Plastic2Oil Inc (PTOI)

[the big guy]

mm, I didn't read that.... Obviously the business cannot continue in it's present form. I would guess that a major shakeup and downsizing is next. If they are going to try to make machine sales, then the "flagship" P3 machine becomes nothing more than a showpiece. Costs would go down with the reduced workforce. It could become nothing but a skeleton crew.

If I were an investor I wold be upset about the massive SG&A. There is not much explanation of it, from what I can see. It is less than before, but still overwhelming. The specific results from P3 don't really matter.

They are basically running on fumes as we speak. They are not paying their A/P. That, plus their accrued expenses would eat up any cash they had. If they had to liquidate tomorrow, they would have to sell the P&E just to pay their bills. Basically, they are almost insolvent.

I would not touch a PIPE at all. You would not be able to get access to your shares before the company went bankrupt.

I don't agree that they are not near R/S territory... add another 1.5 months of cash burn to those numbers and you have where they are now.