Replies to post #56996 on Plastic2Oil Inc (PTOI)

[SteveF]

These assets weren't patents, they were office furniture, tape drives, computer eqpt, and $40k in P2O stuff.

To suggest any of that has value above what it's accounted for is silly.

[PaperProphet]

Re:<"You still don't understand basic accounting 101 that says the "value" of something on the books only means its cost. Nobody "valued" the assets at $360,000...">

Well, I understand that there's a special category, media credits, which defy all basic accounting principles and companies can assign any value to them that they want. Even if they want to pull some wild number like $10 million then it's no problem--as long as nobody notices.