Plastic2Oil Inc (PTOI)

[BigBake1]

i strongly suspect 2M (approx) were *loaned* .. it reminds me of the *aromatic* .. who *triggered*
threshold in June 2012 but didnt actually *sell* PTOI until mere days b4 the dolts settlement (1.13)
when stock was taken from approx 75c to 1.49 b4 the next *round* re: PTOI's
compression/resets/shorting >> got underway

Well first thing incorrect about this statement is that settlement isnt based upon 13 days when dealing with conversions. The SEC specifically provides exception to Rule 203 for warrants and conversions. The insider/financier/debtor has 35 days to deliver the physical certificate to their broker after opening the position. That is in fact what happened in 2012, PIPE financier sold shares while awaiting their physical certificate with the restricted legend removed.

Rule 203(b)(2)(ii) provides an exception from the uniform locate requirement for situations in which a broker-dealer effects a sale on behalf of a customer that is deemed to “own” the security although, through no fault of the customer or the broker-dealer, it is not reasonably expected that the security will be in the physical possession or control of the broker-dealer by the settlement date. The Adopting Release states that such circumstances could include the situation where a convertible security, option, or warrant has been tendered for conversion or exchange, but the underlying security is not reasonably expected to be received by the settlement date. (69 FR at 48015). In such situation, delivery should be made on the sale as soon as all restrictions on delivery have been removed, and in any event within 35 days after trade date. If delivery is not made within 35 days after the trade date, the broker-dealer that sold on behalf of the person must either borrow securities or close out the open position by purchasing securities of like kind and quantity.

Rule 203(b)(2)(ii) provides an exception from the uniform locate requirement for situations in which a broker-dealer effects a sale on behalf of a customer that is deemed to “own” the security although, through no fault of the customer or the broker-dealer, it is not reasonably expected that the security will be in the physical possession or control of the broker-dealer by the settlement date. Footnote 71 of the Adopting Release states that one such situation is where a customer owns stock that was formerly restricted, but presently may be sold pursuant to the provisions of Rule 144 under the Securities Act of 1933 (17 CFR 230.144). Rule 144 securities may not be capable of being delivered on settlement date due to processing to remove the restricted legend. In such situation, delivery should be made on the sale as soon as all restrictions on delivery have been removed, and in any event within 35 days after trade date. If delivery is not made within 35 days after the trade date, the broker-dealer that sold on behalf of the person must either borrow securities or close out the open position by purchasing securities of like kind and quantity.

This however wasnt one of those types of transactions as the TA clearly provided that there were shares converted to free trading before the big dump of 2 million shares over a 3 day period of time. Of course this will be easy to confirm when the Reg SHO report for settlement comes out, the FTD report for this period.

As to the Daily Reg SHO, it is meaningless data, it doesnt show anything of value, one can guess all they want but it is just a guess as to any short or open position at the end of of the day if any.