is Getting ready to RUMBLE
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Bullshit-
He does not own 5% so does have to report on the OTCQB annual certification.
Verification Requirements
OTCQB Annual Certification
Each OTCQB company must post initial and annual certification on the OTC Markets website, signed by the CEO and/or CFO which contains the following:
The company's reporting standard (e.g. SEC Reporting, Bank Reporting, International Reporting) and brief description of the registration status of the company
Confirmation that the company is current in its reporting obligations to its regulator and such information has been posted either on EDGAR or the OTC Markets website
Name of the Law Firm and/or Attorney involved in helping the company prepare its Annual Report
or 10-K
Confirmation that the company profile on the OTC Markets website is current and complete
Confirmation that the total shares outstanding and in the public float as of the most recent fiscal year end
Names and shareholdings of all officers and directors, as well as beneficial shareholders who hold more than 5% of outstanding shares
http://www.otcmarkets.com/services/companies/otcqb/requirements
How many times over will those 1.7 million shares be sold?
Plastic2Oil via GlobeNewswire News Releases January 12, 2015 at 09:00 AM EST
Plastic2Oil Announces New Contracts for the Sale of Proprietary Plastic2Oil(TM) Processors and License of Plastic2Oil(TM) Technology
• Plastic2Oil has contracted to sell Plastic2Oil™ processors to EcoNavigation, LLC over the next three years
• Provided the terms of the contracts are met, the minimum gross proceeds to Plastic2Oil will be $15 million, as set forth in the Form 8-K filed January 8, 2015 with the SEC
• Plastic2Oil granted EcoNavigation a non-exclusive license of its technology and will receive a royalty of five percent of gross revenue from fuel sales
• Plastic2Oil will receive not less than $0.50 per pound for use of its proprietary catalyst
• Plastic2Oil will also provide on-going monitoring and maintenance services at agreed upon costs and rates
NIAGARA FALLS, N.Y., Jan. 12, 2015 (GLOBE NEWSWIRE) -- Plastic2Oil, Inc. (OTC:PTOI) (the "Company"), a clean energy company that manufactures and sells Plastic2Oil™ processors that convert waste plastic into liquid fuels and licenses related technology, is pleased to announce that on January 2, 2015, the Company entered into a series of contracts providing for the sale of six Plastic2Oil™ processors to EcoNavigation, LLC of Victor, New York ("EcoNavigation") over a three year period, and the non-exclusive license of technology and sale of its proprietary catalyst to EcoNavigation, as well as monitoring and maintenance.
The transaction with EcoNavigation represents an important milestone for the Company because its marks the Company's first sale of Plastic2Oil™ processors since the Company announced it was making a shift in business strategy from producer and seller of clean fuels to supplier of Plastic2Oil™ processors and related equipment, technology and services. Prior to the shift in strategy, the Company's Plastic2Oil™ processors had processed more than eight million pounds of waste and produced more than 700,000 gallons of fuel for sale to large industrial customers.
"We are very proud of this important achievement in the life of our Company. I feel that a successful deployment of our Plastic2Oil™ processors to EcoNavigation will validate management's decision to change course by focusing on processor sales and will set us on the course to profitability," said Rick Heddle, CEO of Plastic2Oil. "I want to take this opportunity to congratulate our entire team and to thank our loyal shareholders for their support of our business plan and their commitment to this important innovation that we have developed and commercialized."
Mark Ragus, CEO of EcoNavigation, said, "We are excited and proud to continue our commitment to the issue of environmental sustainability by licensing Plastic2Oil's unique technology. We sought out Plastic2Oil's process because we believe it is the most refined and sophisticated process of its type available."
"We are very grateful to EcoNavigation for selecting our Plastic2Oil™ solution and for its commitment to clean energy," said Mr. Heddle.
The Company also announced on January 2, 2015, that in light of the Company's achievement of this historical milestone, the Company's founder and Chief of Technology, Mr. John Bordynuik, has elected to resign. Management has requested that Mr. Bordynuik continue to support the Company as a consultant and discussions are ongoing. Mr. Bordynuik remains a significant shareholder of the Company.
