Plastic2Oil Inc (PTOI)

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P2O/PTOI 8K re: MASTER AGREEMENT (Filed 4.30.18)

 PTOI News: Current Report Filing (8-k)	04/30/2018 06:24:01 PM

FORWARD LOOKING STATEMENTS


This Current Report on Form 8-K contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. Forward-looking statements speak only as of the date they are made, are based on various underlying assumptions and current expectations about the future. We caution readers that any forward-looking statements are not guarantees of future performance and that actual results could differ materially from those contained or implied in the forward-looking statements. Such forward-looking statements include, but are not limited to, statements about the terms and conditions of the agreement described herein. In some cases, you may identify forward-looking statements by words such as “may,” “should,” “plan,” “intend,” “potential,” “continue,” “believe,” “expect,” “predict,” “anticipate” and “estimate,” the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company’s control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company’s beliefs, assumptions and expectations about the Company’s future performance and the future performance of the entity being acquired, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, including those events and factors described in the Company’s Annual and Quarterly Reports filed with the SEC, not all of which are known to the Company. The Company will update this forward-looking information only to the extent required under applicable securities laws. Neither the Company nor any other person assumes responsibility for the accuracy or completeness of these forward-looking statements.



Section 1 – Registrant’s Business and Operations



Item 1.01 Entry into a Material Definitive Agreement.



As previously reported, on December 21, 2017, Plastic2Oil, Inc. (the “Company”) executed a Master Agreement (the “Master Agreement”) with Veridisyn Technologies, LLC, a company engaged in processing waste plastics (the “Customer”), pursuant to which the Customer agreed to purchase all of its requirements for the catalyst and processors for its plastic-to-oil (P2O) operations from the Company and to license from the Company certain related P2O technology.



On April 26, 2018, the Company and the Customer executed an Amendment to the Master Agreement, effective as of April 20, 2018 (the “Amendment”) which amends the Master Agreement by extending the date by which the Customer must submit purchase orders for the first two processors from within 120 days of executing the Master Agreement to within 240 days of such execution. In addition, certain related time periods in the Master Agreement were extended accordingly.



The foregoing description of the Amendment is only a summary and is qualified in its entirety by the complete text of the Amendment, a copy of which is filed herewith as Exhibit 10.1.



Section 9 - Financial Statements and Exhibits



Item 9.01 Financial Statements and Exhibits.



(d) Exhibits. The exhibits required by this item are listed on the Exhibit Index hereto.

https://www.sec.gov/Archives/edgar/data/1381105/000149315218005973/ex10-1_001.jpg


https://www.sec.gov/Archives/edgar/data/1381105/000149315218005973/form8-k.htm

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