Plastic2Oil Inc (PTOI)

[loanranger]

The company said this in their 10Q:
"On May 17, 2011, the Company issued 125,000 shares of common stock valued at $408,750 to an individual for investor relations and other related services to be rendered to the Company. The shares issued have been valued at the closing share price on the respective issue date and was reported as operating expenses in the statement of operations except $136,250 which is recorded as prepaid expenses."

For starters, the shares, which were supposed to have been "valued at the closing share price on the respective issue date", weren't. The closing price on 5/17/11 was $3.00, which should have resulted in a total value of $375,000, not $408,750.

Maybe you know who the individual was that rendered the "investor relations and other related services" to the company....I don't. The only thing that we know from the 10Q is that one third of the charge for "investor relations and other related services" was deferred into some period after the period ended 6/30/11.

Maybe the "other related services" would explain the exorbitant expense. If only we knew what they were.