Replies to post #286936 on Plastic2Oil Inc (PTOI)

[jaxstraw]

Since JAVACO and Pak-It were written off as a total loss, and shareholder value has plummeted since this occurrence......

...... it easy pretty easy to say Bordynuik was STUPID for returning the shares.

Was he smart or stupid for giving 30 million of his shares back to the company?

"Explanation of Responses:
1. The Company's CEO, John Bordynuik returned 10 million of his common shares to treasury, for the purchase of JBI's two subsidiary companies, JAVACO and Pak-It. The Companies were acquired on August 24, 2009 and September 30, 2009 respectively. The return of stock to treasury allowed for further company growth, while still preserving shareholder value and not diluting the existing shares.
2. The Company's CEO, John Bordynuik received shares for a shareholder loan repayment in the amount of 23, 846 shares.
3. The Company's CEO, John Bordynuik returned a total of 21 million of his common shares to treasury on February 3, 2010. Of this 21 million, approximately 7.5 million shares were used to offset the stock issued in a Private Placement offered by the Company in December 2009. The remaining 13.5 million shares used for clearing the remaining debt of JAVACO and Pak-It (see foot-note 1), to offset stock issuance in any future Offerings of the Company's securities, as well as provided compensation for Company Executives, while preserving shareholder value.
4. The Company's CEO, John Bordynuik returned a total of 1 million shares to treasury on June 10, 2010. Of these 1 million shares, approximately 800,000 shares were transferred to an employee of JBI, Inc. and the remaining 200, 000 shares will be used toward any future financing endeavors, to minimize shareholder dilution. To date, the Company's CEO has returned a total of 32 million shares to treasury in order to preserve shareholder value and prevent dilution. As a result of the commercial operation of the Company's Plastic2Oil processor, the CEO does not foresee the need to return anymore stock to the treasury."

The above text is from the url below.

http://www.sec.gov/Archives/edgar/data/1381105/000114036111003047/xslF345X03/doc1.xml

[jobynimble]

How much are those 30 million shares worth now compared to when he gave them back?