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Crickets, listen for your crickets...
Fascinating!! What a case study in human behavior PTOI is. Just fascinating. PT Barnum could not have been more correct. Almost makes me sad for the human race. Utterly fascinating!
"Was Hans Brost one of the recipients of the shares that Bordyniuk illegally funneled through his children's trust?"
I fully expect to know the names of ALL recipients of illegally funneled trust fund shares Bordy transferred. I would also like to see criminal charges brought against all.
WOW WOW WOW! .0731 CENTS per share. This trial must be blowing the lid off PTOI shareholders caviar dreams with how successful it is seeming to be! That is what I call 'Blowing the F up' as some so eloquently stated for years. VOLUME IS SURGING!
Everyone stay safe out there and enjoy your day.
"So the trial is likely another failure to add to the list." Ahh, herein lies the answer. There never was to be a trial. It was all another ruse to keep the faithful, faithful for more time. It is obvious that with no activity at the plant, no volume or stock movement, and the ONLY conversation being discussed on this thread is 'trading patterns', NOTHING is happening. The can continues to be kicked down the road. We will be regaled with a new carrot during the first week in May. Everyone again will shout out with glee! Hail the savior of P2O. I now go back to the real world. Have a great day all.
Thanks for that nice clean dose of reality. Simply put, the folks still drinking the juice do not want to read it. They would rather blame the phantom naked shorters and the evil market makers who undercut 'legit bids by .001' and cost hungry accumulators of the stock a whole $1.12 on 5000 shares. Yeah, I get it!
>>CONnect the dots and >>>err spot the obvious
- compliments of "The Penny Shill"
The guy who founded the company, and who spent five years running the company, and who claims to have invented the technology that the company is currently trying to commercialize, was sued by two different regulatory agencies in two different countries for fraud. Both the SEC and OSC fined, suspended, reprimanded, and gave him 5-yr officer/director bans.
Remember now, this is the guy who claims to have "invented" the company's "technology". He claims to have accidentally found a revolutionary catalyst while recovering data from a 1970's magnetic tape. He founded the company on this claim - that this revolutionary catalyst that somebody just forgot about, would allow him to be the first human in history to not only make pyrolysis profitable, but to make it so wildly profitable that it would make him and all his investors mega-rich.
Under Bordynuik, the plan was to earn billions of dollars by using his revolutionary technology to turn plastic into oil for a total cost of of ten bucks per barrel, and sell it for three bucks less than the going price of West Texas Intermediate.
Under new management, the company recently changed it's plan to selling the revolutionary processors, designed and conceived of by John Bordynuik (or so it is claimed) for millions of dollars each, instead of running the processors themselves and selling the oil.
Here are the >>>dots to >> CONnect.
Dot 1: Bordynuik is a repeat liar and fraudster, publicly admitting to lying to investors and committing securities crimes as part of his OSC settlement.
Dot 2: Bordynuik claims to have found a revolutionary catalyst that had been lost on a 1970's magnetic data tape, that would allow him to revolutionize pyrolysis and make all his investors mega-rich.
Dot 3: Company loses $65M over next five years, never abandoning it's claims about a revolutionary catalyst and ten buck oil.
Dot 4: Company never manages to demonstrate profitability, let alone the +85% profit margins claimed by company since its inception, yet never abandons its claims about ten buck oil and +85% profit margins.
Dot 5: Company changes plan to selling processors that John Bordynuik "designed". Yet John Bordynuik has no education, training, or experience remotely related to anything like this, let alone any track record of being capable of revolutionizing an industry.
So you tell me, which option would a reasonable person looking to invest in a company choose?
Option-A: A penny stock that has lost 99% of its value over the last few years, and that has failed to do anything resembling an actual business after six years and $65M, who has accumulated a couple of fraud charges, and sold itself on a ridiculous story about a revolutionary catalyst that somebody just forgot about?
Option-B: A company that has a credible story and that has so far avoided being charged by two regulatory agencies for fraud?
Keep in mind, before you answer, what Option-A entails. It relies upon selling an unpatented "technology", designed by a college dropout who has been twice prosecuted for fraud, for millions of dollars to people who have money and lawyers at their disposal.
Savings on toilet paper- down to 2 part time employees and going to Scott's industrial from Charmin ultra soft will also save $492.55 this year alone!!!
$65 MILLION in investor money is old news and the company has moved on from that!
Unreal how these investors assuage themselves with visions of grandeur. Never seen anything like it in my life!
"Where did all the investor money go?"
Not even pennies and pennies being traded on this POS today, ROFL
Re: $Billions and $$ Billions.
Think big....think Billions.
More importantly,some folks need to fabricate the spin as to why things went so wrong and which boogieman is responsible.
