Plastic2Oil Inc (PTOI)

[retiredptt]

Yeah and on March 31, 2014 some were predicting PTOI/JBII was to announce that for Q4 2013 and Q1 2014 they were cash flow positive likely based on much of the fluff Bordynuik spewed during the December 10, 2013 AGM under Heddle leadership.

Speaking of that AGM, did PTOI/JBII ever own up to the day production was brought down in late 2013? Did PTOI ever own up to the exact day?

... or is this all we still know?

"The Company had to shut down its production late in the fourth quarter of 2013 due to severe cold weather that caused damage to condensers and other components of our processors. Management estimates that the repair of the processors will require the expenditure of between $175,000 and $200,000. At August 14,, 2014, we lacked the working capital or access to bank credit to make these repairs. We are reviewing our financing options, including the sale of shares of our common stock or other securities, in order to allow us to obtain sufficient funds to make the required repairs and resume operation of our processors. Management currently anticipates that the processors will remain idle at least until the third quarter of 2014. During the idle period, we significantly reduced our headcount by furloughing our operations personnel but retained a small team to perform general repairs and maintenance on the processors. Once the processors are repaired, we expect a small increase in our headcount in order to resume normal operations."


So to clarify, we're to believe the processors that went down after the December 10th AGM but before January 1st??? Can we guess before Christmas so between the December 10th AGM and December 25th?

Isn't it odd that Bordynuik went out of his way to mention the following during the December 10th AGM?

"Winter  The plant environment is different from the very hot summer to the cold winter. While we have things in place to stop pipe freezing and cold areas, in cases, cold related issues can rear its ugly head when least expected. It is a challenge when dealing with low temperatures and high wind lake effects. We are being vigilant to correct any issues that arise."

Maybe its just me but I find the December 10th freezing reference very interesting.

The fact is we were withheld the information that processors were broken and production was halted and we held our shares not knowing better. Someone, however, sold the PPS down to as low as $0.06 in January of 2014.

I wonder if insiders were aware of the freezing issues on or around November 12th when the PPS dropped 50%.

Autumnal Equinox (when the sun shines directly on the equator and the length of day and night is nearly equal) or not PTOI has very much gone out of their way to keep the shareholder forever in the dark and the company's history proves that out.

If you're interested in reading Bordynuik saying all kinds of things like "With Processors 2 & 3 running, we produced 45,000 gallons of fuel very quickly." give the December 10, 2013 AMG transcript below a read. What was PTOI/JBII's total fuel production in October, November and December again? Lots of interesting things were said to excite the shareholder on or around the time everything went kaput and the company made the business decision to hide that material event when again, someone likely in the know, sold the PPS down to $0.06.

PTOI/JBII December 10, 2013 AGM Transcript via the SEC