"On January 15, 2016, the Company entered into a Surrender of Lease agreement which terminated its lease .. The premises was the site of the Company’s Regional Recycling Center, which was part of a business line that was discontinued by the Company in 2013"
Always good to be reminded of our failures.
"As of January 27, 2016, such agreements expired and were not renewed by the parties, however, the parties continue to pursue joint opportunities for the sale of processors to third parties."
Huh...same comment: Always good to be reminded of our failures.
"On February 11, 2016, Plastic2Oil, Inc., a Nevada corporation (the “Company”), issued a promissory note in favor of Richard Heddle"
Gotta love that fresh debt.
"on August 10, 2016, the Company sold to the Purchaser in a private placement (the “Note Financing”) a $100 thousand principal amount 12% Secured Promissory Note due August 10, 2021"
Huh...same comment again: Gotta love that fresh debt.
...and again:
On August 24, 2016, an additional $100,000 was received from investors from the sale of secured promissory notes in the previously disclosed private placement.
Gotta love that fresh debt.
"The “Definitive Agreement” is to be executed on or before November 25, 2016"
We'll see IF that happens and, if it does, WHAT it says.
But this is the most interesting regurgitation of them all:
"we have RH's acquisition @ EO June .. *fabrication* .. hmmm
The property was sold for $1.35 million on June 29, according to the property’s listing with the Ontario Land Registry Office."
The linked article also says:
"Heddle Marine declined to confirm it had acquired the property or comment on future plans. Heddle’s website describes the company as Canada’s leading marine repair facility with operations in Hamilton and Atlantic Canada. The deal is reported to also involve a Thunder Bay fabrication company, but that has not been confirmed."
So there's no confirmation that that abandoned bankrupt facility was bought by Heddle and even less of an established connection to "P2O/PTOI".
Good stuff!!!
Ralph Wiggum: I cheated wrong. I copied the Lisa name and used the Ralph answers.