"My goal in founding this Company was always to make a positive environmental impact while creating a community around our leading technology and corporate mission," said Mr. Bordynuik. "I'd like to extend my personal gratitude to everyone that has been involved with Plastic2Oil. I believe part of my job as founder was to get this Company to a 'jumping off point,' where it is well-positioned to reach the next level of commercialization. I look forward to continuing to provide consulting for the Company and any requested technical support or guidance."
"John Bordynuik has been the driving force and backbone of this Company for six years," said Mr. Heddle. "We are extraordinarily grateful for his contributions, and we look forward to continuing to have access to John's insights and ideas."
The Company believes that it is important to inform our shareholders about the reason and strategy behind entering into these agreements and information about the parties.
The primary business of Plastic2Oil is to sell Plastic2Oil™ processors to sites that need to purchase processors to convert their waste into a valuable commodity. This eliminates disposal and transportation fees. The market demands for recycling solutions like this increase when oil prices drop so at this time there is a lot of activity from potential future sites and partners. For example, when oil prices drop significantly, scrap plastic markets tend to shrink and companies seeking to dispose of scrap plastics are faced with significant disposal costs. So while these companies might typically receive approximately a penny per pound for the sale of waste plastic in a normal oil market, and perhaps payment of shipping costs, now these companies are faced with paying disposal fees of as much as $90/ton plus $500 per truck load. Plastic is not dense so the shipping costs are high.
The engineering firm that Plastic2Oil has been working with for over a year employs more than 1000 engineers and has significant experience in permitting, installing, and operating plants.
The Company's business partner, EcoNavigation, has significant experience in the business component of a plastic-to-oil solution. They have expertise in financing, project financing, and project management, deal structuring, and presenting a full project as a package while interfacing with the engineering firm. EcoNavigation has the knowledge base to acquire hardware and detailed technical information from Plastic2Oil and work on problem solving of unique feedstock, conduct certain proprietary lab testing, or monitor processor operations for efficiency. Furthermore, EcoNavigation may become the owner of some plants or package solutions with other technology companies in joint ventures, and work with clients to integrate Plastic2Oil™ into their existing facilities.
The combination of a seasoned business partner, a significant engineering firm and our Plastic2Oil™ technology provide the experience and support required to make an installation successful. Together, these three groups have the resources, knowledge and experience to work together to implement a solution at a client site.
http://markets.financialcontent.com/stocks/news/read/29045183/plastic2oil_announces_new_contracts_for_the_sale_of_proprietary_plastic2oil
Nah- I will just hold onto my truckload. Much much more to come imo.
PTOI- crossed the 50 day moving average 12 days ago. It is up against the 200 day MA. That is all before the 8k came out AH. This breaks .115 and it will be a major breakout.
I guess since I bought a ton in the .05's and .06's, I must have known something. Guess what I have been buying for years.
PTOI Stock TA- bullish
http://www.stockta.com/cgi-bin/analysis.pl?symb=PTOI&cobrand=&mode=stock
Oh I wish we good terrible 8k's like this at least once a week. A minimum of $5 million in sales of processors is extremely good for longs.
No I am implying there is more to come.
He owns shares and gets the big payday. He is going to work for the soon to be named engineering firm iMO. You know the one that will be selling, installing and monitoring the machines. He will be a consultant and actually getting a paycheck.
Yes- the yet to be named Engineering firm. The one one that will handle the installations and testing. Oh and more sales.
Yep- the PTOI 8k announcing $5 million to $10 million in sales came out after hours.
Now that is funny- $ 2.5 million per for something that costs $1.2 tops to manufacture. Plus, plus plus- read the 8k
That would be by time stamps.
So you have inside information on an investigation and are posting about it on message boards?
A trade close to .025 below the best closing bid. Pure manipulation.
So how does a targeted trade go off 17 minutes after the close?
Got any links about the main mouthpieces being under investigation? If not, pure BS.
