To: scion who wrote (11457 ) 10/2/2007 11:05:07 AM From: scion Read Replies (2) | Respond to e. During the fourth quarter of 2006 Plasticon identified $720,000 in debt that was incurred in 2005. Proceeds from the borrowings were deposited with LexReal Co., LLC, which is owned by James N. Turek. The loan proceeds due to Plasticon were offset against amounts owed to LexReal on Plasticon’s books at the loans were incurred in 2005, but the loans themselves were not recorded on Plasticon’s books. The loans were subsequently called requiring Plasticon to provide 270,296,888 of common shares in satisfaction of the notes. Message 23883464 The notes documenting these loans provide for an “upfront fee” to be paid to LexReal of Plasticon common stock valued at 100% of the loan amount, and a default interest rate of 20% daily. During the course of normal business for the period ended March 31, 2006, LexReal, LLC (LexReal), a Kentucky limited liability company, paid for goods and services for the benefit of the Company in the amount of $2,057,340. secinfo.com James N. Turek Bankruptcy Filing filed 14 May 02 Lex Real LLC – 10% ownership of company
