Plastic2Oil Inc (PTOI)

[buenokite]

Q2 was about old management. I've been unable to find a Q or K with cost of goods so high

Welcome to the world of pyrolysis. This is THE traditional problem with it and why it has not been commercially viable generally for decades. And with JBI this problem definitely existed prior to both Rauber and Bogolin if you read the 10Qs and 10Ks. Although it is hard to pull out because Bordynuik intentionally hid both revenue and gross margin behind cardboard recycling. He made negative margins look positive which gives you a glimpse into his character because that is obviously a typical OTC scam ploy used by scam artists.

There were numerous technical challenges to overcome and they appear to have resolved them

How can you make that claim? Give me one shred of proof! The PR for Q3 gallons produced was horrible if you tend to believe those 10Qs you claimed you read. Uptime is just one element of gallons produced and also requires throughput. Specifically, if you read the 10Qs and 10Ks closely you will discover processor #2 should have easily produced 60,000 of the 82,000 gallons claimed in the PR. And if the company was NOT a typical OTC scam why did they not just release the amount processor #3 produced knowing that is what investors are evaluating? Why not release costs to present the full picture? If you read the 10Qs closely you will see they have traditionally provided these half pictures for investors to come to the most wildly optimistic but sadly wrong conclusions. The company is full of those kind of deceptions I can point you to if you would like, just let me know!

My biggest concern was feedstock costs. Feedstock costs ballooned out of control under Mr. Bogolin. It’s clear to me that Mr Bogolin was removed and the costs are no longer a free for all.

Like I say read the 10Qs, the problem existed pre-Rauber and Bogolin. Although all good OTC scams need boogeymen. When Bordynuik was CEO he intentionally deceived investors by hiding the actual P20 results behind cardboard recycling like I said before. I guess that is real genius. Too bad MIT does not give out honorary degrees!!

I’ve witnessed a few situations when investors place middle level managers from a large company to manage a startup. Normally a ‘startup CEO’ with a good track record is selected for a job as critical as CEO. For the life of me, I can’t understand why Mr. Bogolin was put in this position. He had no skin in the game and no prior success.

Finding somebody to lead an OTC pyrolysis scam (there have been other pyrolysis scams, this is just the latest attempt) is not as easy as you think. Oddly some people actually consider the impact on their reputation and professional careers.

Finally with all this wonderful enthusiasm, any estimate on revenue and gross profit?? Most are avoiding that topic these days probably for good reason. It is easier to just randomly woot things are getting better without getting bogged down in reality.