Replies to post #50006 on Plastic2Oil Inc (PTOI)

[techisbest]

Any chance this is related ...

http://www.mfa-cpa.com/mfa-news-and-resources/financial-reporting/financial-reporting-sox-404b-extension-oct09.asp

Compliance to Begin June 15, 2010
On Friday, October 2, 2009, the SEC announced an extension for small public companies to comply with Section 404(b) of the Sarbanes-Oxley Act. Companies with a market cap of less than $75M (“non-accelerated filers”) and their independent auditors will need to report on the effectiveness of their internal controls beginning on or after June of 2010.

The requirement for compliance with Section 404(b) will now be effective beginning with the annual reports of companies with fiscal years ending on or after June 15, 2010. This delay means that non-accelerated filers with fiscal years ending on or after December 15, 2009 through June 14, 2010 will have an additional year before they need to include the auditors’ attestation report on internal controls in their annual report on Form 10-K.

[laurap]

A registration statement would be ab S1 or otherwise. The statements by the CEO relate to the US provisions of Rule 144 assuming they do not go PINK. Canadians can rely on Reg S with a lawyer for the letter. US holders can employ private sale under State Law at any point or will have to wait 12 months if it goes pink.

thank you for the clarification.

Message in reply to:

no laura. A registration statement would be ab S1 or otherwise. The statements by the CEO relate to the US provisions of Rule 144 assuming they do not go PINK. Canadians can rely on Reg S with a lawyer for the letter. US holders can employ private sale under State Law at any point or will have to wait 12 months if it goes pink.

personally, anyone that wanted to "sell" and had enough shares to be worth the effort already has. Even I could find an MM that would trade on my behalf against the restricted shares if it was $50K or so. To that end, a scam artist like Kidd has been liquid since $5 the first time it hit. Any "short" being cried over here is a symptom of that.