That's unbelievable! So the price tag is now $500k to get PTOI's processors running. Mr. Heddle knows his audience well. He could add that he first needs to pay for a unicorn parade and everyone would still acquiesce.
My guess is that, with the $600k recently received from investors, the "millions" CEO Mr. Heddle is putting in, etc..., the questions are arising as to why he's not spending a dime toward his estimated $175k to $200k to fix the freeze damage. He had to up the stated price tag to close that hole. Founder Mr. Bordynuik had to gradually increase the price tag on a processor from $80k to $2.5M for similar reasons.
To put this in perspective, PTOI has burned through $17M since 2014 in its stated quest to sell processors but couldn't spend a dime to actually fix them. That includes Mr. Heddle's "millions" loaned to PTOI and cycled back to pay his own salary, depreciation, etc.... Mr. Heddle even got a cash payment of $200k on Feb 7th, 2014 ( https://www.sec.gov/Archives/edgar/data/13811...8k_jbi.htm ) plus another $120k received on Feb 19th, 2014 ( https://www.sec.gov/Archives/edgar/data/13811...14_jbi.htm )......while nobody even knew the plant was out of commission...yet he still wouldn't fix the processors. Mr. Heddle collected money by the pound...yet the only clear ongoing expenses were a $200k mortgage and Mr. Heddle's massive part-time salary.
So 3.5 employees took $700k in salary in 2016. With everything idled, those have to be the easiest jobs in the world. That average of $200k salaries I'm sure is highly skewed toward paying Mr. Heddle's own salary. Maybe it's deserved with all the "negotiating MOU's" which Mr. Heddle is doing.
Looks like whomever wrote the 10K gave a shout out to the message boards with the diatribe about short sellers. No mention that short interest has been trivial for years.
I had to laugh when I saw PTOI's description in the 10-K that shorted shares were, "supposedly" borrowed from a third party. They stopped short of claiming a massive naked short interest and claiming that Reg SHO data was faked in order to hide that massive naked short interest.
Also a comment in the 10K about short attacks reducing the credibility of PTOI. Only in penny stock world can a company not produce a single result for eight years...yet blame bloggers for destroying its credibility and share price. PTOI knows its audience well--anyplace else and everyone would be laughing at Mr. Heddle's hubris.
My guess is that, with the $600k recently received from investors, the "millions" CEO Mr. Heddle is putting in, etc..., the questions are arising as to why he's not spending a dime toward his estimated $175k to $200k to fix the freeze damage. He had to up the stated price tag to close that hole. Founder Mr. Bordynuik had to gradually increase the price tag on a processor from $80k to $2.5M for similar reasons.
To put this in perspective, PTOI has burned through $17M since 2014 in its stated quest to sell processors but couldn't spend a dime to actually fix them. That includes Mr. Heddle's "millions" loaned to PTOI and cycled back to pay his own salary, depreciation, etc.... Mr. Heddle even got a cash payment of $200k on Feb 7th, 2014 ( https://www.sec.gov/Archives/edgar/data/13811...8k_jbi.htm ) plus another $120k received on Feb 19th, 2014 ( https://www.sec.gov/Archives/edgar/data/13811...14_jbi.htm )......while nobody even knew the plant was out of commission...yet he still wouldn't fix the processors. Mr. Heddle collected money by the pound...yet the only clear ongoing expenses were a $200k mortgage and Mr. Heddle's massive part-time salary.
So 3.5 employees took $700k in salary in 2016. With everything idled, those have to be the easiest jobs in the world. That average of $200k salaries I'm sure is highly skewed toward paying Mr. Heddle's own salary. Maybe it's deserved with all the "negotiating MOU's" which Mr. Heddle is doing.
Looks like whomever wrote the 10K gave a shout out to the message boards with the diatribe about short sellers. No mention that short interest has been trivial for years.
I had to laugh when I saw PTOI's description in the 10-K that shorted shares were, "supposedly" borrowed from a third party. They stopped short of claiming a massive naked short interest and claiming that Reg SHO data was faked in order to hide that massive naked short interest.
Also a comment in the 10K about short attacks reducing the credibility of PTOI. Only in penny stock world can a company not produce a single result for eight years...yet blame bloggers for destroying its credibility and share price. PTOI knows its audience well--anyplace else and everyone would be laughing at Mr. Heddle's hubris.
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.
