Plastic2Oil Inc (PTOI)

[jimmenknee]

Great-- now we are getting somewhere

First, I didn't say they audited JBI-DE, I said they looked at all the transactions related from acquisition to to selling of DE assets and services.

Right-- no disagreement. And no JBI-DE balance sheet transfer of cash to JBI-NV either.

Yes they did look at JBI Canada, it's in the filing, the 2008 statements had to be done again.

Let's pull these 2 unrelated pieces apart (JBI Canada and 2008 statements). The JBI Canada referenced in the 10K is a JBI-NV, wholly-owned Ontario corporation to produce, market and sell the Pak-It™ products in Canada (formed in February, 2010). It is not the original JBI-CAN corporation that was the first home of the tape business that later officially and fully reverse merged into Expedite 2 (JBI-DE).

Trying to keep/get a handle on all the entities is difficult-- I understand. For the purpose of our discussion; the focus is on the Tape Business balance sheets which includes the infamous "IPO" money raised. Perhaps it would be less confusing if we called them JBI-CAN-Tape and JBI-CAN-Pakit respectively.

The re-audit of the 310 Holdings financials for the year ended December 31, 2008 was accomplished because the former independent registered public accounting firm, Moore & Associates, Chartered, is no longer registered with the Public Company Accounting Oversight Board (PCAOB). That is clearly stated up front and does not include auditing the books of JBI-CAN-Tape or JBI-DE.

WSB mentions many aspects of the business before the purchase of 310 Holdings.

Of course they do as JBI-NV bought the assets to run the tape reading business. It all starts off with: "During June, 2009, the Company purchased certain assets of John Bordynuik, Inc. (“Data”), a Delaware corporation." and then goes on to explain the business. What logic leap are you asserting that ties into the > $1 million on the JBI-DE balance sheet?

I went over rawnoc's information regarding the mystery million, I agree with him, the math is correct. It really isn't a mystery, basic business it seems, but not for everyone, it had to be pointed out to me too. Same with some other claims others have made in the past about the books. Ask people who know what they are talking about and all is made clear for me. It's been almost 1.5 years since the mystery million and the 3.5 million scams, I saw JB and other JBI executives recently, they were not behind bars. WSB did their job, so will Ernst and Young, I'll take their word for it, sorry.

No worries. You (or anyone for that matter) can't/won't produce definitive proof, therefore the disposition of the > $1 million in cash on the JBI-DE books will not be cleared up-- regardless of "tier of knowledge" assignments that allude to some bizarre MB Cast System.

$1 per year salary through JBI-NV and > $1 million available through JBI-DE. Perfectly legal-- won't put anyone behind bars. And the $1 can be taken and run with as a talking point for CEO selflessness but it continues to be an apparition that is neither selfless, unusual nor virtuous