Replies to post #169235 on Plastic2Oil Inc (PTOI)

[Rawnoc]

Name one profitable company in the history of the entire stock market that went bankrupt due to SEC fines.

Name one.

Then when you come up completely empty, name one time in the history if the entire stock market where an entire private placement was the fine due to a non-cash asset write down.

Good luck with that. SEC fines companies for accounting restatements are ALWAYS relatively small and manageable. AKA a parking ticket.

As an example, when the monster company XEROX had 4 years of misstatements to the tune of billions of dollars of actual sales and net income, the fine was a mere $10 million, a mere parking ticket to Xerox, yet touted by the SEC as the largest fine at the time in history:

http://www.sec.gov/news/headlines/xeroxsettles.htm

The notion is rib-cracking laughable that little tiny JBII is going to get the same size fine is as the record-breaking Xerox that misstated 4 years of actual sales and earnings for billions of dollars.

[snow]

loanranger

I think this was a reasonable outcome. At the time JBII did its private placement the value of the 10 million dollars in media credits represented less than 5 % of the market cap of JBII as far as I remember. That is so small a percentage that it makes little sense to think that the media credits had any significant effect on the stock price. Anyway a disgorgement of ill-gotten gains would amount to a very small percentage of the money raised by JBII.