Plastic2Oil Inc (PTOI)

[rocketeer357]

From the PR: The Company regrets that its attempts to negotiate settlement of this dispute failed, and, in consultation with its litigation counsel and Board of Directors, looks forward to vigorously defending itself in court, where the Company believes it will prevail on the merits.

Shareholders, look for a few more zeros in the next Q under the line item legal expenses

Let's be honest (John), the vast, vast majority of publicly traded companies whose CEO has authorized proceedings that have resulted in an SEC letter like the one JBII received today, are looking for new jobs. And I'm sure every one of them has crowed loudly about their innocence.

A truly independent BOD would have met without JB and come to the obvious conclusion: for the good of the company, this guy has to go. It's not a question of guilt and innocence, we all know that, but this is shaping up as a very expensive (and shareholder funded) legal battle about John Bordynuik's ego and pride.

JB's ego and inability to listen have already cost the company dearly; they may well be the company's complete undoing.