Plastic2Oil Inc (PTOI)

[ManicTrader]

JBI (JBII) issued comments earlier on recent trading activity and discloses potential transactions (2.00 -0.14)

Co stated that it was concerned about this month's significant trading volumes and stock price increase, which appear to be unrelated to any disclosures by the Company. Co notes that on March 16, 2011 it signed a non-binding letter of intent with a potential customer for the purchase of naphtha from its Plastic2Oil process. At this time, a definitive fuel supply agreement is being negotiated. Additionally, on April 14, 2011, after much discussion and exchanges of drafts, co received what management believes is a final referral agreement with a large company that has a significant number of material recycling facilities and high volume waste plastic streams... Additionally, the co has been negotiating Joint Venture agreements. The contemplated structure includes: co will build and operate a Plastic2Oil processor at the source of the plastic waste and will receive plastic waste at no cost. Co will share in the revenue from the sale of fuel generated by the machine, JBII 80% / 20%... Co is also in discussions for other joint venture opportunities.