PTSC Needs to do this.....
posted on
Oct 27, 2006 06:10AM
Plasticon International Inc. Fights Back!
MONDAY, OCTOBER 23, 2006 8:30 AM
- Market Wire
LEXINGTON, KY, Oct 23, 2006 (MARKET WIRE via COMTEX) -- Plasticon International Inc. (PINKSHEETS: PLNI) announced today that it will be launching an aggressive campaign against shorters and market manipulators in an effort for PLNI shareholders to realize the true value from a company which has experienced sales growth in 2005 compared to 2004 sales levels, and continues to show dramatic improvement in 2006.
Plasticon International recently announced that based on current sales rates in 2006 their wholly owned subsidiary Pro Mold is poised to achieve an additional 15% growth in sales revenues.
In a letter to the shareholders www.plasticonintl.com, Jim Turek announced today that it has ordered a current NOBO list from ADP Investor Communications. The NOBO, which stands for Non Objecting Beneficial Ownership list, shows a more complete corporate ownership profile than is available from the transfer agent alone through the DTC.
President and CEO James Turek stated, "We have periodically ordered the NOBO list and compared it with our transfer agents DTC list on several occasions in the last 24 months. Our management knew there was a significant failure to deliver position in our stock; however, until we were ready to execute our business plan to its fullest extent, publishing this list would have been of little consequence to the share price or benefit to our loyal shareholders. Our goal now is to identify and publish the continuous pattern established by brokers to short our stock with an ever-increasing size of failures to deliver. Upon the receipt of the current list and analysis by our SEC attorney, we will work closely with the SEC and all institutional holders to quickly resolve this failure issue."
Mr. Turek stated, "This is invaluable information for our shareholders and public to be aware of. Naked short selling (NSS) is literally an Economic Attack on our Financial Markets and small cap companies robbing millions of hard earned dollars from investors, and the ability for small cap companies to capitalize their operations and research in manner conducive to shareholder value. This practice distorts what would otherwise be a free market, in other words, a market where a share price value is dictated by supply and demand only, and not by the undue influence of naked shorters. Short selling manipulates the price and puts excessive downward pressure on the value of the stock. Short sellers buy back at a greatly reduced price taking millions of dollars in profit at the expense of the shareholders and the company. Because of the lack of brokerage guidance from the SEC, the shorting may continue as the PPS moves upward in a move to slow down the increase allowing the covering of short positions with legitimate shares. This continued short selling action may force Plasticon to continue to order updated NOBO lists to protect our long shareholders investment and the company from further attacks.
"We have all worked extremely hard to build a strong company. I will not allow short sellers and market manipulators to destroy the value we have created," stated Jim Turek, Plasticon CEO.