[PLNI]: Plasticon International Inc. files 2006 First Quarter Financials

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PLNI files the 2006 First Quarter Financials. To get an idea of how bad these financials are one only has to look at two items:


1. PLNI failed to file a 10-Q for the quarter with the SEC. Instead it filed the March 31, 2006 financial statements with pinksheets.com.

2. PLNI filed these financials after the close of trading on the Friday before the big Memorial Day Holiday.


The two points above help explain how bad the information is that is contained in the financials.

In addition, the company lost $9.4 million on only $1.8 million in revenues for the quarter ending March 31, 2006. James N. Turek, Sr., the CEO of PLNI received 1.27 billion common shares of PLNI worth $8.7 million during the three months ending March 31, 2006. This is in addition to the PLNI preferred shares that are committed by PLNI to be issued to Turek and/or an entity controlled by him that can be converted to a further 7.3 billion common shares.

There will be a complete analysis of the 2004, 2005 and March 31, 2006 financials by the_worm06 Research Department in the coming weeks, including how these financials submitted by PLNI prove that many of the dozens of press releases and public statements issued by PLNI during 2004, 2005 and 2006 were materially false and misleading.




details to follow



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