Plastic2Oil Inc (PTOI)

[buenokite]

It doesn't make sense if he had cheaper financing options he would have gone the 10% route. It seems like we would have been in a position to demonstrate to a bank we had these contracts with NASA for much more than we wanted to borrow?

We also paid $3.8MM at 10% plus 625,000 shares for a company making $200,000 a year in profit based on the 8K?

"Pak-It was formed in 2007 to acquire all of the outstanding stock of Dickler Chemical Laboratories, Inc. (“DCL”). DCL was formed in 1968 to manufacture and sell industrial cleaning chemicals regionally (the Philadelphia ‘tri-state” area). For about 10 years prior to the acquisition the company had consistently recorded revenues in the $5 million to $6 million range with profits in the $200,000+ range."

http://www.sec.gov/Archives/edgar/data/1381105/000121390009002695/f8k093009_310hold.htm