Replies to post #46143 on Plastic2Oil Inc (PTOI)

[puppydotcom]

they certainly have the opportunity to prove that .. starting by curing the "E" .. and switching auditors .. at filing deadlines .. seems a bit strange to me .. what happens if the filings must be restated?



http://jbiglobal.blogspot.com/2010/05/jbi-ceo-discusses-recent-auditor-change.html

may 19 ..
Our business plan has not changed from what it was last year. Our stock has always whipsawed all over the place (volatility, exchange, volume, etc...) and I believe it will continue to do so until permits and some production is booked. The uplist requirements are average volume, not must trade above $4 for every trade for 90 days. Changing auditors now is a heck of a lot easier than when in the middle of P2O rollout. Watching our stock price constantly or reacting to it for a short-term gain would be bad for the company long-term.



may 31
John Bordynuik comments:
If I could tell you I would. Like many companies, we are faced with making decisions that will benefit the company greatly long-term and possibly at a short-term cost. This is one of those situations. It's great for long-term shareholders. At the last AGM, I explained what we did over the last year, our challenges and the result of scaling a lab unit to a full production processor. Decisions made over the past year were for long-term share holders, not short-term stock prices. At the next AGM (probably sooner), I'll be able to explain why we changed auditors on May 13th - it was a classic risk vs. reward. I'm not happy about the timing but in reality everything can't always be picture perfect.

------------------------------------------------
Item 4.01 Changes in Registrant’s Certifying Accountant.

(a) Dismissal of Previous Independent Registered Public Accounting Firm.


i

On May 14, 2010, we dismissed Gately & Associates, LLC (“Gately”) as our independent registered public accounting firm. The Board of Directors of the Company approved such dismissal on May 14, 2010.


ii

The Company’s Board of Directors participated in and approved the decision to change our independent registered public accounting firm.


iii

Gately’s reports on the financial statements of the Company for the year ended December 31, 2009 did not contain an adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles.

http://www.faqs.org/sec-filings/100514/JBI-INC_8-K/

[Scandle34]

stu, it is VERY appropriate to make an investing decision based on that. The "better safe than sorry" maxim certainly applies.

However, it is way beyond any reason to make a carreer out of libel from these most tenuous threads of similarity.

FWIW, Turino, Lo Casto and Cassavant were very approachable and charismatic people. between them they stole close to a billion. $90K of it was from me.

Not one thing John has done even comes close. The mystery catalyst is the only operations "red flag" of passing interest and Islechem more than mitigates it..

The "E" is an ugly thing that I find very hard to put up with. It is, by definition, a red flag. How ironic if they did it because John abstained from a shareholder vote that went against the board's recommendations to stick with gately for now... That would be the biggest slap at democracy ever.