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

To: Buckey who wrote (12176)	10/6/2008 10:49:20 AM
From: scion	1 Recommendation Respond to of 12518

James N. Turek And Plasticon International, Inc. Charged With Defrauding Investors backgroundnow.com James N. Turek (”Turek”) and Plasticon International, Inc. (”Plasticon”) have been charged with defrauding investors in a purportedly private offering and issuing false and misleading press releases. The Commission’s complaint also names three entities that Turek owns or controls—LexReal Co. LLC, Promotional Containers, Inc., and TelcoBlue, Inc.—that did not engage in fraudulent conduct, but that received proceeds from the fraudulent offering. The Commission’s complaint filed in federal district court in the Eastern District of Kentucky alleges that, between approximately January 2005 and April 2007, Plasticon, a company that Turek controlled, raised between $8.2 million and $11.2 million through an unregistered securities offering involving at least 30 investors in multiple states. According to the complaint, investors were told that proceeds from the offering would be used by Plasticon for business matters. In fact, Turek used at least $2.8 million of investor proceeds for matters wholly unrelated to Plasticon’s business, including personal matters. The complaint also alleges that, during this same time, Turek and Plasticon issued multiple press releases that contained false or misleading statements about Plasticon’s revenue and income, Plasticon’s outstanding shares, and Plasticon’s ownership of certain patents and the value of those patents. According to the complaint, during that period, Plasticon’s stock price increased dramatically. Lastly, the complaint alleges that the Plasticon offering did not qualify for any exemptions from registration, and Plasticon and Turek therefore engaged in an unregistered, non-exempt distribution of Plasticon shares in violation of the securities laws’ registration provisions. Turek and Plasticon are charged with violating Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934. The Commission’s complaint seeks permanent injunctions against Plasticon and Turek and, with respect to Turek only, an accounting, disgorgement, prejudgment interest, civil penalties, an officer and director bar, and a penny stock bar. The Commission’s complaint also seeks an accounting and disgorgement with respect to LexReal Co. LLC, Promotional Containers, Inc., and TelcoBlue, Inc. backgroundnow.com

To: Buckey who wrote (12176)	12/2/2008 10:37:52 PM
From: yardslave	Read Replies (1) \| Respond to of 12518

Buckey, Over the last ten years I have seen this happen time and time again. I don't think I know of any penny stock that the "bashers" have be wrong at. Every pink sheet company that the bashers have "researched" turns out to be a scam. Longs have always been wrong. In the last 10 years that I have been watching, this happens 100 percent of the time. Not 50 percent, not 80, but 100 percent. After a certain amount of time you would think some people would catch on....