Replies to post #302201 on Plastic2Oil Inc (PTOI)

[loanranger]

I always thought Heddle's nickname was Excuses and it turns out that it's Extensions.

90 days isn't much under the circumstances (60 on the $2M). Maybe it's actually Multiple Extensions Heddle.

[jaxstraw]

So $6 million+ will be owed Heddle by that date for a $3 million loan(s).

Like I posted awhile ago.....I believe they are supposedly getting $2.5mm per processor sale and it would be logical thinking at least half , if not more , would be needed to complete the transaction before any profit is realized.

And if Heddle just took all the profit to pay himself that return it would have to be a sale of at least 6-7 processors.

But that leaves the company with no revenue from these sales at all.

So than this fantastical December sale would have to be for 10-15 machines in order to pay Heddle, comp!ete the order, and keep the company operational.

Looks like the batshittery has an all new carrot dangling date.

[loanranger]

The guy who is in the best position to know what this Company is worth doesn't think it's worth owning.
Am I wrong in thinking that in agreeing to extend the Notes he turned down the opportunity to own this entire collection of nuts and bolts, headquartered beneath the power lines in the scenic lakeside City of Niagara Falls, via his security agreement?

It doesn't say so anywhere but I guess the extension was okay with the two new guys (for all we know it could have been their idea) even if Heddle did sign off for both parties....himself and the Company.
"WHEREAS, the Company and Holder desire to extend the date when payment of all principal and interest is due and payable to December 1, 2018; and,
WHEREAS, the August Note provides that, to be effective, such an extension of the time for payment must be agreed in writing by Holder;"
https://www.sec.gov/Archives/edgar/data/1381105/000149315218012819/ex10-1.htm


Will Corky Curtis bail him out by Thanksgiving? Does Corky have room in his garage for TWO processors? Maybe they'll fit in the pool:
https://www.trulia.com/p/al/tuscaloosa/11208-mountain-park-cir-tuscaloosa-al-35405--2038221029
https://www.sec.gov/Archives/edgar/data/1381105/000149315218004552/ex10-41.htm