Plastic2Oil Inc (PTOI)

[100% CORRECT DD]

NEW CARROT ALERT! NEW CARROT ALERT! NEW CARROT ALERT!!!!!



Section 8 — Other Events

Item 8.01 Other Events.

As previously reported, on August 26, 2016 Plastic2Oil, Inc. (the “Company”) executed a Memorandum of Understanding (the “MOU”) with a Southern U.S. company regarding potential licensing of the Company’s technology and a potential sale of units. On November 28, 2016, the parties agreed to extend the term of the MOU until January 23, 2016. The parties will need to execute a definitive agreement by this date unless a further extension is mutually agreed upon. This extension of the MOU was agreed upon due to additional time needed to address zoning and permitting at the proposed site. There can be no guarantee that a definitive agreement will be reached prior to expiration of the extended term of the MOU.