The guy who founded the company, and who spent fiv
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Remember now, this is the guy who claims to have "invented" the company's "technology". He claims to have accidentally found a revolutionary catalyst while recovering data from a 1970's magnetic tape. He founded the company on this claim - that this revolutionary catalyst that somebody just forgot about, would allow him to be the first human in history to not only make pyrolysis profitable, but to make it so wildly profitable that it would make him and all his investors mega-rich.
Under Bordynuik, the plan was to earn billions of dollars by using his revolutionary technology to turn plastic into oil for a total cost of of ten bucks per barrel, and sell it for three bucks less than the going price of West Texas Intermediate.
Under new management, the company recently changed it's plan to selling the revolutionary processors, designed and conceived of by John Bordynuik (or so it is claimed) for millions of dollars each, instead of running the processors themselves and selling the oil.
Here are the dots to connect:
Dot 1: Bordynuik is a repeat liar and fraudster, publicly admitting to lying to investors and committing securities crimes as part of his OSC settlement.
Dot 2: Bordynuik claims to have found a revolutionary catalyst that had been lost on a 1970's magnetic data tape, that would allow him to revolutionize pyrolysis and make all his investors mega-rich.
Dot 3: Company loses $65M over next five years, never abandoning it's claims about a revolutionary catalyst and ten buck oil.
Dot 4: Company never manages to demonstrate profitability, let alone the +85% profit margins claimed by company since its inception, yet never abandons its claims about ten buck oil and +85% profit margins.
Dot 5: Company changes plan to selling processors that John Bordynuik "designed". Yet John Bordynuik has no education, training, or experience remotely related to anything like this, let alone any track record of being capable of revolutionizing an industry.
So you tell me, which option would a reasonable person looking to invest in a company choose?
Option-A: A penny stock that has lost 99% of its value over the last few years, and that has failed to do anything resembling an actual business after six years and $65M, who has accumulated a couple of fraud charges, and sold itself on a ridiculous story about a revolutionary catalyst that somebody just forgot about?
Option-B: A company that has a credible story and that has so far avoided being charged by two regulatory agencies for fraud?
Keep in mind, before you answer, what Option-A entails. It relies upon selling an unpatented "technology", designed by a college dropout who has been twice prosecuted for fraud, for millions of dollars to people who have money and lawyers at their disposal.
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