Plastic2Oil Inc (PTOI)

[Johnik]

What in the world is the problem with getting the air permit? Everything is so great, where is the air permit? The solid waste permit is another thing. We understand having to get that. But the air permit. Has that not been a given for a long time now? Well, where is it?

The air permit is being held up because the DEC has determined that it must be reviewed together with the solid waste permit. The following is from the DEC's December 15 Consent Order:

6 NYCRR Part 617 (State Environmental Quality Review Act) requires that an agency must consider an entire project as a whole and not separately. Consequently, the Air State Facility permit application must be reviewed in conjunction with a Part 360 permit application. Since Respondent’s operations plan was based on a receipt of a BUD, Respondent must now prepare and submit a Part 360 permit application for the use of waste plastics at the Facility.

http://www.sec.gov/Archives/edgar/data/1381105/000121390010005243/f8k121510ex99ii_jbi.htm

By December 2, the DEC had prepared a working draft of the air permit, which is incorporated by reference into the Consent Order. Again, taken from the Consent Order:

While awaiting issuance of project permits, operate the one existing pyrolysis unit commercially under the terms and conditions of the 12/02/2010 Draft Working Copy of Air State Facility Permit ID 9-2911-00348/00002, which is attached to this Order as Schedule B.

The working draft of the air permit: http://www.sec.gov/Archives/edgar/data/1381105/000121390010005243/f8k121510ex99i_jbi.htm

The language of the working draft of the air permit will obvious undergo some revision. Among other things, the Consent Order requires a new air permit application to expand the scope of operations beyond the single processor.

Submit a revised Air State Facility Permit application for more than one pyrolysis unit. January 15, 2011

I do agree with you though that shareholders (myself included) would now like to see some revenues from the fuel produced. Hopefully that will happen soon (if it hasn't happened already).