Replies to post #43557 on Plastic2Oil Inc (PTOI)

[dipinvester]

There is no material change in the valuation of the media credits...that is per the 8k....the same 8k you are trying to use against JBII.

You can't have your cake and eat it too.

[b9molecule]

Media credits were valued at $10 million

On August 24, 2009, 310 Holdings, Inc. [now JBI, Inc.] (the “Company”) and Domark International, Inc. (“Domark”) closed a Securities Purchase Agreement (the “Agreement”) whereby the Company purchased 100% of the issued and outstanding common shares of Javaco, Inc. (“Javaco”), a wholly owned subsidiary of Domark, in exchange for $150,000 and the issuance of 2,500,000 shares of the Company’s common stock to Domark.
In connection with the Agreement, Domark has also assigned $9,997,134 of media credits in print and radio to the Company in exchange for the issuance of 1,000,000 shares of the Company’s common stock.
http://tinyurl.com/3xbguko

Share price was around 1.00 at the time.
What would happen if the credits are restated to be worth what they were purchased for? What if they are worth less? How does a restatement affect what the credits can be used for and how does that affect JBI's plans for advertising?

1 million shares bought the media credits and 2.5 million went toward the Javaco purchase. Both are being evaluated and restated.

http://tinyurl.com/26ckucm