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

To: rrm_bcnu who wrote (4359)	5/19/2006 8:50:19 AM
From: scion	Read Replies (1) \| Respond to of 12518

I suggest you try to get some more sleep Pumpty. Your mental deterioration is becoming more rapid and more obvious. highlighted sentenace[sic] that you do not understand about a qulaified[sic] void

To: rrm_bcnu who wrote (4359)	5/19/2006 9:19:22 AM
From: Jeffrey S. Mitchell	Read Replies (2) \| Respond to of 12518

Here is what the Form 211 has to say about the PLNI asset acquisition of PCI: In January 2005, the Company obtained certain assets (molds, sales contract, customer base, and patents) from a related party, Promotional Container, Inc. (PCI). PCI is owned by James N. Turek Sr., the Company's president and majority shareholder. Consideration to PCI consisted of a promise to exchange 100,000,000 shares of preferred stock (recorded as $360,000 of preferred stock subscribed in the accompanying balance sheet) in the Company by May 2007 and a promise to pay $500,000 (non interest bearing) by May 2006. Due to common control, paid in capital was reduced by $860,000 to record the transaction. The transaction was treated for accounting purposes as a transfer of net assets under common control with accounting similar to that of a pooling of interests. Accordingly, the historical cost basis of the underlying assets transferred from PCI to the Company was carried over from PCI to the Company. PCI had no net book basis in the assets transferred, so the Company recorded no assets in this transaction. otcstockinfo.com First off, it may be argued that until PLNI fulfills its obligations to PCI, it doesn't actually own the assets. That's not to say Turek can't change the consideration to a penny if expedient to do so, just that, as written, PLNI does not own title to the patents so to speak. PLNI is also under no obligation to complete the transaction until May 2007. Second, even if you want to argue that the asset acquisition was completed as of the stated date of January 2005, according to what Scionist posted, PCI would be obligated to file the patent conveyances within three months. They have not done so. Therefore, as I read it, these patents provide no added value to PLNI since the USPTO won't recognize that any such patent transfer has occurred. I seriously doubt Turek will be filing any such conveyances anytime soon. - Jeff

To: rrm_bcnu who wrote (4359)	5/19/2006 9:21:54 AM
From: scion	Read Replies (1) \| Respond to of 12518

Pumpty - tell Turek about Electronic Patent Assignment System (EPAS). He can do it all on line. The Assignment Services Division (ASD) of the Office of Public Records presents the Electronic Patent Assignment System (EPAS). Using EPAS, you create and submit a Patent Assignment Recordation Coversheet by completing on-line web forms and attaching the supporting legal documentation as TIFF of PDF (no color please) for submission via the Internet. Assignment information provided by the user will be recorded as provided and will not be verified or modified by the USPTO. SPECIAL NOTES All forms filed via EPAS will be marked with an U.S. Eastern Time timestamp when received on the USPTO server. Upon completion of the fee payment process, a Confirmation of Receipt will be displayed and the EST time stamp will then be applied to the submission. The time stamp applied by the EPAS server is the time of official USPTO receipt. Payments may be made using a credit card, electronic fund transfer (EFT) or through an existing USPTO deposit account. Credit cards accepted are MasterCard, Visa, American Express or Discover. TECHNICAL REQUIREMENTS EPAS works with NETSCAPE NAVIGATOR [Version 4.0 or later] or MICROSOFT INTERNET EXPLORER for WINDOWS [Version 4.0 or later]. Supporting documentation attached to the Patent Assignment Recordation Coversheet must be in TIFF image format, letter size (8.5"x11"), 300 dpi, portrait orientation and black and white. CONTACT INFORMATION For general information about electronic filing, please telephone the Assignment Services Division Customer Service Desk at, 571-272-3350 during regular business hours or e-mail your question(s) to EPAS@uspto.gov. If you need help in resolving technical problems, you may also e-mail us at EPAS@uspto.gov. We will respond to your e-mail inquiry within 2 business days. Please include a telephone number in your e-mail. epas.uspto.gov