To: Goinlong who wrote (1956 ) 12/2/1998 6:58:00 PM From: Provocateur Respond to
Not trying to bring us down any further, but I find it morbidly humorous to find out that RG/Reasons was writing the PRs all along. Somehow it doesn't surprise me. What unmitigated manipulation on RG's part and irresponsible/negligent delegation of duties on Dave Calkin's part. Hopefully he has learned an important lesson. Let's hope the new attorney that has been hired will have a better impact. Considering we haven't seen any hype lately and the paid pimp patrol isn't showing their collective face here, I think we could assume we are on the right track. As far as Dave having nothing to do with the stock anymore, I have heard the same story from him on that. I don't buy it. It's laughable to think that any CEO of a public corporation could honestly assert that, let alone a 60+ year old man who has put his family's entire life savings into this venture. Instead, I think it is a way for him to avoid having to spend excessive amounts of time talking on the phone, trying to explain the daily/weekly fluctuations in the stock price to annoyed shareholders on a mass level. He has better things to do with his time. With enough poking and prodding, he will tell you the information you need to know. Don't believe him when he says..."Well, I don't have the figures in front of me...(in an annoyed tone) I guess I could go and try to find them if you want, but not right now." He knows the information, he is just not willing to share it with every Tom, Dick and Henrietta that calls...especially if he doesn't know you. So don't fall for the fact that he doesn't know what a convertible is. He knows very well. In fact, he told me himself that there was a convertible amount for the financing in the form of around a $100,000. Though he pretended not to know exactly the amount of shares that have been dumped into the market because of it, I estimate the convertible's floor is somewhere around where we are, and that the holders have converted almost all of it into 2+ million shares. I doubt they have been able to sell all of it, as whoever it was that converted is now trying to make some money on the shares by pressuring PLRP to do some more PR. These convertibles are why we are where we are. There is a temporary glut of shares out there that no one wants to buy. It was obvious from the beginning. Especially considering it had Wall Street Financial's modus operandi written all over it. Look at ARXA as an example. At least here, it was for a relatively small mount of money, and therefore the damage was limited (i.e. not enough to do an RS in the near term). And until there is a good reason for investors to buy into PLRP on a grander scale, the price will continue to sit where it is. None of this surprises me. There is almost always a legitimate reason for stocks to trade where they are. The next important test IMO is to see if PLRP comes through with its reporting status. Calkins claims they will make it and I tend believe him. After that, it will be his responsibility to finally put things into 2nd gear and make this acquisition pay for itself. I still think we are early, but the potential looks good for 1999.
