Replies to post #310781 on Plastic2Oil Inc (PTOI)

[arvitar]

Well, let's clear up a couple of misconceptions about Heddle.

First, what's apparent from the news stories that are publicly available, is that Heddle sought investors to put money into his business, and they came in on terms that required him to step aside from running his company. He took a demotion to COO, and some kid, Shaun Padulo, has been running Heddle Shipyards for the past 3 years. So Heddle might not be as universally regarded as being an awesome businessman as believed by the common folk around Hamilton.

Second, it's not conceivable that Heddle wasn't in on the P2O scam from its beginning. Nobody really believes that Heddle intended to retrofit his ships with nonexistent processors that relied on a Magic Catalyst, sail the Atlantic, and recover plastic from the ocean floor at an average depth of 3,500ft, do they?
https://www.globenewswire.com/news-release/2009/12/22/411271/11616/en/JBI-Inc-Executes-JV-LOI-With-Rick-Heddle-Signs-LOI-for-45-Florida-P2O-Sites-and-Will-Apply-for-ASE-Listing.html

https://www.plastic2oil.com/site/news-releases-master/2010/02/12/jbi-incs-p20-marine-inc--rick-heddles-rwh-marine-consulting-inc-sign-principal-definitive-contract-for-a-p2o-ship-development-agreement-sda

Third, Heddle withheld material information from the investing public after the processors blew up, allowing everyone to continue thinking that P20 was operational and producing oil for six months after it had shut down all operations.

Nor does anyone really think Heddle believed that Bordynuik found a lost Magic Catalyst on a magnetic tape from 1970 that would revolutionize the pyrolysis industry, do they? A fairy tale told by a guy who was nailed for fraud by two different regulatory agencies in two different countries?

In other words, it's not inconsistent for someone to be a respected and competent business man, and to also be actively involved themselves in perpetrating a scam targeting the absolute dumbest in society.

I mean, the successful and competent billionaire Tom Barack was just indicted for being an agent working at the direction of a foreign power. It's not like he needed the money.