Replies to post #125239 on Plastic2Oil Inc (PTOI)

[capital gain]

different fines structure, as laid out by the SEC for tier 1,2 and 3 violations.

highest one is $500,000.00

Not to concerned if that is the highest amount.

http://www.sec.gov/about/offices/oia/oia_enforce/selpro.pdf

Commission pursuant to section 78u–3 of this title, other than by committing a violation subject to a penalty pursuant to section 78u–1 of this title, the Commission may bring an action in a United States district court to seek, and the court shall have jurisdiction to impose, upon a proper showing, a civil penalty to be paid by the person who committed such violation.
(B) Amount of penalty.—
(i) First tier.— The amount of the penalty shall be determined by the court in light of the facts and circumstances. For each violation, the amount of the penalty shall not exceed the greater of
(I) $5,000 for a natural person or $50,000 for any other person, or
(II) the gross amount of pecuniary gain to such defendant as a result of the violation.
(ii) Second tier.— Notwithstanding clause (i), the amount of penalty for each such violation shall not exceed the greater of
(I) $50,000 for a natural person or $250,000 for any other person, or
(II) the gross amount of pecuniary gain to such defendant as a result of the violation, if the violation described in subparagraph (A) involved fraud, deceit, manipulation, or deliberate or reckless disregard of a regulatory requirement.
(iii) Third tier.— Notwithstanding clauses (i) and (ii), the amount of penalty for each such violation shall not exceed the greater of
(I) $100,000 for a natural person or $500,000 for any other person, or
(II) the gross amount of pecuniary gain to such defendant as a result of the violation, if—
(aa) the violation described in subparagraph (A) involved fraud, deceit, manipulation, or deliberate or reckless disregard of a regulatory requirement; and
(bb) such violation directly or indirectly resulted in substantial losses or created a significant risk of substantial losses to other persons.
Equitable Relief.
Section 21(d)(5) of the Exchange Act of 1934.
— In any action or proceeding brought or instituted by the Commission under any provision of the securities laws, the Commission may seek, and any Federal court may grant, any equitable relief that may be appropriate or necessary for the benefit of investors.

GLTA.

A.H

[quarterdeck1]

did you see this 8k released today!?

Item 1.01 Entry into a Material Definitive Agreement.

On July 29, 2011, JBI, Inc. (“JBI” or the “Company”) and RockTenn Company (“RockTenn”) entered into a Master Revenue Sharing Agreement (the ‘Agreement”) for a ten (10) year term with an automatic 5 year renewal term.

In accordance with the terms and provisions of the Agreement, JBI has an exclusive 10-year license to the following:
1. Build and operate Plastic2Oil processors at RockTenn facilities.
2. Process RockTenn's waste plastic from paper mills and material recovery facilities (MRF).
3. Mine and process plastic feedstock from plastic-filled monofill sites.
4. Monofill sites contain years of waste plastic from mills.
5. Waste plastic from RockTenn facilities exceeds thousands of tons per day.

The foregoing description of the Agreement is not intended to be complete and is qualified in its entirety by the complete text of the Agreement attached as an exhibit to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

10.1 Master Revenue Sharing Agreement between JBI, Inc. and RockTenn Company dated July 29, 2011.*

* Certain Confidential Information contained in this Exhibit was omitted by means of redacting a portion of the text and replacing it with an asterisk. This Exhibit has been filed separately with the Secretary of the Securities and Exchange Commission without the redaction pursuant to a Confidential Treatment Request under Rule 24b-2 of the Securities Exchange Act of 1934, as amended.