Plastic2Oil Inc (PTOI)

[Estimated_Prophet]

Insider selling and plastic from grocery stores.

Don't love hearing about either of these.

There is naturally always going to be some turnover with PIPE shares. You don't sell shares to people without them asking what it is for, and what are the goals for the company to accomplish. What did JBI really accomplish with the May PIPE? It's hard to say definitively at this moment. A huge portion probably went out the door straight to liabilities. Management did seem to make the rest last longer than I would have thought. So, some sort of cost cutting and fuel production increase has occurred, but how much? Not sure it's been significant enough.

I think we'll see at least one more form 4 Monday. Is it right that the recent sellers no longer have to report their future sales? While it is a small amount, and naturally some are going to be disappointed, especially if results were behind what was promised, it's still something I hate to see. These accredited investors should have put in money they could afford to lose, so to take it out seems to show very little belief in where the company is headed.

Thankfully, Meyer and two others came back for more, or we would have a real problem on our hands.

Plastic being picked up at grocery stores? Oh my. Hard to not think they have some issues here. Is there not enough low hanging fruit to run two machines? Where are the large industrial sources? What's the issue? Can JBI only use a very limited type of plastic and/or is the price fairly high for what they really need? Or, was this just a regular stop along a route, and I'm blowing this concern out of proportion? I have no idea.

I have no problem if they need to pay for plastic, and no problem if a 3 machine cluster has $40/barrel costs, as long as there is a 50% margin or better, and they can process at least 24 tons/day, this investment should pay off very well.

This is the big issue with JBI. They continually don't address in a clear manner to the market what they are truly capable of. Hope they do a better job in the next few months, or the stock will erode away the premium over the .50 PIPE, and raising any additional money won't be pretty.