Plastic2Oil Inc (PTOI)

[loanranger]

"clearly it did not close in Jan 2017 .. because if it had an 8K would have been filed by mgmt"

Think so? The idea that this company can be relied on to keep the public fully informed isn't supported by its history, is it?

Surely you remember when the month of January 2014 passed without the company reporting that "the three operational P2O processors have been idle since late December 2013".

And when the month of February 2014 passed without the company reporting that "the three operational P2O processors have been idle since late December 2013".

And when the month of March 2014 passed without the company reporting that "the three operational P2O processors have been idle since late December 2013".

And when the month of April 2014 passed without the company reporting that "the three operational P2O processors have been idle since late December 2013".

And when the month of May 2014 passed without the company reporting that "the three operational P2O processors have been idle since late December 2013".



EVERYBODY remembers the surprise announcement that the company made in its 10-K filing that wasn't filed until June 4th...a filing that itself was inexplicably made more than two months late:
"For the reasons described in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, the three operational P2O processors have been idle since late December 2013."
https://www.sec.gov/Archives/edgar/data/1381105/000121390014003943/f10k2013_jbiinc.htm


Is this the kind of company and CEO about which one should reasonably and matter-of-factly believe that "because if it had an 8K would have been filed by mgmt" about ANY event material to or simply important to shareholders?


The same CEO that left the investing public with no reason to think that their company was not operating in at least some small way for the first 5 months of 2014 WHEN IT WASN'T is the CEO now. To think that ANY meaningful event could or couldn't have occurred merely "because if it had an 8K would have been filed by mgmt" isn't rational given mgmt's history.



ps. The same 10-K linked above and others filed before and since have made this statement about the property at issue in their ITEM 2. PROPERTIES sections....
4. Thorold, Ontario Office Building
We own approximately 21,000 square feet in Thorold, Ontario, consisting of 5,000 square feet of office space and 16,000 square feet of warehousing and storage space which serves as storage for the Company as well as offsite IT operations. This property is encumbered by a mortgage securing approximately $280,000 of debt.

.....without noting in that section that that debt is $280,000 in Canadian dollars.


pps. This was the entire description of the very same property as it appeared in the 2011 10-K:
1. Corporate Office
We own approximately 5,000 square feet of office space in Thorold, Ontario which serves as our corporate headquarters.

And from the 2010 10-K:
1. Head Office
On June 7, 2010, we purchased a building in Thorold, Ontario to be used as our corporate headquarters. The building was purchased for CDN$380,000, with a CND$100,000 down payment. We then entered into a 5-year mortgage for the remaining CND $280,000, bearing interest at 7% per annum, calculated semi-annually.