Hi folks,
Held off until I had more info. on this one. Symbol is ICCN.
Here's what I have so far.
(This is a little garbled as I haven't enough time to really edit it down)
The new company will be know as "Integrated Carbonics". (Was PLRN)
The current TA for PLRN (Alpha Tech, Salt Lake City, 801-278-1777) will not be kept
on. The new TA is located in Denver, but I do not yet have the name.
According to the current TA the total authorized shares is 50M, with 10M in
the public float, and 15M restricted. The remaining 25M are authorized but
unissued.
(A 100:1 reverse is now complete)
According to Gary Ashley, after the restructuring, (Now complete)
the current 50M shares authorized will be telescoped down to 500K shares
authorized. The current 10M shares in float will go to 100K shares float.
The current 15M shares restricted stock will go to 150K shares restricted
stock. The restricted stock is not tradeable without going through a
paperwork process to make them available. This is an SEC requirement, and
the TA would need to be notified, and formally effect the transfer, so we
have a solid verification (from the TA) that the float is indeed 10M going
to 100K.
TA indicates that there are 25.5M shares out.
15.5 of those are registered (can't be traded publicly (could be sold to a
friend privately, but would still be listed as registered)). He indicates
that for these registered shares to move into the public float there is a
process that would need to happen, and that the TA would have to be
involved. Bottom line is that the float is app. 10M. (Now 100,000, verfied)
I have heard that one strategy employed by companies is to loan out
"founders" stock to shorters (I don't know if this can be done with
registered stock or not). They gradually short it down, with the "founder"
buying it back. Then all at once the "founder" calls in the loans, the
shorters can't cover, and the stock skyrockets.
Someone was selling this one into the dirt prior to the reverse.
Gary confirms that the rollback is from 50M authorized to .5M authorized.
And that the float will roll-back from 10M to .1M shares. (Done)
According to Gary, Integrated Carbonics will have a new high-profile board,
a web site, and new brochures informing prospective investors about the
company. Integrated Carbonics will be developing a graphite mining
operation in China. This operation is already in existence, and Integrated
Carbonics will be a joint venture with the existing operation.
Talked to Bob Hogler (A new board member)
The mine in China currently produces graphite ore and refines it to 90%
purity. In this form it is worth $450 / ton. The joint venture will be to
build a refinery there to refine it to a higher level of purity which will
command $12000 / ton. The market for graphite is expanding rapidly since
graphite is now a high-tech material. The financial projections for next
year are 12-15M in revenue, and 5-8M in profit.
They will not be breaking ground on the new refinery until Aprilish.
The web site will be www.integratedcarbonics.com. Tried to get there today,
couldn't. I'll be calling tomorrow.
The packet should include significant detail about the Chinese site, and
what the company is doing. I really do believe that this company is for
real. Even if they only generate $1M in profit, the company
is worth $10M IMO, which translates to a share price of $20-$40.
I have orders in right now. The bid is showing .375, ask $4.50 -- obviously the MMs are trying to buy cheap shares using the confusion of the new symbol etc. -- no sales, some buys at 1 9/16 according to a broker. I did a little research on graphite and indeed, the real high-grade stuff can fetch the money ICCN says it can -- even more in some cases.
The mine has revenues without the change, but the real money comes from the further refinement.
Once the quote servers get straight, this stock is going to get noticed very quickly. The company is almost ready to send out some brochures and other materials about all of this. Web site by the end of this week -- they hope.
Always remember to do what is right for you when investing your money -- I do. Also remember that I am not Gary or Bob or Bozo the Clown, and I do not represent them, so if you have reservations keep your finger off the trigger, so to speak.
Eric |
