[PLNI]: The Fraudulent "Share Buyback Program" and the Sale of Restricted, Unregistered Common Stock

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1. In a press releases issued by PLNI on December 30, 2005, PLNI and its CEO, James N. Turek, Sr. stated:

"...the Company will be initiating a share buyback program starting early in 2006, designed to significantly reduce the number of issued and outstanding shares and to better reflect the earnings per share..."
http://snipurl.com/rlw2


2. According to documents filed with the SEC and pinksheets.com, instead of reducing the shares outstanding, during the next three months PLNI issued 1.27 BILLION common shares, increasing the common shares outstanding by a massive 34% to 5 BILLION shares outstanding in this short period of time.
http://www.secinfo.com/d18jvt.vx.htm
http://www.pinksheets.com/quote/finance.jsp?symbol=PLNI


3. According to same documents filed with the SEC and pinksheets.com, James N. Turek, Sr., the CEO of PLNI received ALL of the 1.27 BILLION common shares issued during the three months following the PLNI press release. These common shares received by Turek were valued at $8.7 million, according to company documents.


4. According to the same documents filed with the SEC and pinksheets.com, James N. Turek, Sr., the CEO of PLNI SOLD at least 1.0 BILLION of the common shares that he received between January 1, 2006 and March 31, 2006. These common shares were sold on or before March 31, 2006.


5. According to the PLNI SEC filings, James N. Turek, Sr, the CEO of PLNI, did not file the required form 4's regarding the receipt and sale of the common shares mentioned in the paragraphs above.
http://snipurl.com/rlwm


6. According to the PLNI SEC filings, there are no registration statements filed by PLNI or James N. Turek, Sr., as required by Federal regulations, regarding the 1.0 BILLION common shares that were received and sold by James N. Turek, Sr. within months of receiving the shares.
http://snipurl.com/rlwm


7. Who removed the Legends from the stock certificates of these 1.0 BILLION PLNI common shares that were sold by James N. Turek, Sr., the CEO of PLNI?




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