Replies to post #174294 on Plastic2Oil Inc (PTOI)

[loanranger]

"Shares do not 'come off restriction'. They are eligible to have their 144 legend removed is all."

It seems to me that the poster to whom you responded should be thanking you for clarifying his point.

When he said "Basically 4,162,824 shares have come off restriction in March", according to you he should have said (contradictory to your indication that "most INVESTORS could give a flying rat's ass about getting their shares unrestricted") that shareholders had made the effort to have the restrictive legends removed from 4,162,824 of their shares, thereby rendering them available for sale.

Nice work.

[MorningLightMountain]

If I Am Not an Affiliate of the Issuer, What Conditions of Rule 144 Must I Comply With?

If you are not (and have not been for at least three months) an affiliate of the company issuing the securities and have held the restricted securities for at least one year, you can sell the securities without regard to the above conditions. If the issuer of the securities is subject to the Exchange Act reporting requirements and you have held the securities for at least six months but less than one year, you may sell the securities as long as you satisfy the current public information condition.

Can the Securities Be Sold Publicly If the Conditions of Rule 144 Have Been Met?

Even if you have met the conditions of Rule 144, you can't sell your restricted securities to the public until you've gotten the legend removed from the certificate. Only a transfer agent can remove a restrictive legend. But the transfer agent won't remove the legend unless you've obtained the consent of the issuer—usually in the form of an opinion letter from the issuer's counsel—that the restricted legend can be removed. Unless this happens, the transfer agent doesn't have the authority to remove the legend and execute the trade in the marketplace.

http://www.sec.gov/investor/pubs/rule144.htm

WRONG. Shares do not 'come off restriction'. They are eligible to have their 144 legend removed is all. That is a semi lengthy process that involves getting an opinion letter from a securities attorney, sending in the stock certificate to the transfer agent and getting back a new unrestricted cert.

Your numbers are meaningless, since most INVESTORS could give a flying rat's ass about getting their shares unrestricted and then actually selling them. They bought for the promise of P2O and massive future gains.........

[Scandle34]

They bought for the promise of P2O and massive future gains.........

... and most would like a little less promise and a lot more gains

[buenokite]

WRONG. Shares do not 'come off restriction'. They are eligible to have their 144 legend removed is all. That is a semi lengthy process that involves getting an opinion letter from a securities attorney, sending in the stock certificate to the transfer agent and getting back a new unrestricted cert.

Your numbers are meaningless, since most INVESTORS could give a flying rat's ass about getting their shares unrestricted and then actually selling them. They bought for the promise of P2O and massive future gains.........

Actually the 4MM+ shares actually had their restrictive legend removed. And you are right shareholders had to go through the process to have that happen. So if you were trying to imply that the shares were just eligible to have the legends removed, you were wrong. Not only were they eligible, but for some reason in the month of March shareholders have gone through that effort to make their shares available for sale to the tune of 4MM+. And I believe if Q1 comes in as light as some are implying here with coy comments then this will just be the tip of the iceberg.

Share statistics below:

Mar 30, 2012:
OS: 73,049,709
Restricted: 30,517,860
(Float: 42,531,849)

Mar 23, 2012:
OS: 73,049,709
Restricted: 31,857,058
(Float: 41,192,651)

Mar 16, 2012:
OS: 73,049,709
Restricted: 32,129,823
(Float: 40,919,886)

Mar 9, 2012:
OS: 73,049,709
Restricted: 34,481,893
(Float: 38,567,816)