CEO Mr. Heddle loaned PTOI $4M of his own money to
Post# of 43064
Posted On: 03/16/2016 10:49:18 PM
CEO Mr. Heddle loaned PTOI $4M of his own money to PTOI, in loans senior to all other debt and 12% interest, to pay for PTOI's SG&A. I think it's safe to say the bulk of his loaned money was used to pay himself or maybe used for Heddle Marine.
But while Mr. Heddle was comfortable loaning PTOI $4 million and spending that for expenses related to SG&A...he was completely unwilling to pony up any of his own money to fix the condenser, much less at his estimated $175k to $200k for repairs. He also didn't want to spend another $80k or so to buy/build a shiny new processor for sale to potential customers. Now in his letter to shareholders, Mr. Heddle announced he plans to raise money from outside sources to start up the processors.
Something is going on there. Why does Mr. Heddle personally value using PTOI as a vehicle for moving money...yet he couldn't care less about PTOI's processors??
But while Mr. Heddle was comfortable loaning PTOI $4 million and spending that for expenses related to SG&A...he was completely unwilling to pony up any of his own money to fix the condenser, much less at his estimated $175k to $200k for repairs. He also didn't want to spend another $80k or so to buy/build a shiny new processor for sale to potential customers. Now in his letter to shareholders, Mr. Heddle announced he plans to raise money from outside sources to start up the processors.
Something is going on there. Why does Mr. Heddle personally value using PTOI as a vehicle for moving money...yet he couldn't care less about PTOI's processors??
(1)
(0)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.
Scroll down for more posts ▼