Replies to post #307449 on Plastic2Oil Inc (PTOI)

[JBIIRULES]

Welcome Aboard!!

Look forward to all your input Steve!!

Thanks for letting me know that you will be posting here!!!

People, I do not know where you get your information. Not one thing that has been said about Steve Price is true, NOT ONE. How do I know because this is Steve Price. The things you say about being financially feasible to operate P2O is my opinion also. This is why with our process of waste separation allows it to become feasible. I am doing my best to get contracts here in the US to make it a reality for all of us. The world needs our process and P2O. I am asking myself why am I trying so hard when all of you are so negative. Everyone on this investors hub is trying to discredt me and the process that does allow P2O to become a reality. Some of you have reached out to me and I do appreciate that. We can make this happen.

[agribusiness72]

"Our process" exactly what process is that? Specifically. Total BS

[jobynimble]

It’s been over a year since you’ve started this with Nulixo and still no results...

Good luck spinning your wheels...

But ask yourself this - if this works economically, and since pyrolysis has been around forever, why haven’t those with deep pockets pursued it? The answer is easily attainable but it sounds like you wouldn’t accept reality and are just another pipedreamer...

[arvitar]

I am asking myself why am I trying so hard when all of you are so negative.

Shouldn't the more important question you should be asking yourself is: why are you trying so hard when the inventor of this "technology" is so negative?

Put aside the fact that he was nailed for fraud by two different regulatory agencies in two different countries (hence, you're not doing much for your own reputation by pumping this scam-technology). That he insisted a magic catalyst is necessary to make this technology functional. And that he sold all his stock in PTOI in 2012.

Here's what he's said about the potential of PTOI's technology: "He has previously worked in the City of Niagara Falls, as the founder of Plastic2Oil. The plant remains in business in the city, but he sold his shares in 2012. He called chemical recycling a much better investment."
https://buffalonews.com/news/local/niagara-falls-company-to-create-100-jobs-at-former-union-carbide-site/article_97be059a-4b2c-5499-bab9-5e2625349aab.html

Read this again: "He called chemical recycling a much better investment."

Why do YOU think YOU know more about the potential about this technology then the inventor?

Why did both Heddle and the inventor, John Bordynuik, both jump ship if this technology worked?


Why should you be "trying so hard", when these two con men have already milked this scam dry?

[arvitar]

1. Defendants engaged in a scheme to commit securities and accounting fraud by stating materially false and inaccurate financial information on the financial statements of JBI, Inc. for two reporting periods during 2009. Specifically, the Defendants misrepresented and overstated the actual value of JBI’s assets and, hence, of the company itself by almost 1,000%.
The Defendants then used the overvalued financial statements in two private capital raising efforts (Private Investment in Public Equity or PIPES) that raised more than $8.4 million from unwitting investors.

2. At all relevant times, JBI purported to be a technology company focused on data restoration and recovery and environmentally engineered product development. JBI is purportedly involved in the research and development of a process designed to convert plastic waste into oil, known as “Plastic2Oil” or “P2O”. JBI is a p ublicly-traded company that files periodic reports with the Securities and Exchange Commission that includes its financial statements. During the third quarter of 2009 and the year end 2009, JBI materially overstated certain assets in an effort to bolster its balance sheet . Specifically, in its financials JBI listed
media credits purchased by the company for $1,000,000 in common stock as having a value of $9,997,134, which made the media credits the single largest asset on JBI’s balance sheet.

3. The almost 1,000 % overvaluation of the media credits substantially misrepresented the actual value of JBI’s assets and, hence, of the company itself. The Defendants then used the overvalued financial statements in two private capital raising efforts (Private Investment in Public Equity or PIPES) geared toward raising the capital necessary to begin commercial operation and production of P2O. JBI raised over $8.4 million for the company in these PIPES relying on misrepresentations to investors about the company’s assets and valuation. Shortly after obtaining the approximately $8.4 million in financing the company issued a public statement indicating its financial statements could no longer be relied upon due, in part, to the erroneous valuation of certain assets on the balance sheet (i.e., the media credits, among other things).

4. By engaging in the conduct alleged herein, JBI violated Section 17(a) of the Securities Act of 1933 (“Securities Act”) and Sections 10(b), 13(a), 13(b)(2)(A), 13(b)(2)(B) and
13(b)(5) of the Securities Exchange Act of 1934 (“Exchange Act”) and Rules 10b-5, 12b-20, 13a-1, 13a-11 and 13a-13 thereunder.

