SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : PLNI - Game Over

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: Jeffrey S. Mitchell8/22/2007 10:37:44 PM
  Read Replies (1) of 12518
 
Posted by: DTL
In reply to: None Date: 8/21/2007 8:49:30 AM
Post #31587 of 31601

9. Even more alarming is the fact that these unauthorized transfers appear to be accelerating, threatening Debtor Pro Mold's survival.

Regardless of the twisting of my words or what transfers are approved or unapproved. Regardless of those who need to pick apart every word or the fact that maybe I don't always make myself clear. The above statement in bold "alleges" the debtor is continually making unathorized transfers. What I do want to see is proof as to why these transfers are specifically "unauthorized" and how they are "threatening Debtor Promolds survival". Again it does not make sense that company fighting to keep an acquisition through a reorg would purposely jeopardize that attempt.


siliconinvestor.com

=====

I presume DTL has seen the various Pro-Mold creditors lists. These are people that Pro-Mold owes money to but does not have the money to pay. They also have to pay their employees. When companies can't pay their bills, it normally threatens their survival.

Meanwhile, Turek has been sending money from Pro-Mold to Plasticon. Money that the US Trustee is saying should have been used to pay bills. "Unauthorized" is being kind. The US Trustee is alleging criminal fraud.

Turek has a documented history of sucking the life out of his acquisitions for personal gain (e.g. Laser Engineering and Florida Curbing). Lest there be any confusion, diverting funds to one's personal account that could otherwise be used to pay past-due bills is one way to "suck the life out of" a company. Any wonder why Turek would not give up his cash-cow without a fight?

- Jeff

P.S. I can't believe I actually wasted ten minutes stating something 95% of those reading this thread figured out in two seconds via common sense let alone reading the filings. Feeling generous I guess.

P.P.S. Why are RRM and Donpat banned from this thread?
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext