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Microcap & Penny Stocks : PLNI - Game Over
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To: donpat who wrote (2149)1/27/2006 12:25:21 PM
From: scion  Read Replies (3) of 12518
 
I don't think that's what happened.

Trimac beat them out, on that buyout

USPL was in the hands of the US Trustee in bankruptcy long before the PLNI Business Plan 2005 -2008 said this -

4) Plasticon will sign a letter of intent to acquire US Plastic Lumber www. usplasticlumber.com/

This transaction has been agreed upon in principal(sic), a letter of intent will be signed this month.

I put that right there with this "deal" that never happened because there was no operating company named Xylox:

10/12/2004 10:37:42 AM

LEXINGTON, Ky., Oct 12, 2004 (PRIMEZONE via COMTEX) -- Mr. James Turek, President of Plasticon International, Inc. (Pink Sheets:PLNI), is pleased to announce that the Company has signed a letter of intent to acquire XYLOX of North America, Inc. XYLOX develops thermoplastic elastomers from crumb rubber and scrap plastic

If you read the Plastic News article you would have found this:

USPL told the court it had exhausted all available financing options before asking the court on Dec. 20 for an emergency order to sell the business. While it was in bankruptcy, USPL was trying to line up funds to reorganize and to buy the land on which its Chicago plant is located.

Did PLNI talk to the US Trustee in Bankruptcy handling USPL?

Why don't you ask for yourself?
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