Plastic2Oil Inc (PTOI)

[Scandle34]

I don't know why he does or does not do things.

Assuming the stack test goes well and they have a permit in September, they may have cash on hand enough to end of year and MAYBE to build 4 more $200K processors. With any typical DSO on receivables, probably only on paper and not in real cash flow.

So, I have always expected a PIPE for ~$20M of growth capital late this year. What I did not expect was the brigde they did because delays and financial reporting inneptitude caught them short nor did I expect this collapse.

The bridge was just that, a bridge over an unexpected washout. Of course they need another raise, have always said they needed one, and will only get where they claim they are going with one.

The issue now is, did this train wreck derail their ability to raise that $20M well above $5 or will they now be raising it at $0.80 again?