Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Jeffrey S. Mitchell who wrote (10443)	7/6/2007 12:00:03 PM
From: scion	Read Replies (1) \| Respond to of 12518

I wonder why Turek refused to answer questions about the patents at the 'Meeting of Creditors on June 27, 2007'. He had already said - "Our patents were recently valued at $16 million, and were validated by the federal courts of the United States.". Presumably there is a record of that validation "by the federal courts of the United States" somewhere. He could simply produce it in evidence. j. At the Meeting of Creditors on June 27, 2007, James N. Turek, Sr., refused to answer several questions including but not limited to: (1) who owns the patents that Debtor Pro Mold uses in its daily operations? and (2) who has a lien on the patents that Debtor Pro Mold uses in its daily operations? k. The Meeting of Creditors was concluded by the Office of the United States Trustee. Plasticon Takes Major Step Forward in Transition From Pink Sheets to OTCBB President and CEO Jim Turek Announces That Audit of All Company Financials Will be Completed in Four Weeks LEXINGTON, Ky., May 18, 2005 (PRIMEZONE) -- Plasticon International Inc. (Pink Sheets:PLNI) today announced that it has come one step closer in the company's transition strategy to move from the Pink Sheets to the OTCBB. An audit of all company financials will be completed in four weeks. "This audit is an important milestone in terms of demonstrating to our shareholders and the public that we are serious in our goal of moving the company forward," said Jim Turek, President and CEO of Plasticon International, Inc. "We are pleased to announce that we are four weeks from a completed audit. Upon completion, we will immediately be filing the necessary documents with the SEC to become fully reporting." Plasticon International, Inc., which is the sole owner of a patented line of recycled plastic rebar supports, among other products, has recently expedited its efforts to get back on the OTCBB. We just feel that the time is right," Mr. Turek said. "We are operating right now from a position of strength. We have a clear technological edge over our competition. Plasticon has little to no debt. Our patents were recently valued at $16 million, and were validated by the federal courts of the United States. We just launched a new marketing campaign which is successfully communicating our story to our customers and investors. We also signed an exclusive distribution contract with the largest building materials distributor in the United States, which gives us a fantastic opportunity to rapidly expand our customer base." primenewswire.com

To: Jeffrey S. Mitchell who wrote (10443)	7/6/2007 12:19:38 PM
From: rrm_bcnu	Respond to of 12518

Replying to a question not asked on this board? I doubt both your hypotheses. If one is a true long, we realize that under CH11 the common shareholder's equity is "normally" zero unless the company is dedicated to emerging with common shareholders intact. That requires a Plan of Reorganization, and the longer this case drags out the greater the expense for Plasticon. A common tactic is to drag the case out to ensure that the company cannot issue a Plan. The faux long would never postulate that this ruling was bad. They would continue to put the most positive story possible on the picture. Traders would simply go for the Reorg plan so that they may have some exit strategy. A short would do all they can to promote the BK Fraud and get the stock suspended. No covering required and no taxes. You know that is the truth.

To: Jeffrey S. Mitchell who wrote (10443)	7/6/2007 12:33:35 PM
From: scion	Respond to of 12518

h. Answering further, counsel for the Murphy Entities discussed more than two weeks ago the scheduling of 2004 exams with counsel for Debtor Pro Mold and was informed that Debtor Pro Mold would not agree to the scheduling of and would oppose the taking of any 2004 exams in this case. i. Counsel for the Murphy Entities came to the conclusion that depositions would be more appropriate than 2004 exams in this case because two contested matters are presently pending in this case. j. At the Meeting of Creditors on June 27, 2007, James N. Turek, Sr., refused to answer several questions including but not limited to: (1) who owns the patents that Debtor Pro Mold uses in its daily operations? and (2) who has a lien on the patents that Debtor Pro Mold uses in its daily operations? k. The Meeting of Creditors was concluded by the Office of the United States Trustee. 7. a. The Murphy Entities deny the allegations in Sentence 1 of Paragraph 7 of the Motion to Quash. b. The Murphy Entities deny the allegations in Sentence 2 of Paragraph 7 of the Motion to Quash. 8. a. The Murphy Entities deny the allegations in Sentence 1 of Paragraph 8 of the Motion to Quash. b. The Murphy Entities deny the allegations in Sentence 2 of Paragraph 8 of the Motion to Quash. c. Answering further, the Murphy Entities have only requested and received the information listed in the Agreed Order on Debtor’s Amended Emergency Motion to Use Cash Collateral (“Agreed Emergency Cash Collateral Order”) and the Promotional Containers, Inc., Agreement for Purchase and Sale of Business Assets. d. Answering further, the Murphy Entities have requested on several occasions a copy of the exhibits attached to the Promotional Containers, Inc. Agreement for Purchase and Sale of Business Assets in order to determine if Debtor Plasticon or James N. Turek, Sr., or another related entity purchased the patents of Promotional Containers, Inc. that Debtor Pro Mold currently uses in its business. e. As of this date, Debtor Pro Mold and Debtor Plasticon have failed to produce those exhibits. Extract from - THE MURPHY ENTITIES’ RESPONSE TO DEBTOR’S MOTION TO QUASH NOTICE OF DEPOSITION OF JACK P. FITTER, CPA