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Posted On: 04/04/2018 3:36:36 PM
Post# of 43065
"Do you think bankruptcy is an option?"
Bankruptcy is absolutely not an option for Plastic2Oil, Inc. In receivership, the creditors and debtors go to court and the court appoints a bankruptcy trustee to execute the sale of assets and pay back creditors with the proceeds.
In Plastic2Oil's case, Mr. Hedde runs both side of the coin. He makes all decisions for the company (debtor) and can choose which creditors he wants to pay first (himself)...or he can choose to continue pay his own compensation and rack up more debt. Why would he want to file for bankruptcy and essentially pay someone else to make decisions which he can already make for himself??
Maybe in three and a half years if current director, Mr. Aspin, whines and complains that he wants his $500k loan back, there might be some mild threat of bankruptcy...but I'm sure if that happens then Mr. Heddle will quickly squash Mr. Aspin and put him back in his place.
Bankruptcy is absolutely not an option for Plastic2Oil, Inc. In receivership, the creditors and debtors go to court and the court appoints a bankruptcy trustee to execute the sale of assets and pay back creditors with the proceeds.
In Plastic2Oil's case, Mr. Hedde runs both side of the coin. He makes all decisions for the company (debtor) and can choose which creditors he wants to pay first (himself)...or he can choose to continue pay his own compensation and rack up more debt. Why would he want to file for bankruptcy and essentially pay someone else to make decisions which he can already make for himself??
Maybe in three and a half years if current director, Mr. Aspin, whines and complains that he wants his $500k loan back, there might be some mild threat of bankruptcy...but I'm sure if that happens then Mr. Heddle will quickly squash Mr. Aspin and put him back in his place.
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Yes, I understand your penny stock also is the real deal, created with the inventiveness of Edison and destined to be the next Microsoft. Yes, I understand that the delays are also only because your company is making their product and/or technology even more revolutionary.
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