Plastic2Oil Inc (PTOI)

[Artiztic1]

In the greatest Real Estate buyers market possibly since the great depression, Honest John only paid twice the value of the Niagara falls plant, when the area is littered with empty buildings....hmmm

Johnny Boy Genius paid 401k for a property worth 185K - a whooping 125% premium. Maybe his buddy owned it, or maybe the load of plastic cups by the bubbler got him excited?


** Commercial Property **
PROPERTY INFORMATION
Current Owner Name JBI RE #1 INC
Property Address 20 IROQUOIS ST
Town Name Niagara Falls
Total Assessed Value (94% of Market Value) $169,800
Full Market Value $180,600 Land Assessed Value $51,400
Property Type 449 - Warehouse
Lot Size Acres: 3.37

What the heck it's only shareholders money, and he can always print more.

http://www.oarsystem.com/ny/niagarafalls/subject.asp?swis=291100&sbl=1600130001008000

http://www.oarsystem.com/ny/niagarafalls/photos/T000115/2911001600130001008000%20%20%20%200001.JPG



In March 2011, the Company purchased the Niagara Falls Facility, which houses the Company’s Plastic2Oil operations.

The total purchase price for the property was $401,979 which is payable $26,979 in shares, $216,832 by way of a promissory note and the remaining in cash.

The promissory note bears interest at a rate of 0% per annum, and 5% per annum interest on the balance due if the Company is in default of repayment which is due on October 4, 2011.

The Company had made a deposit of $100,000 at December 31, 2010 for the purchase of this facility.