Replies to post #142054 on Plastic2Oil Inc (PTOI)

[Toxic Avenger]

http://ihwiki.advfn.com/index.php?title=FAQ:Deletions_and_Restores#This_one_lady_never_uses_.22IMO.22_.28In_My_Opinion.29_.E2.80.93_she_states_everything_as_if_it.27s_fact_and_it.27s_not.21
"This one lady never uses "IMO" (In My Opinion) – she states everything as if it's fact and it's not!
It is understood that all posts on the site are to be considered opinions. They do not need to indicate this in their posts."

However, even if you believe that in fact a delay in filing indicates a strong focus on financials by the company, or likely great news, I think you'll agree, in most cases, it's more of a red flag than a green light.

A "red flag" is simply a warning sign or negative sentiment, not suggesting the company will be shutdown, delisted or anything else dire.

[loanranger]

NOTIFICATION OF LATE FILING
FORM 12b-25
http://sec.gov/Archives/edgar/data/1381105/000121390011004454/extf10q0611_jbi.htm

"If the 10Q is not posted then a 10-Q NT will and should be filed to extend JBI's time to file within SEC's timeframe. IMO late would be past SEC guidelines/timeframe. "


It's called a NOTIFICATION OF LATE FILING for a reason......the filing's gonna be LATE.

[Rawnoc]

JBII uses an outside accounting firm as well as their auditor's review for their 10Qs. If they file a routine extension again that they've been doing every quarter for a while now, then most likely it's because their outside firm is still reviewing the 10Q. At the AGM John said they're not going to make extra expense to get the filings out earlier and would rather use the money toward building P2O, but the filings will indeed all be done.

As for what filing a 5 day extension means? I've said this before, and I'll say this again -- the very last time with another company I owned there was a heated debate on what that means the penny stock, ironically, got bought out in an all cash buyout for a massive premium shortly after the debate proving that the NT was meaningless.

[RiskGuy]

I believe I recall a post that said John mentioned at the ASM an intent to file late because it is more expensive to pay the accountants to file on time when the deadline comes at a premium. He intended to save the difference in accounting costs - a prudent decision IMO when the company is operating at a loss. I believe late filing has nothing to do with whether it is "bad news" or a poor focus on accounting. He told us in advance what to expect as a routine so the follow-through isn't newsworthy as an omen of bad tidings. It just is what is.