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Microcap & Penny Stocks : PLNI - Game Over
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From: TheStockHunter6/28/2007 4:22:45 PM
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New poster here but been involved with PLNI for several years. Some of you may remember me from AllStocks where I posted under StockHunter. I was an options MM and futures local earlier in my career and got a rather rude education into the sleazy under regulated world of pinks when I invested in PLNI after falling for Turek's hype. I'm amazed the stock is still trading and the game has lasted this long. Even when you have the goods, the SEC just doesn't have the resources to move quickly or effectively against these types of people until so many poor trusting souls contribute their hard earned dollars.

For all his faults as a business man, Turek does one thing very well -- sell stock by selling a story. I noticed he was still hyping PLNI with paid touts and press releases as recently as week ago. But there's nobody buying. Game over? Probably not, IMO. Yesterday the capital structure of Telco Blue (TBLU) was updated. TBLU is controlled by Turek and has been used in the past as a conduit of funds from PLNI to Mr. T. I haven't followed it closely, but the last time I looked it had 75 million shares, if memory serves. Today it has 200 million preferred and 300 million common. The volume also spiked up yesterday.

IMO, it would be wise for anyone with a vested interest in this situation to keep a close eye on TBLU for asset exchanges between Turek entities or the start of a new pump and dump.

BTW, thanks to all of you who have posted the PACER info and other well researched material. Given the lack of effective regulation, you are providing a service by filling the void.
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