5. By engaging in the conduct alleged herein, Bordynuik violated Sections 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5, and Section 13(b)(5) of
the Exchange Act and Rules 13b2-1 and 13b2-2 thereunder, and Rule 13a- 14. In addition, by engaging in the conduct alleged herein, Baldwin violated Sections 17(a) of the Securities Act,
Section 10(b) of the Exchange Act and Rule 10b-5, and Section 13(b)(5 ) of the Exchange Act and Rule 13b2-1 thereunder, and Rule 13a-14. Furthermore, Bordynuik and Baldwin aided and
abetted JBI’s violations of Sections 10(b), 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Exchange Act and Rules 10b-5, 12b-20 and 13a-1, thereunder, and, as to Bordynuik only, Rule 13a-11
thereunder.

6. Based on these violations, the Commission seeks the following relief against the Defendants: (i) entry of permanent injunctions prohibiting all Defendants from engaging in future violations of the sections of the securities laws that they have violated in connection with the conduct described herein; (ii) an order requiring all Defendants to disgorge their ill-gotten gains and pay pre-judgment interest; (iii) an order requiring all Defendants to pay appropriate civil monetary penalties ; and, (iv) an order barring Bordynuik and Baldwin, respectively, from serving as officers or directors of a public company. "
http://www.sec.gov/litigation/complaints/2012/comp22220.pdf

[arvitar]

OSC fines business owner $125,000

Regulator orders John Bordynuik to pay a penalty for improper distribution of securities
http://www.investmentexecutive.com/-/osc-fines-business-owner-125-000?redirect=%2Fsearch%3Fp_p_id%3Dsearch_WAR_search10%26p_p_lifecycle%3D0%26p_p_state%3Dnormal%26p_p_mode%3Dview%26p..




By James Langton | April 04, 2014 17:25

The Ontario Securities Commission (OSC) has ordered a man to pay a $125,000 penalty and banned him from serving as a director or officer of an issuer for five years in connection with an improper distribution of securities.

The OSC announced that it approved a settlement agreement with John Bordynuik concerning allegations that he carried out distributions of securities of his company, JBI John Bordynuik Inc., without filing a prospectus and without a proper exemption. It also alleged that he certified company financials that overstated the value of certain assets, and that he improperly utilized a trust account to distribute shares of JBI.

The settlement notes that Bordynuik says he relied on the expertise of financial advisors, including JBI's auditors, in certifying the financials. It also notes that he cooperated with the commission in this case, and that he "has already incurred significant penalties related to the issue of the misleading financial statements" in the U.S.

In 2013, a Massachusetts federal court entered final judgments by consent against Bordynuik and his company, ordering JBI to pay $150,000 and Bordynuik to pay $110,000 in civil monetary penalties. He was also barred from acting as an officer or director of a public company in the U.S. for five years. JBI and Bordynuik consented to final judgments, without admitting or denying the allegations against them.

Under the deal with the OSC, he is prohibited from acting as an officer or director of any reporting issuer for five years; and must pass the Partners, Directors and Senior Officers Course, before becoming a corporate officer again. He also agreed to pay an administrative penalty of $125,000 and $45,000 in costs.

[arvitar]

SEC CHARGES COMPANY AND ITS OFFICERS WITH ACCOUNTING FRAUD

The Securities and Exchange Commission announced today that it filed an action in federal court in Massachusetts against JBI, Inc., a publicly-traded company formerly located in Massachusetts and now headquartered in Ontario, Canada. The Commission also charged JBI’s current CEO, John Bordynuik, a resident of Ontario, Canada, and its former CFO, Ronald Baldwin, Jr, a resident of Palm Harbor, Florida. The action alleges that the defendants engaged in a scheme to commit securities and accounting fraud by reporting materially false and inaccurate financial information on the financial statements of JBI, Inc. for two reporting periods during 2009.
https://www.sec.gov/litigation/litreleases/2012/lr22220.htm

[arvitar]

In summary, the answer to your question is that the only ones not "negative" are those who have been willfully ignorig the mountain of evidence showing that everything about PTOI, from top-to-bottom, including it's technology, is a scam.

And that everyone ever associated in any way with this company and/or it's technology, since inception, has had only one goal: to perpetuate a scam.

I am asking myself why am I trying so hard when all of you are so negative

[arvitar]

I am doing my best to get contracts here in the US to make it a reality for all of us. The world needs our process and P2O. I am asking myself why am I trying so hard when all of you are so negative.

What actions are you taking to get contracts?

Why would you expect someone to give you a contract for something that doesn't work, and was invented by someone who has been deemed a fraudster by the SEC and OSC?

Why does the world need "our process", if it has never been shown to work feasibly, and relies on a secret catalyst that you don't have?

What do you mean by saying you're "trying so hard"? What major efforts are you putting forth?