It's possible that Mr. Heddle is just a really dumb guy. He did put $3M of his own money into it and now he has an incentive to stay uninformed if the process doesn't perform as represented.
A number of PIPE investors including Meyer Luskin who purportedly has a net worth of $1 billion also invested without doing proper due diligence and as a result they got their butts handed to them. Not everyone with money is smart about it.
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Plastic2Oil, Inc. (PTOI) Stock Research Links
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.