Replies to post #180066 on Plastic2Oil Inc (PTOI)

[Toxic Avenger]

My guess is an early PIPEr who wasn't happy that he just saw the entire net asset base of his new investment vanish in a restatement.

Talk about a "leap of faith" - assUming that a third party needed to write an SEC lawsuit and THEN the SEC lied about it! ROFLMAO. About as believable as little green men trying to bankrupt JBII so they can take over Earth.
Or for that matter, a magic catalyst that can make otherwise unprofitable pyrolysis, profitable.
Too funny.

[lytnup]

Concerned citizen is a fine title - let's stick with that for now, until such time as the attorneys bring more to light about the subject.

My guess as to the initial reaction of the SEC once the "concerned citizen" complaint arrived:
"JB who? Never heard of 'em."

[loanranger]

"Well, true that a concerned citizen probably reported the restatement......."

I doubt that was necessary. Obviously the SEC can't and doesn't review every filing, but I'd be VERY surprised if they don't review each and every Form 8-K that is filed for this reason:

Item 4.02, Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.
http://www.sec.gov/about/forms/form8-k.pdf


The SEC doesn't need anyone to bring these to their attention. For frame of reference, there have been 128 Item 4.02's filed so far this year.....less than 2 a day. It's highly unlikely that any have gone unread.