Replies to post #12751 on Plastic2Oil Inc (PTOI)

[Ranb2khz]

"Please email me at [e-mail]"

John Bordynuik:

"Authorized shares were increased so that we can increase preferred stock so that I can maintain control. I will be returning a great portion of my shares to preferred as I have no interest in selling them. (Our preferred is only 5M shares). We have no convertible debt or anything that would damage our issued share coun...t. At the end of this process, I will always own 51% of this company to control it."

November 9 at 10:16pm

[Estimated_Prophet]

The PIPE is stealing open market buying from us here. The seller is suppose to be previous shell holders and retail players that give up. I think it makes sense, but if it this goes the wrong way, we'll certainly look back at it as one of the key warning signs.

JB needed maintain 51% ownership of the company, and the reduced O/S, with preferred shares, helps us get to another exchange quicker, while JB keeps his controlling interest. We are told it will be around 50 million O/S when all is said and done(PIPE plays into this).

Then, the increased A/S reason was given here:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=43481345