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

To: shortsinthesand who wrote (1855)	1/20/2006 10:31:04 AM
From: scion	Read Replies (1) \| Respond to of 12518

You may be right. However it's unlikely that he'll be able to sustain it with the fluff news releases being negated by the complete lack of SEC filings. I think the SEC is getting more and more complaints about PLNI every day. he seems to be the head of the group of misleaders manipulating up to 150 million shares in short term trade swings and day trades. The forfeiture provisions mandate that if misconduct (by whom is unclear) results in material non-compliance with SEC financial reporting, and as a result of this non-compliance a public company is required to restate its financials, the CEO and CFO must disgorge all performance-based compensation and all profits realized from the sale of the issuer’s securities during the 12 months following the first public issuance of the document containing the non-compliant report. Although the application of this new law is not yet clear, it is reasonable to expect that the acquiring company’s CEO and CFO will not wish to expose themselves to potentially significant personal liability based on target misconduct that affects the combined financial statements. This new emphasis on financial statement diligence is reinforced by SOX’s certification requirements, which are designed to force senior management to obtain sufficient information to form a basis for the certification. In those situations in which the acquiring company is unable to get comfortable with the financial condition of the target to the extent necessary to allow the CEO and CFO to include these results in their certifications, consideration should be given to a pre-closing closing audit to provide the necessary comfort. realcorporatelawyer.com