posted
The float increase from the last update of over 1.6 Billion looks extreme, but I think that's partly because the float they reported to pinksheets in Dec. was lowballed. By counting the VFIN shares the float back then was probably more like 1.0B, so the increase since then would have been 1.3B. That would be in line with the sales we saw with VFIN.
Not sure this really means much in the big picture, but could clear up confusion for those who have been counting VFIN trades this past month and scratching their heads. Plus it lends credence to my suspicions the verbal numbers JT gave pinksheets back in Dec was another deception. This time it was faxed and looks more legit. I always trust the written over the verbal.
-------------------- Logic can protect you from the hazards of faith, hope and trust. Posts: 382 | From: California | Registered: May 2005
| IP: Logged |
posted
What were the original figures before VFIN was selling before November ?
1.8B O/S 500M Float
???
-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
| IP: Logged |
quote:The float increase from the last update of over 1.6 Billion looks extreme, but I think that's partly because the float they reported to pinksheets in Dec. was lowballed
I wondered about that--when most everyone was fainting over the 60% higher o/s, I was falling out of my chair over a float that more than tripled.
Posts: 610 | From: DC Metro area | Registered: Jun 2005
| IP: Logged |
posted
will--are you asking if those were the figures? In any case, those are close to the earliest ones I remember (I originally bought in last May, before selling out maybe 10 days ago). The smallest outstanding I remember at pinksheets was 2.0 billion; for awhile, some were claiming it was really 1.8 billion because of an earlier share reduction PLNI was talking about (while simultaneously diluting).
Posts: 610 | From: DC Metro area | Registered: Jun 2005
| IP: Logged |
posted
L2s are available at pinksheets dot c o m. right now 64 X 65 (four at bid, one at ask)
Posts: 610 | From: DC Metro area | Registered: Jun 2005
| IP: Logged |
posted
Here's an interesting article on BAC regarding allegations of fraud in their dealings with a Canadian penny stock. Something to keep in mind for when the damage control starts in few days. Remember, a lot of these touts may still be stuck holding shares and will need to pump. OTOH, the difference between the float and reported o/s is not that great, indicating either the touts don't hold much having been dumping all along, the o/s number may not be accurate, or insiders have been dumping as well. If the numbers are correct that would mean that JT and insiders only control 38% of the company. That is hard to believe and pretty remarkable if true. I need to find out how it could impact their ability to issue shares w/o asking or informing shareholders.
-------------------- Logic can protect you from the hazards of faith, hope and trust. Posts: 382 | From: California | Registered: May 2005
| IP: Logged |
quote:Here's an interesting article on BAC regarding allegations of fraud in their dealings with a Canadian penny stock. Something to keep in mind for when the damage control starts in few days.
Yep, which is already in gear. Shad over at rb just called Rodney of BAC, and reported that Matt Maguire "is not upset" and the "shares were used in companys best intrest.. " Turek's, certainly.
Ohhyeah--pinksheets posted a float increase of 330% and higher outstanding share count of 60%. (3.7+ billion)
Posts: 610 | From: DC Metro area | Registered: Jun 2005
| IP: Logged |
posted
Just wait till they do the same thing for Semco that they did last year for PLNI.
New website and mareting campaign and price shoots up and they promise audit again and again and a new group of bashers will be around then you swing it again!!
Posts: 952 | From: OH | Registered: Apr 2005
| IP: Logged |
quote:Originally posted by clbgroove: Just wait till they do the same thing for Semco that they did last year for PLNI.
New website and mareting campaign and price shoots up and they promise audit again and again and a new group of bashers will be around then you swing it again!!
I'm afraid you may be right. Its been quite some time since they've even mentioned Blulinx or plastic rebar supports. A recent Semco PR said they expect it to be the largest revenue source for the company.
Given their previous history of changing the name after the Wicklund name became entangled in the bankruptcy filing, another name and symbol change may be in the works. The Plasticon name is getting a bit tarnished. When people start calling it Plasti-CON, then its time to change the billboard.
-------------------- Logic can protect you from the hazards of faith, hope and trust. Posts: 382 | From: California | Registered: May 2005
| IP: Logged |
posted
Good point. I didnt even think of that cause needless 2 say I'm so confused by these guys at this point but i did pick up more in the 48s early this morning!! Couldnt resist my dumb self!!
