I've been accused by the "pinworms" of making false and misleading statements about PLNI...
Well lets see who really lied.....
The "pinworms" said...
1. PLNI made no products... it was a total scam shell company.
2. PLNI held no patents for concrete accessories.
3. PLNI had no contracts with BlueLinx.
4. The ProMold acquisition was false and never occurred.
5. The SEMCO acquisition was false and never occurred.
6. PLNI had no audit underway... there was no auditor.
7. PLNI would never submit an audited financial statement.
8. PLNI would never return to Pinksheets quotes because it was a scam.
9. PLNI would never uplist to the OTC BB.
10. PLNI's 200M share retirement and stock restructuring plan was a fraud.
Lets see the score....
1. PLNI made no products... it was a total scam shell company.
A PROVEN LIE. Products have clearly been produced by third party manufacturers (TPM) for sale. Photographs of the products have been taken. Recent lawsuits verified the creation of products that didn't meet quality specifications due to the TPM using resins of a quality that was not authorized. otcstockinfo.com
2. PLNI held no patents for concrete accessories.
A PROVEN LIE. Patent # 4942714 has a duration of 20 years, was issued July 24, 1990 and is held in the name of Turek Marketing International under James N. Turek Sr. President and CEO of Plasticon International, Inc. The assignment protects the patent, curently valued at ~$12M, from being lost in a hostile takeover. Patent # D500,243 has a duration of 14 years, was issued December 28, 2004 and is assigned to Jim Turek Sr, President and CEO of Plasticon International, Inc., Jim Turek Jr, and Brandon Turek. The assignment protects the patent, currently valued at ~$4M, from being lost in any hostile takeover. It replaces patent D324,643 which was abandoned in 2006. An assignment, grant, or conveyance of any patent or application for patent can be acknowledged before any notary public or officer authorized to administer oaths or perform notarial acts. The certificate of such acknowledgment constitutes prima facie evidence of the execution of the assignment, grant, or conveyance.
patft.uspto.gov
patft.uspto.gov
3. PLNI had no contracts with BlueLinx.
A PROVEN LIE. BlueLinx has validated recent high volume sales of PLNI products to multiple posters on RB, Si, and iHub. Soon to be published financials should confirm 2006 sales via the BlueLinx network. POC Eastern Sales Center: Mike Thornton 800-839-2588
4. The ProMold acquisition was false and never occurred.
A PROVEN LIE. The sale was identified on page 14 in the 2004 10-KSB audited financials. The company IR rep has said that an 8-K of the sale is pending submission to EDGAR. sec.gov
5. The SEMCO acquisition was false and never occurred.
A PROVEN LIE. The sale was identified on page 15 in the 2004 10-KSB audited financials. The company IR Rep has said that an 8-K of the sale is pending submission to EDGAR. sec.gov
6. PLNI had no audit underway... there was no auditor.
A PROVEN LIE. Mendoza Berger and Co, LLP mendozaberger.com certified the recently submitted audited financials on Page F-1 of the 2003-04 10-KSB. The prestigious company Dean, Dorton, and Ford deandortonford.com has assumed the financial accounting role for PLNI in anticipation of rapid growth.
7. PLNI would never submit an audited financial statement.
A PROVEN LIE. Audited finacials were submitted for 2003-2004 on May 4th, and additional audit data was indicated May 08, 2006 as being expected very shortly.
sec.gov
biz.yahoo.com
8. PLNI would never return to Pinksheets quotes because it was a scam.
APPARENTLY ANOTHER LIE. Tim Ryan of Pinksheets has indicated to multiple callers that all that remains before PLNI returns to Pinksheets L-II is the 2005 10-KSB and Form 15G.
9. PLNI would never uplist to the OTC BB.
APPARENTLY ANOTHER LIE. The submission of SOX compliant audits have commenced with the 03-04 10-KSB and should clear the way to allow PLNI to apply for uplisting in 2006. sec.gov
10. PLNI's 200M share retirement and stock restructuring plan was a fraud.
APPARENTLY ANOTHER LIE. Pinksheets data posted on their website indicated that the O/S moved from 2.0B to 1.8B before increasing to 2.3B. The 200M share retirement took place and had it not the OS would be 200M shares greater than todays number. On May 08, 2006 the company stated... "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."
biz.yahoo.com
Given the above record .... it appears the "pinworms" lied about everything!
I choose to believe PLNI rather than bashholes.
Would I have done things in the same manner as PLNI... probably not.
Are there financial questions to be answered... absolutely, and some are disturbing at face value.
Is PLNI a pinksheet scam shell stock without substance... clearly not IMO.
rrm
Disclosure: I have not been issued free shares of stock, been compensated monetarily, or been paid to promote or encourage participation in any stock by any company, person, or entity. All shares that I own of any stock have been purchased from my own personal funds. I have made no statements for which I had any insider knowledge or any knowledge of false or misleading content. All statements I make are based upon my personal opinion of information that I gleaned from public information, or derived from statements made by the company, its representatives, or independent research firms. Any chart technical analysis provided is my personal technical assessment of the indicated stock and should not form the sole basis of any buy or sell decision making by any reader. Any decision to buy or sell any stock should be made only after careful due diligence on the part of the investor, and not be based upon any third party information or investigative data. This posting service holds my personal IP address. This constitutes a complete and legally binding disclosure. |
