Plastic2Oil Inc (PTOI)

[Sexual Healing]

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The Company performed this test during 2010 and recorded an impairment loss of $3,079,790. The impairment loss is due to the Company changing its strategic direction for its subsidiaries, Pak-It and Javaco. The Company acquired Javaco primarily to set up a back-up operation facility in Mexico for its Plactic2Oil business and acquired Pak-It to utilize its employees’ chemical expertise to produce certain chemicals required for its Plactic2Oil business. The Company has found an alternative operation facility for Plastic2Oil activities and a third party supplier for proprietary catalyst at favorable price. Therefore, the Company changed its strategic direction for Pak-It and Javaco.