Plastic2Oil Inc (PTOI)

[capital gain]

Snow.

He actually did two private placements, first one for $6.4 mil at $0.80 per share was started in Sep 2009, before the media credits was even listed on their quarterly report, granted they were mentioned in the prospectus, however there was also a big fat disclaimer in that prospectus, stating that the share price in the PP was purely arbitrary and not related to any company assets.

The second pipe was started in April 2010, in this one they raised approx $2 mil at $4 per share, and you are right that the media credits here represented less than 5% of the market cap at that point between Jan 2010 until end of April 2010, I haven't seen that prospectus, however I am pretty sure they had the same disclaimer in there as well.

I still cannot get my head around how the SEC could ever take this issue as far as they have, from where I am sitting, then this whole case is so thin, that IMO it is a complete waste of US tax payers money.

GLTA.

A.H