posted
Ed... Thanks for the information...Am I correct to assume that you can only be incorporated in one state at a time? So if PLNI is incorporated in Wyoming they would have had to transfer it from Delaware?
quote:Originally posted by ed19363: You can incorporate a company in any state you wish. There are different rules in each state, but it doesnt matter where your company is actually located. Delaware is popular because of tax breaks, and Nevada is popular because of lax rules. Each state has different charges for incorporating, and sometimes that has an effect on the company's decision on where to incorporate. IMO, beware of any company incorporated in Nevada. Nevada's rules are so lax that the company can do just about anything and not have to answer to anybody. As far as PLNI itself is concerned, it is the weekend and no news comes out on weekends. I suggest everybody "take two aspirin and call Monday".
posted
Bear, I dont know for sure, but it sounds logical that if you are willing to pay the fees you COULD incorporate in all 50 states. But it seems illogical to do so, as one incorporation would subject your company to the same filing rules. Seems to me the only difference would be some of the rules and the prices for incorporating.
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed
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quote:Originally posted by Bearclaw: Schwarz... There are four Plasticons registered in Delaware...I'm trying to narrow it down... I'll get back to you when I find the information and the Registered Agent...the weekend makes things go slowly...still on it buddy...
quote:Originally posted by SchwarzBiest:
quote:Originally posted by Bearclaw: Oh... PLNI is Incorporated in Delaware...
If there is anything that I can look into from here(Delaware), just let me know.
Yea, and all the incorp dates are before Plasticon changed over from Wicklund, but there is a WICKLUND HOLDING COMPANY listed on 05/23/1977.
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Bearclaw, you only file your incorporation in one state. To incorporate all that is required initially is a charter (articles of incorporation) and an appointment of registered agent. The purpose of the registered agent is to have a local (in state) person or entity to accept service of process so that the corporation may be sued by state residents.
When a corporation wishes to do business in another state all that is required is that they file with that state's secretary of state a registration of business. Typically, this is not more than a short form with appointment of registered agent and statement of original state of incorporation and business purpose. Of course in most states they actually charge more for this filing than for an original incorporation. If a company does not register in a foreign state to do business the most drastic effect is most states will deny access to the state's courts, a real problem if you wish to sue someone, but even without registration you can be sued.
So the short answer: You incorporate only in one state but register your corporation to do business in other states under that state's foreign domestication portion of the state business act.
Hope this helps. I have not checked any other secretary of state website for Plasticon registrations but if I have some time I will hunt around. This is an aniversary weekend and party plans and setup is a nightmare particularly with the home football game tying the town and many folks up as well. Guess that's what happens when you get married on holloween. LOL
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It's a shake out. MM's know the short-term potential here, and with over 3000 shareholders, they know they can shake a few of them loose. If you sell your shares now, you've been had.
In 2-3 weeks, we'll be snoopy dancing all over this place.
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A couple months ago I bought into WSBL on a news and chart event. The company had a grossly inaccurate [low] share count listed on their site. I emailed the company and they actually told me the exact count and put the accurate numbers on their webpage.
Trading activity indicated stock was being distributed into a flurry of positive PRs [sound familiar], so I dumped most of my shares on the initial [and only sustained] run up.
I commended them for thier honesty and walked away with a smaller profit than I had hoped for, but avoided a loss. If Mr. Turek wants us to believe anything he says next week he needs to put his money where his mouth is. Post it on the website, take the legal responsibility for your words, and then you'll have credibility.
If instead, he hides behind a vaguely worded GB infomercial then its time to write this one off as a learning experience.
-------------------- Logic can protect you from the hazards of faith, hope and trust.
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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!!
Have a good weekend and stay positive
not sure if anyone else does, but I would like to see this "i have a copy in my hand from the state with thier fax stamp on it" from clbgroove.
clbgroove...please post this fax so we can all examine it and draw a conclusion. I am sure that it is "public" information, right??
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Guys... I'm out of avenues to determine the authenticity of the Wyoming posting or AAA Corporate Services...Sorry guys but I'm tapped out of resouces...I'm hoping someone has better luck before market opens on Monday...
Successinstock is asking clbgroove to post the FAX with the state stamp...That sure would be helpful...
Clb we haven't heard from you concerning this...how about some help here...
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There's some mega-rumor that's been started on PLNI based on what appears to me to be some intentional errors in some corporate status data coming out of Wyoming. I'd suggest that if the PPS on PLNI tanks at all on Monday morning that glomming "..cheapie-shares.." would be a real shrewd move..!!!
PLNI is so close to coming out of the chute at a full gallop, this BASH BS is just too 'convenient' to have any merit. They closing on the acquisition of two plastic injection molding businesses in the next 15 days, they are "..back-ordered.." out the ying-yang, they have 3 new high-performance Injection Molding machines coming online to meet their huge production requirements, the audit of their financials is finished, and they're filing for OTCBB status.
Don't let some sleazers rattle you into selling if you're long, this is a BUY-OP..!!!
posted
Stock Hunter I don't know about for all the reasons you listed but i was in nico drops earlier this year and they increased thier total share count by 1 billion shares and never told us share holders i think with pinks they can do this. There was certianly a lot of mad investor's but they could do nothing.
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quote:Originally posted by bond006: Stock Hunter I don't know about for all the reasons you listed but i was in nico drops earlier this year and they increased thier total share count by 1 billion shares and never told us share holders i think with pinks they can do this. There was certianly a lot of mad investor's but they could do nothing.
Bond, was that o/s or a/s. Its not unusual to issue shares that have been authorized without pre-notification. But if they can increase the authorized without a vote then shareholders are at basically an infinite risk of dilution. If a company is not on a listed exchange it could be we're at the mercy of state laws which could be much more lax on such matters.
-------------------- Logic can protect you from the hazards of faith, hope and trust.
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Well sorry for the delay guys but I have been out of town till now.
First things first, this is no pump and dump scam to shake share holders on MY PART WHATSOEVER!! I have a very large stake in this and DO NOT like seeing it down to these levels at all because i know now that its going to be one tough bit*h getting over .02 for sure now.
To think that the number is a scam is just stupid thinking for ANYBODY who has watched this thing tank the last 3 weeks and now it makes sense.
The "Document i have in my hand" is the one that clearly states that the A/S count is 3 billion common and 100 million preferred, dated back in 4/05 is what i have. I DO NOT have the amendment filed this month and did not state that i did because i just found out about it on friday at 4:30 when i went to get the website link to post so that you guys could check the 3 Billion for yourselfs, and was shocked as he77 to see the 5 Billion that the rest of you have no doubt seen. As far as the post about it being a typo and will be straitend out Monday, thats not happening cause i know for a fact that its at least 3 billion per the "document in my hand"!!!
Whoever can scan and post it please PM me with your fax number and I will fax it to you to post and FOR SURE will not relaese your # to the public board. I wish this wasnt true as much as everybody else but something is going on and im not liking it.
One thing to think of, Turek and Howe both stated to me numerous times that they had a store in plan for NITE and his buddies and "they are going to eat a whole bunch of shares" (per Howe)......what better way to do it than send out a brochere to all shareholers on record to tell them whats going on with the company, and i took that as its going to get rough so hold on..... and it sure is getting rough. To the MM's they look like the typical pink sheet scam with missed deadlines(numerous), dilution after PR's stating there would be none, increasing share counts after retiring???, and bumping the A/S's from 2Bil to 3Bil then to 5 Bil!!!!!
Hope they know what the he77 thier doing cause its getting real real rough.
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Oh and one more thing for the troops.....teh document that i have is stamped with the filed date,CID #(not sure what that is), the doc ID # and within all of that is the WY Secretary of State
quote:Originally posted by clbgroove: One thing to think of, Turek and Howe both stated to me numerous times that they had a store in plan for NITE and his buddies and "they are going to eat a whole bunch of shares" (per Howe)......what better way to do it than send out a brochere to all shareholers on record to tell them whats going on with the company, and i took that as its going to get rough so hold on..... and it sure is getting rough. To the MM's they look like the typical pink sheet scam with missed deadlines(numerous), dilution after PR's stating there would be none, increasing share counts after retiring???, and bumping the A/S's from 2Bil to 3Bil then to 5 Bil!!!!!
Hope they know what the he77 thier doing cause its getting real real rough.
clbgroove,
Once again, thanks for your DD. Everyone on the board should be greatful for your work and willingness to share. You'll always get some push back as human nature makes it difficult to let go of beliefs that have been ingrained and reinforces for so many months. Keep up the good work.
As to the comments regarding the MMs eating a whole bunch of shares, I've heard this before. Too many companies blame MMs for their poor stock performance. Most of this is bunk, IMO. Its kind of like reading these Q3 earnings reports where everyone blames hurricane Katrina for their mismanagement and weak sales. Its a diversion, IMO.
If a company believes its stock is being naked shorted they don't list new shares to help the shorters and shoot themselves in the foot. They should retire shares or call in the certificates for a swap and force a short squeeze. If the diluton we've been seeing is from NITE, and PLNI has positive cash flow and a strong line of credit for acquisitions, etc...then we should be in position to get rich real fast on NITEs dime, IMO. I wouldn't hold my breath on that.
-------------------- Logic can protect you from the hazards of faith, hope and trust.
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YET AGAIN, ANOTHER PINK SHEET STOCK TELLING US THIS AND THAT.
