[PLNI]: Watch as Mr. Pumpy the Promoter defends one of the most blatant examples of self-dealing in the history of penny stocks
.
.
.
https://www.otcstockinfo.com/repository/671/671_FR1.pdf
1. PLNI issues 2.3 BILLION shares of common stock worth $27.6 million to its CEO, James N. Turek, Sr., as compensation for the 2005 year.
2. Common shares outstanding for PLNI are increased significantly in 2005 due to this compensation to Turek - from 1.4 billion shares to 3.7 billion shares. All during a time when PLNI was publicly stating that it was in a share buyback program.
3. Turek then sells at least $6.0 million of the PLNI common stock during 2005.
4. Turek lends $6.0 million in cash to PLNI in 2005 from the sale of his PLNI common stock.
5. Turek then forgives the $6.0 million owed to him by PLNI in exchange for a commitment from PLNI to issue him PLNI Preferred Stock.
6. The Preferred Stock which has been committed to Turek is convertible into 7.3 BILLION common shares.
7. The 7.3 BILLION common shares that would result from the conversion of the Turek Preferred Stock are worth approximately $37 million at today's market prices.
8. After dozens of press releases regarding substantial orders, shipments and profitability of PLNI, revenues for PLNI in 2005 resulted in only $170,000.
9. Revenues for PLNI in 2004 were ZERO.
10. PLNI lost $32 million in 2005 and $74 million in 2004.
11. Turek received approximately $71 million in compensation in 2004.
12. And now, in a very sad moment, the posted message below from Raging Bull is what Mr. Pumpy the Promoter has to say about this chain of events leading to the Preferred Stock (One seriously has to ask: "How much is Mr. Pumpy the Promoter being paid to promote PLNI?") :
http://ragingbull.lycos.com/mboard/boards.cgi?board=PLNI&read=56325
By: rrm_b4u
25 Apr 2006, 05:43 PM EDT
Msg. 56325 of 56325
(This msg. is a reply to 56058 by deadheded1.)
Jump to msg. #
ded
Please note that the shares are listed as "Subscribed - not issued" This is a poison pill. He prevents any takeover attempt by maintaining a cortrolling interest. He is in a legal battle with Big Plastic. He has the best plastic rebar support patents out there, and a very large contract to distribute them. If you feel so badly, you really should sell. But I doubt you will because you know the potential is here. Think it through.
rrm
(Voluntary Disclosure: Position- Long; ST Rating- Buy; LT Rating- Buy)
_________________________________________
.
.
https://www.otcstockinfo.com/repository/671/671_FR1.pdf
1. PLNI issues 2.3 BILLION shares of common stock worth $27.6 million to its CEO, James N. Turek, Sr., as compensation for the 2005 year.
2. Common shares outstanding for PLNI are increased significantly in 2005 due to this compensation to Turek - from 1.4 billion shares to 3.7 billion shares. All during a time when PLNI was publicly stating that it was in a share buyback program.
3. Turek then sells at least $6.0 million of the PLNI common stock during 2005.
4. Turek lends $6.0 million in cash to PLNI in 2005 from the sale of his PLNI common stock.
5. Turek then forgives the $6.0 million owed to him by PLNI in exchange for a commitment from PLNI to issue him PLNI Preferred Stock.
6. The Preferred Stock which has been committed to Turek is convertible into 7.3 BILLION common shares.
7. The 7.3 BILLION common shares that would result from the conversion of the Turek Preferred Stock are worth approximately $37 million at today's market prices.
8. After dozens of press releases regarding substantial orders, shipments and profitability of PLNI, revenues for PLNI in 2005 resulted in only $170,000.
9. Revenues for PLNI in 2004 were ZERO.
10. PLNI lost $32 million in 2005 and $74 million in 2004.
11. Turek received approximately $71 million in compensation in 2004.
12. And now, in a very sad moment, the posted message below from Raging Bull is what Mr. Pumpy the Promoter has to say about this chain of events leading to the Preferred Stock (One seriously has to ask: "How much is Mr. Pumpy the Promoter being paid to promote PLNI?") :
http://ragingbull.lycos.com/mboard/boards.cgi?board=PLNI&read=56325
By: rrm_b4u
25 Apr 2006, 05:43 PM EDT
Msg. 56325 of 56325
(This msg. is a reply to 56058 by deadheded1.)
Jump to msg. #
ded
Please note that the shares are listed as "Subscribed - not issued" This is a poison pill. He prevents any takeover attempt by maintaining a cortrolling interest. He is in a legal battle with Big Plastic. He has the best plastic rebar support patents out there, and a very large contract to distribute them. If you feel so badly, you really should sell. But I doubt you will because you know the potential is here. Think it through.
rrm
(Voluntary Disclosure: Position- Long; ST Rating- Buy; LT Rating- Buy)
_________________________________________
posted by the_worm06 | 4/25/2006 02:57:00 PM
0 Comments:
Post a Comment
<< Home