Replies to post #60157 on Plastic2Oil Inc (PTOI)

[Risicare]

There was somebody else here around the time they went delinquent who seemed to have the whole process down and had talked to the lawyers about getting an opinion letter. They told him he had to wait till JBII was current. Which they now are. All you should need to do is get an opinion letter to get the restriction lifted.
Although at this point even the .80 placement holders are stuck.... The people who bought the 4.00 must be livid, would not be suprised if they sued, I would.

[PaperProphet]

Re:<"To my knowledge [as a pipe holder myself and as a friend of a dozen other pipe share holders], instructions have not yet been distributed to anybody to advise how to get them off restriction.">

As I said a few times before, experienced PIPE investors will have a concrete timeline in the term sheet for having the company register their shares via an S-1 or SB-2, with penalties to the company if they don't deliver on the registration by the determined date. Since you're waiting on instructions for how to get your shares off restriction, I'm guessing you now understand exactly how having that preparation could have helped you. There was another PIPE investor who posted here but I'm not sure if he understood that rationale.

Anyway, good luck to you. It may be a hard lesson but at least you will know for the next PIPE in which you decide to invest.

.

[Zardiw]

Bingo. Most of the trades today were buying. At prices made available by a classic short/walk down move:



Short data for today:

20100723|JBIIE|Short: 126,468| Volume: 251,122. Percent Shorts: 50.36%


.........z

[imaba]

Troy...........

To my knowledge [as a pipe holder myself and as a friend of a dozen other pipe share holders], instructions have not yet been distributed to anybody to advise how to get them off restriction.

Have you ever been advised as to how to get the share's off restriction yet?

[Fire Lane]

you need to get a lawyer to write a legal opinion re 144 eligibility to remove the restriction. then send the cert and the legal opinion to the TA to have the legends removed and the shares recerted back to you without legend. The hold period should be 6 months

Just FYI, hope this helps