Replies to post #201960 on Plastic2Oil Inc (PTOI)

[NewMoney]

How do you get "dead in the water" from a clear increase in tanker traffic and processor parts arriving at an accelerated rate?

Because to me that looks like increasing activity at the site.

tia

[snow]

Very good post this time Artiztic1

I dislike the lack of transparency that you are driving at.

[BRIG_88]

HOW ABOUT THIS PART? You know the part that covers the past nobody cares about because it can't be changed?....just partin'

[User336447]

Q1 10Q showed:
Raw materials = $22,058
Finished Goods = $342,676
Obsolescence Reserve = $160,000
Total inventories = $204,734

Q2 10Q showed:
Raw materials = $21,038
Finished Goods = $9,391
Obsolescence Reserve = $0
Total inventories = $30,429

I assume finished goods = fuel.

Does this mean that they sold the finished goods from Q1 in Q2? If so, I would estimate the proceeds from the sale of reserves being $182676 if their obsolescence reserve estimation was correct. That is very close to the "P2O sales" of $179,420 for the quarter. Does that mean no P2O machines were running at all for the whole Q2 and all sales were derived solely from the sale of reserves?

I'm not very good at reading 10Q's so someone help me understand.

[FrankLind]

John would have believed, at that time the 10q was authored, that the process did not require any further modifications. That is why he wrote it.

But then, as is probably the case with development of this kind of technology it was discovered that it did require modifications. So they modified it again. Thus the processor was down. This is further supported by the further modifications that occurred in the last quarter for the petcoke removal system. It is the nature of these kind of projects. Things are not clean and straight-forward. It is stop-start trial and error.

I also think that quarter was spent on more tinkering and getting ready for the SAIC test run - which produced the goods.

Overall, I don't care and I think not knowing what is happening now is FAR more important. (i.e., tankers )