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rrm_bcnu

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Alias Born 11/09/2005

rrm_bcnu

Re: None

Saturday, 02/03/2007 4:41:55 AM

Saturday, February 03, 2007 4:41:55 AM

Post# of 33332
If you thought you weren't being spoofed... just remember the post below:

Posted by: shortsinthesand
In reply to: rrm_bcnu who wrote msg# 21775 Date:2/1/2007 5:23:11 AM
Post #21775 of 21927

rrm, it is interesting that you would bring that up.

the "COMMON STOCK SUBSCRIBED NOT ISSUED" that you mention is 7.3 billion common shares that were the result of debt conversions by Turek and his affiliates. These 7.3 billion common shares are in addition to the 7.3 billion that he will also receive upon the conversion of the preferred stock.

Now, let me ask you a question:

The 7.3 billion "subscribed, but not issued" common shares was as of March 31, 2006. Is there any chance that Turek could have been issued these shares by now?

think about it

---------------------------------

I guess I still haven't reconciled this outrageous statement with the facts. Lets examine the facts.

The 2006 Q1 10-QSB states in PART II on page 7 the following:

During the quarter ended March 31, 2006, the Company subscribed 3,193,760 shares of common stock for a total of 7,354,299 subscribed shares at March 31, 2006. The shares had not been issued as of March 31, 2006. During the period ended March 31, 2006, the Company did not subscribe any shares of preferred stock for a total of 360,000 subscribed shares at March 31, 2006. The shares had not been issued as of March 31, 2006.
http://www.sec.gov/Archives/edgar/data/318262/000133118607000032/plni110qsb064.htm

Shorts is saying that in addition to the 1 million convertible preferred already issued to Turek as compensation, an additional 7.3 billion common shares were "COMMON STOCK SUBSCRIBED NOT ISSUED" in that 10-QSB.

OK.. lets disregard what the company said in Part II page 7, and just assume that shorts is basing his outrageous number on the fair value of common shares in the document. The spreadsheet on page 4 shows that the company has listed the dollar value as $3,093,760 plus $100,000 for a different transaction. Lets hold out the SEMCO $100,000 since it doesn't apply.

In other calculations for stock issuances on that page, fair valuation is equivalent to $8,679,000/1,270,000,000 or .000683 cents per share. Thus the 7.3 billion new equavlent shares must be the result of $3,093,760/.000683... correct??? no...that comes to 4,529,663,250.

So what fuzzy math is being used to compute the 7.3 billion new common number? Maybe the closing price of .0003 on the day of that post?? no...
that comes to 10,312,533,333.

Lets try it using a different fuzzy math technique. We'll take the result to find out what the conversion rate is... that's the ticket! 3,093,760/7,300,000,000 = .0004238. Now it all fits. 14.6 billion shares (more than the Authorized Shares of 13.5 billion) are either subscribed or convertible preferred... Right???

Hold on... PART II says the Company subscribed 3,193,760 shares of common stock. Who is right here? The guy that signed for the accuracy of the report, or the Ukrainian math major? Which one would know what price was assigned for the subscription? And where does .0004238 PPS fit into the share prices at that time or recently?? I give up. Too fuzzy for me.

Think about it!


► 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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