Plasticon Top Ten
At various time and message boards the puke patrol said the following about PLNI over the last 14 months...
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 return to Pinksheets quotes because it was a scam.
8. PLNI would never submit an audited financial statement.
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 FALSE STATEMENT. 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. Recent financials indicate ~$1.8M in revenue from sales in Q1 2006.
otcstockinfo.com
2. PLNI held no patents for concrete accessories.
A PROVEN FALSE STATEMENT. Patent # 4942714 has a duration of 17 years, was issued July 24, 1990 and is assigned to Promotional Containers Inc. The assignment is currently valued at ~$12M. The PCI, inc patent was purchased by PLNI in January 2005 as stated on page 20 of the Form 15c-211 submission of Apr 24 2006. Patent # D500,243 has a duration of 14 years, was issued December 28, 2004 and is assigned by Jim Turek Sr, President and CEO of Plasticon International, Inc., to 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
assignments.uspto.gov
patft.uspto.gov
assignments.uspto.gov
3. PLNI had no contracts with BlueLinx.
A PROVEN FALSE STATEMENT. BlueLinx has validated recent high volume sales of PLNI products to multiple posters on RB, Si, and iHub. Published financials confirm 2006 sales of ~$1.8M via the BlueLinx network during the first quarter of 2006. POC Eastern Sales Center: Mike Thornton 800-839-2588
otcstockinfo.com
4. The ProMold acquisition was false and never occurred.
A PROVEN FALSE STATEMENT. The sale was identified on page 14 in the 2004 10-KSB audited financials. The company has submitted an 8-K of the sale to EDGAR. sec.gov
sec.gov
5. The SEMCO acquisition was false and never occurred.
A PROVEN FALSE STATEMENT. 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 FALSE STATEMENT. 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 return to Pinksheets quotes because it was a scam.
A PROVEN FALSE STATEMENT. Pinksheets has returned Level-II quotes after full compliance with stringent reporting criteria.
otcstockinfo.com
8. PLNI would never submit an audited financial statement.
A PROVEN FALSE STATEMENT. Audited finacials were submitted for 2003-2004 on May 4th, and the 2005 10-KSB on 08 September 2006.
sec.gov
biz.yahoo.com
9. PLNI would never uplist to the OTC BB.
APPARENTLY ANOTHER FALSE STATEMENT. The submission of SOX compliant audits has cleared 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 FALSE STATEMENT. 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. In a recent CFN Network interview the company stated again that the Share restructuring program should be announced in Sep 2006.
biz.yahoo.com
Given the above record .... It appears they intentionally mislead investors about a lot!
I choose to believe PLNI rather than them if that's OK..
All the above is just my opinion of course.
rrm |
