[PLNI]: Plasticon International, Inc. issues another false and misleading press release - this time on the Pro Mold subsidiary order backlog
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1. In a press release issued on Dec. 12, 2006 and shown below, PLNI states that:
"...its subsidiary companies, Pro Mold and SEMCO, have reported their largest order backlogs in the history of either company. Pro Mold's current order backlog is in excess of $960,000 through January 2007..."
and
"... As we approach the close of 2006, our future has never been brighter. Our companies have achieved record setting order backlogs..."
2. Somehow, PLNI CEO Janes N. Turek, Sr. seems to have forgotten that over a year ago PLNI issued a press release stating that the Pro Mold, Inc. backlog was $1 million, an amount greater than the "record setting order backlog" of $960,000 mentioned in today's press release:
"ProMold, Inc. currently has a $1 million backlog of orders.
http://www.marketwire.com/mw/release_html_b1?release_id=99198
3. A review of statements made by PLNI in the two press releases exhibited above shows that PLNI either made false and misleading statements about Pro Mold's backlog in its October 26, 2005 press release ($1 million backlog) or PLNI made false and misleading statements in today's press release about its current backlog of $960,000 being "record setting" and "the largest order backlogs in the history of the company".
4. In addition, it appears that PLNI is further misleading the investment public by stating that there is increased demand for its products when in the same press release it states that the distribution agreement with BlueLinx Corp. was terminated due to "the inability of BlueLinx to meet sales and distribution quotas". By definition, if PLNI's main distributor of its products, the largest building products distributor in the United States, cannot meet the sales and distribution quotas, then the demand for PLNI products has decreased and not increased as PLNI has stated in its press release of today.
Today's PLNI press release:
http://www.marketwire.com/mw/release_html_b1?release_id=193970
Plasticon International, Inc. Negotiating With Multiple National Distributors to Meet Increased Demand for Products
Pro Mold Reports Backlog of Orders in Excess of $960,000 Through January 2007
LEXINGTON, KY -- (MARKET WIRE) -- December 12, 2006 -- Plasticon International, Inc. (PINKSHEETS: PLNI) is pleased to announce that its subsidiary companies, Pro Mold and SEMCO, have reported their largest order backlogs in the history of either company. Pro Mold's current order backlog is in excess of $960,000 through January 2007.
Plasticon International is currently conducting negotiations with several national distributors to support the increased demand for the Company's products. Due to the inability of BlueLinx to meet sales and distribution quotas as agreed upon in their exclusive agreement, Plasticon International has elected to exercise its arbitration rights to seek compensation.
"As we approach the close of 2006, our future has never been brighter. Our companies have achieved record setting order backlogs and we're beginning to receive initial offers from several national distributors. These initial offers are already expected to exceed those that we received from BlueLinx over the entirety of our three-year relationship. We are very excited about a new year and an exciting future for Plasticon and our shareholders," stated Jim Turek, CEO and President of Plasticon International, Inc.
Additionally, Plasticon International is preparing for the annual World of Concrete Expo being held in Las Vegas, Nevada January 23 through January 26, 2006. The Company is planning on displaying its environmentally friendly products in its own booth. Plasticon International will announce more information regarding the show as it becomes available.
About Plasticon International, Inc. Plasticon International (www.plasticonintl.com) designs, produces, and distributes high-quality concrete accessories, informational & directional signage and plastic lumber, which are all produced from recycled and recyclable plastics. Plasticon is a leader, an innovator of cutting edge design, engineering, and production of industrial and commercial products. Plasticon is a green company, environmentally friendly, using recycled plastics to produce its line of products.
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events.
Contact:
For more information:
Investor Relations
1-866-THE-APPL(E)
http://www.plasticonintl.com
SOURCE: Plasticon International Inc.
________________________________
.
1. In a press release issued on Dec. 12, 2006 and shown below, PLNI states that:
"...its subsidiary companies, Pro Mold and SEMCO, have reported their largest order backlogs in the history of either company. Pro Mold's current order backlog is in excess of $960,000 through January 2007..."
and
"... As we approach the close of 2006, our future has never been brighter. Our companies have achieved record setting order backlogs..."
2. Somehow, PLNI CEO Janes N. Turek, Sr. seems to have forgotten that over a year ago PLNI issued a press release stating that the Pro Mold, Inc. backlog was $1 million, an amount greater than the "record setting order backlog" of $960,000 mentioned in today's press release:
"ProMold, Inc. currently has a $1 million backlog of orders.
http://www.marketwire.com/mw/release_html_b1?release_id=99198
3. A review of statements made by PLNI in the two press releases exhibited above shows that PLNI either made false and misleading statements about Pro Mold's backlog in its October 26, 2005 press release ($1 million backlog) or PLNI made false and misleading statements in today's press release about its current backlog of $960,000 being "record setting" and "the largest order backlogs in the history of the company".
4. In addition, it appears that PLNI is further misleading the investment public by stating that there is increased demand for its products when in the same press release it states that the distribution agreement with BlueLinx Corp. was terminated due to "the inability of BlueLinx to meet sales and distribution quotas". By definition, if PLNI's main distributor of its products, the largest building products distributor in the United States, cannot meet the sales and distribution quotas, then the demand for PLNI products has decreased and not increased as PLNI has stated in its press release of today.
Today's PLNI press release:
http://www.marketwire.com/mw/release_html_b1?release_id=193970
Plasticon International, Inc. Negotiating With Multiple National Distributors to Meet Increased Demand for Products
Pro Mold Reports Backlog of Orders in Excess of $960,000 Through January 2007
LEXINGTON, KY -- (MARKET WIRE) -- December 12, 2006 -- Plasticon International, Inc. (PINKSHEETS: PLNI) is pleased to announce that its subsidiary companies, Pro Mold and SEMCO, have reported their largest order backlogs in the history of either company. Pro Mold's current order backlog is in excess of $960,000 through January 2007.
Plasticon International is currently conducting negotiations with several national distributors to support the increased demand for the Company's products. Due to the inability of BlueLinx to meet sales and distribution quotas as agreed upon in their exclusive agreement, Plasticon International has elected to exercise its arbitration rights to seek compensation.
"As we approach the close of 2006, our future has never been brighter. Our companies have achieved record setting order backlogs and we're beginning to receive initial offers from several national distributors. These initial offers are already expected to exceed those that we received from BlueLinx over the entirety of our three-year relationship. We are very excited about a new year and an exciting future for Plasticon and our shareholders," stated Jim Turek, CEO and President of Plasticon International, Inc.
Additionally, Plasticon International is preparing for the annual World of Concrete Expo being held in Las Vegas, Nevada January 23 through January 26, 2006. The Company is planning on displaying its environmentally friendly products in its own booth. Plasticon International will announce more information regarding the show as it becomes available.
About Plasticon International, Inc. Plasticon International (www.plasticonintl.com) designs, produces, and distributes high-quality concrete accessories, informational & directional signage and plastic lumber, which are all produced from recycled and recyclable plastics. Plasticon is a leader, an innovator of cutting edge design, engineering, and production of industrial and commercial products. Plasticon is a green company, environmentally friendly, using recycled plastics to produce its line of products.
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events.
Contact:
For more information:
Investor Relations
1-866-THE-APPL(E)
http://www.plasticonintl.com
SOURCE: Plasticon International Inc.
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posted by the_worm06 | 12/12/2006 08:52:00 AM
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