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Microcap & Penny Stocks : PLNI - Game Over -- Ignore unavailable to you. Want to Upgrade?

To: donpat who wrote (1451)	12/29/2005 3:17:06 PM
From: scion	Read Replies (1) \| Respond to of 12518

Nope, I'm not hung up on bankruptcy - that's strictly Turek's problem. I'm just interested in knowing where that $450,000 came from mentioned in the SEC filing extract below. Where did James N. Turek get the money to pay $450,000? Did he get a bank loan, or bank loans, and if so what did he use as collateral? On December 10, 2003, the Company purchased the assets of Show Me Ink, LLC, an entity owned by the Company's Chief Executive Officer and majority stockholder in exchange for $450,000, which was contributed by the Chief Executive Officer to the Company. In addition, the Company forgave debt owed by Show Me Ink, LLC totaling $1,588,521. secinfo.com SHOW ME INK, LLC Business Entity Information Status: Dissolved on 3/8/2005 File Date: 3/12/2003 Type: NRS86 - Domestic Limited-Liability Company Corp Number: LLC3542-2003 Qualifying State: NV List of Officers Due: 3/31/2005 Managed By: Members Expiration Date: 3/12/2503 Foreign Name: On Admin Hold: False Financial Information No Par Share Count: 0 Capital Amount: $ 0 No stock records found for this company Officers Include Inactive Officers Member - JAMES N TUREK Address 1: 1155 W 4TH ST STE 214 Address 2: City: RENO State: NV Zip: 89503 Country: Status: Active Email: Actions\Amendments Action Type: Dissolution Document Number: 00000053092-19 # of Pages: 1 File Date: 03/08/2005 Effective Date: (No Notes for this action) Action Type: Annual List Document Number: LLC3542-2003-002 # of Pages: 1 File Date: 02/11/2004 Effective Date: List of Officers for 2004 to 2005 Action Type: Articles of Organization Document Number: LLC3542-2003-001 # of Pages: 2 File Date: 03/12/2003 Effective Date:

To: donpat who wrote (1451)	12/29/2005 9:57:28 PM
From: Jeffrey S. Mitchell	Read Replies (1) \| Respond to of 12518

Anyway, I wish him luck and no more bankruptcies. It's an occupation for some, I suppose. Bingo! Think of these folks as black widows. They woo you, flatter you, and, most effective of all, blind you by putting $$$ in your eyes. Then, once they own you, they leverage your assets and suck out your money in an instant. Am I saying that's the case with PLNI? Tsk tsk. Of course not. That's for others to decide. All I can do is lay out for folks here what the Top 10 red flags are for identifying possible such schemes (in no particular order): 1. Has the same business "plan" been tried before (with obviously no success)? This could be hawking the same patents, medicine, device, software, etc. 2. Has the company hired any paid touts? Easily identified by a disclaimer that said person was paid in stock or cash by a third party for issuing the report. 3. Has the company had a history of failed acquisitions (double red flag if they were intended to be wholly owned subsidiaries)? Acquisitions of "real" companies makes for good press and often misdirects investors attention. Every company has a price so it's not hard to wave $$$ and at least get them to the table. Usually after doing their DD these targets run for the hills and you never hear about them again. 4. After an acquisition, does the company immediately open multiple (as opposed to one) lines of credit? Double red flag if the CEO or controlling shareholder buys a new house or car following such financing. 5. Has the company of its principals ever run other publicly traded companies that have either failed or, worse, declared bankruptcy? Double red flag if they've done this after an acquisition as this means they've taken down what was, by definition, a viable profitable company with them. 6. Has the company ever fired its auditor? Double red flag if more than once. Triple red flag if they announce an audit is near completion yet can't or won't name their auditor. The collapse of Arthur Andersen has made auditors skittish and the days of rubber stamping what companies give you is ancient history. 7. Does the CEO or any of the principles own at least one other company that he uses to "lend" money to the company in return for stock? Double red flag if the other company is publicly traded. Triple red flag if the loan is forgiven. 8. Does the company blame its problems on the evil bashers, manipulating MMs, or naked shorts? This is almost always an alibi why their own selling is making the share price decline. Double red flag if the stock is being hyped on multiple message boards by the same people. Triple red flag if any message boards have more than one thread or a "bulls only" thread. 9. Is the company threatening to sue any or all of the so-called bashers? Infinite red flags is they end up doing so. 10. Have any of the bashers ever been successful in aiding the SEC in shutting down a publicly traded company? Double red flag if multiple bashers have such notches in their belts. Triple red flag if any of these bashers have multiple notches in their belts. Infinite red flags if Janice Shell shows up. - Jeff