Rut Ro- 1714 shares traded moved the stock down 20%, a whole 139 shares did that. Man we are all doomed, doomed I tell ya! ROFL
And to "connect electronic breadcrumbs" known via 'public domain' versus-
The company has sold X number of processors to Y company for Z $.
Not 'payable within 18 months upon completion of trial completed when pigs fly and crap bacon out their ass'
What REAL WORLD are we talking about? I have never seen more garbage come out of one company and get this, it is all believed!!! UNREAL
Fool me once, shame on me. Fool me 142 times, call me a current LONG PTOI investor!
Sorry 4k. What PTOI management files next cannot ever be trusted. After supporting and watching the lies for 3 1/2 years, I learned a lesson. Nothing ever materialized from any 'deal' announced. At a certain point we all must call a spade a spade. This was an elaborate stock selling scam that duped a lot of good people. I look forward to seeing civil and criminal justice for it's perpetrators. Best of luck to you! DZ
Nor will they buy anything...EVER!
Update: No filing showing $15million in P2O coffers.....no financial gain.....no sales have occurred.
Nobody has actually bought anything.
LMFAO.
As a former Director of a public company myself, it is sad to see the psychology in play here. This is a TRUE SCAM based on lies and deception. Folks that are hanging on and not selling to 'save the loss' on their account statement have buried their heads in the sand as to the REALITY of this stock issue. I look forward to the day when these con men must pay for their civil and criminal activities. That includes the 13 trust fund recipients.
Relentless! I Love it, keep up the great work retiredptt!
Thank you JC!
Jcoukr- It seems you may have the smoking gun to help bring down the weasel who has laughed at retail and their losses in his con game for far too long. I would be glad to join you in towards taking Bordy down for securities violations. I know my $11k does not compare to what many lost here, however it is the principal. Knowing I could have sold for $40k does not help either. I am with you my man! DZ
I smell a reset coming on!!:)
What an embarrassment:
Plastics Industry Executive Greg Wilkinson calls it 'Liquid Gold'. Mr. Wilkinson is now a PTOI Shareholder and attended the 2012 AGM!
Some have no shame or ends to promote in their own interest.
Nice full court press retiredptt.
Let's see if it attracts a response? Got my popcorn and am ready for the show. I want to see names of all 13 beneficiaries of the restricted children's trust account managed by Momma Bordy.
"First and foremost where does a shell company run part time by a person who operates a small medical device company and an out of work ice cream scooper come up with 15 million dollars and why have reputable venture capitalists totally ignored this instead for the last year and a half ?"
THIS IS THE TRUE ESSENCE AS TO WHY THIS IS A SCAM!!
Ahh, the simple facts if only all would see the reality
Having admitted I lost $11k in this scam did help me move on. I wish a few friends with more invested that I had gotten out and I feel bad for them with more skin in the game than I. I was never one to 'buy and never sell'. I took some off the table, sold some, got stopped out (most of my loss)and finally said, I am smarter than this and dumped all the rest at a loss and said, what the F am I doing in this scam?
Blessed that I have recouped from this speculative money scam in this great bull market. Others not as fortunate and for that I feel bad for them. I truly do hope criminal charges come to be for John B and the 14 children's trust fund associates. That would be sweet justice for me to watch. Have my popcorn and enjoying the entertaining show now.
A NICKLE is what I vote for now. I got my money on you Jefferson!
"I guess anyone still believing they hype gets what they deserve."
Or should you say deservinginginging. ROFLMFAO
Let the carnage begin. No mercy being shown on this bogus 'contract'. They reap what they sow.
OK, who's turn is it to supply the paint for the tape today??
And of that paragraph, this line is the MOST intruiging-
"or upon the other party’s bankruptcy or insolvency."
What company places this sentence prominently in a 'new' agreement.
A forecast of known events to come to 'pass'?
Someone please call the SEC/ OSC and put this patient out of it's misery or in other words, stop the fraud from continuously perpetuating itself.
And if this is public knowledge, how are these individuals not in prison for securities fraud by now? This is really getting good if comments are true excerpts of documented conversations! Thanks
Because he wanted to play the 'duped stooge' card as opposed to the knowledgeable participant?
"thinking something is about to blow here"....
Right, something has been blowing here for a very long time.
I'll take PTOI is not a scam for $108.85 Alex (That's 1555 shares at 7 cents each for those scoring at home). That is some major league hitter. OK, back to work, play time is over.
Quote:what is more revealing to me is where funds were allocated
Compensation last quarter $617,594
Assuming that Heddle is drawing the same as Bordynuik, and removing that from the quarter for 'deferred' pay it ....
