Plastic2Oil Inc (PTOI)

[loanranger]

"They have also been shipping fuel to someone."

Maybe they have been shipping it to themselves....the tanks in Thorold for storage?

Two facts support that possibility:
1. The company, without explanation, declined to provide the dollar revenues in P2O fuel sales for the last quarter of 2011. Why?
2. For the first time ever the company quantified the P2O Inventory Asset on a financial statement. At 12/31 it was $101,885.
"During 2011, we started producing oil from recycled plastic, which required valuation of the plastic inventory and the oil inventory on hand."
"Inventories, which consist primarily of electrical components at Javaco and plastics and processed fuel at P2O, are stated at the lower of cost or market."

Apart from acknowledging that the inventory itself both existed and was entitled to a value, a fact that previous financial statements had failed to acknowledge and some on this board had denied was necessary, we learned something else from those 10-K quotes....for some reason, the "free" plastic inventory requires a valuation. Interesting stuff!

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