Replies to post #55925 on Plastic2Oil Inc (PTOI)

[techisbest]

But again, posters can go back and forth on the financials and permits all year and make cases how Mr. Bordynuik is either highly credible or not to be trusted at all. I would encourage everyone to instead stay laser-focused on the suggested value proposition--whether or not JBII's claims of making a saleable product for less than $10/bbl and selling it for $80/bbl are valid or not.

There ya go.

And so we continue to wait.

[Rawnoc]

Dead wrong completely.

The. Bew 10K merely recognized revenues SINCE acquisition. But the revenues for the individual businesses themselves for the entire year 2009 remain unchanged. $13.4 million is what they did in the year. $3.9 million is what they did "since the acqusition date"

Cash actually went up. I`ll copy and paste the parts from the 10K later if ypu`re still having treouble understanding it. There was pending subscriptions, similar to escrow, that hadn't technically cleared by dec 31, 2009 but cleared shortly afterwards. Some like to foolishly claim the cash "disappeared." Some are greatly mistaken.

[Pipeholder]

Bang on with your last comment PP:

"But again, posters can go back and forth on the financials and permits all year and make cases how Mr. Bordynuik is either highly credible or not to be trusted at all. I would encourage everyone to instead stay laser-focused on the suggested value proposition--whether or not JBII's claims of making a saleable product for less than $10/bbl and being able to sell it for around $80/bbl are valid or not."

It's all that matters now.

[laurap]

I would encourage everyone to instead stay laser-focused on the suggested value proposition--whether or not JBII's claims of making a saleable product for less than $10/bbl and being able to sell it for around $80/bbl are valid or not.

now that is the bottom line.

Message in reply to:

Posted by: PaperProphet Date: Saturday, July 10, 2010 5:45:01 PM
In reply to: Rawnoc who wrote msg# 55876 Post # of 56251

Re:
Quote:
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Maybe you need to learn how to read a 10K.

I'll give you the heads up...

(1) Go to pro-forma numbers in the 10K and match them to the old 10K. Sales and net loss of $27,234 match to the PENNY.

(2) Cash. Match 'em up. I haven't bothered to check if it matches to the penny, but the cash in escrow and cash pending that both cleared a couple of weeks after the 10K matches the old 10K.


Very frustrating to see them execute so perfectly and the longs be so dead on balls accurate. I know. I'm sorry. :)
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Rawnoc, I just read the 10K's and I don't know why all of your posts are so far off the mark. I wish someone would stay here and correct your posts. Any newcomers are getting bad information.

First, the old 10K specifically says $13.4 million in sales. The amended specifically says sales are $3.9 million--but has a new "pro forma" breakout. You're using amended data compared to amended data to assert that they "execute so perfectly." That's off the mark. Please remember that amended data and pro forma breakout wasn't available to anyone who thought JBII was doing pretty well based on $13 million in stated revenues.

Second, even totaling the escrow, cash specifically went from $4.06 million in the 10K to $3.15 million in the amended. It may not be impossible to screw up the cash but it's hard. Somehow JBII managed to make that mistake. It would have been nice to hear the excuse for that.

Third, and this has nothing to do with your errors, but pro forma data needs to be specifically contrasted to GAAP. As you can see, JBII clearly missed this requirement. I would guess there's a fair chance that Mr. Bordynuik might be forced to file yet another amended 10K to correct that omission.

But again, posters can go back and forth on the financials and permits all year and make cases how Mr. Bordynuik is either highly credible or not to be trusted at all. I would encourage everyone to instead stay laser-focused on the suggested value proposition--whether or not JBII's claims of making a saleable product for less than $10/bbl and being able to sell it for around $80/bbl are valid or not.

.