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  4. Plastic2Oil, Inc. (PTOI) Message Board

"Use a little common sense if you could for one mo

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Post# of 43066
(Total Views: 310)
Posted On: 07/15/2017 6:07:16 PM
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Posted By: newkidontheblock
Re: PaperProphet #36090
"Use a little common sense if you could for one moment. If YOU were a successful business man (insert laugh track here), you wouldn't loan your company personal funds so that you could pay yourself."

Might make perfect sense if it is done for tax reasons. People who make a lot of money seek any way at all to defer or delay income, so that they an recognize it in later years and hence pay less taxes. plus making returns on the cash.

Or, create income in the present where there is none or it is a low-income year. Any idea how Meddle Marine is doing? Maybe not that well. So this might be a tax strategy. When P2O is liquidated and the loan is repaid it will not be income... meanwhile the salary he is being paid now is...

So Heddle Marine is privately held. That means that Rick can pretty much declare income when he wants, or leave the money in the corporation. There is no information on the web site about the ownership structure that I can see, so we have no idea what he has declared as income. No financial statements.

Funnily enough, he is the only executive that has not put his contact email on the web site... I wonder why...

Anybody know anything about how Heddle Marine is doing?


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