posted
Around this time last year, the stock ran from $0.0025 to $0.02! I'm lookin' for a similar run, considering major announcements are on the way as far as I understood in a recent PR.
Another fact people need to seriously take into consideration is, the unaudited first quarter '06 financial statement shows Plasticon is profitable for the first time, correct? I wonder if this has anything to do with ProMold and SEMCO? Of course it does! If Plasticon can keep increasing revenues year over year, which is quite possible, then sky is the limit!
The company has a strategy in place IMO. This year is supposed to be the breakout year, the year for dramatic growth. The company acquired ProMold and SEMCO, which are excellent acquisitions. ProMold and SEMCO position Plasticon for major growth, believe it or not.
In addition, Plasticon has a share buy back in place, which will be executed in the very near future. As well, the company is submitting the necessary filings to move the company to the OTC:BB, then eventually to the AMEX, which will be a milestone, a key point for the success of Plasticon. A move to the OTC:BB would be excellent, considering pinksheets seems to be di*king Plasticon around in regards to removing PLNI quotes. As far as I'm concerned, Plasticon has filed the appropriate reports to regain quotation.
Keep your heads up and be patient, it may take a little more time than expected, but $0.01, $0.02 etc. is coming, you can count on it.
posted
I can wait...I'm young...patient...I ain't going no where.
Can't rush a good thing. That's when mistakes occur, the details get overlooked. A beautiful thing takes a little extra time.
PLNI is a diamond in the rough, but the glimmer is beginning to shine through. The character is beginning to take shape.
Before you know it...next thing you know...you'll wake up one morning...you will be forever transformed...you will never again be the person you were just yesterday.
Ball
-------------------- "It's a head game...climbing a mountain that is, 20% physical:80% mental."
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posted
Portion of PR from Plasticon released on May 8, 2006:
"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 pubic, 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."
I just thought I would post this in case folks forgot. We are all gonna be rewarded for our patience, these are exciting times for Plasticon.
posted
one thing you have to understand about plni, is that when they say they are going to do a share buy back, what they really mean is , is that they are going to delute the stock some more, in the past this is what they do, they do exactly the oppisite of what they say, so i am looking for a r/s or more deluting. The only reason they look like they are doing good now, is because they bought promold and that other co. which turned share holders in to bag holders. don't know about you but i have learned that after i have been lied to once or twice by someone, i am pretty sure they won't stop there. just thinking out loud , lol
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quote:Originally posted by TRM: one thing you have to understand about plni, is that when they say they are going to do a share buy back, what they really mean is , is that they are going to delute the stock some more, in the past this is what they do, they do exactly the oppisite of what they say, so i am looking for a r/s or more deluting. The only reason they look like they are doing good now, is because they bought promold and that other co. which turned share holders in to bag holders. don't know about you but i have learned that after i have been lied to once or twice by someone, i am pretty sure they won't stop there. just thinking out loud , lol
posted
I don't bash just to bash, they deserve it, and should be given some kind of penalty along with the rest of these co. that give out false information, to separate investors from their money.
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Everyone knows Plasticon has made some mistakes in the past, but this is supposed to be the breakout year and it looks like the puzzle is finally coming together. In addition, investors seem to be very optimistic about PLNI, including myself. It's only a matter of time now.
posted
it probably is time for plni to have a turn around,its managements ability to undermine the stock price after a run up that concerns me. i have a small position but will not hold for long
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quote:Originally posted by TRM: it probably is time for plni to have a turn around,its managements ability to undermine the stock price after a run up that concerns me. i have a small position but will not hold for long
quote:Originally posted by TRM: I don't bash just to bash, they deserve it, and should be given some kind of penalty along with the rest of these co. that give out false information, to separate investors from their money.
The penalty has already been dealt PLNI by the market makers and investors.
When PLNI traded for about $0.015, there was 3 billion shares outstanding. When PLNI increased the outstanding shares double, to about 6 billion, the market makers and investors took the stock down in half, and rightfully so, the stock held steady at about $0.006 - $0.007 for a few months.
In April 2006, PLNI increased the outstanding shares double again to 13.5 billion, the market makers and investors took the stock down by half again to $0.003 - $0.004.
Each time PLNI has increased the outstanding shares by double, the stock has fallen in half, as it should.
One legitimate reason this could be happening, and this is just speculation and is probably not the case, but one reason is that "head hunter" companies like Third Point come in and start buying up shares in companies where there is lots of investor dis-satisfaction but that have good future potential. The idea is that once they acquire a certain percentage of the outstanding shares (many times it's 51%), they then mandate their own agenda, such as election to the company board, filings in a timely manner, and sometimes, they force proxy votes by shareholders to overthrow some of the management.
In order to fight off this "hostile takeover", a company can increase their outstanding shares by double, thereby forcing such a "head hunter" company's existing shares to fall below the required amount for a hostile takeover. Unfortunately it not only decreases the head hunter's percentage of outstanding shares under what the Articles of Incorporation state as a controlling amount, but it decreases everyone elses shares a long with it.
