It's fun to look back at past PRs, especially when you have proof of an outright bald-faced lie to the point I'd argue it borders on criminal. Specifically, according to Green Baron:
11/3/2005: ...The Company has stated to us that the total issued and outstanding for Plasticon has never surpassed two billion shares. Apparently, Plasticon increased its authorized share count recently to five billion shares, but Jim Turek and Bill Howe have assured us it has not issued any of these new shares to date and may never do so.
Yet according to the 5/26/06 Interim Financial Report:
5/26/2006: Common stock; $0.001 par value; 3,000,000,000 shares authorized 3,727,740,100 shares issued and outstanding as of December 31, 2005
Last I checked 3,727,740,100 was more than 2,000,000,000. But it gets worse:
During the year ended December 31, 2005, the Company issued 2,277,253,729 shares of new common stock to the majority shareholder...
So not only did PLNI issue more than 2,000,000,000, it issued more than the entire o/s to Turek alone! That's worse than a 1-2 reverse split!
In case anyone is wondering, PLNI did elsewhere come clean about when they increased the authorized:
...October 10, 2005, the Company increased its authorized shares of common stock from 3,000,000 shares with a par value of .05 to 5,000,000,000 million shares with a par value of .001.
otcstockinfo.com
- Jeff |
