Plasticon International Inc. Fights Back!
Plasticon to Launch Aggressive Campaign Against Shorters and Market Manipulators
LEXINGTON, KY -- (MARKET WIRE) -- October 23, 2006 -- Plasticon International Inc. (PINKSHEETS: PLNI) announced today that it will be launching an aggressive campaign against shorters and market manipulators in an effort for PLNI shareholders to realize the true value from a company which has experienced sales growth in 2005 compared to 2004 sales levels, and continues to show dramatic improvement in 2006.
Plasticon International recently announced that based on current sales rates in 2006 their wholly owned subsidiary Pro Mold is poised to achieve an additional 15% growth in sales revenues.
In a letter to the shareholders www.plasticonintl.com, Jim Turek announced today that it has ordered a current NOBO list from ADP Investor Communications. The NOBO, which stands for Non Objecting Beneficial Ownership list, shows a more complete corporate ownership profile than is available from the transfer agent alone through the DTC.
President and CEO James Turek stated, "We have periodically ordered the NOBO list and compared it with our transfer agents DTC list on several occasions in the last 24 months. Our management knew there was a significant failure to deliver position in our stock; however, until we were ready to execute our business plan to its fullest extent, publishing this list would have been of little consequence to the share price or benefit to our loyal shareholders. Our goal now is to identify and publish the continuous pattern established by brokers to short our stock with an ever-increasing size of failures to deliver. Upon the receipt of the current list and analysis by our SEC attorney, we will work closely with the SEC and all institutional holders to quickly resolve this failure issue."
Mr. Turek stated, "This is invaluable information for our shareholders and public to be aware of. Naked short selling (NSS) is literally an Economic Attack on our Financial Markets and small cap companies robbing millions of hard earned dollars from investors, and the ability for small cap companies to capitalize their operations and research in manner conducive to shareholder value. This practice distorts what would otherwise be a free market, in other words, a market where a share price value is dictated by supply and demand only, and not by the undue influence of naked shorters. Short selling manipulates the price and puts excessive downward pressure on the value of the stock. Short sellers buy back at a greatly reduced price taking millions of dollars in profit at the expense of the shareholders and the company. Because of the lack of brokerage guidance from the SEC, the shorting may continue as the PPS moves upward in a move to slow down the increase allowing the covering of short positions with legitimate shares. This continued short selling action may force Plasticon to continue to order updated NOBO lists to protect our long shareholders investment and the company from further attacks.
"We have all worked extremely hard to build a strong company. I will not allow short sellers and market manipulators to destroy the value we have created," stated Jim Turek, Plasticon CEO.
About Plasticon International Inc.
Plasticon International (www.plasticonintl.com) designs, produces, and distributes high-quality concrete accessories, transportation signage, and plastic lumber which are all produced from recycled and recyclable plastics. Plasticon is a leader, and an innovator of cutting-edge design, engineering, and production of industrial and commercial products. Plasticon is a green Company, environmentally friendly, using recycled plastics to produce its line of products.
THIS PRESS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS." FORWARD-LOOKING STATEMENTS ARE STATEMENTS CONCERNING PLANS, OBJECTIVES, GOALS, STRATEGIES, EXPECTATIONS, INTENTIONS, PROJECTIONS, DEVELOPMENTS, FUTURE EVENTS, OR PERFORMANCE, UNDERLYING (EXPRESSED OR IMPLIED) ASUMPTIONS AND OTHER STATEMENTS THAT ARE OTHER THAN HISTORICAL FACTS. IN SOME CASES FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THE USE OF FORWARD-LOOKING WORDS SUCH AS "BELIEVES," "EXPECTS," "MAY," "WILL," "SHOULD," OR "ANTICIPATES," OR THE NEGATIVE OF THESE WORDS OR OTHER VARIATIONS OF THESE WORDS OR COMPARABLE WORDS, OR BY DISCUSSIONS OF PLANS OR STRATEGY THAT INVOLVE RISKS AND UNCERTAINTIES. MANAGEMENT WISHES TO CAUTION THE READER THAT THESE FORWARD-LOOKING STATEMENTS, INCLUDING, BUT NOT LIMITED TO, STATEMENTS REGARDING THE COMPANY'S PLANS, PROJECTED GROWTH IN OUR SALES VOLUME, GOALS AND, THE BUSINESS STRATEGY OF THE COMPANY AND OTHER MATTERS THAT ARE NOT HISTORICAL FACTS ARE ONLY PREDICTIONS. NO ASSURANCES CAN BE GIVEN THAT SUCH PREDICTIONS WILL PROVE CORRECT OR THAT THE ANTICIPATED FUTURE RESULTS WILL BE ACHIEVED. ACTUAL EVENTS OR RESULTS MAY DIFFER MATERIALLY EITHER BECAUSE ONE OR MORE PREDICTIONS PROVE TO BE ERRONEOUS OR AS A RESULT OF OTHER RISKS FACING THE COMPANY. FORWARD-LOOKING STATEMENTS SHOULD BE READ IN LIGHT OF THE CAUTIONARY STATEMENTS AND RISKS THAT INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH A SMALL COMPANY, THE COMPARATIVELY LIMITED FINANCIAL RESOURCES OF THE COMPANY, THE INTENSE COMPETITION THE COMPANY FACES FROM OTHER ESTABLISHED COMPETITORS, TECHNOLOGICAL CHANGES THAT MAY LIMIT THE ABILITY OF THE COMPANY TO MARKET AND SELL ITS PRODUCTS AND SERVICES OR ADVERSELY IMPACT THE PRICING OF THESE PRODUCTS AND SERVICES. ANY ONE OR MORE OF THESE OR OTHER RISKS COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE FUTURE RESULTS INDICATED, EXPRESSED, OR IMPLIED IN SUCH FORWARD-LOOKING STATEMENTS. WE UNDERTAKE NO OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENT TO REFLECT EVENTS, CIRCUMSTANCES, OR NEW INFORMATION AFTER THE DATE OF THIS PRESS RELEASE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED OR OTHER SUBSEQUENT EVENTS.
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Plasticon International, Inc.:
James N. Turek Sr.
President and CEO
3288 Eagle View Lane Suite 290
Lexington, Kentucky 40509
web site: www.plasticonintl.com
Contact Investor Relations:
Andrea Cox
Ph: 866 843 2775
SOURCE: Plasticon International Inc.
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