So in addition to PTOI generating another excuse to kick the can down the road, PTOI downgraded it's latest and greatest 'flagship' processor to a demonstration processor. After two test processors and three commercial processors over seven and half years, each commercial processor was downgraded, in turn, to a test/demonstration processor. How many fully functioning, commercially viable processors harnessing a disruptive technology does a company need before it places even one into operation?? Why use a supposedly highly valuable processor for demonstration purposes rather than for converting 'waste' plastic into diesel?? Mr. Heddle obviously doesn't see the value that shareholders were led to believe is there.

Processor #1 received a lot of hoopla back in 2010 when then CEO, Mr. Bordynuik, announced it was put into full commercial operation. The stock rallied as investors bid up the stock but the news was simply fake...just like the current CEO's, Mr. Heddle's, story about a licensing venture with an undisclosed potential customer or Mr. Heddle's last story about EcoNav purchasing and finding additional customers to buy a total of 30+ processors at $2.5M each almost two years ago.

So here we are. Mr. Heddle said he would finally fix the processors with the latest financing, yet three and a half months later, the processors still don't appear to be fixed, much less operating. A pipefitter should be able to fix the freeze damage in a day or two or at least in under a week. Processor #1 was built from scratch with all associated piping and equipment sometime between January 2010 and March 2010. Why isn't Mr. Heddle offering up an excuse for why fixing the processors is dragging on?? Remember, once operational, the 'flagship' supposedly can start printing money.