Plastic2Oil Inc (PTOI)

[micham2012]

I spoke recently with JB. I called investor number (Katie) and he answered. If I understood him correctly:

1. The purchase of the chemical company is waiting on financing. I don't know if a commitment still needs to be secured, but I got the sense that the deal will not close by tomorrow. Incidentally, JB also said that he would be contributing more of his shares to treasury. But the chemical company is not being purchased with treasury shares, and my sense is that financing is still an issue.

2. The part of the processor held up in customs was caused by the inclusion of gloves with asbestos content along with the processor part. This caused Canadian customs to go over the entire shipment with the proverbial fine tooth comb.

3. JB was reluctant/unwilling to give me a sense of the volume of tapes being read, considering it information that should be the subject of a PR. He did note that he made an upgrade to the tape reading process, and my sense from that is that the company has not been reading tapes continuously since the last 10Q.