Replies to post #152031 on Plastic2Oil Inc (PTOI)

[WD45]

Ok, so if this sec deal is so bad then why is it taking so long to do something about? Why would they let him continue? Its been 2 years and change hasn't it. So if they are guilty what are they going to do about? Fine them into the stoneage. Put em in front of a firing squad. Come on, tell me whats going happen so l know what to do with my shares.

[fourkids_9pets]

have fun :)

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70429361

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4kids
all jmo

[Rawnoc]

"The restatement concerned the Company's valuation of media credits, accounting for certain acquisitions, and equity issuances."

I love the emphasis on the comma -- but I got a better one. The entire sentence describes "the restatement" -- nothing more. The valation of the equity issuances were restated -- not the number of shares.

Remember, the sentence begins... "The restatement concerned..."

Equity issuances is part of that restatement, and the only thing restated about them was the accounting treatment of them. Nowhere in filings does it say it relates to anything about a 2010 private placement.

"The Company does not anticipate that the notice will negatively impact its business operations."

[Steady_T]

Yeah, that's right.... Never mind that the accounting firm told him that is how it should be done.

The CEO is always supposed to know more than the accounting firm. That's why companies hire them, so they can tell the accounting firm how things are supposed to work.

By the way Mr. Research what was the name of the accounting firm that signed off on that accounting treatment?