says, "Companies that trade on the OTCBB will require Cash/Cheque. "
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I think this go-round
Heddle has extended his middle finger in the general direction of shareholders.
Thanks for playing!
Battery operated LED lights done right
https://www.mrbeams.com/about-us
Pretty much mirrors Stewart's time with CHDT/CHDO/CAPC.
Private company, so I don't know how big they got before they were acquired by Ring.
Check out their tech.
Take Up a Collection Day
I figure it will take about 189 million Plus1 coins to satisfy Heddle's two notes, due today (about $5.4 million worth).
Maybe we get a two-fer
An 8K to extend the Veridisyn sham deal another 90-180 days, and also push out the impending doom of Heddle's notes due on 12/1/2018 (about $5.4 million worth).
Or, this is IT. No more extensions, notes are due, that is all, thanks for playing.
RPG101 ... wasn't that an insider at TRTN/JBII/PTOI?
I seem to recall maybe a programmer there?
Remember to thank Dick Heddle and Lee Brain and Jason Aspin for letting another extended deadline expire without a word.
Sham deal. Like the Econavigation deal before it.
Designed to keep you hanging, while all the statutes of limitations on fraud expire.
After not running it for a couple of years, and writing down the assets to ?nil?
they gave the assets to Bordynuik to offset some debt.
Win/Win?
Bordynuik gets some more NASA cash
https://govtribe.com/award/federal-idv-award/blanket-purchase-agreement-80gsfc18a0002
Well, on the one hand, we have one recent press release saying Wallach is the CEO.
Then, on the other two hands, we have two government agency filed documents that show McClinton as the CEO (sec.gov and sunbiz.org).
Even murkier, the press release links the information in the sec.gov 8K.
I wonder out loud why this company never really succeeded.
Not to themselves.
Unless all the current SOUPQ holders get reversed split into oblivion as a part of the reverse merger...with substantially all the equity going to those in the private company; that is a possibility, I guess.
Hmm, let's see.
Stay private and keep 100% of the equity, or reverse merge into a liquidated shell, and give up more than 50% of the company equity.
Seems like a no-brainer.
Nowhere in that PR does it mention SOUPQ.
Just Gallant Brands, and the Original Soupman.
They bought the assets, but not the ticker. Original Soupman was a trademark that was bought.
Is the ticker even on the new soup boxes?
If you own the stock, you own a write-off, nothing more.
Should they feel the need for investment capital
I'm sure they'll eventually IPO, get a great influx of new money, and keep the bulk of the new shares for themselves.
Then run those new shares up with profits and growth.
They bought SOUPQ shares in order to take over control of the company. Their plans changed. Instead, they bought the assets out of Chapter 7 liquidation.
They will write off the shares of SOUPQ for tax purposes, my opinion.
They are going to sell their SOUPQ shares to their broker for a token $1, to take the tax loss on the purchase of shares in a liquidated shell.
They are worthless (the shares of SOUPQ).
Hagan and Wealth Colony already own 100% of Soupman; why would they want to share a portion of it with the holders of the liquidated shell?
8/29/2018
Five years since Heddle's first 5 year note payable. $1,000,000 plus interest, due today.
Another $2,000,000 5 year note due 9/30/2018.
Total due on those notes: a bit over $5 million.
Are we all pleased that Heddle wrested control of PTOI, and proceeded to shut down all activity just a few months later, to conserve his cash?
I know I am.
Beyond curious how far out Heddle extends these notes.
Good luck with that, U
Examsoft also wrote the Secret Diary software too, right?
Capstone is not the kind of company I think of when I think of tablet computers.
How many down quarters will we see before this tablet sees the shelf of a retailer?
No, seriously, good luck. I think it's going to get worse before it gets better, stock price-wise.
It is however, the most likely product that will eventually get sold.
Connected Surfaces is another Secret Diary or Silicate Electrolyte JumpStarter.
Capstone is not a software house; they resell chinese made goods.
Products and Customers
The Company has expanded its product positioning through the introduction of more indoor and outdoor lighting programs under the "Capstone Lighting®", Hoover® Home LED and Duracell® brands and include the following products that are reported under one segment: Lighting Products:
·
Wireless Remote-Controlled LED Accent Lights
·
LED Under Cabinet Lights
·
LED Vanity Mirror
·
LED Gooseneck Lantern
·
LED Dual Mode Security Light
·
LED Solar Patio Lights
·
LED Motion Sensor Lights
·
LED Wall Utility Lights
·
CPC Power Failure Bulbs
·
Wireless Remote-Control Outlets
https://www.sec.gov/Archives/edgar/data/814926/000093980218000048/form10q063018.htm
Bull,
When will the wifi power switch finally hit the stores? 3rd or 4th quarter 2019 for revenue?
That's a long time to wait to see profits again.
3rd Q2018, 4th Q2018, 1st Q2019, 2nd Q2019 .... can we expect to see continued losses? That's going to put them right back in the hole.
~1 million per quarter in expenses with ~20 percent gross margin implies a 5 million dollar breakeven revenue figure. Can they do that with battery operated LED lights?
