Plastic2Oil Inc (PTOI)

[monkeyfrog]

So what happened to the processor being fixed?


From this mornings 10q

The Company had to shut down its fuel production late in the fourth quarter of 2013 due to severe cold weather that caused damage to condensers and other components of it’s processors. Management estimates that the repair of the processors will require the expenditure of between $175,000 and $200,000. As of the date of this report the Company lacked the working capital or access to bank credit to make these repairs. The Company is reviewing our financing options, including the sale of shares of its common stock or other securities, in order to allow us to obtain sufficient funds to make the required repairs and resume operation of its processors.Management currently anticipates that the processors will remain idle at least until the third quarter of 2014.