Replies to post #124139 on Plastic2Oil Inc (PTOI)

[quarterdeck1]

lets break it down a bit

On July 14, 2011, the staff of the Securities and Exchange Commission’s (SEC) Division of Enforcement issued a “Wells Notice” to JBI, Inc., ( the “Company”) indicating that the staff intended to recommend that the SEC file a civil lawsuit alleging that the Company violated certain provisions of the federal securities laws .

(indicating that the staff intended to recommend)

The Company took a number of proactive steps in connection with the restatement,

including hiring additional accounting staff members

retaining a reputable top-30 accounting firm(WithumSmith+Brown) to provide relevant expertise

and upgrading its accounting software.

Under the SEC’s procedures, a Wells Notice indicates that the SEC Enforcement staff has decided to recommend instituting litigation,

but the Commission itself has not decided whether or not to approve such a recommendation

nuff said?




congrats to who ever snagged 23k at 1.40