Replies to post #77998 on Plastic2Oil Inc (PTOI)

[tykundegex]

I agree with you scion, so was I!

"Michael Kaplanis commented, "When I studied JBI's business model, I was immediately impressed with the Company's dynamic growth potential and, in particular, the global expansion possibilities that I envision for its unique P2O technology."...

[P51-D]

......And this guy's now sueing JB....???????????.......Sounds to me like it's sorry / poor non=performance on Kaplanis part to me........LOL!!!!!

[Ranb2khz]

It is most unfortunate for Mr. Kaplanis that he botched his opportunity of a lifetime to be part of something as grand as JBI is going to be.

Section 1.(e) of the alleged Employment Agreement would be enough to dismiss the case:

1. POSITION/DUTIES.

(e) During the Employment Term, the Employee shall use his best efforts to perform his duties under this Agreement and shall devote all his business time, energy and skill in the performance of his duties with the Company. The Employee shall not during the Employment Term (except as a representative of the Company or with consent in writing of the board) be directly or indirectly engaged or concerned in any other business activity.

http://viewer.zoho.com/docs/gccRod

It would appear that Kaplanis may have breached his contract by forming an investment group while gainfully employed with JBI.

Michael P. Kaplanis

Founder and Managing Director

Michael Kaplanis is the founder of Revma Investment Group and serves as its Managing Director. Before establishing Revma in 2010, Mr. Kaplanis was employed as a Senior Associate in the Global Equities Energy & Utilities Group with Citadel Investment Group in Chicago, IL. He joined Citadel as an Associate and was promoted to Senior Associate at the end of 2008. During 2009, Mr. Kaplanis became responsible for research coverage of companies in the regulated utility, diversified utility, merchant power and electric service subsectors of the U.S. Utility Industry for Citadel. While at Citadel, he provided fundamental research and investment insight to the Portfolio Manager and his team. Prior to joining Citadel, Mr. Kaplanis served as an Investment Banking Analyst in the Global Power and Utilities Group with Morgan Stanley in New York, NY where he performed analysis of corporate mergers and acquisitions, asset acquisitions and divestitures, equity and debt offerings, leveraged buyouts, credit assessments, dividend analysis and share repurchases. While at Morgan Stanley, Mr. Kaplanis also worked on an initial public offering of a clean technology company. Mr. Kaplanis received his Bachelor of Arts from Duke University where he graduated Phi Beta Kappa and Summa Cum Laude with a degree in Biological Anthropology and Anatomy and a minor in history.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=55433238

Of course, all of this has been discussed previously:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56018448

[fourkids_9pets]

and no one has to go any farther
than listening to MK's comments
in rt (real time) from this CC as
to his feelings about JBI

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http://jbiglobal.com/investor-relations/20100213-conference-call-recording.aspx

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as i posted to you last week and previously on this topic

suspect MK was hired one year too soon and didn't
appreciate *twiddling* his thumbs while sensors
and permits created delays no one foresaw including
MK and mgmt .. it happens at this level of the process
and i doubt either side will make that mistake *again*

it's part of the learning curves being mastered

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what i'd expect is an agreement in due course
since the only ones most likely to benefit on
both sides are the legal fees that accrue daily
for respective legal teams .. imo eventually
that too will resonate with both parties

--
4kids
all jmo