Replies to post #144775 on Plastic2Oil Inc (PTOI)

[Rawnoc]

"P2O is the whole story here. If/when 3rd party verification confirms John's forecasts, the sky's the limit; imagine the value of converting waste plastic, an environmentalists holy grail and a stand alone technology that has nothing resembling competition anywhere in sight. The growth potential here rivals that of the microchip."

"If the P20 process works, is permitted and runs successfully and continuously for more than 3 months with no surprises that require a shut down or tweak, I don't think they'll be raising money at .80 a share"

"I disagree- JB has turned his back on the tape biz. Pak It and Javaco? let's face it: nobody bought in because of the explosive growth potential in cleaning products.

P20 is the whole enchilada"



I couldn't agree with you more. I believe your own answers answers all your questions.

[easytiger]

What does COO Jacob Smith actually do besides cost us $100k / year? I'd like to hear his answer to that.

I'm sure he spends all his waking minutes alongside Bordynuik, and that's probably the problem - he's riding Bordynuik’s coattails. Smith might be a nice guy, but this is business, the amount of time spent on something isn't what matters - results are what matter - In fact, spending less time to get the same results is even better. In Smith's case, if he spends 14+ hours by Bordynuik's side, this looks even worse for him! At least if he wasn't working he could use that as the excuse for why the company unwittingly dumped millions of dollars of investors cash into failed operations he was supposed to be cleaning up, and some 50 odd people at Pak-it lost their jobs since Sept 09.

The ultimate measurement of effective leadership is leaving something in better shape than when you took it over. Given the company's operating performance to date, I think it would be a travesty for shareholders if Jacob Smith's contract is renewed come Dec 31.

If the past is any indication of future operational performance, well...the facts are that the company has had poor operational performance to date, spent cash in unnecessary areas, and is now embarking on an even greater, first-time, operational project where managing resources and delegating roles is going to be crucial to performance -

I'd much sooner pay $250k for an experienced COO, or pay $100k for an equally talented younger, hungrier COO that can successfully: manage operations, sell the subsidiaries, set up deals, apply to a Canadian stock exchange, effectively lift the burden from Bordynuik's already heavy shoulders.

Given the assessment, I think Bordynuik should, ASAP, surround himself with an executive and BOD team that reflect on his passion for plastic2oil and have the business acumen to be proactive rather than reactive to operations, financial reporting and the like.

I love plastic2oil and think Bordynuik is a brilliant guy, but he can't do it all himself, he needs a capable team that he can trust to rely upon to execute. Based on the current executive team and BOD (or lack thereof) and the results of operations to date, I would like to see Bordynuik take time away from the machine to spend on an executive and BOD talent search. Even if that means an immediate outlay of cash and flying around (or driving to Toronto) to interview. It's worth it. Failing to prepare is preparing to fail, evidenced here by the company’s performance to date. Bordynuik will not be able to baby the machines at Rock-Tenn, etc. like he does on the one in Niagara. Getting the right people in place internally before taking on major projects like the Rock-Tenn one is paramount.

Results matter. I want the company to flourish rather than flounder during this next crucial stage of their development.