Replies to post #161521 on Plastic2Oil Inc (PTOI)

[5dollars]

WoW. The brokerage firm holds shares for the customer in the brokers name. The brokerage firm is responsible to produce the shares that they hold for the customer. The individual share holder can request the share certificates to be physically delivered (for a fee). If the broker decides to nss multiple times the float the brokerage firm is still responsible to produce the shares.

If the brokerage firm becomes insolvent due to their risk management there is insurance. In Canada it is the CIPF. They insure up to 1 Million in your account. JBII is an eligible equity.

What you wrote sounds scary. I hope this helps.

[wEaReLeGiOn]

The PIPER'ers are the most likely group to short a stock they're PIPE'd into as a hedge. We know that 'sophisticated' investors can use their holdings as collateral on the OTC, so it is very easy to borrow against their restricted PIPE shares. I didn't see any anti-shorting provisions mentioned by JBI in their filings. Putting an anti-shorting provision within equity financing agreements is a common thing to do these days. Back a number of years ago few companies thought to add this provision. It was a common tactic by nearly all Hedge funds, and there were a couple that were notorious. I forget the one (something or other partners, or capital, that recently changed their name), you might remember.

Naked shorting on the OTC, nearly impossible.

Naked shorting of JBII? Fegedaboudit..


If you believe that there is extensive naked shorting going on, it's likely that many, if not most shareholders who didn't get their shares in a PIPE are holding counterfeit shares.