The only reason it has appreciated is because there are most likely speculators buying because it has appreciated thinking there’s something in the works when there really isn’t. The agreement that was signed in October 2019 has produced no results. Read my sticky post...
For newbies, this is all you need to know...
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.
For those new here, 'he' is John Bordynuik, the founder of the company who got a officers/directors ban for five years for fraud and robbed his childrens' trust fund accounts by giving away their stock to others...
actually jlu, the best news is that ...despite the gab, nobody is selling at these levels...why? To be honest, there are plenty of people who bought into this at a much higher SP...and it's true...call them bag holders or long term investors, there are few shares to be had at this level. Selling just isn't happening...and to be honest, there is limited buying, probably by long term holders, but they haven't lost hope, and stubborn as I've ever seen. There is a product here...check Heddle Marine for CEO's "other" business. http://heddleshipyards.com/ He's not playing...it's just not "happening" at the moment...and with the green energies and save the planet wave coming in...PTOI is smack dab in the middle of this. At a few pennies/share...the risk is minimal! The upside...HUGE!
There are claims to a naked short position of 100M....two years ago..this went to .11 over a couple days...why? who knows!! I sense the same scenario again...
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