Plastic2Oil Inc (PTOI)

[Rawnoc]

It's 70% off state income taxes.

I know, I know....more hype. We must do whatever we can to spin free money from the government as a negative.

Free money had an application fee as you pointed out. Check.
Free money will take management fees. That cost money.
Don't forget free money means more options in the future. More options means more decision-makers. Decision-makers are expensive.
Free money means more fuel being burned to transport that free money to the bank. More fuel burned equals less product available for sale.

Anything else? Gotta be a ton more.