Plastic2Oil Inc (PTOI)

[Sherlock123]

With respect to your first point about Musk. I have found no evidence that he is a bond holder. Please provide the link for me. Thank you. However, even if he is, that does not eliminate the incontrovertible logic that we common shareholders prefer Hedddle to only hold common shares, not common shares and debt of JBI. Puzzling to me why you would combat this obvious point?

With respect to your second point, your logic is flawed again. This is not a straight debt instrument. This is secured debt with warrants at a 120% exercise price. Therefore, depending upon the number of warrants per dollar invested, let us assume, one, you have not accounted for the resultant dilution associated with buying three million shares of common for about $1.5 million when the value of those common shares would be $15 million.

With respect to your third point, yes, he is now ahead of the convertible preferred shareholders. So we common shareholders now have two constituents ahead of us. That is good for us?? Furthermore, the convertible preferred shareholders could merely pay off the bond and step right back into their prior position. Just like so many on this board proferred the convertible preferred purportedly had an incentive to BK the company, why doesn't, using the same logic, Heddle have the same incentive? In fact, he actually has powers as CEO and Chairman of the Board that dominate those that the convetible shareholders ever had. Be prudent, Chapter 11 is always a possibility and we should want prudent protections and disincentives to such action. Your aforementioned arguments do not help common shareholders. They harm us.