posted
Cold...There has been some slow accumulation lately...This happened right before Momo and his folks ran TBLU as a group play...Trading at .025 now...Also rumors of TBLU being a part of what's happening with PLNI...Good luck...
quote:Originally posted by cold_up_here: My fault...forgot the 'E',thanks bear!
Posts: 2660 | From: Pennyland USA | Registered: Jun 2004
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posted
A source close to PLNI just informed me to start buying. When I pressured, he said he could not let the cat out of the bag, but that it is something we have been waiting for.
I've added another 200k at .0062.
Posts: 871 | From: New York, NY | Registered: May 2005
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quote:Originally posted by mbmaid: A source close to PLNI just informed me to start buying. When I pressured, he said he could not let the cat out of the bag, but that it is something we have been waiting for.
I've added another 200k at .0062.
The cat is long gone
-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow Posts: 4727 | From: Elk Grove ( Sacramento )CA USA | Registered: Jun 2004
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quote:Originally posted by successinstock: who's the source?
did he mention that this "something" would be soon?
Maybe "Cat In The Hat" when we get a PR then that is creditable, until then it's just speculation.
-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow Posts: 4727 | From: Elk Grove ( Sacramento )CA USA | Registered: Jun 2004
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posted
Hey MB... Spill the beans buddy...What time frame did you understand something would happen...
quote:Originally posted by mbmaid: A source close to PLNI just informed me to start buying. When I pressured, he said he could not let the cat out of the bag, but that it is something we have been waiting for.
I've added another 200k at .0062.
Posts: 2660 | From: Pennyland USA | Registered: Jun 2004
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posted
Also added more today....I promised myself years ago never in a million years to cost-average down again. Well, here I am doing just that! God I must be totally brain dead!! I will pay any amount, but will someone Pleeeaasseeee stab me with a knife! Bawhahahahahahahaha
Posts: 225 | Registered: Jun 2005
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posted
The buys look like people are shaking their piggy banks I also shook mine.
-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow Posts: 4727 | From: Elk Grove ( Sacramento )CA USA | Registered: Jun 2004
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"******* just called said to buy more plni here. I asked why and he he said he was not able to let the cat out the bag."
This came from a friend with a PLNI connection, and it is credible, that is all I can say.
Posts: 871 | From: New York, NY | Registered: May 2005
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posted
if that was the exact email sent to you, then how did the "it is something we've been waiting for" part come about?
Posts: 45 | Registered: Jul 2005
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-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed Posts: 1772 | From: Oxford, PA, USA | Registered: Oct 2004
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quote:Originally posted by cold_up_here: Anyone on the board have some extra cyanide that I could purchase?
No, but I find that throwing yourself under a freight train will work in a pinch.
Posts: 610 | From: DC Metro area | Registered: Jun 2005
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posted
I've been a big fan of PLNI since it was at .0015 in april, I added at .003 rode it up, dumped at .007, added more at .007 and dumped the rest at .012. Jumped back in at .0055 recently and sold at .0074, I'm looking to add again if it drops below .006 again I was out of the office this week and missed the .0058
But before I add, which may be even in the .006's I'm going to wait for some sort of uptrend signal, the only reason I got in at .003 back in may was because of some post on RB that piqued my attention. Now I only play it on charts since I can never predict when Mr. Turek is going to release his news.
-------------------- If you are not having fun, you are probably losing money Posts: 37 | From: Baltimore | Registered: Sep 2005
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posted
So what happened to the cat? Did someone tie the bag too tight?
-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow Posts: 4727 | From: Elk Grove ( Sacramento )CA USA | Registered: Jun 2004
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posted
FYI, Plasticon amended their filing in Wyoming again on 11/21/05. I don't have a fax machine so I am relating what was said to me over the phone. Given the history of misinformation in PLNI related over the phone and then on to the BBs please feel free to verify(call 307-777-7311 and they can fax you a copy).
They amended the fourth article relating to capitalization to reflect the increase to 5 billion common shares (approved 10/13/05) and 100 million preferred shares (approved in April) for a total of 5 billion 100 million total shares.
It appears that all this does is reiterate the 100 million preferred shares that were not mentioned in the 10/13/05 filing. It clears up a question I had whether they could add a class of shares in one amendment and not have to mention them later, but still have those shares available to them. Hopefully this means they cannot do that, so it makes the job of keepiing tabs on them a tiny bit easier.
