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  4. Plastic2Oil, Inc. (PTOI) Message Board

I have no idea how to interpret these contradictor

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Post# of 43066
Posted On: 06/09/2014 8:35:18 AM
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Posted By: techisbest
I have no idea how to interpret these contradictory statements and have not heard anything on the boards that makes sense.

Quote:
At June 3, 2014, we had three fully-permitted operational P2O processors, one dedicated to Research & Development, two dedicated to fuel production. All three processors are located at our Niagara Falls, NY facility, and our fourth and fifth processors were in process of assembly offsite in Niagara Falls, NY for sale. For the reasons described in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, the three operational P2O processors have been idle since late December 2013.



What does "operational" even mean? "Well, they would operate if all the components were fixed."???

Quote:
We had to shut down its production in the fourth quarter of2013. Management estimates bringing the facility back into full production will require the expenditure of between $175,000 and $200,000. The plant is presently testing and evaluating the feedstock from potential purchasers of processors. At June 3, 2014, we lacked the working capital or access to bank credit to restore full production.



Quote:
The Company had to shut down its production late in the fourth quarter of 2013 due to severe cold weather that caused damage to condensers and other components of our processors. Management estimates that the repair of the processors will require the expenditure of between $175,000 and $200,000. At June 3, 2014, we lacked the working capital or access to bank credit to make these repairs. We are reviewing our financing options, including the sale of shares of our common stock or other securities, in order to allow us to obtain sufficient funds to make the required repairs and resume operation of our processors. Management currently anticipates that the processors will remain idle at least until the third quarter of 2014. During the idle period, we significantly reduced our headcount by furloughing our operations personnel but retained a small team to perform general repairs and maintenance on the processors. Once the processors are repaired, we expect a small increase in our headcount in order to resume normal operations.



Quote:
We repaired temperature damage from the 2013/2014 winter in the spring of 2014. We replaced the new condensers on Processor #3 with condensers that have historically never failed in the process. We are adding equipment to our facility support systems to inject additives for lubricity and pour point to meet off road diesel use. The additives we tested performed well in off-road diesel equipment and the pour depressant is tested to work in extremely cold temperatures.





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