Plastic2Oil Inc (PTOI)

[dreaminbig]

Link about melting tapes.

John Bordynuik, President and CEO of 310 Holdings Inc., said, "We expect the acquisition to have an immediate and significant impact on our financial results. This asset purchase will allow 310 Holdings to read tapes to realize the revenue of migrating data of customers' tapes at a flat rate of $22 a tape and then recycle the old tapes by using our Plastic2Oil processor. As we are currently paid by clients to recycle these tapes, this will effectively cause a negative feedstock cost into our Plastic2Oil processor. These old tapes weigh approximately 2 kg each with their plastic cover, and we believe we will be able to produce 2 liters of fuel from every recycled tape. Through this acquisition, we have approximately 50 tons of tapes to read, to migrate the data and to recycle in our Plastic2Oil processor, 20 tons immediately."

http://www.plastic2oil.com/site/news-releases-master/2009/06/25/310-holdings-inc-enters-into-definitive-asset-purchase-agreement-with-john-bordynuik-inc

They had 20 tons of tapes to melt in June of 2009. Wonder what they did with the fuel? Imagine if JBI had continued to read tapes at $22 per. What would revenue be today? JBI was able to read 700 tapes/day with his mobile unit. http://www.plastic2oil.com/site/news-releases-master/2009/06/26/310-holdings-inc-reads-transcribes-seismic-data-stored-on-legacy-computer-backup-tapes-due-to-acquisition-of-john-bordynuik-inc