I remember PTOI's processor #1 was pitched to inve
Post# of 43066
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Posted On: 05/26/2017 10:51:50 AM
I remember PTOI's processor #1 was pitched to investors as costing $80,000 and could process 20 tons of plastic into 115 bbls of oil per day for which PTOI had contracts in hand to sell for just $3 below WTI. At the time that would supposedly clear $10,000 per day! Do the math and even today such an $80,000 processor would clear $4,000 per day per processor. Not bad that such a processor could pay for itself in a mere 20 days. Some investors have explicitly stated they still believe that's true but my guess is that, by now, most realize the founder lied his butt off with those fake claims.
The founder then worked tirelessly enhancing and improving the processor which culminated in the company's flagship processor #3. For a $2.5M price tag, that processor must be absolutely spectacular!! I wonder why, after eight years, PTOI doesn't want to run it and why no customers want to buy it. The easy explanation is that investors were simply defrauded as the founder made claims which had no basis in fact.
Wasn't the latest deadline for enhancing the memorandum of understanding into a definitive agreement a couple of days ago?? The MOU has been in 'negotiations' for ten to fourteen months...depending on whether or not the March 2016 announcement of something in the "next few weeks" referred to the MOU in August '16.
If you're long and committed to averaging down, it would be to your great benefit to think about what else could be going on rather than chalking everything up to eight years of bad luck. Remember, current CEO Mr. Heddle was highly dishonest when he let investors keep thinking production was ramping up when, in fact, the plant was out of commission. Trusting him with your [his] money is no better than trusting Mr. Bordynuik with your money.
PTOI has virtually no expenses as everything is shut down. Mr. Heddle wouldn't be so dumb as to pay even a $35,000 annual salary for the 2.5 other FTE's just so they can stare at a non-operational processor doing nothing all year or to record the few expenses. It's highly likely the $800k in annual salary PTOI records per year is money that mostly went straight back to Mr. Heddle's pocket with the exception of a few expenses going for upkeep of the assets securing Mr. Heddle's debt. Now that Mr. Heddle is selling those assets...you can guess that newly found working capital is also going to pay his salary. Those who are certain Mr. Heddle put in $millions to keep the company alive because he believes in the 'technology' should think again about what his motivation is.
For those who engage in spite-driven investing and are buying because other people say bad things about PTOI and reason that the company must therefore be good, please consider this an opportunity to buy more. Just because people say an investment in a company like PTOI, plagued with internal fraud, is a horrible investment...doesn't mean it's not a great company, right?? Alternatively, sometimes people say bad things about a company because that company actually is bad--that's also a possibility to consider objectively.
The founder then worked tirelessly enhancing and improving the processor which culminated in the company's flagship processor #3. For a $2.5M price tag, that processor must be absolutely spectacular!! I wonder why, after eight years, PTOI doesn't want to run it and why no customers want to buy it. The easy explanation is that investors were simply defrauded as the founder made claims which had no basis in fact.
Wasn't the latest deadline for enhancing the memorandum of understanding into a definitive agreement a couple of days ago?? The MOU has been in 'negotiations' for ten to fourteen months...depending on whether or not the March 2016 announcement of something in the "next few weeks" referred to the MOU in August '16.
If you're long and committed to averaging down, it would be to your great benefit to think about what else could be going on rather than chalking everything up to eight years of bad luck. Remember, current CEO Mr. Heddle was highly dishonest when he let investors keep thinking production was ramping up when, in fact, the plant was out of commission. Trusting him with your [his] money is no better than trusting Mr. Bordynuik with your money.
PTOI has virtually no expenses as everything is shut down. Mr. Heddle wouldn't be so dumb as to pay even a $35,000 annual salary for the 2.5 other FTE's just so they can stare at a non-operational processor doing nothing all year or to record the few expenses. It's highly likely the $800k in annual salary PTOI records per year is money that mostly went straight back to Mr. Heddle's pocket with the exception of a few expenses going for upkeep of the assets securing Mr. Heddle's debt. Now that Mr. Heddle is selling those assets...you can guess that newly found working capital is also going to pay his salary. Those who are certain Mr. Heddle put in $millions to keep the company alive because he believes in the 'technology' should think again about what his motivation is.
For those who engage in spite-driven investing and are buying because other people say bad things about PTOI and reason that the company must therefore be good, please consider this an opportunity to buy more. Just because people say an investment in a company like PTOI, plagued with internal fraud, is a horrible investment...doesn't mean it's not a great company, right?? Alternatively, sometimes people say bad things about a company because that company actually is bad--that's also a possibility to consider objectively.
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(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.