Plastic2Oil Inc (PTOI)

[loanranger]

When the faulty accounting finds its way into the text and management doesn't take action to correct it before publication something is VERY wrong, especially when the mistake(s) are this glaring:
"We incurred net income of $755,667 and $352,361, respectively, for the three and six months ended June 30, 2017 as compared to a net loss of $613,210 and 1,282,760, respectively, for the three and six months ended June 30, 2016."
As noted previously, the figures that are being described as "net income of $755,667 and $352,361, respectively, for the three and six months ended June 30, 2017" are actually NET LOSSES. Simple math mistakes happen every day in accounting and in SEC filings. When mistakes like this one occur...representing MATERIAL Losses as Income, not only in the financial statements but the text, it's impossible to believe that management wasn't aware of them unless they certified them without reading them first.

BTW the above isn't the only mistake in the filing, but it's by far the most inexplicable.

This doesn't just warrant an amended filing, it cries out for an explanation. OTC company executives here and elsewhere are known for their failure to execute on the expectations they raise. This isn't that...it's worse. The stupidity of it is the only plausible argument against it being fraudulent.