[PLNI]: The justification for $72.5 million paid in stock for services and other expenses begins

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Pay attention as Mr. Pumpy the Paid Promoter begins the campaign to justify $72.5 million in stock paid for services and other expenses by PLNI in 2004 as per the 2004 10-K recently filed with the SEC by PLNI. There is no justification for this amount of stock to be paid for services and other expenses by a company with zero revenues and 2 employees in 2004.


http://ragingbull.lycos.com/mboard/boards.cgi?board=PLNI&read=58600



By: rrm_b4u
12 May 2006, 04:24 AM EDT
Msg. 58600 of 58675
(This msg. is a reply to 58594 by greenfish94940.)
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GF,

The audited numbers are some vindication for your original decision to buy. I understand your frustration and anger.

You have seen some of my posts here exhibiting that anger too, expecially when the sales of stock were announced.

Still, if they company can detail what the services expenses were, and they relate to legal fees and the like, and they are legitimate expenses... then we can debate the value of the expenses.

Remember, the benficial interest is FMV not par. 1,000,000 shares FMV @.008 for GAAP accounting purposes is $8k, but issued at par (.001) is just $1K cash.



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