Plastic2Oil Inc (PTOI)

[buenokite]

You are missing a fundamental aspect of this company if you believe Bogolin is the only one to buy plastic. Every single CEO from Bordynuik through Heddle has done the same. It is all there for you to read in the filings. Why did even the great Bordynuik buy plastic? Think about it. Why did Madison County terminate the contract and specifically say JBI needed cleaner pre-processed plastic? Think about it.

Now to be clear, Bordynuik tried to obfuscate the issue for investors by not breaking out the costs of buying the plastic and preprocessing in the filings from the time he was CEO. And he went as far as even hiding the true fuel margins and revenue by combining it with the results from cardboard recycling. Specifically the company hid negative P20 fuel margins behind cardboard recycling in the latter part of 2011 and in Q1-Q3 of 2012. But then Rauber beginning in Q4 of 2012 started being honest and broke out the costs for buying the plastic and did year over year compares which showed Bordynuik was buying plastic when he was CEO. And it showed that the recycling business made negative fuel margins look positive and materially inflated revenue. What possible business reason exits for that kind of obfuscation? Maybe he didn't want investors to know the machines required purchased plastic? I can post the links if necessary.

Just because bogolin is a bone head doesn't mean that the machine can only except pristine plastic.