Plastic2Oil Inc (PTOI)

[jaxstraw]

OMG. This company sucks.....

As we shifted our business strategy to selling fuel processors, we did not derive any revenue from processor sales in 2016 or during the nine months ended September 30, 2017.

We did not derive any revenue from our Data Business for the nine months ended September 30, 2017.

We had no fuel production or processor sales in the nine months ended September 30, 2017.

Consequently, there was neither fuel shipment nor fuel revenue.

This was mainly due to management’s decision to shut down its production in the fourth quarter of 2013 due to the severe cold weather that caused damage to condensers and other components of our processors and the lack of operating cash.

The damage requires substantial working capital for general repairs and replacement of damaged condensers and we have been unable to obtain the financing necessary to make these repairs.

These processors were idle for all of 2014, 2015, and 2016 and remain idle through the date of this filing. Management estimates the processors will remain idle until the Company can raise additional capital