Yes--Mr. Heddle is just as much of a scoundrel as Mr. Bordynuik.
Investors are hanging their hats on Mr. Heddle loaning PTOI $4M at 12.5% interest, secured by all of the assets of PTOI...but they have no idea where that money went.
For a timeline of what Mr. Heddle accomplished....
in late 2013, Mr. Heddle jointly with Mr. Bordynuik announced that processor #3 was finally almost at full production. Mr. Heddle promised investors mid-quarter updates for extra transparency.
Mid 2014, Mr. Heddle announced that nothing happened since his last announcement over six months earlier since the plant broke around the time of his last announcement. Both the 10-K and 10-Q were delayed to coincide with the announcement of the breakage. Mr. Heddle simply withheld material information for six months.
Mid 2014, Mr. Heddle announced the plant was fixed...but later the plant entered some sort of Schrodinger's Cat state where it was fixed enough to run for 3-5 days at a time for pilot runs...but not fixed enough to run continuously.
Early 2015, Mr. Heddle announced a deal with EcoNavigation LLC to purchase six processors. Mr. Heddle supposedly did due diligence and told shareholders he was fully confident in EcoNav's ability to deliver. EcoNav found additional customers and PTOI was going to sell almost 40 processors at $2.5M each.
Rest of 2015...Mr. Heddle announced delays in the pilot runs of all customers three times. He apparently never bothered to ask why those $100M worth of processor sales simply fell apart.
2016, March...Mr. Heddle promised an update in the "next few weeks"...but then fell silent.
Mr. Heddle is really just as dishonest as Mr. Bordynuik...but Mr. Bordynuik is "ancient history" while Mr. Heddle is front and center. After three years, it's unclear exactly how badly Mr. Heddle would have to act in order to lose credibility with the remaining long and strong shareholders. Merely lying his butt off apparently isn't enough to get long and strong investors to lose faith in him.
Investors are hanging their hats on Mr. Heddle loaning PTOI $4M at 12.5% interest, secured by all of the assets of PTOI...but they have no idea where that money went.
For a timeline of what Mr. Heddle accomplished....
in late 2013, Mr. Heddle jointly with Mr. Bordynuik announced that processor #3 was finally almost at full production. Mr. Heddle promised investors mid-quarter updates for extra transparency.
Mid 2014, Mr. Heddle announced that nothing happened since his last announcement over six months earlier since the plant broke around the time of his last announcement. Both the 10-K and 10-Q were delayed to coincide with the announcement of the breakage. Mr. Heddle simply withheld material information for six months.
Mid 2014, Mr. Heddle announced the plant was fixed...but later the plant entered some sort of Schrodinger's Cat state where it was fixed enough to run for 3-5 days at a time for pilot runs...but not fixed enough to run continuously.
Early 2015, Mr. Heddle announced a deal with EcoNavigation LLC to purchase six processors. Mr. Heddle supposedly did due diligence and told shareholders he was fully confident in EcoNav's ability to deliver. EcoNav found additional customers and PTOI was going to sell almost 40 processors at $2.5M each.
Rest of 2015...Mr. Heddle announced delays in the pilot runs of all customers three times. He apparently never bothered to ask why those $100M worth of processor sales simply fell apart.
2016, March...Mr. Heddle promised an update in the "next few weeks"...but then fell silent.
Mr. Heddle is really just as dishonest as Mr. Bordynuik...but Mr. Bordynuik is "ancient history" while Mr. Heddle is front and center. After three years, it's unclear exactly how badly Mr. Heddle would have to act in order to lose credibility with the remaining long and strong shareholders. Merely lying his butt off apparently isn't enough to get long and strong investors to lose faith in him.
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.