Long and Strong!!! LMFAO
Posts: 952 | From: OH | Registered: Apr 2005
| IP: Logged |
posted
clb... I grabbed an extra 1 million myself. Like you I could not resist.
I suspected the increase in O/S for a long time, as they didn't have enough cash flow to purchase these two companies and the new injection molding equipment outright.
PLNI still only has a market cap of $20 mill even with the increased O/S. The Promold facility, equipment and customer base alone are worth that amount.
-------------------- A good friend will bail you out of Jail. A great friend will be sitting next to you saying... Damn that was fun! :) Posts: 3353 | Registered: Nov 2004
| IP: Logged |
posted
I am guessing that we close around .0066-.0070 today!
-------------------- A good friend will bail you out of Jail. A great friend will be sitting next to you saying... Damn that was fun! :) Posts: 3353 | Registered: Nov 2004
| IP: Logged |
posted
So FOT-you suspected that Turek was being deceptive when he said the acquisitions would not be dilutive? And when he issued PRs about an imminent share buyback at the same time he was diluting?
How does that reflect on anything he has claimed about Promold (remember them) or Semco? I'm just wondering what formula you use to decide when Turek is misleading us and when he isn't.
Posts: 610 | From: DC Metro area | Registered: Jun 2005
| IP: Logged |
posted
Interesting to note that VFIN is on the ask again. Even on a day like today they feel a need to sell more shares. They did try to support it briefly at .0006, but quickly backed off in the face of massive selling.
Congrats to those who bottom picked well - up over 20% right now - but keep in mind you still have competition on the sell side and as we found out yesterday they have very deep pockets.
-------------------- Logic can protect you from the hazards of faith, hope and trust. Posts: 382 | From: California | Registered: May 2005
| IP: Logged |
posted
if we hit .007 today....i am out. I have been in this too long. Tired of the "soon" crap. I would be fortunate to walk away from this even.
Posts: 221 | From: michigan | Registered: Jun 2005
| IP: Logged |
posted
well, anything can happen with a pink, success. GLTA playing the bounce. The truth is it can go in any direction. The problem with PLNI is you have to play the stock on emotion (hopefully the market's emotion, not your own) rather than anything the company says. IR (Big Apple/BAC) either doesn't have a clue or just flat-out lies. PLNI itself, at an absolute minimum, has no compunction about deceiving the public, as illustrated by dumping shares at the same time it was putting out PRs about a buyback. If they launched a buyback now, they would be keeping that pledge only in the most lawyerly sense, not in any way that governs normal honest communication between parties.
The other day I watched a pinksheet fall from $2.60 to 40 cents in one day. A likely candidate for a bounce. It held steady at that level for two days, then fell to 25 cents.
Much more thinly traded than PLNI, though. GLTA, there is money to be made in bounces but only by skilled and lucky riverboat gamblers.
Posts: 610 | From: DC Metro area | Registered: Jun 2005
| IP: Logged |
The fact that they increased the A/S, used shares to acquire assets,is not right,when they said the acquisitions would not be dilutive. HOWEVER, we have no idea what the agreements look like as far as how the shares were leveraged.
I have been to and seen the Promold facility years ago. My father still visits there for other business about once per quarter. When they said they purchased the Pre-eminient facility in the mid-west, they weren't lying. That facility and operation is worth nearly what PLNI market cap is right now!
I am holding long, as I still believe PLNI to hold a lot of potential. As a small, start up company, they are in a major growth period, and using their shares is one step in funding that growth.
The one question you must ask, is what did they receive in return for issuance of those shares, and is the value of the assets worth what they paid, and can it provide a significant return on their investment?
The answer to these is Yes, Yes and YES!
-------------------- A good friend will bail you out of Jail. A great friend will be sitting next to you saying... Damn that was fun! :) Posts: 3353 | Registered: Nov 2004
| IP: Logged |
quote:Originally posted by bobcat88: So would you feel more comfortable with your money riding on USXP or PLNI *.0060?
I don't have enough clean underwear in my drawer to trade USXP. Now, that's what I call volatility.
That brings up an interesting investment opportunity. If there was a way to find out what companies are buying suber bowl ads before they are aired (or promoted) there could be some hot stocks in there.
