Plastic2Oil Inc (PTOI)

[Rawnoc]

Absolutely dead wrong again.

(1) You can read about overhead being tucked into the cost of sales or COGS on pages 37, 38, and 41 in the 10K. "overhead" translates roughly to "IT IS A FIXED COST THAT DECLINES MASSIVELY ON A PER GALLON BASIS AS FUEL PRODUCTION RISES"

(2) It would be sloppy mistake to take overhead and one-time costs all tucked into the $2.09/gallon and then try to extrapolate $2.09/gallon going forward. It's equally sloppy to apply the price sold of fuel oil #6 to their diesel fuel they are making now when we already have the breakdown of both and diesel fuel sells for far more.

(3) JBII has 55 employees according to the 10K. Those same 55 employees could make significantly more than 10 times as much fuel while incurring little to no incremental labor costs. Each additional gallon produced by the same staff costs almost nothing. They chop up free plastic or pay for chopped up plastic if it cheaper than chopping it themselves, shove it in an automated, self-energized hole, and diesel fuel comes out, irrefutably sold to NYSE: X. Increased uptime = increases gross profits. Enough uptime = company-wide profitability.

(4) See the NYSE: SAI validation report, even if outdated, for details. It was prepared for financially sophisticated investors who came from NYSE: BX