Tags

, , , ,

The latest Q report is out, and many are asking… is it time !  It’s a question any loving pet owner asks themselves when they are watching their beloved pet’s health deteriorate.  As a loving pet owner you just hate to see your pet suffer.  There comes a point in which you have to start thinking about euthanizing the pet in order to end their suffering.  This analogy could be applied to PNCH also.  Take a look at the below chart (O/S data taken from reports listed here).  It’s plain to see that if the current trend regarding Outstanding Share (O/S) count increases continues, the O/S count will need to be increased to at least 5-Billion in order to meet the demand for operating funds by June of 2014.

Image

Now, Mr. Samblis indicated a while back that the reason he increased the Authorized Share (A/S) count to 4-billion was so that there could be a better than 2 to 1 margin of A/S to O/S.  He indicated this was needed in order to obtain more favorable rates for borrowing money.  So… if the current trend continues, by June we could see an A/S increase to 10-Billion !   Can the company survive raising the A/S count to 10-Billion ???   Do you now see the relationship mentioned above relative to suffering?  When is enough… enough ?

Some of the events of late are simply a desperate attempt to hang on.  Just like you spend thousands trying to keep your beloved pet alive just a little while longer… so is Mr. Samblis doing for PNCH.  Only he is not spending his money… he is spending investor’s money.  If money were not a concern, many pet owners would spend anything to keep their pet alive.  And while keeping their pet “alive”… what is the quality of life for the pet?  There are times, and circumstances, in which all the money in the world is not enough to save them.  Many times all you do is prolong death instead of finding a cure.

Unfortunately with PNCH, many point to the CEO as the root cause of the deterioration.  The business plan is viable, however it appears all the money in the world can not cure the ill with PNCH.  There just doesn’t seem to be a will to succeed.  To succeed, many CEO’s will tell you, when you start thinking you’re the smartest guy in the room, the end is in sight.  Any good CEO worth their salt has good advisers surrounding them… and they heed their advice !

Mr. Samblis appears to have now discarded his previous statements regarding when and where he will inform the investors and public regarding the events of PNCH.  Recently he has taken to posting again on LieHub.  Of all places to go back on your word… he chooses LieHub.  These actions appear to be simply desperate actions to pump the PPS so that more shares can be sold to keep the company alive a little while longer.   Does anyone think that if Mr. Samblis had good advisers surrounding him they would have advised to go on LieHub and advertise your business ?

Its doubtful Mr. Samblis will voluntarily give up anytime soon… after all, its not his money he is wasting.  He will likely pursue success as long as he can find investors willing to invest based on his overly inflated promises (what many call lies).  However the pool of potential investors will likely remain small or non-existent as more and more information about his actions become more commonplace for research.

Could PNCH be saved… of course, its possible, but that is highly unlikely while the current CEO remains in control, and acts foolishly.  Mr. Samblis’s actions have brought this company to where it is today, and the trend has been a steady decline for quite some time now, and that is unlikely to change unless the change starts at the top.  Mr. Samblis likes to point to anyone other than the man he sees in the mirror for the decline, but the simple truth is… HE made all those decisions.  As just one example, HE chose to do business with Collins, and it should of been HE that prevented Mr. Collins from being able to deceive him.  As the boss… it’s you’re obligation to know what is going on.  As Reagan put it… trust, but verify !

So… is it time to put PNCH down?  It’s been a loving passion for many, and still is for a few, however as difficult as it may be… it may be time !   Maybe bankruptcy, name change, and a reverse split all together may give the company a new start, but give a bad driver a new car and they will bang that one up also.