Plastic 2 Oil Application
Development Agreement Rights and Financial Commentary Disclaimer
This letter is intended to help you better understand some of the important points of our process in selecting
joint venture candidates for Plastic2Oil (“P2O”) and to avoid misunderstanding on a few key issues.
Unless and until you and we have signed a binding written Agreement for the development or joint venture
of a P2O location, you have no rights to develop or operate a P2O system. This holds true despite the fact that you
may be required to make a reservation deposit, incur costs or expenses investigating potential opportunities in our
system or that we may have discussions about various potential transactions with you or enter into a non-binding
letter of intent. We are not responsible for any such monies you expend in this process. Additionally, no one is
authorized to make any representation to you that you will have any rights to develop or own stores in our system
without first having a written Agreement fully executed by both parties.
Plastic2Oil, LLC reserves the right to negotiate with other potential candidates at any time for any portion or
all of the opportunity you may be interested in and to enter into a definitive agreement with such third party for a
transaction involving all or a portion of the opportunity you are reviewing, all without prior notice to you or other
prospective buyers. Plastic2Oil, LLC reserves the right to terminate, at any time, further participation in the
investigation process by any party or all parties, to modify any of the terms, duties or procedures, without prior notice,
or to terminate the process contemplated hereby, for any reason or no reason. Plastic2Oil, LLC reserves the right to
take any action, whether in or out of the ordinary course of business. Those decisions will be made on a multitude of
criteria and are not related in any way to the sequence in which interest may have been expressed on the part of any
particular entity or individual.
Furthermore, we request that joint venture prospects develop on their own and share with us their
organizational, training and marketing plans (collectively a “Business Plan”). This plan typically helps a prospect to
conceptualize the start-up and on-going operations of the business. In the Business Plan we also request that you
provide other information, including financial information or projections such as pro formas and break-even analyses.
Although we may review the Business Plan with you, we do not validate, approve or disapprove such plans.
And while we may review internally your financial information or projections to help satisfy us that you have the
capability to prepare financial documents, we do not review them with you or validate, approve or disapprove them.
While we may suggest to you that you gather additional financial information, our failure to comment on your financial
information shall not be construed in any way as our approval of or agreement with your financial numbers.
Success in our business is speculative and depends to an important extent upon the ability of the joint
venture partner, and we make no representations regarding your prospects for achieving a certain range or level of
sales or profits. In fact, no Plastic2Oil, LLC representative is authorized to comment on your financial information or
projections other than to urge you to compare your financial information with the numbers contained in the Plastic2Oil
Disclosure Document, and with any numbers that you obtain from existing Plastic2Oil licensees. Your potential
lenders, if any, may require other information.
Additionally, please be advised that if an agreement is reached on deal terms and final documents are then
prepared and presented to you for execution there will be no additional discussions on terms, conditions, or
negotiated changes to those documents.
Please note if you are approved as a joint venture partner and we agree to enter into an agreement
with you, there are limitations on the words and letters that you may use as part of your entity.
In order for our process to continue expediently, we request that you kindly sign and return this letter to the
Plastic2Oil, LLC executive working with you on this opportunity. Acknowledged and understood by:
Date:
Name of Candidate
Signature of Candidate
Plastic2Oil - Work History
Date
Name:
Social Security No.
EDUCATION
Name and Location
Year Graduated
Major or Degree
High School
College
Graduate or Professional School
PERSONAL REFERENCES
Name
Telephone Number
Association
1.
2.
3.
BUSINESS EXPERIENCE/RESUME
Work history and/or business started. Please give present or last position first, and provide the last 10 years of work/business
history - attach an additional sheet or biography if necessary.
1. Company
City, State
Type of Business
Employed from
to
Position
Major Accomplishments
May we contact this company? ?Yes ?No Contact Person
Telephone
2. Company
City, State
Type of Business
Employed from
to
Position
Major Accomplishments
May we contact this company? ?Yes ?No Contact Person
Telephone
3. Company
City, State
Type of Business
Employed from
to
Position
Major Accomplishments
May we contact this company? ?Yes ?No Contact Person
Telephone
Return to Plastic2Oil XXXXXXXXXXXX
or by email to: XXXXXXXXXXXXXXXXXX
Plastic2Oil Financial Worksheet
Our minimum financial requirements have been established to help ensure you will have the cash flow and capital necessary to
start a new business. These minimums may vary depending on the geographic markets we would like to pursue and the
markets being developed. Please complete the following Financial Worksheet and return to Plastic2Oil along with
verification of all assets.
•Liquid Assets: We require recent bank statement, brokerage statement, money market statements, etc. Defined as
cash in a bank or other assets that can be converted to cash within 30 days such as publicly traded stocks and bonds
or money market accounts.
•Accounts/Notes Receivable: We require an audited financial statement (accounts Receivable) or executed
promissory note (Notes Receivable).
•Real Estate Value/Liens: For Value: we require a current county, city , municipal or town property tax bill or a recent
property assessment/appraisal provided by a certified property assessment/appraisal company. For Liens: we
require a recent loan statement showing principal balance.
•Business Value/Lines: For Value: we require an audited financial statement of your company or copies of your
company's tax returns for the past 2 years. For Liens: we require a recent loan statement showing principal balance.
If you are pursuing this venture with a partner(s), please have each partner submit a Financial Worksheet. Married couples may
complete a joint Financial Worksheet.
Liquid Personal Assets
Non-Liquid Personal Assets
Cash in Banks* $
Accounts/Notes Receivable* $
Investment Accounts* $
Real Estate Value $
Stocks and Bonds* $
Real Estate Liens $
*Please indicate any portion being head as security or collateral $Liquid Business Assets
Non-Liquid Business Assets
Cash in Banks* $
Accounts/Notes Receivable* $
Investment Accounts* $
Real Estate Value $
Stocks and Bonds* $
Real Estate Liens $
Please include verification of business ownership percentage (operating agreement, K-1 statement, etc.)
*Please indicate any portion being head as security or collateral $
By signing below, I/we certify that the above information is correct to the best of my/our knowledge.
Candidate Name(s)
Candidate Signature(s)
Date
Return to Plastic2Oil by XXXXXXXXXXXXX
or by email to: XXXXXXXX
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