posted
Looks like the daytraders from yesterday exited. I look forward to the "clear up" on the pinksheets.com website and added news on the "audited" financials.
I hope you are all doing great today.
Posts: 221 | From: michigan | Registered: Jun 2005
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posted
PLNI needs some volume and follow up news and a break of .0049 and it should move again imo
Posts: 660 | From: california | Registered: Nov 2005
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posted
Scottrade showed almost a 1000% increase for a few minutes then it was back down to normal.May be a signal or a sign of things to come so bought 100,000 more shares to add to my original 100,000 shares which for a few minutes was over $4500 in value.PLNI has been languishing long enough and think it due for a RSHN-like climb.
-------------------- Despite the high cost of living it remains popular Posts: 165 | From: Waikiki Beach | Registered: Feb 2006
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posted
Sure would be nice to get a PR today or next week from management with a release date for the audited financials. I spoke to IR and they couldn't give me a definitive timeline only that updates would be forthcoming.
Posts: 660 | From: california | Registered: Nov 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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posted
LOLOLOL.........UN AUDITED .............HAHAHAHAHA......PLNI is SOOOO ****ed.............THE LAST 5 MONTHS they have been SAYING their AUDITING, NOW they spew out NUMBERS that they say are UN AUDITED so they cant be held accountable............LOLOL
Ive heard of investors pumping but THE COMPANY SO BLATENTLY doing so.........
Posts: 404 | From: MS | Registered: Nov 2005
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posted
well, i read thru the 10k and what i got from it were all the pr's from 2004 were lies and they have accumulated over 75million dollars in debt while they were saying they had little to no debt. jeez. and bluelinx and washington dc projects rejected their products because they were of inferior quality, yikes. on a positive note they say 2006 should be the breakout year for plni...
Press Releases 2004
On June 14, 2004, we announced that we reached an agreement to acquire A.T.G. Sports Industries, Inc. in an all-stock transaction. A.T.G. Sports Industries, with a history spanning over 24 years, is based in Andover, Kansas, and develops and installs artificial athletic surfaces for indoor and outdoor sports applications such as tennis, soccer, football, baseball, rugby, running tracks and field hockey. The Company also develops and installs a wide variety of surfaces for a many court-based sports as well as public parks and playgrounds.
While we have not completed this acquisition, there is still ongoing dialogue concerning construction products to be produced by PLNI. As a requirement of this acquisition, audited financials from ATG were to be presented to us within sixty days. As of December 31, 2004, these financials were not provided and as a result, we were unable to proceed.
On June 17, 2004, the Company announced that that it had received “three follow-on orders in excess of its existing contracts related to three major Washington, DC area projects. That the additional orders would have added in excess of $300,000 in sales to the Company’s rebar supports” (sic).
On June 23, 2004, we put out a press release projecting an increase in revenues since delivery of our rebar supports products was to begin through our national distributor, Georgia Pacific.
In an effort to procure raw resin that would decrease output costs and increase overall efficiency of the Company’s production cycle, materials were procured from a new source based on our specifications to the vendor. Unfortunately, due to misrepresentations by the resin supplier, the materials which we procured were of substandard quality and did not meet minimum engineering specifications. It was for this reason that the parts produced during this cycle of production were of inferior quality and were rejected by our national distributor. As a result of faulty raw resin, the production cycle and delivery of materials were interrupted, causing delays in the rollout of the contract with our national distributor. This effectively halted the orders with our Washington, DC projects and to the distribution center sales based upon the minimum requirements of the contract with our distributor.
On June 28, 2004, we published a letter which we had sent to all our shareholders in which we made several and various representations which were based upon in-house projections by our acting CFO at the time, Edward Gartska. It was our intention to refocus our efforts on procuring high quality materials that would exceed minimum engineering specifications. The process of procuring these high quality raw resins necessary to complete the specific molds was a problem which was beyond our control and consequently, took longer than expected causing further delays in the production and delivery cycles.
