Whatever happened to all those NOBO lists?
We have periodically ordered the NOBO list and compared it with our transfer agents DTC list on several occasions in the last 24 months.
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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.
Dear Shareholder:
I am pleased to inform you that Plasticon International Inc. is stronger than ever. We have completed both the Semco and Pro Mold Acquisitions. We have completed the 2004 and 2005 Audits and we are now in process of getting current and filing our application with the NASD to up list to the Bulletin Board. Plasticon has experienced tremendous growth over the past two years and I’m proud of the sacrifices we have made to achieve our success.
Despite our efforts, Plasticon is under attack from short sellers and market manipulators who want to take advantage of our market liquidity for their own personal profit to the detriment of our loyal shareholders. Plasticon is now taking the necessary steps to combat this attack, and 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.
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.
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 share holder 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.
Until the SEC enacts strict legislation to curtail such practices in the United States, it will be up to the various companies to police the markets with tools available as in the NOBO list.
Plasticon has now begun reporting, completed our acquisitions, increased productivity and have solid management in place. We at Plasticon will do whatever it takes to stop this attack and restore shareholder value and confidence in our company.
Shareholders can help. If you suspect that brokerage firm is shorting against your position, please request physical delivery of your stock certificate. Plasticon International would like to thank-you for your continued support.
Regards,
James N. Turek Sr.
President and CEO
Plasticon International, Inc.
plasticonintl.com
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