quote:Originally posted by will: Well, if were just a one to one conversion ratio, I wouldn't be worried either. That's why it is important for anyone loking at this long term to find out the detail of the preferred shares. they can have a conversion ratio of 1 to 100 common shares, 1 to 1,000, 10,000, 100,000, whatever the company reported the conversion rate is. Pennies are probably best looked at as swing/day trade investment, not long term. I like the volume, and the fact that it is at a 65 day low, but it might have to inch down a bit more on high volume before it recovers, but if/when it does, expect it to fall to these price levels again in the short term. Good luck if you believe in this company. hope it wroks out the way you believe it will. It has been my expereince that not many of these pennies make it out of penny land.
Well--that's true, without a doubt. PLNI seems unusual to me for a pinky for reasons discussed in the last 4,000 posts or so. But I'll admit to being more sure of that a couple months ago than today!
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"well, my friend, you can declare what good work would be, or you can do it"
So, it would seem I don't have any "good work" to do. It would be right or appropriate for someone who had an investment in PLNI to do "good work" to find out what is going on with the unusually high volume, and the status and deatil of the preferred.
I wasn't being a wise ass intitally, evidentally you took it that way. There are a lot ways these companies can dilute and then R/S you out of your money. Converting preferred shares into millions of common shares is one way. Increasing the O/S is obvious, but they're a lot smeakier than the obvious. Just trying to be helpful. Hope it plays out well for you.
-------------------- A million seconds is 13 days. A billion seconds is 31 years.
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Not a guess, that is an accurate statement. Many companies that are diluting blame the decrease in PSS on short selling. PLNI was trading at .0016 in August. Then they probably had a few favorable PR's and drove the PPS to .019 range. They raised the A/S. Why do you think they did that, just in case? They have 100M preferred shares that no one bothered to learn the conversion ratio or detail of, why do they have the them at all? I assume you have a substantial amount invested in this stock. Fortunately I do not own any. I am simply trying to make you aware the ways these companies screw you. No skin off my nose, you''ll see dilution and a R/S, and your 100,000's of thousands share become 100's of shares with a PPS that will drop faster than rock.
-------------------- A million seconds is 13 days. A billion seconds is 31 years.
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I should add he was pretty disdainful of message boards and made me run through the whole explanation of the 5 billion question over the weekend even though it eventually became clear he'd gotten calls about the message traffic from other investors. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
I mean, it's also possible Matt was wrong about the 5 billion. I say that because frankly he was an unimpressive character. Maybe he was off his game after getting irate calls, but he was very defensive. Oh well. I have bad days myself. He also spoke as if every sane person in the world knew the a/s had been 5 billion for some time, and I can't imagine he would be so ignorant as to believe that.
State, Thanks for the report. I don't think its just that Matt was having a bad day, although I'm sure he was, its that he got exposed and now its time for damage control and denial.
I think he put you through the paces on the 5 billion because he plays the rolling denial game. This was a common practice in Washington during the 90s. You only tell as much truth as the questioner is aware of and lie about the rest. When the questioner learns more, you acknowledge more, but claim you were honest about it all along.
Matt will not respond by email. He does this so he can never be held legally liable for any misinformation he broadcasts verbally. He was very terse and defensive in all my conversations with him. I first chalked it up to catching him at the wrong time. Later I figured out it was becuase i was asking the tough questions.
A couple months ago he stated the authorized was 2.0 billion and could not be raised without a vote of the shareholders. Now he acts as though everyone should have known it was 5 billion? This is a game and we are his pawns. When I corrected him on several points earlier, he always had a slick response. For example, when he said PLNI had no competition for plastic rebar supports, I came back with Aztec. He then said he meant no publicly traded companies. When I asked him of any other private company competitors he said it was not his job to promote other companies products, as if this was immaterial to PLNIs prospects.
Matts job is to get people to buy shares and to run interference for Turek and Howe. IMO, you cannot believe anything he or the company says from here on out. If they are dishonest with the shares and hire a promoter to do PR, you cannot trust them on anything. The fact that some of the business developments they have announced are clearly moving forward only sets us up to believe they must be credible. Its a very mixed bag and there are at least 5 billion shares in that bag.
-------------------- Logic can protect you from the hazards of faith, hope and trust.
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quote:Originally posted by successinstock: one thing to watch and add to our many questions on trading activity is the fact that the volume spikes at the end of "each" day.
see for yourself..
i find this odd. i have tracked other stocks that were in the camp of the short sellers and plni is acting very similar.
