Tuesday, June 21, 2005
Re-Pick Update
Plasticon Intl. (PK: PLNI)
Urgent PR Just Released at about 10:00 am EST:
PLASTICON ANNOUNCES: NO REVERSE STOCK SPLIT
Based on potential sales and earnings, Plasticon expects number of shares issued and outstanding will be in line with projected growth, therefore eliminating the need for reverse split
The Green Baron Report was happy to learn today that May Focus Stock Plasticon does not have any plans to reverse split the stock. This is welcome news and removes any doubt we had that the stock should continue to rise rapidly. Over the weekend, we stated, “Thus far, our understanding is that a reverse split would not occur, if at all, until after the stock retains a Bulletin Board listing and likely at much higher prices.” We are hopeful that our commentary quelled the fear of dumping based on mindless rumors and fear.
The added commentary from CEO Jim Turek should send PLNI to new highs since our profile last month. He understands and supports the need for a reduction in shares outstanding, and is one of the few CEOs in the world that is actually willing to retire his own personal shares for the good of the overall company and its shareholders. He also is interested in share buybacks as well, which would be a great idea since sales and earnings appear to be on the brink of an explosion.
Lexington, Kentucky, June 17, 2005 -- Plasticon International Inc. (Pink Sheets - PLNI) today announced that there are no plans for a reverse stock split based on projected sales and earnings.
“A reverse stock split is absolutely off the table,” said Jim Turek, President and CEO of Plasticon International, Inc. Mr. Turek added that should it be necessary to reduce the number of issued and outstanding shares, management is committed to both retiring its own personal shares and the company is committed to buying back shares as well.
“Our sales and earnings potential is the key driver for our company, and we expect an adequate number of shares as we move forward,” Mr. Turek said. “The market potential for our three main product lines – rebar supports, transportation signage, and plastic lumber – is so enormous that a reverse stock split is not required. Rebar supports is a $25 billion per year industry. Transportation signage is a $20 billion industry in the U.S. alone. And plastic lumber sales, which have been rising at a rate of 40% per year, are increasingly gaining market share. We are strategically positioned to become the dominant force and to profit from our product innovations as recycled plastic continues to gain acceptance as the industry standard material for these applications. Increased government regulation, the skyrocketing price of steel, and Plasticon’s cost-effective, superior products all combine to position Plasticon for continued profitability.”
Plasticon International recently announced that as of the second quarter of 2005, the company is profitable. “This is really a thrilling time for us because the world is catching up to our vision. The assumption now is that companies should be environmentally-friendly. We’ve proven that not only is it the right thing to do, it’s the profitable thing to do. We look forward to continuing to provide value to our customers, the public and our shareholders.”
Mr. Turek emphasized that after years of laying the foundation of the company, through research and development, product innovations, patent approvals, and applying for and receiving DOT acceptance in all 50 states, Plasticon is now reaping the fruits of its labor. “I believe that the most important trait in business is persistence. With the help of our dedicated, distinguished management team, we built a great base and now we are ready to move into the next phase, which is our aggressive sales and marketing rollout. We are just beginning to see the impact of our exclusive contract with the largest building materials distribution company in the U.S. That contract now makes us the largest supplier of rebar supports in the country. We are also ramping up our global sales and marketing efforts and we certainly expect exponential growth with our major product lines in the near future.”
For more information, please visit Plasticon International online at www.plasticonintl.com.
About Plasticon International, Inc.
Plasticon International (www.plasticonintl.com) designs, produces, and distributes high-quality concrete accessories, transportation signage, plastic lumber, and office supplies which are all produced from recycled and recyclable plastics. Plasticon is a leader, an innovator of cutting edge design, engineering, and production of industrial and commercial products. Plasticon is a green Company, environmentally-friendly, using recycled plastics to produce its line of products.
Plasticon International, Inc.:
Jim Turek, President and CEO
3166 Custer Drive, Suite 101
Lexington, Kentucky 40517
web site: www.plasticonintl.com
Contact Investor Relations:
Bill Howe
Ph: 800-889-0915
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934, and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, management and maintaining growth, the effect of adverse publicity; litigation, compensation, and other factors which may be identified from time to time in the Company’s public announcements.
CMKM Diamonds, Inc.
We just wanted to remind owners of CMKX that a lot of current information regarding the SEC case against CMKM Diamonds can be found at www.cmkxownersgroup.com. More specifically, the OG reply document just released Sunday night can now be viewed at cmkxownersgroup.com. Attorney Bill Frizzell has made a very compelling case to allow CMKX the additional time to file its financial documents to become fully reporting and compliant, and seems to have proven without a doubt that a huge naked short position exists in CMKX.
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