Replies to post #153700 on Plastic2Oil Inc (PTOI)

[BRIG_88]

The complaint is a complete and total embarrassment for the sec imo....it's poorly written,vague and amateurish at best.....this is going to be made to go away before it stinks up the whole room and makes both sides sick.....just stinkin'

[Street Smarts]

They already tried to settle, per the JBII press release. SEC rejected, likely bc they saw intent.

Your analogy of the wells notice being a parking ticket was not even close to accurate, by the way. Maybe a parking ticket for driving your car into the white house, with "juicy" intent.

[loanranger]

"Total "ill-gotten" gain given back including interest? Comes out to 8.3% of the private placement: "

http://sec.gov/litigation/litreleases/2011/lr21808.htm

Did you not expect anyone to read the link (like that "media credits not in the prospectus" snafu)?

Here's where your 8.3% came from:
"the companies raised approximately $2.9 million through offerings"
"Nyce consented to a permanent injunction, and will pay $242,339 in disgorgement and prejudgment interest,"
($242K/$2.9M = 8.3%)

What happened to the rest of that sentence?
" and a $65,000 civil money penalty. Petitti consented to a permanent injunction and will pay a $25,000 civil money penalty."
And the entire previous sentence regarding the rest of the defendants?
"Petroleum Unlimited, Petroleum Unlimited II, and Kimmel, have consented to permanent injunctions and will pay disgorgement plus prejudgment interest, and civil money penalties in amounts to be determined by the court at a later date."


That's more than a little misleading, but THIS is just goofy:
"And, yes, most SEC settlements happen AFTER the litigation release. The failure to reach a settlement with the regional office prior to the litigation release is common whereas making it to court is rare."

The existence of a Litigation Release signifies that a civil lawsuit has been brought by the Commission in federal court.
This sentence all by itself is oxymoronic:
"The failure to reach a settlement with the regional office prior to the litigation release is common whereas making it to court is rare."
A failure to reach a settlement prior to the the litigation release is THE REASON that a complaint is filed and results in a litigation release.