Plastic2Oil Inc (PTOI)

[ponzi_implosion]

UPDATE -- JBII Growing List of Litigants & Problems

Federal Government / SEC

http://www.sec.gov/litigation/litreleases/2012/lr22220.htm

Auditor Adverse Opinion / Accounting Issues

http://www.sec.gov/Archives/edgar/data/1381105/000121390012001206/f10k2011_jbi.htm

Pg 64

"...the Company did not maintain effective control over financial reporting as of December 31, 2011 due to pervasive control deficiencies and material weaknesses. The existence of pervasive control deficiencies and material weaknesses impair the effectiveness of other controls by rendering their design ineffective or by keeping them from operating effectively....

Class Action Lawsuit

Pg 40

"...on July 28, 2011, one of our shareholders filed a class action lawsuit against us and Messrs. Bordynuik and Baldwin on behalf of purchasers of its securities between August 28, 2009 and July 20, 2011. The complaint in that case, filed in federal court in Nevada, alleges that the defendants made false or misleading statements, or both, and failed to disclose material adverse facts about our business, operations, and prospects in press releases and filings made with the SEC. .."