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Plastic2Oil, Inc. PTOI
Posted On: 04/22/2013 7:40:12 PM
Post# of 43066
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Posted By: Paul


From John Wesson:


Friday I resigned from the Board of Directors of JBI, Inc. I waited until it was publicly filed with the SEC before posting it here.

My resignation had nothing to do with my confidence in the company. In fact, I have even greater faith in the potential, and the contribution to society. See the latest 8K for slide presentation that John Bordynuik made today.

My resignation had to do with several issues:

First, I have always maintained that a well qualified, and vetted Board of Directors would be best for the company, at the right time, and I feel we are at that point - as indicated by the Investors Group side letter.

Second, as of May 15th of last year, after the resignation of Dr. Robin Bagai, and with John Bordynuik stepping down, the residual Board was primarily that of management control. I would have resigned sooner except I felt it imperative to get a new Board in place as quickly as possible, and took that imperative as my major task and concern. I worked as hard as possible to get the best candidates, and the best board for JBI, Inc.
http://jbii.ir.edgar-online.com/fetchFilingFr...;Type=HTML
Third, I now feel that I have done as much as I can, that we should get the new Board in place quickly as a fiduciary responsibility to the shareholders, and that there is not much more I can do as an independent Board member. I chose this time in the hopes that the disclosure of Crayola, and John's Earth Day presentation would counter any negative considerations that might be felt by my resignation.


















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