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They announced it themselves! They are under investigation by the SEC!
On November 10, 2014, the Los Angeles Regional Office of the Securities and Exchange Commission (the “SEC”) notified the Company that it is conducting an investigation pertaining to the Company and issued a subpoena to the Company for documents from December 1, 2011 to the present relating to the matters it is reviewing. The Company plans to cooperate fully with the SEC staff to complete the investigation on a timely basis.
Wait, so MDBX is lying in their own filing about being under investigation by the SEC?
Buy more PTOI stock instead! It's only $.07 and the wonderful 10Q is due Friday! Engineering firm!!!!
LOL!
LOL he's going to owe someone a refund!
Why did they spend so much shareholder money on them in the first place (double market value at the time for both)? Who got that money?
So the Wells Notice rumor is true?
FIRST OF ALL WHO WOULD SELL @ THESE RIDICULOUS PRICES WHEN ALL THIS NEWS AND UPDATES ABOUT TO COME OUT.
Except that would be illegal.
I feel some huge news coming.
We can agree there. 9 million shares didn't get dumped so far today for nothing.
It's relative. It certainly doesn't take a full year or otherwise they wouldn't be required annually. If the books are in order it can take a few weeks.
It doesn't take very long especially when the numbers are real. Hundreds if not thousands of legitimate public company manage to publish them every year.
Scammers lie so openly here. They don't even make it hard.
You're making that up.
A Wells Notice would explain it. So do Foley's legal bills.
Foley has lawyers to pay.
Some very bad news must be about to come out.
http://jbiglobal.blogspot.com/2010_04_01_archive.html
Well considering that I appear in two of the pictures featured on that page from the 2010 AGM... you can bet your house that I'll be at the next one whenever it is. Like a Q-tip on a Televuesion. [<-- that was secret MM naked short code]
"JBI shareholders congratulate CEO on fantastic AGM"
Isn't that inspiring?
Will there be an AGM this year?
Why not?
What's the excuse for not having a shareholder's meeting this year? Is that even legal?
Are you trying to tell me that a brokerage firm can deny filling an order for their client when the shares that client wants are offered for sale by a market maker at a price he is willing to pay?
Since I am the one who said I went to a meeting with TelVue in an effort to represent the shareholders of TelVue I was wondering if you were calling me a liar.
The point is to run out the clock by blaming everyone else except John Bordynuik so he and his inner circle can walk away with whatever shareholder money they still have squirrelled away.
JBII/PTOI has been out of business for over a year now.
And I believe he is now doing about 11 years in a Federal Pen. The SEC takes no prisoners.....
How will they pay him in cash? That many shares have to be sold to generate the $$$ they owe him whether that stock goes directly to him or not.
It's no longer debatable whether Bordynuik defrauded Seneca. He wouldn't have settled otherwise.
Insurance won't cover a fraud settlement nor would any insurance company allow a settlement if Bordynuik was innocent - they would demand a trial before giving up their money.
Heddle may very well be issuing Steve Seneca over 10,000,000 shares of free-trading stock in the coming days/weeks. How long do you think he will hold those?
It looks like more massive block sales are being arranged prior to next week's 10Q.
PPPS -- statute of limitations means there is no "playbook" for more 2009-related suits. Buh-bye to them.
So running out the clock has been the plan? "Ha-ha! The joke is on those who believe stock promoters!"
I disagree about the statutes of limitations (since the fraud is still ongoing as I type) but we'll see soon enough.
Wouldn't it be better if the company was just honest? For once?
Instead of depending on anonymous people spreading rumors on the internet?
100,000 shares for sale at $.08 a week before the 10Q. I wonder what they know that the rest of us don't?
PPS -- decommissioning "some" of the fuel tanks and none of the processors doesn't sound like plant shutdown to me.
Boots-on-the-ground report 20 Iroquois is now abandoned and the DEC can't even get a response about the secret 5-month old environmental disaster caused by the company last April. 1,000 liters of spilled used oil is not a small thing. Expect decent fines there, especially after not cleaning it up.
Yes he is. Who else? All the other comments about it were derived from his post. Sound familiar?
Isn't it 4 days to announce a material event? I could be wrong.
Since they haven't had $200k to repair the machine for the past year any outlay of cash to Seneca could very well trigger bankruptcy. Paying a settlement with millions of shares of stock that will then be sold immediately... well... either way both are very material events.
The 8K from the company is due today, right? $1.5 million is my guess.
So the engineering company is as real as the healthy report from the DEC. Got it.
The solid-waste department of the NYSDEC and Albany staff were in attendance at the Plastic2Oil® site for an unscheduled inspection in June 2014. The resulting inspection report confirms the Company is fully compliant.
How misleading is that? They had a spill in April that we only learn about now and it still hasn't been cleaned up.
Most notably, the Company is working very closely with a highly regarded national engineering firm and its clients to complete sales of processors, which such firm is currently qualifying the JBI 'Flagship Processor' for sales to its clients. The Company intends to focus on the technology, develop unique feed systems for customer-specific requirements, and to manufacture the core processor components. In addition to its sales assistance, Company Management anticipates having the engineering firm install, operate and maintain processors as well as provide all auxiliary support systems. This will enable Management to focus on potential customer implementations. The Company has refined its 'Flagship Processor' to commercial ready standards and it is ready for sale.
The company keeps the identity of the *engineering firm* a secret despite the many claims that it's "public domain".
They'll need more used-oil storage? That's what was in those tanks.
#3 is the one that's been broke for a year now, right?
No matter, the DEC says it was used oil that was spilled from those tanks.
LOL! Maybe the *prox* are being installed on Capt Mike's boat as we type!!!
This has always been one of Joe Canouse's private ATM machine scams.
Was 250 gallons of used oil last April.
I guess that finally settles the mystery of those boots-on-the-ground photos showing a tanker delivering used oil to those tanks instead of finished product being sold.
I wonder how that person knew to be there at just the right time?