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Gold/Mining/Energy : PLRN - OIL!!!
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To: Alan Whirlwind who wrote (464)1/1/1998 6:22:00 AM
From: FARRIS  Read Replies (1) of 476
 
Alan,
I am still holding a lot of this stock -- so I too am glad when it climbs.
HOWEVER, these guys are snakes. There are now 6,250,000 unrestricted shares outstanding and 50 million authorized by charter. I do not know why none of the 6 million that was sent out to the benefactors of the private placement has hit the market -- but I have to assume that it will eventually. Once it does our puny shares are not worth a damn. They paid, I was told, .10 for a share and .33 for a warrant that can be exercised TODAY. Either this company has something that is sooooo damn good these guys will not sell or they just have not got around to it yet. I have never heard of a private placement not killing a stock, but there is always a firrst time. I have some black and white coming soon -- in the mail they say. I will share once it arives. I am still going to try to go and see the operation in China later this year -- if they will let me.
Good luck to all,
Eric
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