Plastic2Oil Inc (PTOI)

[jjsmith]

The mining part of the business was how john supposedly found the magic catalyst. Mining data is NOT the tape businesses source of revenue. They simply read the tapes and copy them to a more modern media. Therefore, this statement is not a good reason for why they stopped READING the tapes. They were paid to read the tapes and copy them, not mine the data on them. So they are trying to use this as an excuse for why the tape business is not doing so hot. Once again, with a little DD, the truth is now told.

It is very clear from the info obtained in the 8K below that the salaries for the tape reading did not include John Bordynuik. To imply the tape business is on hold because John can't "mine" the tapes is BS. See the red below. The intention all along was to have two cheap employees reading the tapes. Rememeber all the posts claiming the tape business was on auto pilot? UNBELIEVEABLE TO SAY THE LEAST. Does anyone think claim will hold up to scrutiny from authorites or institutional investors? I think not. BINGO DEAD SPOT ON AGAIN!

The following is a summary of the expected revenue and costs resulting from the production of 18,000 tapes/month (one truckload):


Revenue:
Per tape cost to customer to recover data (volume order of 18,000 tapes/month) is $25/tape.
Per tape cost to customer to shred tape (volume order of 18,000 tapes/month). JBI can read one tape every 15 minutes per drive.


Total cost to customer: $25/tape
JBI costs incl. expenditures/tape (1 shift): $14/tape
Total revenue/18,000 tapes: $450,000.00
Gross Profit per truckload of tapes: $198,000.00

Expenditures:
Salaries: $736,000.00
Office Rent: $82,666.00
Accounting: $50,000.00
Legal: $50,000.00
Patents: $50,000.00
Total: $968,666.00


Salaries:
Senior Executive Team: $ 440,000.00
Research & Development 100,000.00
Salary to 2 Data Recovery Technologists $74,000.00
Contracted employees: $60,000.00
Benefits: $80,000.00
Sub Total: $754,000.00


SR&ED tax credits: $168,000.00


Total: $ 586,000.00
http://www.sec.gov/Archives/edgar/data/1415602/000121390009000261/f8k021009_expedite2.htm

John is the only person authorized to analyze and mine the data from this business, and with consideration of our other growing businesses, he is currently unable to dedicate significant amounts of time to this endeavor.