IF A PINK SHEET COMPANY WERE INTERESTED IN WHAT THEY TELL US, THEY WOULD DO THE FOLLOWING:
REGARDING AN AUDIT: IN THE MEAN TIME THEY WOULD POST ON THEIR OWN WEBSITE THEIR INCOME TAX RETURN. AT MINIMUM: A CERTIFIED PROFIT/LOSS SCHEDULE GIVING THE DETAILS.
REGARDING AN AUDIT: THE NAME OF THE RECOGNIZED ACCOUTING FIRM THAT DOES UPGRADE FROM AN ACCOUNTING POINT OF VIEW. WE SHOULD GET "HEY, THEY UPGRADES X Y AND Z COMPANY WHICH ARE NOW ON NASDAQ AND WE HAVE RETAINED THEM TO DO THE SAME FOR US. THEIR NAME IS ___________ THEIR TELEPHONE NUMBER IS _____________ AND IF THEY HAVE A WEBSITE, THEY SHOULD POST IT ON THEIR WEBSITE THAT THEY HAVE BEEN RETAINED FOR AUDIT REVIEW PURPOSES AND CERTIFIED ACCOUNTING PURPOSES.
SOME OF YOU UNFORTUNATELY ARE GETTING STUCK WITH THE PINK SHEET STOCKS WHERE THESE CORPORATIONS CAN WALK ALL OVER YOU AND IT'S ACCEPTED THAT PINK SHEET STOCKS "DO THAT."
TO POST FINANCIALS IS VERY EASY AND VERY CHEAP. FOR INSTANCE, ANY CONDO ASSOCIATION HAS A FINANCIAL STATEMENT DONE ON AN ANNUAL BASIS AND HANDS IT OUT TO EVERY OWNER.
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u4tsaf2, turn off the high beam caps. This doesn't get my attention any better. But it does give me the need to put you on ignore. If you don't like pinkies you are are excused so you can post on the Yahoo, Nasdaq and Dow sites.
-------------------- It will run when you least expect it. :)
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Consider this: maybe this is true, maybe it is not. However, there is no reason to wait and see, for there are plenty of other stocks out there that don't have this dilemma. Now, if I had a little love for the stock, I'd probably hold. Since I don't, instead I sold and will buy back in when/if things clear up and the stock is moving Northward. That's my two cents worth.
-------------------- May your trading build your character as well as your portfolio.
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If Turek and the officers own 80% of COMMON stock, it seems that they have a real interest in share price increase and avoiding a reverse split. Any thoughts?
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quote:Originally posted by mci: If Turek and the officers own 80% of COMMON stock, it seems that they have a real interest in share price increase and avoiding a reverse split. Any thoughts?
A reverse split in and of itself is not a negative for stock [in the long term]. The reason you don't want to see one is its usually indicative of ugly situations. In pinks, its usually marketing a better price in order to sell more shares. On listed exchanges its usually to maintain minimum price listing standards as its market cap evaporates.
Take a look at the WTVN chart and look at the volume and price. They dumped shares at very low prices, did a r/s and are doing the same thing again. These companies can often find new suckers who buy the propaganda. If they want to hide the history, they can also change the stock name and symbol.
Plasticon can do a r/s equivalent without violating their pledge not to do one, too. Just spin off the rebar support & semco business at a 10-1 ratio and new name, leaving the signage and business products company as Plasticon. If this company was honest and didn't dilute shares they would still eventually have to do a r/s or equivalent to go to the Nasdaq Marketplace [after the OTC BB]. Organic growth is not going to get this stock over the $5.00 minimum there.
-------------------- Logic can protect you from the hazards of faith, hope and trust.
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A poster on RB--probably the same one who posted as yellow sub here--writes:
>>PLNI mamangement is already aware of this rumor mongering BS, and will have a response out Monday, or at the very worst Tuesday - per phone contact today. <<
First of all, I am long holder and have every reason to hope for the best. Many reasons actually--my holding is in the millions. But this is no "rumor mongering BS;" it's an entirely legitimate question that urgently needs to be resolved.
Secondly, I find it hard to believe that if they are aware of this information that PLNI managment would wait until Tuesday to refute the information. I mean really. The pps is on an acclerating slide, and they'd wait until Tuesday to prevent possible panic selling?
If PLNI is aware of any of this talk, they should say something no later than Sunday. There's no law that prevents PRs from going out over the weekend!
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You are 100% right state if they know and this is bs a Sunday post would sure save there bacon. If this is a fruad I say hire that guy to do your pr's because he is good it looks real to me
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quote:Originally posted by BuyTex: have never seen a PLNI pr on the weekend...would be a first
I don't expect it for sure. But if they don't send out something before the opening Monday morning, it will indicate, at best, an almost aggressive form of stupidity.
