Plastic2Oil Inc (PTOI)

[Arthur Edward Whoof]

Quick response...

Snow,

What is your comment on the conclusion?

I have not had a chance to read this student's paper and I'm not sure what grade she received, however; from a quick scan I can see a number of issues that jump out right away (imagine if i really dig into it).-

Only 4.4 brl/ton... that is significantly less that what has been touted, discussed and referenced in third party reports and lofty extrapolated numbers.

Based on the fact that the student had to receive her data and information from somewhere and it seems to be indicated that JB directly guided her... I would believe that it is reasonable to conclude that her numbers came straight from the horses mouth.

If this is the case there is either a significant change/reduction in output efficiency... or the touted numbers have been referenced and overinflated all along, or she erroneously documented incorrect data in which case the entire paper is suspect for error.


Next, I can see that the illusive unicorn legend lives on...
She seems to indicate that JBI can use NYC municipal waste.
JBI indicated in the recent 10K that in order to make this work they will need to pay for plastic. The idea and economics of using municipal waste is an ongoing issue that has yet to be resolved but based on what I know the entire concept of using a waste stream to run the JBI machines is impossible in a commercially viable manner to produce fuel for profit.

Furthermore, the definitions are a killer. JBI must use non-recyclable plastic according to their permit. The legal ramifications of using plastic from a waste stream, recovering them, sorting them, decontaminating them and yet comply with the permit all become a significant problem not just from an economic level but also a legal level. At what point is the line crossed between recyclable and non-recyclable?

JBI needs specific plastic without contaminants. This means that they need recyclable plastic. If they use plastic that is not recyclable, as the permit requires, they will have fouling, mechanical failures, produce bad gassed and compounds that will corrode the machines quickly and break the emissions regulations which result in shutdowns inspections and delays.

This report defines a premise that JBI has no technical or economical way to address. The entire concept of using municipal waste liken to pouring water in your gas tank. Just because you can source water does not mean it can run your engine without separating the hydrogen and oxygen. Even though it can be done... it is not economically feasible.



The quote regarding only $280/ton really hits home... sorry i have to bring it up again to emphasize the overwhelming importance of this. Where did she get this number? If it came from JB and that is all the company can say they can make per ton of FREE plastic... this is game over right now.






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