I encourage those willing to carefully examine the last annual report of TelcoBlue. The similarities to what brought PLNI crashing down to a revoked status are all present in TelcoBlue. Look at the loans, the promissory notes, the movement of stock and so forth. Take notice of a worthless company bought by TelcoBlue, Show Me Ink, for $450,000. Show Me Ink was owned by Turek in another shell.
James Turek's blueprint is identical each time he fails by design. He promotes a concept, brings excitement on this proposed concept, usually couples it with a potential acquisition then:
He systematically fails to deliver financials.
He issues stock to friends and family at will keeping himself one step away.
He blames his problems on a collective organized effort of those close to him to topple his regime.
He eventually bleeds the company of equity raised cash and then bankrupts the company.
The original business proposition never gets off the ground due to a broken agreement or contract dispute.
Big Apple is always involved in "consulting and public relations".
He pays himself exhorbitant salaries. He paid himself $750,000 in a failing company. All funded by the stockholders.
If history repeats correctly, we will possibly see a Turek personal bankruptcy just like the days of Wicklund. It is a pattern.
Examine TelcoBlue closely. Any one who invests in this Turek company is asking for exactly what the shareholders at PLNI got.
Turek is irresponsible as his actions and fidiciary incompetence has proven and has no business being in charge of a convenient store. The proof is clear with PLNI and Pro Mold being wrenched away from him and a trustee being appointed to guide the company to its final resting place. TelcoBlue will happen the same way. Turek knows no other way. TelcoBlue at the end of 2004 is already showing the same signs of being a trainwreck that PLNI became. All by design in my opinion. This is of the least importance. I believe the word is out that his companies are pariahs. This latest round of press releases is laughable. Most important for investors who finally hope there is justice in the pinksheets please see below.
The word is this time he pushed his luck too far and his blueprint is exposed. I was told there is an active investigation (SEC, DOJ, FBI) to his activities. I am told that there is at least one very large PLNI shareholder that is near to turning over all documentation, notes, recorded conversations and other evidentiary items over being scorched by Turek. In my opinion this will expedite any indictment. Could Turek's sons could be included as accomplices? Court documents show their signature in many stock related items. I further understand private investigators are going to speak with Bill Howe and are looking for Edward Gartska, the former CFO of TelcoBlue. I think James Turek finally screwed the wrong people. All of this is in my opinion and any one should investigate the above on their own.
This is just a matter of time. More to come. |
