Replies to post #54463 on Plastic2Oil Inc (PTOI)

[Troy--]

Hi Pipeholder.
its not 6 months from date of payment otherwise they'd have to go in and register all of these shares to be unrestricted on different days. It is 6 months from close of pipe. pipe formally closed dec 31st so the final day of restriction was supposed to be june 30th.

for the record too, I still havent received any response from the IR person to the question I emailed him.


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Dear Troy,

If and when your shares become eligible, there is a particular process that must be followed in order to lift the restriction. The company will provide this process to our shareholders shortly.

Thank you,

John Zervas
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John,


“If and when” sounds a bit uncertain. Is there a chance they will not become eligible for the restriction to be lifted?

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[laurap]

No representation was made by the company that they would file to register our shares.

according to the ceo, registration was not required for shares to be free trading.

"e-mail from John


JBII is conducting a small PIPE to payout all of the PakIt and Javaco debt and to have a number of P2O processors manufactured in China. This PIPE will close soon. Any stock purchased from the company is restricted for 6 months due to rule 144. You would not have to wait for a registration statement for the shares to be freely tradable. Registration of shares are usually requested so that warrants acquired in a PIPE can be executed and sold without restriction. There are no warrants in this PIPE.

As I've stated before, I will be exchanging most of my stock for
preferred so that the shareholders are not diluted when the PIPE is done.


Regards,

John Bordynuik
CEO
JBI'

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=43425676

[PaperProphet]

Re:<"No representation was made by the company that they would file to register our shares. In the OM, it says a 6 month holding period which I interpreted to mean July 1. I was told it was 6 months from the date of payment and that I had to register the shares using Jaclin & Anslow.">

Sorry to hear that. Typically PIPE investors won't invest without receiving a written timeline from the company for registration of those shares they're purchasing, including some sort of penalty if the company doesn't deliver on that registration when they say. At some point I'm guessing you'll understand why.

Good luck.