Again, on July 6, 2004, based upon a realistic assessment of the potential opportunities for growth, we put out an announcement modifying our projected revenues. Unfortunately, these projections were not reached due to the fact that the procurement process in reestablishing agreements with high-end raw resin suppliers was a more lengthy and complicated negotiation that ever anticipated. It is evident that it was not completed within a time frame that would have allowed for the Company’s projections to have been met.
July 12, 2004, we announced that we expected out audit to be completed within “90-120
days”. After in-depth discussions with L.L. Bradford and Company, the auditors, this was a time frame which they felt was realistic. However, negotiations with the auditors regarding the costs became a lengthy and exhaustive process as they soon began to exceed Company’s “initial expectations”. Our ability to move forward with this process was severely hampered, causing prolonged delays.
On July 26, 2004, we announced that we had received $40,000 in revenue from delivery of rebar support products. However, we never realized those projected revenues because soon after the press release, we had to recall the product because we discovered some faulty resins that did not meet specifications.
Although the purchase orders specified by our national distributor continued to be realized, we were unable to make timely deliveries and meet distributor demands due to an untimely and lengthy negotiating process in the procurement of superior resins. This was an unfortunate development that caused extensive delays in the Company’s ability to manufacture product and meet production cycles.
Apparently the products we shipped to the companies in Washington, DC had structural problems and were sent back to us with a request that we correct their concerns.
On September 14, 2004, a press release that was initially published on June 17, 2004, was inadvertently re-published.
We continued to struggle through negotiations for the procurement of high quality resins and was unable to successfully conclude negotiations for the procurement of these materials for a protracted period of time, completely curtailing the production and delivery of its rebar support products.
October 11, 2004, we announced that we entered into a Letter of Intent to acquire XYLOX of North America, Inc. Upon further due diligence, we determined that although the material was workable in small sizes, we could never validate that in full production, the product’s true commercial viability and more importantly, its compatibility with other product lines. We decided not to proceed with the acquisition.
On December 14, 2004, we announced that we had product being shipped to the BlueLinx distributors. BlueLinx contended that the products received were unacceptable and improperly dated. At that time, we realized that we needed to secure a more reliable and trustworthy resin source and recalled the shipments.
Posts: 515 | Registered: Mar 2005
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These are audited financials...Now we need the audited financials for 2005 then for the 1st quarter of 2006...The story will then be told and complete...Yes? This is a nice development for folks who have been hanging in with Turek and his road show...
Try not to get a wild hair up your arse until we see those remaining numbers...Chill IMO...
Posts: 2660 | From: Pennyland USA | Registered: Jun 2004
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posted
Sorry, guys, all I read out of this is that they have piled up 75M in losses, trying to sell an inferior product. Anybody who can read anything positive into this report had better lose the rose-colored glasses in a hurry.
-------------------- 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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posted
I bailed earlier...but I have to break down and admit I bought another Mill. shares. Things are starting to look promising to me. Be it next month or in the next 6 months. I'm a PLNI'er again. Where's ol' Cold up here????? Need him back!
-------------------- It's only money..We'll make more tomorrow! Posts: 788 | From: Tx. | Registered: Jun 2005
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quote:Originally posted by successinstock: are you negative about everything or is it just PLNI?
I tend to get negative about any stock that I own for more then 2 years and the company does not fulfill it's promises, PPS hardly ever moves. It just seems that "someday" never comes. Plus, over the years I have seen so many companies that just turned out to be ripoffs. CMKX, NCDP and RVMO to name a few. The jury is still out on PLNI, but none of us is getting any younger.
-------------------- 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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posted
Ed... This stock moved up and down for a long time...It was a beautiful stock to Swing Trade...Recently that movement has stalled and probably will stay that way until the CEO follows through on the promises you mentioned......I just wanted to get the record straight on that item where you said the PPS hardly moves...That is a recent development the past few months...
I started swing trading PLNI over a year ago and it has been good to me in that respect... accumulating shares and/or banking the profits...I'm hoping it does that again...