I think a good chunk of these late trades are actually trades made earlier that did not get recorded and corrections of earlier trades. On the L2s for today you see 4 sets of likely corrections totalling 24 million shares that incorrectly were added to the total volume for the day. Its common for MMs to square up and correct thier ledgers at the end of the day. Notice the trades are recorded at the same time and same volume and possibly same price. The first probably reiterates the original trade, the second cancels the first and the third changes one parameter and is the corrected trade. When all three look identical there is probalby a parameter we cannot see on our L2s [like name of MM or counterparty] that is being corrected. Since our L2s are abreviations of the total data recorded we don't see the notations of what is actually going on.
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I wonder what is in store for us today maybe some one at plni will address the issues and say what there intentions are. We will see
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Well with all the news coming up it is either a good time to buy or into this good news plni will be diluting and the pps won't do anything like we think it should at this time the company,s credibility looks pretty bad and they did not have good intentions for the share holders only time will tell you noticed nobody came forward to dispute anything
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Matt still continue's to sell through VFIN. What a dirty little weasel! Don't trust any information you receive from this clown. His priorities differ's greatly from ours. We need info from JT or BH only.
Has anyone here been taking the time to read this Sarbanes-Oxley crap? Geeeeezzzz! Cost a small fortune, limited amount of Sarbanes qualified auditors,etc,etc,etc...This crap is made to protect investors! Nonsense my boy! Answer to 99 out of a 100 questions- $$$$$$$$ After thy uplisting to the OCTBB, Plasticon better receive a massive tax break or something! Ridiculous!!
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I wonder if the Plasticon guys attended this conference? Good way to continue to get the name and product out.
The 2005 PCI National Bridge Conference - Bridges For Life™ The PCI National Bridge Conference (NBC) is the premier national venue for the exchange of ideas and state-of-the-art information on concrete bridge design, fabrication and construction - particularly precast, prestressed concrete bridges. The 2005 NBC will be held in conjunction with the PCI Annual Convention and Exposition, October 16-19, 2005 at the Wyndham Palm Springs Hotel & Convention Center in Palm Springs, California.
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Why the F*** do they hire Mapple to issue press releases, pay them in shares, and then agree to allow Mapple to dump them into the open market? What a friggin kick in the A** to the shareholders.
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Big Apple as I read the info only has about 50 million shares. There are small groups of stock holders here that have a much larger stake than that.
-------------------- It will run when you least expect it. :)
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Mb... I'm not a big fan of Apple either...but...you sure your reading this right with the shares...??? I don't think they've dumped one share...not a one... I think the mm's went after more shares by walking up the PPS to get them...Like scavangers..
quote:Originally posted by mbmaid: Why the F*** do they hire Mapple to issue press releases, pay them in shares, and then agree to allow Mapple to dump them into the open market? What a friggin kick in the A** to the shareholders.
quote: Mb... I'm not a big fan of Apple either...but...you sure your reading this right with the shares...??? I don't think they've dumped one share...not a one... I think the mm's went after more shares by walking up the PPS to get them...Like scavangers..
I think so too, and I hope we're right. But there's this thing with the extra 3 billion shares, and what Cold says makes sense. I don't know what the hell to think. I backed up the truck at .0127 thinking I was making a steal. Now we have a whole new level of shareholders that'll sell just over a penny...unless it runs hard. I keep telling myself to close the computer and check back in at the end of the year.
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It states "the total number of shares of stok the corporation shall be authorized to issue is FIVE BILLION (5,000,000) SHARES OF COMMON STOK WITH A PAR VALUE OF $.001"...
Excuse the caps that was from the statement on the form...
I will get with Dagger to see if he can post this on his website.
This is public information, it is not secret insider info.
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This action is very disturbing. Many more buys than sells and VFIN now forcing it lower after fading this morning and allowing a little run. The fade this morning was consistant with a long seller trying to get the best price. The rather illogical walk down against the flow now is consistant with either a naked short going for the knockout blow [unlikely, IMO], or a long seller desperate to reach a certain dollar amount by a given date.
The lower this goes, the more shares it takes to raise the same amount of money. Could they be under a strict time pressure to raise a given amount of money? Its looking more and more like that now. Not trying to pile on here, but this is starting to feel like a death spiral and VFIN is at the controls. All IMHO.
-------------------- Logic can protect you from the hazards of faith, hope and trust.
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quote:Originally posted by successinstock: dagger you have mail
Super & depressing & very necessary DD. Confirms the A/S count that Mapple gave me yesterday on the phone. Contradicts his statement that it had been at that level since he started handling PLNI.
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