Replies to post #67874 on Plastic2Oil Inc (PTOI)

[Rawnoc]

If you do better DD on Agilyx, you'll learn they had to partner because they couldn't process the plastic properly and needed help. Looks like that $42/barrel of their original cost estimate for their $5.6 million monster run by up to 28 employees just went up in cost per barrel.

How much fuel have they produced in the last 2 years by the way? 4 tankers is all I could find. JBII will make more than that in a week with a $200,000 processor operated by 2 employees.

[Steady_T]

Looks like Green envirotech has more than one firm it is planning to use for plastics recycling.

8/16/2010 - Green EnviroTech Inks Exclusive Licensing Deal With Ergonomy LLC
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NEW YORK, NY--(Marketwire - July 8, 2010) - Green EnviroTech Corp., a leading plastics recovery, separation, cleaning, and recycling company, and a wholly-owned subsidiary of Wolfe Creek Mining, Inc. (OTCBB: WCRM), today announced it has signed an exclusive deal to license a patent pending recycling technology from Ergonomy LLC of Wisconsin.

The deal combines Ergonomy's powerful technology with Green EnviroTech's unique patented process to help reduce the amount of shredder residue (SR) going to landfills by 50 percent. It also significantly reduces carbon footprints by allowing businesses to utilize recycled materials in their own products.

Recovered plastic from SR contains PCBs, lead and other contaminants that are classified as hazardous waste by the EPA which has historically been impossible to remove. The proprietary method from Ergonomy is the first of its kind to isolate contaminants from plastic and rubber materials before they are further processed or separated, effectively removing the PCBs without harming the plastic, and thereby eliminating the potential for contamination.

Green EnviroTech expects to incorporate the Ergonomy technology as a key process in its proposed Fond Du Lac, WI facility.

"We are pleased to partner with Ergonomy LLC to help further address the explosive demand for recycled plastic which has increased dramatically over the past decade," said Jeff Chartier, President, Green EnviroTech. "With this exclusive deal, we are able to put the recycled plastics back into commerce at even lower levels than the EPA standard."

[Steady_T]

Looks like the first time WCRM tried to partner with Agilyx it didn't stick, so they are trying again.

Form 8-K for WOLFE CREEK MINING INC

8-Jun-2010

Entry into a Material Definitive Agreement, Financial Statements and Exhib


Item 1.01 Entry into a Material Definitive Agreement.

Wolfe Creek Mining, Inc.'s wholly owned subsidiary, Green EnviroTech Corp. ("Green EnviroTech"), entered into (i) a First Amendment to Plas2Fuel License Agreement, dated May 18, 2010, with Plas2Fuel, Inc. ("Plast2Fuel"), a Washington corporation (the "Plas2Fuel Amendment"), (ii) a License Agreement, dated April 30, 2010, with Ergonomy LLC ("Ergonomy"), a limited liability company organized under the laws of the State of Wisconsin (the "Ergonomy Agreement"), and (iii) a License Agreement, dated May 18, 2010, with Thar Process, Inc. ("Thar"), a corporation organized under the laws of the Commonwealth of Pennsylvania (the "Thar Agreement").

Pursuant to the Plas2Fuel Amendment, Plas2Fuel agreed to grant to Green EnviroTech the exclusive right to the auto shredder residential market within North America, subject to the terms set forth in the Plas2Fuel Amendment, for a period commencing on May 18, 2010 and expiring on January 1, 2021.

Pursuant to the Ergonomy Agreement, Ergonomy granted Green EnviroTech an exclusive royalty-bearing license to use certain technology in the field of processing plastic and rubber from shredder residue in the United States of America and Canada for each of the following: (a) to develop, use, lease, sell, import, export and market Products (as defined therein), and (b) to develop Improvements (as defined therein). For the license granted thereunder, commencing at the third year of the term, Green EnviroTech must pay to Ergonomy running royalty fees in an amount equal to $0.005 per pound of shredder residue as set forth in the Ergonomy Agreement.

Pursuant to the Thar Agreement, Thar granted Green EnviroTech a royalty-bearing license to use certain technology in the field of processing plastic and rubber from shredder residue in the United States of America and Canada for each of the following: (a) to develop, use, lease, sell, import, export and market Products (as defined therein), and (b) to develop Improvements (as defined therein). For the license granted thereunder, commencing at the third year of the term, Green EnviroTech must pay to Thar running royalty fees in an amount equal to $0.00875 per pound of shredder residue as set forth in the Thar Agreement.



Item 9.01. Financial Statements and Exhibits.

10.1 First Amendment to Plas2Fuel License Agreement, dated May
18, 2010, by and between Green EnviroTech and Plas2Fuel,
Inc.


10.2 License Agreement, dated April 30, 2010, by and between Green EnviroTech and Ergonomy LLC

10.3 License Agreement, dated May 18, 2010, by and between Green EnviroTech and Thar Process, Inc.

[Steady_T]

WCRM excerpts from the last Q

Not a very strong partner for Agliyx.

As a result of the above, the Company had a net loss of $1,065,445 since inception through March 31, 2010.

Liquidity and Capital Resources

Year Ended December 31, 2009 Compare to Three Months Ended March 31, 2010

The following table provides selected financial data about our Company for the
year ended December 31, 2009 and the quarter ended March 31, 2010.

Balance Sheet Data: 12/31/09 3/31/10

Cash $ 23 $ 186,090
Construction in Progress $ 60,073 $ 69,135
Total assets $ 60,096 $ 255,225
Accts payable accrued expenses $ 354,095 $ 562,266
Loan Payable - Other $ 300,000 $ 335,000
Loan Payable - Related Party $ 270,290 $ 591,606
Total liabilities $ 924,385 $ 1,488,872
Shareholders' equity $ (864,289 ) $ (1,233,647)

[BeerIsGood]

Wonder how all these are related? Here's part of the article written in Aug. 2009. They expected to begin Oct. 2009 and have not broke ground yet for the 25 million dollar facility.

There’s significant value to be found from auto shredder residue (ASR), if a new plastics recycling operation in Fond du Lac, Wisconsin proves to be the model for profitable recovery. And, it appears this venture has the partners and the technology to make it happen. EnviroPlastics Group, a subsidiary of Plastics Conversion Technologies headquartered in Spokane, Washington and Plas2Fuel Corporation, based in Kelso, Washington are teaming up to merge dedicated ASR sorting and cleaning with a chemical process that recycles plastics not suitable for resin markets into synthetic crude oil.

http://www.americanrecycler.com/0809/value.shtml

Check fdlreporter.com; Feb 11, 2010 and Green EnviroTech Corp. plans to break ground in Fon du Lac, WI with a $26 million plant and be completed in June, 2010. This plant has not been starter yet either.

Lots of things not happening from Green Envirotech.