Posts: 2660 | From: Pennyland USA | Registered: Jun 2004
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posted
That may be my problem....I dont swing trade. I look for an honest company that I can invest in for the future. Problem seems to be that penny stocks dont think about "future". They make promises that they never keep, so I end up with vast amounts of money tied up in stock I cant get rid of without taking a loss. I'm not crying, it's a risk we all take playing the markets. If I ran my business like most of these penny stocks, I would have filed for bankruptcy years ago.....LOL
-------------------- 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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posted
Plasticon International Inc. Completes Audited Financial Statements
Plasticon Completes Audits and Submits Filings to the SEC
LEXINGTON, KY, May 08, 2006 (MARKET WIRE via COMTEX) -- Plasticon International, Inc. (OTC: PLNI) is pleased to announce they have completed their Audits and have submitted its filings to the SEC. Plasticon International Inc. has completed their audits for 2003 and 2004 and will now move expeditiously to complete their audits for the year end 2005 and the first quarter of 2006. Plasticon International's financial statements have been audited by Mendoza Berger Company, L.L.P., CPA, who has served as the independent auditor for the Company during the fiscal years ended December 31, 2004 and 2003. Plasticon International's financial statements have been filed along with an information statement on www.pinksheets.com. The Company is presently nearing completion of the 2005 audit and expects to make its filings available in the near future, along with the first quarter of 2006.
Upon completion of the 2005 year end audit and the first quarter of 2006, which the Company fully expects to have the very near term, Plasticon will submit the necessary filings to move the Company to the OTC:BB.
"We have commissioned a leading Market Maker to submit the necessary filings with the SEC and NASD to move the Company up to the NASDAQ Bulletin Board," said Jim Turek, President and CEO of Plasticon International, Inc. "It is our goal to move the Company to the NASDAQ Bulletin Board as quickly as possible. Once we have completed the move to the OTC:BB, we will then focus on bringing the Company to the American Stock Exchange."
Mr. Turek added, "This is a very exciting time for Plasticon International, Inc. This is truly a milestone for the Company. By completing its audits, Plasticon is moving forward and getting closer to its goal of moving to higher markets. In the coming days and weeks, the Company will be making additional financial information available to its shareholders and the public, which will include un-audited financial statements for the first quarter of 2006. These numbers will clearly show a dramatic turnaround in the sales and earnings of the Company and demonstrate unmistakably that the Company has turned the corner has now begun the initial stages of its growth years. Upon making the first quarter of 2006 financial statements available to our shareholders and the public, we fully anticipate being re-quoted on www.pinksheets.com."
Mr. Turek also noted, "There are many significant developments regarding sales that the Company will be discussing with its shareholders and the public in the coming days and weeks. Additionally, we will be implementing the buy back program and addressing the share structure of Plasticon International, Inc. Once again, the Company wishes to be clear that there are no plans for a reverse split now or in the future. The Company fully intends to address the restructuring of Plasticon's issued and outstanding shares through the buy back program, and we fully intend to commence the buyback in the very near term."
Posts: 147 | From: Weston, FL | Registered: Jun 2005
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quote:Originally posted by Homerunner: Plasticon International Inc. Completes Audited Financial Statements
Plasticon Completes Audits and Submits Filings to the SEC
LEXINGTON, KY, May 08, 2006 (MARKET WIRE via COMTEX) -- Plasticon International, Inc. (OTC: PLNI) is pleased to announce they have completed their Audits and have submitted its filings to the SEC. Plasticon International Inc. has completed their audits for 2003 and 2004 and will now move expeditiously to complete their audits for the year end 2005 and the first quarter of 2006. Plasticon International's financial statements have been audited by Mendoza Berger Company, L.L.P., CPA, who has served as the independent auditor for the Company during the fiscal years ended December 31, 2004 and 2003. Plasticon International's financial statements have been filed along with an information statement on www.pinksheets.com. The Company is presently nearing completion of the 2005 audit and expects to make its filings available in the near future, along with the first quarter of 2006.
Upon completion of the 2005 year end audit and the first quarter of 2006, which the Company fully expects to have the very near term, Plasticon will submit the necessary filings to move the Company to the OTC:BB.
