Replies to post #122716 on Plastic2Oil Inc (PTOI)

[Rawnoc]

Yes, the RESTATEMENTS were NON-CASH. You think otherwise?

Then you think falsely. The restatements corrected lines on the financials for NON-CASH accounting numbers such as Goodwill, media credits, etc. Not a single penny of CASH items were affected. Real accounting fraud involves making up sales, earnings, hiding cash debt, making up cash balances, SOMETHING. Not non-cash numbers.

JBII used incorrect accounting methods -- reverse merger accounting where they should have used forward merger accounting which had zero effect on revenues, cash flows, etc. The amount they paid (cash) for everything remained unchanged with the restatements. The way the non-cash items were expensed were restated SIX WEEKS after the 10K was filed.

I know this makes for a lousy conspiracy theory and after 2 years of people spending 24/7 trying to find something -- anything -- turned into nothing at all, and I know it's extremely disappointing for a bear to do all that work for nothing....but it is what it is. Onward and upwards. :)

[dreaminbig]

The SEC didn't "say" anything. The company filed an 8K saying they received a Wells Notice and what they think the reason is. Have you been privy to a copy of the Wells Notice?

...the Company believes that the proposed lawsuit....

The SEC just admitted right to your face that JBII has done nothing wrong in the last 2 years