Heddle took out more millions of dollars from the
Post# of 43064
Posted On: 08/09/2016 6:36:23 PM
Heddle took out more millions of dollars from the company in SG&A than he put in. Look at the financials in PTOI's filings. This financial aspect explains quite a bit about why he did what he did.
Heddle obviously could have spent the couple hundred $K to fix the processor, which he apparently never intended to do. His plan all along, in hindsight, was to take out all the money he put into the company.
Perhaps is hope was that by making the large loan at the start, he might attract some new investors, which would have just increased the size of the pot for him to take for his own.
The PTOI shell itself will have value, when sold off down the road to some other group who wished to become public on the OTC through a reverse merger.
Heddle obviously could have spent the couple hundred $K to fix the processor, which he apparently never intended to do. His plan all along, in hindsight, was to take out all the money he put into the company.
Perhaps is hope was that by making the large loan at the start, he might attract some new investors, which would have just increased the size of the pot for him to take for his own.
The PTOI shell itself will have value, when sold off down the road to some other group who wished to become public on the OTC through a reverse merger.
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