Replies to post #304604 on Plastic2Oil Inc (PTOI)

[jaxstraw]

No Veridisyn and Robin Curtis? lol

[jaxstraw]

No Master Agreement ? lol

[buenokite]

Heddle must think people are truly idiots...

[ThePennyGuru]

Go PTOI- I have my popcorn ready. Gonna be fun watching shorty scramble.

[loanranger]

On October 2, 2019, Plastic2Oil, Inc., a Nevada corporation (the “Company”), entered into an agreement (“Agreement”) with Nulixo, Inc. (the “Buyer”), whereby the Buyer agreed to appoint the Company as the exclusive supplier for plastic to oil processors for a period of twenty (20) years. Specifically, the Buyer agrees to purchase at least eight (8) processors over a period of three (3) years, and at least one (1) to be ordered upon the effectiveness of the Agreement. Pursuant to the first purchase order, for which the company is awaiting initial funding of the purchase order, the Buyer ordered two (2) processors for Six Million Dollars ($6,000,000) with an initial payment of Three Million Dollars ($3,000,000). Any subsequent processor purchased shall be at a fixed rate of ($3,000,000). In addition, the Company has further agreed to provide monitoring and servicing services for a fee to be determined on a case by case basis.


"whereby the Buyer agreed to appoint the Company as the exclusive supplier for plastic to oil processors for a period of twenty (20) years"
The Buyer promises not to buy a processor from anyone else for 20 years?
Yep, that's what it says. Why would anyone commit to that? What was their incentive? Their business plan isn't to convert plastic to oil, it's to buy Plastic2Oil processors come hell or high water, whether they convert plastic to oil profitably or not...they've precluded themselves from buying any better equipment that might come along in the next 20 years and how low a bar is THAT?
(I'll bet the Agreement isn't quite that foolish, even if one of the parties is a State Senator.)

"the Buyer agrees to purchase at least eight (8) processors over a period of three (3) years, and at least one (1) to be ordered upon the effectiveness of the Agreement."
Wait a minute. What happened to this, from the first sentence:
On October 2, 2019, Plastic2Oil, Inc., a Nevada corporation (the “Company”), entered into an agreement (“Agreement”) with Nulixo, Inc. (the “Buyer”)?
I guess they entered into an Agreement on October 2 but it isn't effective yet (no date provided for effectiveness). When it IS effective Nutlixo will order a processor.

But a processor HAS BEEN ORDERED...two of them, actually.
"the Buyer ordered two (2) processors for Six Million Dollars ($6,000,000) with an initial payment of Three Million Dollars ($3,000,000)" that it hasn't made yet.

So there's no effective Agreement in place and the only purchase order issued to PTOI, which was contingent on its effectiveness, won't be acted upon because the terms were 50% cash with order and payment wasn't provided with the order.


This filing would have made sense if the 8-K instructions included an Item 1.0X Possible Entry into a Material Definitive Agreement.
All it takes now is a little imagination, just as it has since 2009.


Sing it, Dick.

[fourkids_9pets]

as previously noted .. ;)

curious to see if RC's MA is utilized (format)

and just me perhaps .. but i would expect to see
whether *fait accompli* becomes reality

imo RH is many things .. but stupid isn't one of them

==================

curious to see re: RC's Master Agreement

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=140571930

reminder .. HM

http://heddleshipyards.com/

4kids

[fourkids_9pets]

With our development partners, Redwave and P2O, Inc. we will stay on the cutting-edge of waste and to be able to process medical, hazardous and petroleum waste, as well. Utilizing our advanced technologies, Nulixo plans on reaching further than just the processing of waste materials, but not limited to, raw materials gathered by mining.
Stay tuned!

https://www.nulixocorp.com/about-us

==================


PTOI 8K FILED

 News News Alert: Current Report Filing (8-k) 10/08/2019 05:17:38 PM 

Item 1.01 Entry into a Material Definitive Agreement .


On October 2, 2019 , Plastic2Oil, Inc., a Nevada corporation (the “Company”), entered into an agreement (“Agreement”) with Nulixo, Inc. (the “Buyer”), whereby the Buyer agreed to appoint the Company as the exclusive supplier for plastic to oil processors for a period of twenty (20) years. Specifically, the Buyer agrees to purchase at least eight (8) processors over a period of three (3) years, and at least one (1) to be ordered upon the effectiveness of the Agreement. Pursuant to the first purchase order, for which the company is awaiting initial funding of the purchase order, the Buyer ordered two (2) processors for Six Million Dollars ($6,000,000) with an initial payment of Three Million Dollars ($3,000,000). Any subsequent processor purchased shall be at a fixed rate of ($3,000,000). In addition, the Company has further agreed to provide monitoring and servicing services for a fee to be determined on a case by case basis.

https://www.sec.gov/Archives/edgar/data/13811...orm8-k.htm

==================

curious to see re: RC's Master Agreement (format) is utilized

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=140571930

reminder .. HM

http://heddleshipyards.com/

[fourkids_9pets]

PTOI 10Q Filed

https://www.sec.gov/Archives/edgar/data/1381105/000149315219019294/form10-q.htm

 News Alert: Quarterly Report (10-q)	12/16/2019 04:32:48 PM

[fourkids_9pets]

PTOI 8K Filed

Section 8 – Other Events

Item 8.01 Other Events

In light of the circumstances and uncertainty surrounding the effects of the COVID-19 coronavirus pandemic on the business, employees, consultants and service providers of Plastic2Oil, Inc. (the “Company”), the Company’s Board of Directors and management have determined that it will delay the filing of its annual report on Form 10-K for the year ended December 31, 2019 (the “Annual Report”) by up to 45 days in accordance with the SEC’s March 4, 2020 Order (Release No. 34-88318) (the “Order”), which allows for the delay of certain filings required under the Securities and Exchange Act of 1934, as amended. The Company’s operations and business have experienced disruption due to the unprecedented conditions surrounding the COVID-19 pandemic spreading throughout the United States and the world and thus the Company’s business operations have been disrupted and it is unable to timely review and prepare the Company’s financial statements for the 2019 fiscal year. As such, the Company will be making use of the 45-day grace period provided by the SEC’s Order to delay filing of its Annual Report. The Company plans to file its Annual Report by no later than May 14, 2020, 45 days after the original due date of its Annual Report.


https://www.sec.gov/Archives/edgar/data/1381105/000149315220005372/form8k.htm

https://www.sec.gov/rules/other/2020/34-88318.pdf

[loanranger]

"On October 2, 2019, Plastic2Oil, Inc., a Nevada corporation (the “Company”), entered into an agreement (“Agreement”) with Nulixo, Inc. (the “Buyer”), whereby the Buyer agreed to appoint the Company as the exclusive supplier for plastic to oil processors for a period of twenty (20) years."

October 2, 2019???

I'll bet I could get the same deal.

Dear CEO Heddle,
I hereby promise not to buy any plastic to oil processors from anybody else. You can decide for how long, just let me know. I know you want money up front so I promise to order the first one as soon as I can scrape the cash together or you don't have to give it to me.

Deal?

Regards,
Tom Collins (Chuck Schumer's brother-in-law), CEO
Uneverheardofuseither, Inc.

[100% CORRECT DD]

I hope Rick had a restful and relaxing holiday Monday after working so hard at P2O these last few years...