Plastic2Oil Inc (PTOI)

[Arthur Edward Whoof]

Feedstock Procurement

Historically, we operated under the premise that we would be able to obtain significant quantities of waste plastic for free, as we offered companies a more cost-effective disposal method for this waste stream. During the year, as we processed increasing amounts of waste plastic, we made the determination that in order to obtain the most optimal feedstock on a consistent basis, we would be required to purchase this feedstock. We continue to receive free plastic from time to time, however, we have concluded that these sources are not able to provide us with the amount of feedstock required to consistently feed the processors at the optimum feedrates.


This paragraph of the 10K is the nail in the coffin.

This is where JBI admits that the business model is not possible on the basis of FREE plastic.

This is the basis that was used to create all of the hype that JBI would be wildly successful.

This is the basis that was used to extrapolate the $10brl cost of fuel production.

This is the basis that was used to conclude that processors could make $10mill/year of fuel.

This is the basis that makes any SAIC conclusion incorrect.

This is the basis of the entire sales pitch.

This basis was admitted in the 10K to be unachievable, which in turn makes all of the numbers unachievable.


Now the problem is, as I have previously stated, that there is no way to get the plastic they need at a price that makes P2O commercially viable because JBI has way too many restrictions and a direction that has no possibility of success.