....leaves the 9 other remaining employees with an average salary of over $200,000 per year each !!
Pretty good 'allocation' for a company that has produced nothing the whole year.
Beyond revealing actually...and actually pretty disgusting.
AND NO FUNDS TO FIX SAID PERFECTLY WORKING PROCESSORS TO BOOT!!
Very revealing of where funds were allocated indeed, new CFO , ahem, ahem, one last hurrah on the merry go round for a quick score as well.
PTOI website actually states-
Website last updated: August 26, 2014 (4 MONTHS AGO)
Crayola COLORCYCLE
JBII is pleased to announce its participation with Crayola in its COLORCYCLE program, converting markers into clean energy. More (PTOI AGREEMENT TERMINATED MONTHS AGO EVEN BEFORE THE NAME CHANGE)
Processor No. 3 Online (PROCESSOR IS BROKEN, HAS NOT BEEN RUN IN 14+ Months)
Great company here!!!
Nice!! They are UP .0001 of a penny. On a $100,000 investment, one would be up $10 or .16% Weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
Because everything about PTOI screams credibility, folks are planning to sell their tangible assets (cars, mortgaged homes, boats) to buy more PTOI stock under a nickle per share. NOW THAT IS THE POST OF THE YEAR!!
8k ROFL
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): November 24, 2014
PLASTIC2OIL, Inc.
(Exact name of registrant as specified in its charter)
Nevada 000-52444 90-0822950
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
20 Iroquois Street
Niagara Falls, NY
14303
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (716) 278-0015
N/A
--------------------------------------------------------------------------------
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
--------------------------------------------------------------------------------
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Section 8 — Other Events
Item 8.01 Other Events.
On November 24, 2014, Plastic2Oil, Inc. issued a letter to stockholders from Richard Heddle, its Chairman and Chief Executive Officer, which provided an update on certain operational and financial matters. A copy of the letter is attached as Exhibit 99.1 hereto and is incorporated by reference herein.
The information in this Current Report is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, except as shall be expressly set forth by specific reference in any such filing..
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The exhibits required by this item are listed on the Exhibit Index hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Plastic2Oil, Inc.
November 25, 2014 By: Rahoul Banerjea
Name: Rahoul Banerjea
Title: Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Description
99.1 Letter to Stockholders.
--------------------------------------------------------------------------------
Letter to Plastic2Oil Stockholders from Richard Heddle,
Chief Executive Officer
To our valued Plastic2Oil (OTC: PTOI) stockholders:
I thought it was important to take a moment to reach out to you directly, as we have been extraordinarily busy behind the scenes implementing the shift in our business strategy, which focuses on the sale and licensing of our proprietary processors, as opposed to exclusively processing plastics and selling fuel.
As you may know, on November 20, 2014, we filed Form 8-K covering our recent financing, and on November 14, 2014, we filed our Quarterly Report (10-Q) for the third quarter of 2014. I encourage you to read the 10-Q closely and to contact our investor relations representative with any questions that you may have. Following the discussion of our business operations in the 10-Q and the recent filing, we received feedback that some stockholders are seeking more information on the current state of our business. To those stockholders that contacted us about this, I thank you for the feedback. Let me address some of the items raised.
We are working hard to move towards profitability, but we recognize that the movement of the stock has been disappointing for all of our stockholders, including myself. As you may be aware, I currently own 3,000,000 shares of our common stock and thus, my personal wellbeing and net worth are every bit as exposed to the fluctuations in our stock price as are other common stockholders. I want to remind everyone that I have not sold a single share of the company’s stock since I began investing in this company more than four years ago. Like many of you, I’ve invested at prices significantly higher than the current price. During my tenure as CEO, one constant has kept me motivated: I believe that if we execute the sale and licensing of processors, we will achieve significant revenues and the valuation of our company will increase accordingly.
As disclosed, I continue to defer pay and have extended substantial loans to the company while John Bordynuik, our Chief of Technology, has deferred pay, paid debts, paid for lab work, consumables, equipment, and assumed obligations approaching in aggregate of $400,000. We’ve done this so that we can continue our operations until we obtain adequate new financing and/or execute on our first processor sale. We have undergone several reductions in the number of our staff so as to retain only those personnel essential to our reporting obligations and for demonstration and sale of our processors to potential buyers. We plan to continue such cost control measures until we achieve our first sale.
