Plastic2Oil Inc (PTOI)

[jaxstraw]

Heddle could force a Chapter 11 filing whenever he likes.
Would that be in his interest?

Declare CH 11
Wipe out common shareholders
Issue Newco to all creditors (basically the vast majority is just Heddle) in lieu of cash
Reconfigure the AS under bankruptcy protection to a reasonable amount again.
Exit CH 11 as almost sole holder of all new company stock.
Merge shell into Bordynuiks new venture and issue Bordynuik millions of public shares in for his stock ( private) in his new venture.
Move all of Bordynuiks science project over to his new venture.
Heddle resigns and is free to unload his stock once Bordynuiks five year ban is up.......which is how far out again ?