CPC bulb was a bust. Secret Diary was a bust. STP tools were a bust. Simply Comfort Pillows were a bust. Generators...roofing tiles....well, you get the idea.
LED lighting makes good money, especially around Christmas time, but it's not an ongoing money maker.
In my mind, two things detract from the LED business: Battery operated, and the generic LED tech they incorporate.
Stocking stuffer products.
LED lighting is a money maker, is the present, is the future. But consumers want quality (Cree LEDs or similar), and battery operated connotes: toy.
So, we wait for the Next Big Thing: wifi connected power switches.
In my estimation, they've already missed the boat; it's a crowded marketplace; software will determine the winners/losers.
Check out Stitch on monoprice.com. Competition.
It Ain't Pretty.
2.1M revenue? 360K gross profit?
Heddle's no stooge.
He won't restart production. Too much out-of-his-pocket money.
And money losing with every gallon produced. Even with free trash plastic/HTFluid.
Filings support this fact.
PTOI only made money on a Gross basis when they hid the real cost of production behind the cardboard recycling business (which actually made money on a gross basis).
"Plans to" is a well known penny stock dodge.
I'd be concerned this latest 'outbreak' was staged.
Hope they investigate each complaint fully, and correlate with recent short sales.
The timing is a bit suspect.
I think if you go to a lawyer and find out what courses of action are available to you, you probably will find the statute of limitations for any fraud committed have long since expired.
Heddle played the long game. Your losses are probably not recoverable from those that took your money.
As always with legal issues, consult (and pay) a real attorney for advice.
Can we assume August 18th will pass without a check from Veridisyn?
240 days not enough to close the deal? (Actually, the 'deal' has been cooking for almost 2 years now, if you follow the press releases back to August 2016).
Why else would PTOI need cash infusions on 8/24/2018, 9/24/2018, and 10/24/2018 (Mr. Brain's further loans).
$2 Million is not enough?
Heddle/Bordynuik don't want the blending site
I'm sure it's a money pit. Bordynuik was happy to buy it off his relatives, refurbish it so that it could sit there and do nothing (all paid with shareholder dollars). Where did all the money go... can't tell anything without a forensic accounting program... Get your Programs Here!
Bagged another $50K from Leaky Brain. Blending Site: the gift that keeps on giving.
I draw your attention to this OTCQB Certification posted by CEO Richard Heddle:
https://backend.otcmarkets.com/otcapi/company/financial-report/194716/content
Signed and dated by Richard Heddle as of 5/30/2018.
Note this section:
I, Richard Heddle, President and Chief Executive Officer of Plastic2oil. Inc. (“the Company”), certify that:
a. The Company is registered or required to file periodic reporting with the SEC or is exempt from SEC
registration as indicated below (mark the box below that applies with an “X”):
[ X ] Company is registered under Section 12(g) of the Exchange Act
[ ] Company is relying on Exchange Act Rule 12g3-2(b)
[ ] Company is a bank that reports to a Bank Regulator under Section 12(i) of the Exchange Act
[ ] Company is a bank that is non-SEC reporting but is current in its reporting to a Banking Regulator
[ ] Company is reporting under Section 15(d) of the Exchange Act.
[ ] Company is reporting under the Alternative Reporting Company Disclosure Guidelines
[ ] Other (describe)
b. The Company is current in its reporting obligations as of the most recent fiscal year end and any subsequent
quarters, and such information has been posted either on the SEC’s EDGAR system or the OTC Disclosure &
News Service, as applicable.
Then also note this filing on 5/15/2018 by Heddle:
https://backend.otcmarkets.com/otcapi/company/sec-filings/12758864/content/html
OTC Markets is a joke. Pay your fees, and you can certify anything you want, without ramifications.
Friday marks 45 days since the 10Q was due.
Anyone see a CFO yet?
OTCMarkets graciously allows a 45 day 'cure' period for those late with filings.
Pushed, they probably will allow more, if they're sure they can get their annual fees out of PTOI. (Remember when it would have been called PTOIE, because of failure to file? Pepperidge Farm remembers).
Downlist x 1 coming? Maybe. Maybe not.
Also, August 18th is the extended deadline for Veridisyn to cut a check Paid to the Order of PTOI (Heddle, really).
That deal has only been cooking for a bit under two years now. I expect another extension...maybe one that takes us past the New Year.
2014 AGM, Anyone?
1) The asset purchase agreement specifically excludes the equity (stock) of SOUPQ - spelled out in black and white.
2) To 'take over the corporation', they'd need a controlling stake (over 50%). They don't have that.
3) You can't 'buy' a ticker as an asset. SOUPQ doesn't 'own' the ticker.
SOUPQ share equity represents ownership in a liquidated shell.
The shares are worthless (or whatever you can convince someone they're worth, as long as they keep trading).
They won't trade forever, keep that in mind.
You said Wealth Colony just filed a 13d/a saying they hold 70 million shares.
I showed you a Form 4 showing they held 84 million as of June 2017.
They've sold 14 million shares in the last year? That doesn't sound like they are accumulating, no?
Got a link to your 13d/a?