[PLNI, TBLU] - Plasticon Forgives $140,507 loaned to Telcoblue Inc.

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Telcoblue Inc. (TBLU) filed today their 10-Q with the SEC for the period ending September 30, 2005. James Turek, the CEO of PLNI is also the CEO of TBLU. As can be seen below, PLNI loaned TBLU $140,507, then forgave the amount, never to receive payment from TBLU. Where did did PLNI obtain the cash for this loan? From sales of PLNI common shares? Is PLNI diluting its stockholders in order to transfer funds to TBLU, never to receive payment from TBLU? What happened to the $140,507? Was it paid to certain "consultants" of TBLU?


http://www.secinfo.com/d18jvt.z8.htm

Telcoblue Inc · 10QSB · For 9/30/5
Filed On 12/20/5 10:44am ET · SEC File 1-16099 · Accession Number 1331186-5-7

4. RELATED PARTY TRANSACTIONS On September 20, 2005, Plasticon International, Inc., a Wyoming corporation, (formally Wicklund Holding Company (WHC)), forgave a debt of $140,507 owed to WHC by telco Blue, Inc. James N. Turek, the President and CFO of telcoBlue, Inc. is also the President of Plasticon International, Inc. and WHC. The result is an addition to other income in the amount of $140,507 for the period.




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