Plastic2Oil Inc (PTOI)

[loanranger]

The facts aren't going to change with the passage of time.

JBI stated in their financial statements that they had acquired an asset for $1 million in common stock and reflected that asset in their financial statements as having a value of $10 million. They then presented that valuation as if it were a fact in documents that were used in the selling of their common stock. They later admitted that the asset had no value to the company.

Those are the facts that would have resulted in their losing the case had it been brought to trial. Those established facts don't require an admission for them to be the truth....they appear in the public record as reported by the company itself.

"A business decision was made to settle."
There's no doubt about that...and it was the right decision for both parties.


The only thing that the Cuban case had in common with the JBI case is that both cases were brought by the SEC.