"We have commissioned a leading Market Maker to submit the necessary filings with the SEC and NASD to move the Company up to the NASDAQ Bulletin Board," said Jim Turek, President and CEO of Plasticon International, Inc. "It is our goal to move the Company to the NASDAQ Bulletin Board as quickly as possible. Once we have completed the move to the OTC:BB, we will then focus on bringing the Company to the American Stock Exchange."
Mr. Turek added, "This is a very exciting time for Plasticon International, Inc. This is truly a milestone for the Company. By completing its audits, Plasticon is moving forward and getting closer to its goal of moving to higher markets. In the coming days and weeks, the Company will be making additional financial information available to its shareholders and the public, which will include un-audited financial statements for the first quarter of 2006. These numbers will clearly show a dramatic turnaround in the sales and earnings of the Company and demonstrate unmistakably that the Company has turned the corner has now begun the initial stages of its growth years. Upon making the first quarter of 2006 financial statements available to our shareholders and the public, we fully anticipate being re-quoted on [url= http://www.pinksheets.com."]www.pinksheets.com."[/url]
Mr. Turek also noted, "There are many significant developments regarding sales that the Company will be discussing with its shareholders and the public in the coming days and weeks. Additionally, we will be implementing the buy back program and addressing the share structure of Plasticon International, Inc. Once again, the Company wishes to be clear that there are no plans for a reverse split now or in the future. The Company fully intends to address the restructuring of Plasticon's issued and outstanding shares through the buy back program, and we fully intend to commence the buyback in the very near term."
-------------------- 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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posted
GB update is interesting.... Monday, May 8, 2006
Special Update from GB!
Plasticon Intl. (PK; PLNI)
News Alert: PLNI Issues Press Release before Market Open
Plasticon International Inc. Completes Audited Financial Statements
On Tuesday, April 25, The Green Baron Report provided an update on Plasticon International following the Company’s announcement it posted its disclosure document and unaudited financial statements with www.pinksheets.com. Our update was intended to assure our members that we were staying the course and still expected the Company to make good on its promises over the past year. Since the press release, chatter on the message boards warn that the Company would never file audited financials, conduct a buyback program, file to go on the Bulletin Board, or explain its shares structure. Still others are scaring investors with unfounded rumors like an imminent reverse split.
We believe scare tactics have helped contain the upside in PLNI share price till now. PLNI stock has given back the entire rally on April 25 to close once again at .0042 per share on Friday May, 5, the same closing price it had back on April 24. Adding to the concern, it appears the newly merged TD Ameritrade is asking many of its clients that hold Plasticon stock to move their accounts. We still cannot get an answer from Ameritrade why they would want to cast aside good clients other than that it was a “business decision”. It looks to us like some pencil neck at TD Ameritrade may soon need to peruse the classifieds for a new job.
Today’s press release confirms that Plasticon has filed audited financials, will follow through with a buyback program, and fully intends to go to the Bulletin Board. The Company recognizes the need to further explain its share structure and the current condition of the company. It appears that Plasticon is very excited about numbers from the first quarter of 2006. CEO Jim Turek states, “These numbers will clearly show a dramatic turnaround in the sales and earnings of the Company and demonstrate unmistakably that the Company has turned the corner has now begun the initial stages of its growth years.”
On April 25, 2006 The Green Baron Report said, “Most importantly, we firmly believe that Plasticon still has absolutely no intention to reverse split its shares.” In today’s news that strictly refutes the reverse split rumors it says, “…the Company wishes to be clear that there are no plans for a reverse split now or in the future.” CEO Turek adds, “The Company fully intends to address the restructuring of Plasticon’s issued and outstanding shares through the buy back program, and we fully intend to commence the buyback in the very near term.”
We recognize that a lot of Green Baron members own Plasticon judging by the amount of email we receive. We have been promising our members an exclusive Green Baron webcast with CEO Jim Turek and Senior Consultant Bill Howe as soon as audited financials were filed. The Green Baron Report has already been in contact with them and they have kindly accepted our request for a webcast interview. We hope to have the webcast interview available by the end of this week, and will ask many of the questions you have sent us over the past several months.
-------------------- It is always darkest before it goes completely BLACK!!! Posts: 2322 | From: FL | Registered: Aug 2004
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