[PLNI] Plasticon International, Inc. agrees to issue 64.8 BILLION common shares to its CEO James N. Turek, Sr. to convert only $7.1 million

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From the Proxy Statement issued by Plasticon International, Inc. (PLNI) for the Annual Shareholders Meeting scheduled for March 16, 2007. PCI and LexReal are two wholly owned companies of PLNI CEO James N. Turek, Sr.

In order to comprehend the magnitude of the massive stockholder dilution that the conversion of subscribed shares will result in, before the issuance of this Proxy Statement, the last reported common share outstanding figure reported by PLNI was 5.0 billion shares as of June 14, 2006 and the current Authorized Shares figure is 13.5 billion shares:


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"In January 2007, the company was presented an offer from PCI and LexReal, the holders of $7,129,299 in subscribed common stock, to convert those subscribed shares at $.00011 pershare. The arrangement was opined by William Aul, Esq. the corporate SEC attorney for the purpose of SEC compliance. The conversion of the Subscribed shares is at the desecration of LexReal or PCL"




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