posted
Something is incorrect here... but the scary part is ,if this were market hours right now, we would have panic selling! This site doesn't look very credible.
IP: Logged |
posted
Hey cold... Your right...It seems the push may be on to shake the trees of any stocks they can...or...
Anyway...glad your here...you have a skeptical side we need at times like this...
quote:Originally posted by cold_up_here: Something is incorrect here... but the scary part is ,if this were market hours right now, we would have panic selling! This site doesn't look very credible.
posted
thanks in advance for whatever DD you turn folks turn up. I'l follow over at RB as well (though I'm not registered to post there).
This is most peculiar and of course dreadful news if true.
The horrible thing is that it would help explain the pps decline in the face of good news (the kind of good news that would have spiked it earlier this summer)
But....
PLNI is not some shell. They have real products, they have real distribution deals with fully professional companies (Bluelinx), they're buying a company (promold) with serious ongoing production, etc., etc...... The whole picture doesn't make complete sense either way.
IP: Logged |
posted
Bear.. We have a bunch of smart investors here that have been down this path before. I'm currently trying to get in touch with my friend and contact at the SEC out of Chicago. He's out right now. Hopefully I can connect with him over the weekend. I will try my best.
IP: Logged |
posted
what is meant by the statement on the form:
"Defunct Status: Forced Active" ???????
could that mean the form was filed long time ago and time frame ran out and forced active? don't have a clue, just trying to find the best side of this if any.
IP: Logged |
posted
I have to add that I've know about Larry Oakley and his organization long before I knew about PLNI. If you take a hard look at his track record, it speaks for itself. He basis his stock picks on sources that he attains through many brokers, Investment banks,etc. IMO this is pure credibility and I don't believe that so many people would have misinformed Larry. No way, not after all those years! Hold your shares guys, its a shake like none other in history!
IP: Logged |
posted
Looking at Marketwire * SYS-CON UNITED KINGDOM one.
fast, something here doesn't jive. I'm going with Bear and my gut on this one. I think the float dry and the MM's are going to get caught with their pants down. Let's keep digging.
IP: Logged |
Topic Closed
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
