PLNI - Game Over Message Board

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Microcap & Penny Stocks : PLNI - Game Over

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To: shortsinthesand who wrote (4288)	5/14/2006 1:59:35 PM
From: Jeffrey S. Mitchell	Read Replies (3) of 12518

Pay attention as Paid Promoters begins the campaign to justify $72.5 million in stock paid for services and other expenses by PLNI in 2004 as per the 2004 10-K recently filed with the SEC by PLNI. There is no justification for this amount of stock to be paid for services and other expenses by a company with zero revenues and 2 employees in 2004. Yet the CEO was in the midst of declaring bankruptcy! What cracks me up is when someone writes: "(Duh) if this is really such a bad company, why hasn't the SEC shut it down (burp)?" But the topper is how people are gullible (stupid?) enough to think/believe massive selling equals massive shorting or that a large brokerage like Ameritrade would not allow a stock to be bought in order to help with its short position. Not sure if I've told this story here, but Gary Swancy (aka Ga Bard; may he rest in peace) coined the phrase "short and distort" to explain how I and a handful of my cyber friends -- who he was convinced were market makers -- drove the price of innocent companies like Orex Gold Mines (ORXX) down. To make a long story short, Gary did come around to his senses and just a few days ago the prime manipulator of ORXX, John Surgent, was sentenced to 14 years in prison for cheating investors out of $46M (see: Message 22447119 ). So ask yourself: what justification was there for a two-person company with no revenues to sell $73M worth of stock in 2004? Where is all that money? How much stock was sold in 2005? How much stock is being sold now? Where is that money being funneled? If you don't have answers, and, worse, stifle those attempting to get answers, are you not part of the problem? Is this really a problem you want to be part of? - Jeff

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