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

To: Jeffrey S. Mitchell who wrote (2125)	1/27/2006 8:24:37 AM
From: Jeffrey S. Mitchell	Read Replies (1) \| Respond to of 12518

Thanks to theWorm06 for alerting me to this excellent post by StockHunter: ===== StockHunter Member posted January 27, 2006 12:20 AM January 27, 2006 00:20 -------------------------------------------------------------------------------- quote: -------------------------------------------------------------------------------- Originally posted by Chopper: Ok Just got off the phone with the Horses mouth, so to speak. This is what was told me about the pending SEC approval for ProMold and Semco. Mr. Turek will file the audit activating the reporting of the company once again. Then two 8k's soon behind that. One 8k for each acquisition. This is HUGE in that Jim is going straight by the SEC playbook and reporting everything properly. That is the why Jim put pending SEC approval. Merely a paperwork formality filing the 8k's! Shortly after that we could see 10Q's and the 15c2-11 rule filing for uplisting. Hope this helps ease some concern. GLTA -------------------------------------------------------------------------------- The only thing “HUGE” about what you report is the red flags. I guess in a week of ridiculous advertisements packaged as press coverage, it should not be surprising that the “awaiting SEC approval” is BS. I called the SEC to see if there was any way a company could get approval for an acquisition without filing a public document. The answer is no. Has Plasticon filed any documents with the SEC. No! You cannot get approval if you don’t ask first. If I go to McDonalds and just stand there without ordering is it honest to say I’m “awaiting my hamburger”? If I understand the jest of your conversation, they are not filing anything regarding the acquisitions until they file an audit. They have been promising an audit ‘very soon’, ‘by the end of the month’ , ‘in several weeks’, etc… for 2 years now. They keep dangling the same wrinkled carrot in front of investors noses while they steadily pull it away. To say they are "awaiting SEC approval" without filing papers (and not until they file their audit) is like saying you’re awaiting your kid’s approval to Harvard when you haven’t even met your spouse yet. This has been the biggest week of red flags since I’ve followed this company. They had people believing there was a share buyback program coming early this year and the details would be announced before the end of January. At the same time they are issuing shares to penny stock touts to pump up the price. It does not make sense to dilute your stock and pump the price when you are trying to reduce shares by buying them. They are not reducing shares. They have been and are likely to continue to aggressively raise funds through issuance and sales of shares. The PRs have sunk to new lows. One touts the publication in which they bought an ad as if IBD was lending credibility to the content. The Semco contract PRs make no mention of the size of the contracts, but they do tell us how many floors are in the building with the Semco coated office lobby. Another claims they are getting more media “coverage” by listed the ads they paid for. They are spending more of our money and diluting more of our shares so that penny stock touts can pump up the price. Companies do this to sell shares and raise capital. They don’t issue shares to touts, pump up the price of their stock, and buy those same shares back at a higher price in a share reduction program. Though they would have us believe that is their design. There is no share reduction program because the number of shares are increasing. There wasn’t one in August when they first claimed to have one. They issued stock and issued a press release stating they ‘retired’ shares last year. What would be really enlightening is to hear the company's response to a question as to why they are gagging thier transfer agent, not just from us lowly investors, but also from pinksheets. No one who has the ear of the company principals has ever addressed their response to this question (assuming such an obvious question gets asked). As you know, they refuse every request, written or otherwise, to provide the share structure or their reasoning for the dilution. They either ignore written requests or respond to emails w/ a canned hotmail msg saying to call Big Apple. We've all done the run through that hamster wheel. Every time there is a Green Baron, or Stockstofollow.com or Wall Streetnewsalert.com tout, there are two costs to investors and one benefit to traders. The benefit to traders is in piggy backing the buying for a swing trade. The costs to investors is in the dilution - one from shares issued to these touts, and second from the reason they need to hawk their shares, which is more dilution. For anyone new to this stock, perhaps attracted by one of the touts, you would be well served to skim this entire thread for the history. With the stock much higher, the company was promising an impending audit, share reduction plan, soon to be completed acquisitions, move to the OTCBB and enhanced shareholder value. One poster who dared suggest the stock could go as low as .009 was roundly ridiculed for his ignorance, as so many proclaimed it was the last chance to buy before the big run. We’ve seen this all before. Some here have been waiting for the audit since 2004. Read about how Mr. Turek pledged shares of the company to pay off his bankruptcy (which is still unresolved). Read about how Mr. Turek has loaned money from Plasticon to shell companies he controls and then forgiven the debts. There is much more to this company than the recent press releases would indicate. While its easy to get caught up in the euphoria of a rally its important to temper that with an analytical review of the past. The history of this company’s actions holds important clues to its future. GLTA. -------------------- Logic can protect you from the hazards of faith, hope and trust. -------------------------------------------------------------------------------- Posts: 352 \| From: California \| Registered: May 2005 \| IP: Logged \| allstocks.com