We continue to believe that our third generation Plastic2Oil processor, which we call our “flagship” processor, is the most automated, green, viable, and technologically advanced process in the world for converting waste plastics into usable fuel and we firmly believe there is substantial market potential for the sale and license of our processors. In support of this, see an independent study completed last month by the American Chemistry Council:
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http://plastics.americanchemistry.com/Stand-Alone-Content/Economic-Impact-of-Plastics-to-Oil-Facilities.pdf
Although we have not yet consummated our first sale, we have made, and continue to make, tangible progress on negotiations with a large, national engineering firm and several potential purchasers. The company is also in ongoing discussions with a reputable firm that specializes in waste-to-energy solutions for large, established companies with government mandates and green initiatives. Furthermore, we have developed a “build & ship” turn-key product solution for our potential buyers. We are hopeful that our current negotiations will lead to processor sales and important strategic relationships; however, we cannot assure you as to whether we will be successful in making such a sale or as to the timing of any such sale. At this time, however, I feel it is important for stockholders to know that the company, despite its limited resources, is making significant progress with management’s financial support and leadership.
In light of the company’s exclusive focus on completing sales and licensing of our processors, we have temporarily suspended our plastic processing and fuel production operations at the Niagara Falls site. This being said, we have renewed our permits accordingly as our plan is to resume operations for the purpose of “showcasing” our processors once we execute a processor sale. Importantly, the temporary shutdown of the company’s plastic processing and fuel production operations has had absolutely no effect on the company’s ability to market our processors or negotiate with potential buyers. Another recent change was the decommissioning of several older fuel tanks, which were rendered obsolete by the tank farm we installed with Processor #3.
In my opinion, nothing worthwhile in the business world comes easy, especially when you’re trying to make a name for yourself in a relatively unknown emerging alternative energy market. As someone who started his career in a shipyard in 1987 and has built his own business from the ground up, I’ve faced odds that seemed impossible at times and I’ve persevered. I have invested a significant amount of my time and net worth into this company because I understand and believe in the product and its capabilities, and I truly believe that we can be successful. I remain relentlessly committed to pursuing success.
I appreciate your patience, commitment to the environment, and continued interest in Plastic2Oil.
Kind regards,
Richard Heddle
President and Chief Executive Officer
Plastic2Oil, Inc.
November 24, 2014
For further information about the Company, including its financial results, readers of this letter release should review the Company’s disclosures in its annual, quarterly and other reports which are publicly available on the website of the Securities and Exchange Commission at www.sec.gov
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About Plastic2Oil
Plastic2Oil is a clean energy company that is focused on delivering its proprietary plastic to fuel solution to green energy, recycling and waste companies. In spec, usable fuels including off-road diesel from our process help divert waste plastic from landfills. For further information, please visit www.plastic2oil.com
Forward Looking Statements
This letter contains statements, which may constitute "forward looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees as of 1995. Those statements include statements regarding the intent, belief or current expectations of Plastic2Oil, and members of its management as well as the assumptions on which such statements are based, including the expected timing of the Company's Form 10-K, execution of the proposed agreements described above and consummation of the transactions contemplated by such agreements. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Such risks include, but are not limited to: (1) Plastic2Oil has a history of net losses, and may not be profitable in the future; (2) Plastic2Oil may not be able to obtain necessary licenses, rights and permits required to develop or operate our Plastic2Oil business, and may encounter environmental or occupational, safety and health conditions or requirements that would adversely affect its business; and (3) Plastic2Oil may experience delays in the commercial operations of its Plastic2Oil machines and there is no assurance that they can be operated profitably. For a more detailed discussion of such risks and other factors, see the Company's Annual Report on Form 10-K, filed with the SEC on June 4, 2014, and its other SEC filings. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. The reference to the website www.plastic2oil.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this letter.
Contact:
Plastic2Oil, Inc.
ir@jbi.net
716-278-0015
I too look so forward to who the recipients of trust fund money are. Seeing them complete the walk of shame in cuffs will be so worth my price of admission to watch this show over the past 4 years.
"Most of it has been siphoned off into the pockets of John Bordynuik and the fifteen *illegal* recipients of the shares Bordynuik illegally channeled from his kids' Trust Fund.
No doubt recidivist liar Hans Brost is among that number. I >>just<< wonder who the others might be?"
Determined and motivated my ARSE! That would have been if they sold processors within 1 quarter. 16 months of silence- motivated and determined ROFL. The gullible and the more gullible. What a crock of SH*T he served up to keep the few hanging badholders happy. Really very sad.
"He's determined and motivated!"
What astonishes me is the fact that many 'investors' in JBI automatically dismiss the fact that in the real world, this company has not delivered even 1/10 of what they said they could do, executed upon one strategic partnership, or even completed one successful business plan without changing direction. It is a laughing stock of a company!
What astonishes me the most is the tremendous resistance JBII/PTOI has come up against (to THIS DAY!) in the industry, etc..... With emphasis on the 'etc'......z