If this is the case with PLNI, then it's a good move because I like management and think they've done a good job, not great, but good job in bringing the company to where it is at today, and such a hostile takeover at this particular time in PLNI's growth cycle would be bad for shareholders.
Another reason could be that PLNI wants to continue to expand, and use share issuance as a means of payment. Remember, if you can convince a bank or company in the viability of your company and the future vision, those outstanding shares are as good as cash/gold. Some even prefer share issuances to cash for tax reporting purposes and future growth potential.
Again, I'm not saying either of these scenarios are the case. We just don't know the reasons yet for this continued share dilution by PLNI. And keep in mind, when they dilute all our shares with increases in the number of outstanding shares, they are also diluting the shares they hold, the insiders hold, as well.
I don't like the constant increases in outstanding shares anymore than my buddies here in this forum who are shareholders. But remember, this is THE ONLY negative PLNI has at the moment. Is it defendable? Perhaps not. Have I gone outside on more than one occasion for a smoke and cursed PLNI under my breath, you bet. Most of us long term shareholders have.
But put in proper perspective with all the positives PLNI has going for it, and everyone who is supporting PLNI is absolutely correct. At one point, PLNI had half a dozen negatives such as no financial numbers being released, no audit, no news on whether an uplisting was going to occur, rumor of another share split, etc... Over the last year, each negative has been eliminated. The only negative remaining is the outstanding shares.
Now does management want to address this issue? You bet. They eventually want to be listed on the AMEX. Because of the share price and the number of outstanding shares, the AMEX board would tell PLNI no, you do not meet the minimum requirements for a listing on our exchange. In fact, in their current state, no major exchange in the world will list PLNI. In otherwords, the thing standing between PLNI's insiders making big money by their shares increasing in value, is the same thing standing in our way as investors, the number of outstanding shares.
In otherwords, PLNI wants their shares to increase in value just like we do. Therefore, they plan to address this issue via the mechanism of a share buyback and retirement.
The thing that will enable them to start the share buyback program is the money to buy the shares back. Without any money, it's not going to happen. With Q1 2006 numbers, we see the money is only now starting to roll in, and roll in, in massive amounts.
Their balance sheet shows an increase in accounts receivable of 800% using only the first quarter of 2006 compared to all of 2005! Do you realize how awesome that is?
Total revenues for Q1 2005 was $82,370. Do you know what total revenues were for Q1 2006? If you don't, you should. Q1 2006 revenues were $1.8 million! An increase of 2,222%!!!
Now I ask you again, will the company be able to iniate a share buyback and retirement program as soon as they pay down some debt from the Semco and Promold acquisitions? You bet! In otherwords money makes the world go around. Money makes everything possible and fixes all financial problems, and outstanding shares problems, and debt problems, and hiring a top notch auditing firm to complete the audit, and hiring lawyers to certify to the tradeability of their stock, etc...
So just relax. Just keep your fingers crossed that nothing goes wrong with plant equipment at ProMold, that nothing goes wrong with the BlueLinx contract, or the quality of plastic re-bar supports they are producing. As long as things continue at PLNI like they have in Q1 2006, the only problem remaining which is the number of outstanding shares, will be taken care of with the incredible amount of money pouring into PLNI's bank account.
Remember, this is a long term hold, set it and forget it. Get excited about it, have to talk about it with other like minded investors? Great. But don't forget, long term investment here with an exit price of $1.00 or greater within the next 5 years.
And don't sweat the weird people who can't read financial statements, who like to bash stocks that others like for attention. So what. You'll be laughing all the way to the bank in a couple of years when PLNI stock blasts off as management executes on their business vision as they are right now. Don't try and convince people to buy it. Why do them a favor? These same weird people who bash the stock and call long term investors in PLNI stupid and other names, why would you want to help someone who insults you become a millionaire? Forget them. Trust me, when you become wealthy from PLNI and they are still poor and miserable, bashing other stocks in a few years and completely forgetting about their bashing PLNI, you'll have the satisfaction of knowing you made it through the rain. Think about these lyrics: I made it through the rain, I kept my world protected, I made it through the rain, I kept my point of view, I made it through the rain, And got myself respected, By the others who got rained on to, And made it through.
posted
Thanks for the lengthly post Lance. Great insight into the possible hypothetical variables for the reasoning of dilution. We may never know the real reason, but goes to show strategy could be a reason. Hopefully the dilution in this case is strategic.
Tick...what the??? Is all that about??? I presume that is intended for someone who knows exactly what it all means?? Just wondering, I'm a curious cat.
Ball
-------------------- "It's a head game...climbing a mountain that is, 20% physical:80% mental."
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quote:Originally posted by ballyman: Me gash, I swears there was a post there by Tick. HMMMM??? Now my wheels are really spinnin. My curiosity's gonna kill me.
posted
Watch this come right back up into the $0.003's, volume is relatively low at the moment, but people are gonna recognize these discount prices and load up.
PLNI is officially on sale folks, load up before the massive rally!
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