Plastic2Oil Inc (PTOI)

[BigBake1]

Still broken and now pushing the fix date out to Q1 2015... lol.. What A pile of garbage... lol.. Shuts down all of those theories of working processors here:

The Company 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 its processors. Management estimated 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 its financing options, including the sale of shares of its common stock or other securities, in order to allow it 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 first quarter of 2015. During the idle period, the Company significantly reduced its headcount by furloughing its operations personnel but retained a small team to perform general repairs and maintenance on the processors. Once the processors are repaired, the Company expects a small increase in its headcount in order to resume normal operations.