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For the record I went to the site that was posted, I saw the Doc. It could very well be official no way to prove it this weekend on monday the truth will out,its really that simple this has really thrown a monkey wrench into my plans for monday now I have to wait and see. I reaaly think as hard as Jim has worked he would not do this, I don't think this scare will go on past monday but i will not state any advice in this thread, this is something a person does what he or she thinks is best for them.glta see you monday morning
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quote:Originally posted by BuyTex: have never seen a PLNI pr on the weekend...would be a first
I don't expect it for sure. But if they don't send out something before the opening Monday morning, it will indicate, at best, an almost aggressive form of stupidity.
An open letter to shareholders, posted on their website can be done at anytime. If they don't have time to vet a proper PR before Monday's opening that's the least they should do.
It takes less time to tell the truth than to decieve. After all, lies have to be run through the legal department to acheive maximum deception with minimum risk to the principals. If they wait until Tuesday to address this I'd be even more skeptical of what they say.
If they claim the extra shares are to protect themselves against MM manipulation that would be a total punt, IMO. PLNI has never been on the Reg SHO list and the players and action has been one of long selling. The irony here is if they don't properly address this Monday, they may instigate a short play by the big boys starting this week. Watch to see if VFIN dissappears from the offer and NITE and/or SCHB become the dominant sellers.
-------------------- Logic can protect you from the hazards of faith, hope and trust.
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this website says 5 BILLION common shares. link...
search plasticon. bummer. i guess when they say no reverse split, they just mean, we'll issue shares like candy. well, this is how pinks go to crap, and why they are pink.
quote:Originally posted by bond006: Stock Hunter I don't know about for all the reasons you listed but i was in nico drops earlier this year and they increased thier total share count by 1 billion shares and never told us share holders i think with pinks they can do this. There was certianly a lot of mad investor's but they could do nothing.
Bond, was that o/s or a/s. Its not unusual to issue shares that have been authorized without pre-notification. But if they can increase the authorized without a vote then shareholders are at basically an infinite risk of dilution. If a company is not on a listed exchange it could be we're at the mercy of state laws which could be much more lax on such matters.
An increase in A/S doesn't effect the price of the stock. An increase in O/S (s8) will force the pps down in the case of WHLI. A company can have 10m in o/s and raise it to 100b and it will not effect the stock one bit. This will only allow the company to dilute more shares when they decide to do so. In other words don't sweat it to much. The company would have to file an S8 which would have to be released public unless they have an open order to do so already. Then again this is pink sheets and they really don't have to file. What I would do if I was concerned about the o/ increasing just call the transfer agent everyday for the next 2 weeks. If the o/s remains about the same then you are ok...
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there's news this morning but nothing about the stock itself.
Plasticon Transfers Wholly Owned Inventory of Injection Molds to New Production Facility Monday October 31, 8:30 am ET
Injection Molds Have Been Independently Valued at $10 Million
LEXINGTON, KY--(MARKET WIRE)--Oct 31, 2005 -- Plasticon International Inc. (Other OTC:PLNI.PK - News) announced today that on October 28, the company moved its wholly owned inventory of injection molds to the Pro Mold, Inc. production facility, to prepare for the completion of the acquisition of Pro Mold on November 9th. The inventory of injection molds has been independently valued at $10 million.
"We want to be prepared to immediately get into production the day after closing the acquisition," said Jim Turek, President and CEO of Plasticon International. "That is the main reason why we decided to move our inventory of injection molds in advance. There is a $1 million backlog in orders for Pro Mold. Additionally, demand has been increasing for our patented recycled plastic rebar support products, so we are very anxious to hit the ground running with our new facility. Acquiring Pro Mold, Inc. is a milestone in the history of the company. Plasticon will no longer rely on contract manufacturing from this point forward. This is the first time that Plasticon will control the manufacturing process from start to finish through its own wholly owned production facility."
The new production facility allows for $20 million in production and sales annually at present production capacity, and $8 million to $10 million in additional production capability with the recent purchase of several new Toyo machines. The total production capacity for the facility in the first year will be between $28 million to $30 million.
*fart*
-------------------- Current penny stocks owned: PLNI, VWKM, AMHD. And yet none of them are moving anywhere....
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Amazing not one thing said there was people that posted that said they called the company and the were knowageable about the posts on the boards. I guess thhey are in no hurry to set the record right or they just will avoid the issue.If this is true when due you think they will start to use them.
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« PLNI Message list | Reply to msg. | Post new msg. « Older | Newer » By: rrm_bn4u 31 Oct 2005, 08:57 AM EST Msg. 18032 of 18036 (This msg. is a reply to 17880 by rrm_bn4u.) Jump to msg. # I contacted the T/A. They indicated that it wwas their policy to refer inquirys about the Authorized and Outstanding to the issuing company. So no answers there.
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