-------------------- Logic can protect you from the hazards of faith, hope and trust. Posts: 382 | From: California | Registered: May 2005
| IP: Logged |
The fact that they increased the A/S, used shares to acquire assets,is not right,when they said the acquisitions would not be dilutive. HOWEVER, we have no idea what the agreements look like as far as how the shares were leveraged.
I have been to and seen the Promold facility years ago. My father still visits there for other business about once per quarter. When they said they purchased the Pre-eminient facility in the mid-west, they weren't lying. That facility and operation is worth nearly what PLNI market cap is right now!
I am holding long, as I still believe PLNI to hold a lot of potential. As a small, start up company, they are in a major growth period, and using their shares is one step in funding that growth.
The one question you must ask, is what did they receive in return for issuance of those shares, and is the value of the assets worth what they paid, and can it provide a significant return on their investment?
The answer to these is Yes, Yes and YES!
Nobody knows for sure where the proceeds from the stock sales and issuances went. Whether to buy the facilities they said they would not dilute to buy, or to pay off JTs bankruptcy debts, or salaries, or loans to other entities he controls like he did in the past with TBLU(then forgave the loans), or to pay touts to help sell more sales, etc....
To state so emphatically that they got us value for whatever they did given their dishonest behaviour is a reckless assumption, IMO.
-------------------- Logic can protect you from the hazards of faith, hope and trust. Posts: 382 | From: California | Registered: May 2005
| IP: Logged |
posted
Finally cut my losses on CRGO and am now the very nervous /proud owner of 528200 shares of USXP. Think this will be a very short short. Nothing like buying in at the top of a spike hoping for an even bigger spike.
-------------------- "Man who excels at putting worm on hook is Master Baiter" Posts: 678 | From: Boise, Idaho | Registered: Nov 2005
| IP: Logged |
posted
Well guys and gals...THAT DOES IT! After holding 1 1/2 years I sold out my entire position today. Not NEAR the profit I could have had at .019 or even .015 but a small profit. I'm so tired of all their lying crap. I will move elsewhere and PLNI can cram it. I will maybe buy back in a few months when the PPS is at.0019 or lower when they fire up the whole new (we are completing our audit crap) and suckering in all the newbies again. IMHO this stock will NEVER have an audit. It's just the way they make their money. Good Luck to all in here. I will keep checking.
Note: looks like my Home Run retirement stock ended up being about $1200 bucks....will probably move more into PBLS. GLTA!!!!!
-------------------- It's only money..We'll make more tomorrow! Posts: 788 | From: Tx. | Registered: Jun 2005
| IP: Logged |
quote: When they said they purchased the Pre-eminient facility in the mid-west, they weren't lying.
Actually, they were, in the headline of their PR announcing the completion of the Promold acquisition. It's "pending" SEC approval, for unstated reasons. In any case nothing has been purchased yet.
Posts: 610 | From: DC Metro area | Registered: Jun 2005
| IP: Logged |
posted
Good luck DQ. No one can ever accuse you of lacking patience.
-------------------- Logic can protect you from the hazards of faith, hope and trust. Posts: 382 | From: California | Registered: May 2005
| IP: Logged |
At least you are moving on to another good stock! If there such a thing down here in penny land!
-------------------- A good friend will bail you out of Jail. A great friend will be sitting next to you saying... Damn that was fun! :) Posts: 3353 | Registered: Nov 2004
| IP: Logged |
quote: IR's Jackie says dilution was used to pay for services (lawyers, accts.) and had nothing to do w/ the acquisitions; expect PR's next week but she doesn't know what they will be about; audit and buyback news 2 weeks away
Those must be really expensive lawyers and accountants.
Posts: 610 | From: DC Metro area | Registered: Jun 2005
| IP: Logged |
posted
See, there's nothing to worry about. The audit is coming, and they'll probably increase the amount of the share buy back too. I am learning so much here. Guys taking a sizable postion, and suspecting that the O/S was being diluted 200% and the Float was being diluted 460% in the last three months, but being brave enough to buy into that suspicion, shows a lot of courage. Timing, wow! what can I say about what I have learned about timing, guys holding long, and suddenly changing stragedy right before bad news hits. I just can't believe my good fortune that I get all these lessons for free. I sure wish I was that smart and shrewd.
-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
| IP: Logged |
Topic Closed
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
