Replies to post #208233 on Plastic2Oil Inc (PTOI)

[arvitar]

That's a gross misrepresentation of the situation.

A more accurate and honest description is this:

- The SEC has published a detailed report, based on their thorough and careful investigation of JBII, explaining why they are convinced that JBII and Bordynuik have committed securities fraud and accounting fraud.

- In the course their investigation, the SEC went over every detail of JBI's finances and business, and hence did significantly more DD than what would be even close to possible for any investor.

- Based on what they learned, the SEC decided to sue JBI and Bordynuik on multiple violations of securities fraud and accounting fraud.

- Additionally, an independent CPA and Certified Fraud Examiner, with +30yrs experience investigating accounting fraud, has explained in detail in his new book why he is certain that the SEC is correct.


However, some JBI investors are insisting that this is a reasonable argument: "Everyone should ignore all of the evidence, analysis, and logic, made publicly available by the SEC and an independent Certified Fraud Examiner, because they are just "allegations". All of the detailed analysis, mountain of evidence, and expert-opinion, should be completely disregarded until a court has made a decision"

This is, of course, an absurd argument. The information published by the SEC is likely the most accurate public information available about JBI and John Bordynuik. A reasonable person would weight this information heavily.

Certainly more heavily than unfounded rumors bandied around certain echo chambers, or JBI's opaque and inaccurate information they put out while they're desperately trying to raise cash.

[Zardiw]

JBII CEO Rauber Phone Call:

Thanks to Brigg!

I just talked to CEO Kevin Rauber: I asked about how the company was doing and about improved communication with shareholders.

He reiterated cash flow positive in the 1st quarter of 2013.

Machine 2 is running producing fuel.

Machine 1 repair/upgrade is complete. It's going through burn in testing for problems and fixing them as they appear. Hence it is up and down as they do so. It is up and running today as they continue.

Machine 3 is being worked on.

I asked about doing a raise if one would be needed and he said yes for the continued roll out.

I asked about the swirling rumors of someone driving the stock down to launch a cheap buy out. He said NO. He wouldn't have anything to do with something like that and any low ball offer would be refused in any event.

I asked about run tickets and he said no. He said fuel production took off the last part of September and carried forward through all of October and continues as of now. The company will NOT engage in short term numbers to try to boost the stock.

I asked about gov grants as a green energy company and he said that is being looked at on a local level. He also stated he gets phone calls from all over the world from people and gov wanting this technology to solve their waste plastic problems.

He said they are concentrating on fleshing out the Niagra site and getting CFP and profitable. Then build out their first customer site at Rock Tenn. In the future they may look at partnering or licensing their technology.

I asked about the delay this year with 2 machines running. He said machine 1 broke and machine 2 completion was severely affected by a cash crunch which threw all machine completion and production schedules under the bus. They did the 10 million dollar raise bills and debt were paid and things got back on track and continue to improve.

He said he has been and continues to work diligently to reduce costs and has reduced head count as part of it.

He said he took a BIG pay cut from his job at Rock Tenn and was willing to do so as he believes in JBI and it's technology and will come out ahead in the long run.

He also said the rumors of him not ever being at Niagra Falls and being an absentee CEO are BS. He's there right now.

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