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Microcap & Penny Stocks : PLNI - Game Over
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From: Captain James T. Kirk6/30/2006 4:20:18 PM
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Diluted shares now 12.5 Billion?
Followed a link the the worms site:
During the last two years PLNI has quickly issued common shares in order to reach its authorized share limit: from 2.0 billion to 3.0 billion to 5.0 billion to 13.5 billion (according to the latest figures included in the documents filed by PLNI with pinksheets.com, the fully diluted common shares outstanding as of June 16, 2006 are now 12.3 billion).

According to the same document mentioned in paragraph #1 above, the 1.0 million PLNI Preferred Shares oustanding can be converted into 7.3 billion PLNI common shares, a 1 to 7,300 conversion ratio.

So am I correct to assume that he took 5 Billion common and added the 1 Billion issued preferred(= 7.3 Billion common)This would equate to 12.3 Billion common shares currently.
6 Billion AS preferred = 43.8 Billion common + 13.5 billion AS common = 57.1 Billion potential common shares as it stands today.
Wow!
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