Since they can add to authorized shares at any time without any notice to shareholders, I would suggest anyone invested in the stock to bookmark this URL:
Enter "platicon" and look at the filings every day. It might be a good idea to also enter Telco Blue, since Turek moved its incorporation to Wyoming last year. Telco Blue is basically a shell traded on the OTC BB. Since he controls both and one is already on the OTC BB, he may try to use that entity as a shortcut or workaround for PLNI at some point.
The company is still stonewalling on the float and O/S issue. Pinksheets has been on their tail for weeks to give updated and accurate info, but to no avail. I suspect they will keep this up unless and until the SEC gets involved since Pinksheets has no regulatory authority. From msgs on the BBs, it appears Mapple is still telling people the float is 500 million. Given that the company is aware that BAC lied to investors about the a/s in the past and is still keeping them on, I would assume the company approves of the misinformation, if not actually directing it.
If the msgs on the BBs are to be believed, the company continues to talk to investors and lead people to believe fairy tales. Yet they don't have the time to put anything they say on the phone in writing (letter, PR, or email). Poor ethics, but good lawyers. They will continue to do this as long as there are enablers willing to play along. Sadly, the pinks are filled with wide-eyed enablers who view stocks the way most people view their local sports team.
The reiteration of the 100 million preferred may mean they are getting close to issuing those shares in a restructure or part of the SEMCO/ProMold deals. I've felt all along that the SEMCO folks would not sell for whatever cash Turek could raise "privately" alone. If we ever get the whole picture, I'd bet it includes a considerable amount of future dilution (in addition to the hundreds of millions they've already sold). Convertible preferred shares, warrants, and stock options will probably kick in on any significant advance in the stock. They may claim the deals are not dilutive because at .006/share today, warrants, preferred shares or options cannot be exercised. For the stock to grow to .05/share or more it would probably be prudent to assume the capitalization will be closer to 5 billion than 1.8 billion. A much bigger hurdle than the 1.4 billion (less retired shares) that was being implied 6 months ago.
Given their actions, it makes sense to expect a major change from the most recent info (500 million float, 1.8 billion o/s) when the truth comes out. They may keep quiet until they can announce a major restructure and financials. They could then bury investors in high expectation spin, and hope no one will notice they've been deceived regarding dilution and all the other issues.
GLTA
-------------------- Logic can protect you from the hazards of faith, hope and trust. Posts: 382 | From: California | Registered: May 2005
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quote:Pinksheets has been on their tail for weeks to give updated and accurate info, but to no avail.
That's interesting because in my one conversation with Matt Maguire at Big Apple, when I raised the issue of pinksheets showing something like 2 billion a/s instead of the 5 billion, he muttered something about PLNI not being responsible for information on other websites.... but that he'd look into correcting that (this after I noted that at least part of the pinksheets feed is embedded in the Plasticon website). I'm sure it was at the top of his to-do list.
Is he even still there? There's a new lad named Rodney that others have referenced, and I've not been able to establish if he's replaced or been added to Maguire. I'm not bothering calling myself because there were so many misleading statements and as far as I can determine some outright lies in my conversation with Maguire that I deemed it a waste of my time to try that outfit again (which is why all the info other posters on a variety of boards rely from Big Apple is close to useless, IMHO.)
Posts: 610 | From: DC Metro area | Registered: Jun 2005
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quote:Originally posted by state780: Super DD, Stock.
Is he even still there? There's a new lad named Rodney that others have referenced, and I've not been able to establish if he's replaced or been added to Maguire.
From BACs perspective it makes sense to rotate operatives over time. I have to believe I'm not the only one trying to get Matt to answer why he lied to me, or how he can be so blatantly ignorant on issues directly related to his area of supposed expertise. A new guy can say 'I can't speak for what someone supposedly said, but I can tell you that I know...' It makes their job a lot easier.
I love the way they disingenuously blame the BBs for all the bad information. Reminds me of the politician who enjoys the services of 'trailer trash' but labels them as 'not credible'.
