Plastic2Oil Inc (PTOI)

[Johnik]

jimmenknee, jimmenknee, jimmenknee...

Your posts of late reflect a fundamental misapprehension of the nature of trusts. I implore you to visit your local library and read up on what a trust is, how a trust operates, and what the trustees' duties are with respect to the trust.

And yes by moving shares to beneficiaries who do not have to report holdings, there will be no further understanding of the disposition;

however, Mr. Wesson also moved shares into his direct control. The speculation as to the purpose is not conspiratorial in nature. It does however, go against the grain of insider ownership proving confidence in JBI. I see it as someone who has suggested a need to supplement income

First, and most fundamentally, a trustee must act in accordance with the trust instrument. A trust does not continue with no end (look up "rule against perpetuities"), but rather must be managed and distributed pursuant to the trust terms. You seem to assume that the trustee's powers are limitless, when they are anything but.

You next appear to suggest that, by obtaining shares through a trust distribution, the trustee is then free to sell the shares at whim. In actuality, the shares held in the director's personal account are subject to somewhat greater SEC scrutiny upon disposition. The reason is that, once the fiduciary bond terminates with respect to the trust, the director has full discretion over the sale or exchange of the stock. Such discretion carries with it greater obligations in terms of SEC compliance, not to mention the director's continuing duty with respect to the corporation.

It bears noting that this transfer to the director's own account has not been followed by a reported sale of the stock by the director--a point which directly contradicts your implied assertion that this move was done by the director to obtain supplemental income. If I misunderstood your rather cryptic message about a director's direct control of stock going "against the grain of insider ownership proving confidence in JBI" then by all means clarify.

The one point I readily concede that you made correctly is that a shareholder (whether a former beneficiary or otherwise) is not subject to the same reporting requirements as a director or other insider. No surprise there.

Have a nice weekend....