Plastic2Oil Inc (PTOI)

[tykundegex]

Indeed, John seemed to mention $2.2m per site, but it was unclear if that was revenue or profit. I'm not sure how they arrive at that number though.

Also, he did say that their math was based on 20-tons / day, which is a minimum as it represents a single batch per processor. JVs will strive to run 2-3 batches / processor / day (i.e 40-60 tons) assuming they have adequate feedstock, and JBI claims to be "locking supply agreements up", which makes me smile even if its ONLY in 3 urban areas.

In some cases they get paid for taking plastic. In some states they don't pay 35% tax. In most cases JV's will operate more than 2 batches per day and run more than 260 days per year.

Still, if you take my prior numbers, the 25 initial JVs with a P/E of 50 would put JBII at $18.75 (with 50m O/S).

I am also keen to learn more about the math behind their numbers, but what makes this an exciting investment is that John and his team don't seem to care much about convincing people that what it is they say is true, and seem to focus all their energy on just executing and proving it.

Kinda reminds me of Google's "do no evil" mantra in the early days...

S.