Plastic2Oil Inc (PTOI)

[wEaReLeGiOn]

The point is that Bordynuik claimed that JBI was worth over $10MM at the time he was looking to 'borrow' $8MM from PIPE investors.

Try going to a bank and telling them you have $10MM in assets, and only need to borrow $8MM, you're likely to get a loan, as the bank will take the $10MM in collateral.

Try going to a bank and telling them you have $0 in assets, and only need to borrow $8MM, you're likely to be shown "the door" post haste.

The PIPE investors were told repeatedly that JBI had in excess of $10MM in assets. Bordynuik and Baldwin knew they were lying to PIPE investors, and common stockholders. The evidence is overwhelming, and to put the cherry on top, immediately following the PIPE issuance, Bordynuik restated their value as zero.

It's a slam-dunk for the SEC.


Media credits was not why I invested in JBI and I'm sure most if not all were not swayed by media credits in their decision to invest.