Plastic2Oil Inc (PTOI)

[BigBake1]

Pure bullshit, further with the new name and CUSIP where is all of this covering that should be occurring? Fact is there are no delivery issues with this crappy security, it is a total flop as a business and it diluted the share structure along the way. It is here because of it's own actions and has nothing to do with any external entity manipulating the price or stock transactions.

The FTD report makes it clear, there are 0 delivery issues here. The two Treshold events were tied to PIPE Financiers selling their security before the restricted legend was removed. They used an exception under SEC Rule 203 which allowed them to naked short shares into the market while delivering at a later date within 35 days.

Rule 203(b)(2)(ii) provides an exception from the uniform locate requirement for situations in which a broker-dealer effects a sale on behalf of a customer that is deemed to “own” the security although, through no fault of the customer or the broker-dealer, it is not reasonably expected that the security will be in the physical possession or control of the broker-dealer by the settlement date. Footnote 71 of the Adopting Release states that one such situation is where a customer owns stock that was formerly restricted, but presently may be sold pursuant to the provisions of Rule 144 under the Securities Act of 1933 (17 CFR 230.144). Rule 144 securities may not be capable of being delivered on settlement date due to processing to remove the restricted legend. In such situation, delivery should be made on the sale as soon as all restrictions on delivery have been removed, and in any event within 35 days after trade date. If delivery is not made within 35 days after the trade date, the broker-dealer that sold on behalf of the person must either borrow securities or close out the open position by purchasing securities of like kind and quantity.

Shareholders should be focusing on the failure after failure here of this so called business. Bottom line it is over priced currently and if they ever file that Q before the next Q goes delinquent you can bet on Shareholders that rely upon Rule 144 are going to sell as soon as they can.