[PLNI]: $4.7 million and Stock Dilution

$4.7 million

That is the amount of unsecured claims in the bankruptcy case for James Turek, the CEO of PLNI, listed below.

This is from the Third Amended Reorganization Plan that is included in the public court documents. It also states that PLNI will issue treasury stock to satisfy the $4.7 million in unsecured claims. It states that the PLNI stock will then be sold by the creditors.

Does anyone know the amount of PLNI stock that was issued by PLNI in order to satify these claims?

Has the PLNI stock been issued yet or is it planned to be issued in the near future?




FROM PACER:

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

JAMES N. TUREK
3166 CUSTER DRIVE
SUITE 303
LEXINGTON, KY 40517
SSN: xxx-xx-0382

Debtor represented by
C. Edwin Rude, Jr.
C. Edwin Rude, Jr. Attorney at Law
211 E. Call Street
Tallahassee, FL 32301-7607
850-222-2311
Fax : 850-222-2120
Email: edrudelaw@earthlink.net

United States Trustee
110 E. Park Avenue
Suite 128
Tallahassee, FL 32301
850-521-5050

U.S. Trustee represented by
Charles F. Edwards
Office of U.S. Trustee
110 East Park Avenue
Suite 128
Tallahassee, FL 32301
850-521-5050
Fax : 850-521-5055
Email: charles.edwards@usdoj.gov

02/23/2005 286 Third Amended Chapter 11 Plan As Restated Filed by Debtor JAMES N. TUREK (RE: related document(s)197 Chapter 11 Plan, ). (Attachments: # 1 Exhibit A# 2 Exhibit B# 3 Exhibit C)(Rude, C.) (Entered: 02/23/2005)




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