Lance makes so many mistakes you have to wonder if it's intentional or whether he's really that stupid. I posit the latter.
To be specific:
1. Lance, you run a web site that promotes stocks. Where is your disclaimer? Serious problem here.
2. Approving and actually doing are two different things. So one, you intepreted the news story incorrectly. This is your mistake, and not a case of Mr. Turek lying as you put it.
Wrong. That's why the SEC adds the word "misleading" to the phrase "false and misleading."
3. ...The contract with BlueLinx was frozen due to faulty product produced by PLNI... This contract being frozen was devestating.
Sounds like the definition of a material event to me. Where was this disclosure? Gee, Lance, with friends like you, who needs bashers?
4. In PLNI's discussions with pinksheets owners, it was clear that PLNI needed to, at all costs, provide "adequate [financial] information", and in a hurry, or risk being delisted from the pinksheets entirely.
Bwahahahaha! I guess he means all the PLNI traders would be escorted by security off the pink sheets trading floor? From the Pink Sheets FAQ: 'Because securities are not "listed" on the Pink Sheets, it is not possible for an issuer to "delist" them. The only way to remove a company from the Pink Sheets is for all of the market makers to stop quoting it.' pinksheets.com
5. ...and pressing the auditor(s) to complete the information as quickly as possible which included picking up the pace regarding SOA compliance at PLNI
I assume you mean SOX? If you've been following along here (where the intelligent people post), you'd know that SOX compliance is not applicable to Pink Sheet stocks.
6. With the awesome revenue growth demonstrated in Q1 2006... Use that additional revenue to build up your cash a little.
Extra revenue? WTF? Does Lance understand a balance sheet also has expenses? No, I guess not.
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Poor Lance really needs to get a new profession. Oh, wait, I take that back. It appears that some people actually were fooled into thinking Lance knows what he's talking about. I guess that means they must have taken his advice on May 8th and doubled down on PLNI in the mid 40s. Ouch.
- Jeff |
