Plastic2Oil Inc (PTOI)

[Gooeyduck]

“The timeliness of this financing is ideal. We now have the capital resources to accelerate the commercial roll-out of our P2O processors at our Niagara Falls plant and the initial RockTenn sites, endeavoring to achieve our near term goal of becoming cash flow positive.”

"During the 3-day audit, the P2O processor ran in continuous mode, with 121,318 pounds of throughput, producing 10,287 gallons of No. 6 Fuel and 4,269 gallons of Naphtha."

“This is an exciting moment in the Company’s development,” commented Mr. Bordynuik, founder of JBI, Inc. “I’m pleased to introduce Kevin Rauber as our new Chief Executive Officer. Kevin comes to us from Rock-Tenn Company, where he was Vice President of Waste Solutions overseeing a large global business.” Mr. Bordynuik continued, “Having Kevin on board will allow me to step away from the demands of the CEO role and focus on the technological aspects of the commercial P2O roll-out.”

"JBI, Inc. is pleased to announce that investors have agreed to invest $10 million of equity capital via a private placement of unregistered securities at $0.80 per share. The Investment Group participating consists of prominent private equity investors, venture capitalists, investment bankers and accomplished corporate executives."

The Investment Group participating consists of

prominent private equity investors,

venture capitalists,

investment bankers

and accomplished corporate executives."

http://www.plastic2oil.com/site/news-releases-master/2012/05/15/jbi-inc-announces-10-million-financing-successful-independent-engineering-review-of-p2o-technology-by-saic-and-management-and-governance-changes

The SEC will settle with JBII