From allstocks--It is the best time to buy PLNI in the last 2 years. Comments from Purl lack depth analysis of both the Industry and PLNI itself.
I've done some good analysis on PLNI at traderflash.com if investors here in PLNI would like to check it out: traderflash.com
As far as the TDAmeritrade fiasco, I've spoken with both TDAmeritrade brokers, as well as Plasticon's Investor Relations Department and lets just say that TDAmeritrade is on the loosing side. TDAmeritrade did mail out letters on April 23rd 2006 stating to clients they had to go to certificate form, or transfer to another brokerage. If Rodney in Plasticon's Investor Relations is not too busy, he'll fax you a copy to read for yourself. In any event, TDAmeritrade is now stating that they never made that statement or wrote that letter, that only a trading restriction is being imposed. So we have TDAmeritrade back tracking a little.
Rodney with PLNI's investor relations, faxed TDAmeritrade a letter shortly after April 23rd, 2006, to ask why this letter was issued to shareholders of PLNI. TDAmeritrade refused to respond. Rodney did the inquiry letter on PLNI company letter head and all so that TDAmeritrade knew that Rodney was an authorized representative of PLNI. TDAmeritrade simply snubbed their nose to PLNI. Therefore, PLNI went public with the post last week notifying TDAmeritrade investors of the deadline per the letter issued by TDAmeritrade on April 23rd. TDAmeritrade is currently calling the PR a "false PR".
Pinksheets removed the PLNI quotation from their website only (not anywhere near a de-listing) on January 31, 2006. Since then, PLNI has made many financial disclosures, in addition to working with a Pinksheets.com approved lawyer and subsequent statement from that lawyer testifying to the "tradeability" of PLNI. I expect Pinksheets to remove the statement from PLNI soon and to provide quotation services over their website in short order.
When Pinksheets does remove this statement, TDAmeritrade will most likely lift the trade restriction. Unfortunately for TDAmeritrade, the damage will already be done as I know of at least a dozen traders who have put through transfer requests out of TDAmeritrade and to ScottTrade after the PR from PLNI last week.
American's love their freedom, which includes the freedom to loose everything, just like in any other stock. Having a Big Trading Firm step in and limit their freedom by saying you can sell your existing shares but you can't buy more is an incredibly bad move by TDAmeritrade. As if that action is warranted simply from the warning Pinksheets has put on their website (if you speak with a broker at TDAmeritrade, they will read to you the paragraph on pinksheets.com to justify the trading restriction).
What you may want to consider is filing a complaint with the NASD against TDAmeritrade here: nasd.com er/index.htm
Many newbie investors do not know about the NASD and their regulatory powers over all brokerage firms in the U.S.
This action is of particular importance if you feel that TDAmeritrade has unlawful relations with a Market Maker in PLNI that is engaged in shorting/naked shorting the stock, and such action by TDAmeritrade in allowing sells but not buy orders is meant to help that Market Maker make big profits on his short. You have the option to file a complaint "anonymously" as well.
Again, you can find my research analysis on PLNI at TraderFlash.com if you'd like to check it out. Exciting times, gentlemen, for investors in PLNI. |
