Posted On: 08/15/2014 3:29:30 PM
Post# of 43065
Would someone reconcile these two items for me?
Plastic2Oil Announces Business Update
Winter Damage Repaired and Condensers Replaced; NYSDEC Permits; Quarterly Report for the Second Quarter; Processor Sales update
.....The damaged water-cooling components have been repaired.
We also had a major condenser failure which necessitated replacement of all of the condensers. The failing condensers allowed for the ingression of water into our fuel storage tanks but the fuel storage tanks did not sustain damage. The condensers have now been replaced with a model known to perform well in the systems over the past three years and the fuel storage tanks have been cleaned......
From the most recent Q dated August 14th.
The Company had to shut down its fuel production late in the fourth quarter of 2013 due to severe cold weather that caused damage to condensers and other components of its processors. Management estimates that the repair of the processors will require the expenditure of between $175,000 and $200,000. As of the date of this report the Company lacked the working capital or access to bank credit to make these repairs. The Company is reviewing our financing options, including the sale of shares of its common stock or other securities, in order to allow us to obtain sufficient funds to make the required repairs and resume operation of its processors.
Plastic2Oil Announces Business Update
Winter Damage Repaired and Condensers Replaced; NYSDEC Permits; Quarterly Report for the Second Quarter; Processor Sales update
.....The damaged water-cooling components have been repaired.
We also had a major condenser failure which necessitated replacement of all of the condensers. The failing condensers allowed for the ingression of water into our fuel storage tanks but the fuel storage tanks did not sustain damage. The condensers have now been replaced with a model known to perform well in the systems over the past three years and the fuel storage tanks have been cleaned......
From the most recent Q dated August 14th.
The Company had to shut down its fuel production late in the fourth quarter of 2013 due to severe cold weather that caused damage to condensers and other components of its processors. Management estimates that the repair of the processors will require the expenditure of between $175,000 and $200,000. As of the date of this report the Company lacked the working capital or access to bank credit to make these repairs. The Company is reviewing our financing options, including the sale of shares of its common stock or other securities, in order to allow us to obtain sufficient funds to make the required repairs and resume operation of its processors.
(0)
(0)Scroll down for more posts ▼
