The following sent to Greenfish on RB
Hey Greenfish..
By: greenfish94940
19 May 2006, 07:40 AM EDT
Msg. 59299 of 59512
(This msg. is a reply to 59294 by rrm_b4u.)
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RRM,
That is a good book that you mentioned. I just wish Greenbay would read it. Maybe he wouldn't make outlandish remarks and personal attacks.
Regarding your rebuttal:
I will post in the next few hours.
GF, the real
I haven't seen your response... did I miss it? No matter... look what I found!!
In this message your former co-worker said
ragingbull.lycos.com
1) James Turek, SR was paid:
$300,000 plus $100,000 in bonuses for 2002.
$325,000 plus $250,000 in bonuses for 2003.
$350,000 plus $350,000 in bonuses for 2004.
The company had no revenue for the fiscal years of 2002-2004. $700,000 in bonuses paid to the CEO of PLNI for no growth and no increase in assets.
But I just couldn't reconcile that with the court filings for his personal bankruptcy. How could he have been "paid" all that without declairing it to the BK court? Well guess what... the 211 form actually resolved that issue as well. At least for the 2003-2004 time frame, and if we had 2002 I suspect that would have been covered too.
Seems James Turek, SR was paid little or nothing instead of the amount your friend said he was paid!
Go here and read the first paragraph of item 7 on page 27
otcstockinfo.com
On December 31, 2005, the James N. Turek, Sr., majority shareholder forgave approximately $6,000,000 of obligations consisting of notes payable, accrued interest, and accrued salaries and bonuses. The Company removed the obligations and increased paid in capital by the respective amount.
That explains why he declared the income that he declared on the monthly BK updates. He worked for PLNI either for nothing, or for a really small salary for a CEO of any company. Who knows, his declared salary might have come from one of his other companies and he worked for PLNI for nothing!
Seems your co-worker didn't read the available information at all... or only in passing.
I haven't seen your response... did I miss it?
ragingbull.lycos.com
rrm |