-------------------- Logic can protect you from the hazards of faith, hope and trust. Posts: 382 | From: California | Registered: May 2005
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posted
my take? Matt/Apple ran into a different share structure than HISC...
imho? instead of encouraging them to "bring biz up to snuff" ? DITCH 'EM...WiDESPREAD & HARD: let the lesson be learned that when they *need* shareholders to finance this stuff? Better play straight...
posted
Ok, so after reading your post stockhunter, do you think that they are holding this quiet while we buy up shares to pay for these Acquisitions? IMO plni will keep selling shares and say nothing until the SEC gets on there back. Then turk will come out with the information, which will prob include some crap like a reverse stock split. People lieing, no information avaible, no PR and PPS dropping. Im sticking to plni but this is getting me more nearvous as the days go on. I smell a whole lot of rotten fish but i guess it looks like we are all still going to eat it.
-------------------- Do your own DD Posts: 27 | From: NY | Registered: Nov 2005
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quote:Originally posted by jibber39: Ok, so after reading your post stockhunter, do you think that they are holding this quiet while we buy up shares to pay for these Acquisitions? IMO plni will keep selling shares and say nothing until the SEC gets on there back.
IMO, we have already financed the acquisitions with all those purchases in Sept, Oct and early Nov. That's when WDCO and VFIN sold between 300-600 million shares. The sales accellerated in early Nov. and then stopped(from what I can read through the L2s). The timing corresponds to the planned closing dates for the acquisitions. It also corresponds to the time the SEC began to look into their actions and stock activity (from my conversations with them). So its also possible the sales stopped because they were being questioned by the regs. Unfortunately, without PRs and with them stonewalling on the float information, its very difficult to know what's going on for sure.
I think they're being quiet because they know they're being watched, and because the truth will expose them to further scrutiny(and possible lawsuits). I think the next PR we see from them will include most or all the major outstanding issues in one big lump. That means acquisitions, restructuring, management changes, possible name change/reverse merger/audit/OTC BB/etc... plus a healthy dose of spin so the enablers can help them cover up their questionable activities.
-------------------- Logic can protect you from the hazards of faith, hope and trust. Posts: 382 | From: California | Registered: May 2005
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posted
Can any long term holders shed some light on this information posted on SI board? It claims that James N. Turek (think its the son) filed for BK in 2002 and claims the creditors were to be paid $4.7 million from sales of PLNI stock. If this is true it could explain the unexplained increase from 1.4 billion to 1.8 billion shares. It also adds up to about the right amount of money from the WDCO and VFIN stock sales. If true, this would be a somewhat positive development, IMO. It would explain why someone issued virgin shares would dump at any price regardless of the company's prospects. Here's the post:
That is the amount of unsecured claims in the bankruptcy case for James Turek listed below. This from the Third Amended Reorganization Plan that is included in the public court documents.
It also states that Plasticon will issue treasury stock to satisfy the $4.7 million in unsecured claims. The stock will then be sold by the creditors.
Does anyone know the amount of PLNI stock that was issued by PLNI in order to satify these claims?
Has the PLNI stock been issued yet or is it planned to be issued in the near future?
FROM PACER:
U.S. Bankruptcy Court Northern District of Florida (Panama City) Bankruptcy Petition #: 02-20411-LMK
Assigned to: Judge Lewis M. Killian Jr. Chapter 11 Previous chapter 11 Voluntary Asset Date Filed: 05/14/2002
JAMES N. TUREK 3166 CUSTER DRIVE SUITE 303 LEXINGTON, KY 40517 SSN: xxx-xx-0382 Debtor represented by C. Edwin Rude, Jr. C. Edwin Rude, Jr. Attorney at Law 211 E. Call Street Tallahassee, FL 32301-7607 850-222-2311 Fax : 850-222-2120 Email: edrudelaw*earthlink.net
United States Trustee 110 E. Park Avenue Suite 128 Tallahassee, FL 32301 850-521-5050 U.S. Trustee represented by Charles F. Edwards Office of U.S. Trustee 110 East Park Avenue Suite 128 Tallahassee, FL 32301 850-521-5050 Fax : 850-521-5055 Email: charles.edwards*usdoj.gov
02/23/2005 286 Third Amended Chapter 11 Plan As Restated Filed by Debtor JAMES N. TUREK (RE: related document(s)197 Chapter 11 Plan, ). (Attachments: # 1 Exhibit A# 2 Exhibit B# 3 Exhibit C)(Rude, C.) (Entered: 02/23/2005)
-------------------- Logic can protect you from the hazards of faith, hope and trust. Posts: 382 | From: California | Registered: May 2005
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Very sad about that wdco/vfin sale activity--because the ability to sell all those tens of millions of shares showed, after, strong interest in the stock.
