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

To: scion who wrote (10992)	8/16/2007 12:31:29 PM
From: scion	Respond to of 12518

Debtor JAMES N. TUREK From Creditor Query - * ERIC N. ASSOULINE FOR THE FINANCE NETWORK LLC DBA EXPORT 420 S DIXIE HWY STE 2-M MIAMI, FL 33146 (cr) FIRST NATIONAL BANK OF BARNESVILLE 315 THOMASTON STREET BARNESVILLE, GA 30204 (cr) Promotional Container, Inc. (PCI) c/o J. Mel Camenisch, Jr. Stoll, Keenon & Park, LLP 300 W. Vine Street Suite 2100 Lexington, KY 40507-1801 (cr) THE FINANCE NETWORK LLC DBA EXPORT % ASSOULINE & BERLOWE PA 420 S DIXIE HWY STE 2-M MIAMI, FL 33146 (cr) From Mailing Matrix - Promotional Container, Inc. (PCI) c/o J. Mel Camenisch, Jr. Stoll, Keenon & Park, LLP 300 W. Vine Street Suite 2100 Lexington, KY 40507-1801 Debtor JAMES N. TUREK U.S. Bankruptcy Court Northern District of Florida (Panama City) Bankruptcy Petition #: 02-20411-LMK Assigned to: Judge Lewis M. Killian Jr. Chapter 11 Previous chapter 11 Voluntary Asset Date Filed: 05/14/2002 Date Terminated: 09/13/2006 --------------------- 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 stockholder. 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. As of September 30, 2006 and December 31, 2005, the Company owed a balance of $500,000 to Promotional Containers, Inc. as a result of the acquisition. During the period ended March 31, 2006, the Company successfully negotiated the extension of the note with a due date of December 31, 2010. Plasticon International/Inc · 10QSB · For 9/30/06 Filed On 3/15/07 secinfo.com