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Post# of 33332
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rrm_bcnu

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rrm_bcnu

Re: jim stop loss post# 13040

Tuesday, 07/11/2006 12:38:22 AM

Tuesday, July 11, 2006 12:38:22 AM

Post# of 33332
Jim, Congrats on your investment.

Let me explain why I have to disagree with you on this post. Here is my opinion as to why I believe the UCC-1 to be the financing vehicle for the sale of ProMold -

1. Here are all the Pro Mold UCC-1's including the financing and capital hardware purchases financed by Pro Mold. Note the equipment purchases and the company names assigned to the Secured Party blocks where equipment purchases are concerned. Equipment being financed listed the selling company as Secured Party.

http://www.sos.mo.gov/ucc/soskb/SearchStandardRA9.asp
search Pro Mold. See "10315 Page Industrial Blvd" as our Pro Mold.

2. Here is a Small Business Administration loan issued on 04/18/2002 that included "All equiptment and fixtures, now owned or hereafter acquired, whever located, and all spare parts and parts being used, fittings, accessories, accessions and tools for such equipment and fixtures." A total refinacing of the company in all likelihood.

http://www.sos.mo.gov/ucc/soskb/FilingChain.asp?FileNumber=20020055401B#

It also includes a termination affidavit dated 12/12/2005. That is very important since it is very close to the PLNI acquisition date of Pro Mold announced on 12/09/2005.

http://biz.yahoo.com/iw/051209/0103558.html

Thus at that filing point in time it appears that Plasticon had paid the former owner sufficient funds for him to pay off the SBA Loan, or had paid the loan of directly.

3. Then we have the UCC-1 that lists the former owners Private Trust as Secured Party for all company inventory, financial accounts, and proceeds of business of Pro Mold as collateral for a five year financial instrument from 6/12/06-6/12/11...

http://www.sos.mo.gov/ucc/soskb/FilingChain.asp?FileNumber=20060064996C

and we have this stated acquisition comment from the Q1 financials Note Payable:

Note payable to John P. Murphy (seller of Pro Mold, see Note 3), payable over a five year period in equal installments of $200,000 and shall bear interest at the rate of 5% per annum..... $1,000,000

and more indications of correlation from the 10-KSB:

"On December 5, 2005, the Company entered into an agreement to purchase ProMold, a Missouri corporation, for a purchase price of $3,500,000. The terms of the agreement included a cash payment of $2,500,000 with the balance $1,000,000 in the form of a 7% promissory note, with a five year term, which was secured by the assets purchased by the Company."

http://www.sec.gov/Archives/edgar/data/318262/000133118606000023/plni0410k.htm

Since the 10-KSB was filed before the Q1, I assume the interest of the note was reduced from 7% to 5% during the intervening time frame.

Based on the above I believe we can make a prima facie case for real evidence of the acquisition of Pro Mold. Those who have called that into question need to address this evidence and quit using innuendo to imply a rescindment of the purchase agreement. There is no evidence whatsoever to indicate that the Pro Mold acquisition has been recinded. A recindment of the agreement is a material event and would be announced to the public. There is, however, significant evidence in the form of audited and unaudited financial statements, and the above financial filings, to suggest that the Pro Mold acquisition was executed as indicated by the company and is not in recindment. Those calling into question the acquisition are just spreading Fear, Uncertainty, and Doubt (FUD). This all just my personal opinion though. Your analysis of the above??






► Any comment provided is my personal assessment/opinion of the indicated stock. "When the gods wish to punish you, they grant your wishes. Therefore be careful of what you wish for."

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