Posts: 610 | From: DC Metro area | Registered: Jun 2005
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quote:Originally posted by state780: Fascinating, stock (also I have no idea).
Very sad about that wdco/vfin sale activity--because the ability to sell all those tens of millions of shares showed, after, strong interest in the stock.
I hope someone did some DD back when this BK info hit and can share because my time is limited to keep investigating these guys. Just got my cell phone bill and it was huge. All the time spent talking to regs and others trying to get to the bottom of all this.
If the BK info is true it would make a lot of pieced fall into place. It would explain why a company that claimed it didn't need to sell stock for acquisitions would aggressively market the stock. They spent a lot of money and gave away a boatload of shares to raise that money through stock sales.
It is a shame so many people took a bath believing the company when they implied there would be no dilution when they said they wouldn't sell shares to finance acquisitions. The lawyers would point out that the company did not sell the shares directly (the creditors would have), so technically they would be correct. It would also explain why they won't release updated float information. The increase would require an explanation.
If I don't hear anything this morning guess I'll have to pay PACER and get the info myself. It still doesn't change my feelings regarding future dilution. They wouldn't have increased the a/s and added the preferred stock unless they planned on using it. I can't imagine SEMCO selling for cash only. They probably will have some sort of securities that will convert to common if the company does well (and put a big obstacle to our share appreciation).
-------------------- Logic can protect you from the hazards of faith, hope and trust. Posts: 382 | From: California | Registered: May 2005
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posted
Patience pays off. Scionist on SI board just posted the Turek Bankruptcy case (less exhibits/charts that add all the shares, but those may be coming). Thanks Scionist, you saved me a lot of time. Here's the link. Hit the "read replies" link in upper right corner to follow through the long document.
There's a ton to go through here and walking back to the capital structure back in Wicklund days will take some DD, but bottom line is treasury shares were issued to pay for all this. Biggest chunk of creditors getting shares was for $4.7 million dollars. They say $1.5 million in debt gets 1.0 million shares, but those shares have been adjusted by splits and/or recap since then. They did an 8-1 split early 2004 and possibly other cap changes, so not sure how many of today's PLNI shares this adds up to.
There's also one creditor not included that is suing the company in a seperate suit. Here's the key paragraph:
Class 20: Unsecured Claims Of Debtor as Guarantor of Debts of Wicklund and its Affiliates or as Co-Debtor/Defendant with Wicklund
This class consists of the claims of seven creditors holding claims in the amount of $4,793,145.00. With the exception of the Finance Network LLC d/b/a Export Finance Bank (hereinafter “Export Bank”), whose claim is based on litigation which is stayed as to Debtor and which is pending as to Wicklund, these debts were created as a result of Debtor’s guaranty of Wicklund obligations and Wicklund has agreed to the issuance of Wicklund Treasury Stock by issuing shares numbering approximately two-thirds of the indebtedness owed each creditor (eg. a $1,500,000.00 claim will receive 1,000,000 shares of Wicklund Stock). Upon confirmation of Debtor’s Chapter 11 Plan of Reorganization, Wicklund, if not already issued, will issue stock to the creditors in this class and upon the issuance of same Debtor will be released from any liability to said creditors. Further, upon the sale of the Wicklund stock, any indebtedness of Wicklund to the creditors in this class will be deemed satisfied and paid in full. The distribution of stock to members of this class is in addition to any Wicklund stock previously given as security to a member of this class. A chart indicating said creditors and the amount of stock they are to receive is attached hereto as Exhibit “C”.
I hope he's not hiding any other surprises (aka liabilities) from us.
-------------------- Logic can protect you from the hazards of faith, hope and trust. Posts: 382 | From: California | Registered: May 2005
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quote:Originally posted by state780: very, very interesting. Thanks for all the work, Stock, I appreciate it.
Really need to thank Scionist(and worm) at the SI board. They did all the heavy lifting. If I have the time I'll call my contact at the SEC and see what he thinks of all this. If nothing else I can find out if he uncovered this already on his own. He once called me back at 6:30pm from the office so I know he's not the usual gov't worker.
-------------------- Logic can protect you from the hazards of faith, hope and trust. Posts: 382 | From: California | Registered: May 2005
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