Replies to post #269743 on Plastic2Oil Inc (PTOI)

[BigBake1]

JBII is quoted on the OTC Markets, a two tier system, consisting of brokers at the first tier and Broker Dealers at the second tier. Quotation on the OTC Markets occurs at the Broker Dealer level (MM), therefore if the Ask is at .11 then yes an MM is representing the National Best Ask for .11 for a retail trader. They do not hide, they do not "bypass", they simply QUOTE the orders that meet the minimum size for quotation, which between .10 to .1999 is 5000 shares from a single broker/retail. Soon JBII will be trading at 10,000 share minimums for quotation, let us review FINRA Rule 6433:

6433. Minimum Quotation Size Requirements For OTC Equity Securities

Every member entering quotations in any inter-dealer quotation system that permits quotation updates on a real-time basis must enter and honor those quotations for at least the minimum size defined in the table below. In this regard, it is the member's responsibility to determine the minimum size requirement applicable to its quotation. Depending on the price level of the quotation, a different minimum size can apply to each side of the market being quoted by the member in a given security.

 Price (Bid or Offer)	Minimum Quote Size 
 0.0001–0.0999	 10,000 
 0.10-0.1999	 5,000 
 0.20–0.5099	 2,500 
 0.51–0.9999	 1,000 
 1.00–174.99	 100 
 175.00+	 1

Although one may want to purchase 4000 shares at .103 or .105, their Bid will not be displayed nationally, unless of course there is another customer willing to buy at least 1000 shares to make a total combined order of 5000 shares at the SAME broker. Claiming a 4000 share BID is "legit" is full of shit. It is only "legit" at the broker level at that brokerage, unless one wants to call their order in and pay the fees to have their broker call 3 other brokers to see if they can find shares at that same price. As it pertains to NBBO and L2 however it does not make the cut to be displayed therefore it doesnt exist at the National Market level.

Therefore any order that meets the minimum requirements will in fact be processed at the NBBO and L2 if it is in fact the Best Ask or Best Bid. Furhter L2 is a trading TOOL, it has no order DEPTH, it only displays the best from each corresponding broker, it also does not display 9 different order including the already discussed orders that DO NOT MEET THE MINIMUM QUOTATION REQUIREMENTS, but let us review once again the 8 different orders that will result in no display on the NBBO and L2 for JBII, FINRA Rule 6460:

6460. Display of Customer Limit Orders

(a) Each OTC Market Maker displaying a priced quotation in any OTC Equity Security in an inter-dealer quotation system shall publish immediately a bid or offer that reflects:

(1) The price and the full size of each customer limit order held by the OTC Market Maker that is at a price that would improve the bid or offer of such OTC Market Maker in such security; and
(2) The full size of each customer limit order held by the OTC Market Maker that:
(A) Is priced equal to the bid or offer of such OTC Market Maker for such security;
(B) Is priced equal to the best bid or best offer of the inter-dealer quotation system in which the OTC Market Maker is quoting; and
(C) Represents more than a de minimis change in relation to the size associated with the OTC Market Maker's bid or offer.

(b) The requirements in paragraph (a) of this Rule shall not apply to any customer limit order:

(1) That is executed upon receipt of the order.
(2) That is placed by a customer who expressly requests, either at the time that the order is placed or prior thereto pursuant to an individually negotiated agreement with respect to such customer's orders, that the order not be displayed.
(3) That is an odd-lot order.
(4) That is a block size order, unless a customer placing such order requests that the order be displayed.
(5) That is delivered immediately upon receipt to a national securities exchange or an electronic communications network that widely disseminates such order and that complies with paragraph (c) below with respect to that order.
(6) That is delivered immediately upon receipt to another OTC Market Maker that complies with the requirements of this Rule with respect to that order.
(7) That is an all-or-none order.
(8) That is priced less than $0.0001 per share.

Pretty straight forward stuff, if one places an AON order for example, well guess what.... IT DOESNT SHOW UP ON L2, it is not because the MM is hiding it, it is because it doesnt better the NBBO at any time because the retail made it CONDITIONAL.

MMs do not care what this turd trades at, in fact they do not even know it exists, they do not trade these crap securities from their own principal accounts, in fact they use a process called Riskless Principal to complete trade transactions if an order meets the minimum and can be processed.

There are no "conspiring" entities.. well exception being the morons that run this company that collude to hide material information like broken equipment and no production form shareholders. Of course the same morons that have failed to get this security back in reporting status with the SEC. If they ever do become current you can bet your ass that this will be dumped to the brink when those Rule 144 shareholders get their opportunity if they ever do.