PTOI Chart- looking very nice!!!
http://stockcharts.com/h-sc/ui?s=PTOI&p=D&b=5&g=0&id=p78418064277
PTOI Stock TA Bullish short, intermediate and long[\b]
http://www.stockta.com/cgi-bin/analysis.pl?symb=PTOI&cobrand=&mode=stock
PTOI trading details-
Trading Details for: Mon, Jan 5, 2015On symbol: PTOI
Total $ Volume Traded: 22272 # of Trades: 33 Days High: $ 0.1 Days Low: $0.091
TRF Volume Total: 223716 Trading Status: R CUSIP #: 72759R10
Exempt Short Volume: 0
Adj. Short Volume: 85850
PTOI Chart- looks better and better
http://stockcharts.com/h-sc/ui?s=PTOI&p=D&b=5&g=0&id=p17477875744
Who sued who? I believe that JBI/PTOI sued their insurance carrier/broker. Why would that be in a filing? Now if they win the monies would have to be accounted for in the Q and K.
Who cares about Hans Brost? Is he an officer of PTOI? No - is he an employee of PTOI? No- is he a director of PTOI? No- Other than a name in PR from 2009 that never materialized he has nada to do with PTOI.
PTOI Chart- looking very nice!
http://stockcharts.com/h-sc/ui?s=PTOI&p=D&b=5&g=0&id=p63190798610
So a PR from 4-5 years ago is what? The company has changed business plans which is very evident over the past year
since Rick Heddle took over. He even has put $4 million of his own dollars in.
PTOI- has been Trading above the 50 day moving average for 8 days. The 200 day MA is at .118. This will be broken over early next week. Then it is blue skies.
PTOI Chart- looking very nice!
http://stockcharts.com/h-sc/ui?s=PTOI&p=D&b=5&g=0&id=p63190798610
Any word on why he returned 30 million of his own shares to the treasury to help fund the company?
Huge difference between deficit and debt. Debt means they owe somebody 65 million, which they don't.
from their last 10Q they are 65 million in debt, bankruptcy is just a formality.
Money made in the stock market is not made buying at the high. It is made buying at the low and selling close to the high. It is that way for any stock. Check out the oil stocks. Many are down 70% from their highs in a few months. Are they bad stocks?
Yep- the almost $50k in stock will be worth millions down the road. Maybe even this year.
Actually it has run from .05 to .095 in 5.5 years. The O/S has gone from 60 million to 116 million in the same period of time.
Was PTOI an IPO that opened at $7? No, I think it was .05 in 5/2009-
Another worthless promotion? When was the first? I did a check on stock promoter.com and JBI/ PTOI has never had a stock promotion.
I guess 8k's, 10k's, and 10q's are promotions? I call them filings.
http://stockpromoters.com/View-Stock-Promotions-By-Symbol.aspx?symbol=Ptoi&ctl00$ContentPlaceHolderyy$Footer1$Image2.x=7&ctl00$ContentPlaceHolderyy$Footer1$Image2.y=5
Wow- and that was in the 10k. Please list the debtors of this mythical 65 million in debt.
It has never been about the price of oil, it is about ridding the world of plastic being dumped in landfills. How many companies are on the "green" initiative?
You must have missed this-
PRW: ( PTOI ) Letter to Plastic2Oil Stockholders from Richard Heddle, Chief Exec
utive Officer
Niagra Falls, NY / ACCESSWIRE/ November 24, 2014 / 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:
http://plastics.americanchemistry.com/Stand-Alone-Content/Economic-Impact-of-Pla
stics-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
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:
JBI, Inc.
ir@jbi.net
716-278-0015
SOURCE: JBI,Inc
Replies:
Haven't they been in negotiations with companies that
geo56p on 11/24/2014 11:24:32 AM
Nicely written and very appreciated! Heddle wants
jcoukr on 11/24/2014 11:27:44 AM
as one of many P2O investors who'd *actively*
fourkids_9pets on 11/24/2014 11:40:44 AM
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