Plastic2Oil Inc (PTOI)

[stocker11]

JBI made an accounting error pure and simple. The SEC (and I suspect with the involvement of others) blew that simple accounting error way, way out of proportion in an attempt to discredit a small start-up company whose technology was/is a major threat to many people for different reasons. (Oh, and by the way - it was the same accounting that the previous owner used for the same media credit).
The SEC initially tried to negotiate a reasonable settlement for the error but then filed a Wells Notice and then an SEC Claim. After damaging the company, not once, but twice the SEC ended up going back to settlement negotiations that was being attempted before the Claim was even issued.
There was no finding of fraud - at best, their may have been an accounting error but even that is suspect. It was much, much easier and far, far less costly to settle then to fight.
That's the real story.