Plastic2Oil Inc (PTOI)

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Heddle is a guy who built Heddle Marine over decades. He didn't do that by lying to people.
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Richard Heddle, Chief Executive Officer

Thanks, John.

So, as you can see, there’s a lot that we’re excited about here for the future of JBI.

As you’ve heard, the company is consistently producing fuel at a rate that it never has before and we feel we have more substantial interest in our company from the market than we’ve ever had.

As a closing note, in striving to immediately align ourselves with our shareholders, executive salaries will be reduced significantly. There will be absolutely zero consideration of executive bonuses and extras until the company is standing steadily on its own two feet.

Furthermore, in an effort to align ourselves towards more transparency for our shareholders, we’ll be offering a mid-quarter snapshot into company operations on a consistent basis from here moving forward. We anticipate starting this midway through the fourth quarter, as we’re nearly halfway through quarter three already.

Again, we feel we’re in a substantial position to reduce our spending significantly before the end of the year.

It’s clear to me that the company, at this point, should be swimming with the current to get ourselves towards cash flow positive, not against it. Reducing excessive spending, curbing large executive salaries and being fully transparent with the market are how you make things easier for yourselves. That starts today.

It’s extremely important that our shareholders and potential investors know that the hard parts of a startup, we feel, are almost behind us. We’ve settled some major legal issues, we’ve had the technology validated by several scientific engineering firms and we’ve established customers like U.S. Steel and feedstock partnerships with reputable companies like Crayola. Most importantly, we have a dedicated team of people, all of whom sacrifice countless hours day after day, week after week to strive for the same thing that our shareholders want: building value behind our company with its one of a kind technology.

I look forward to updating everyone in the future, thank you for your time on this call today.