Plastic2Oil Inc (PTOI)

[the big guy]

I think this is part of a larger picture. Yes, getting plastic from grocery stores is kind of desperate, especially if there are shareholders involved. No way it is cost-effective.

I think these preferred shares are part of an endgame. The preferred shareholders get first dibs on assets in the event of liquidation. Looking at the Balance Sheet, the assets are worth about what the Preferred Shares raised. And they get preference in the event of liquidation.

On top of that, they can turn over their shares, selling them at .80 and buying new ones at .50.

In any event, the whales end up with what is left of this company, at the expense of common shareholders.