Plastic2Oil Inc (PTOI)

[jaxstraw]

Heddle monetarily rapes shareholders.....

Heddle has notes that eventually pay him double face value of what he loaned the company at 12% ( usury interest)

Right now he will approximately collect $9,000,000 on loans for half that amount.

That is correct. He basically doubles his principal.

If Heddle rolls the notes under the same terms ( every time he loans the company money he uses the same terms....there is no reason to believe he will not use them again) the figures get astronomical with the usury rates.

He could have lowered the usury interest rate at any time over the last 4+ years. He didn't. He has shown no indication he wants to or will.

The 2 12% notes due this year would jump to $9.9 million due on a 3 million dollar loan.

The 1 12% note due next year jumps to $3.3 million on a $1mm loan

And the demand notes go to somewhere between $4-5mm

So shareholders would be liable for $18-19 million due to Heddle on @ 5-6 million loaned.

No legit Board of Directors would allow a CEO to fleece a company of @ $12-14 million in interest.

That money would come directly out of shareholder value and any possible new investors would seriously impaired immediately upon entering if the notes are rolled.

And forget savvy institutional or the like....that would be the largest red flag ever.

And Heddle would be foolish not to collect as soon as the money is in hand.

If his intent was to roll the notes he would be have announced it with the PR.