Intent was to get #3 going in the absence of sales

Quote:

---

Intent was to get #3 going in the absence of sales going forward..with the infusion of the last financing

---

a quick glance doesn't show me that intent per se .. just the repeated use of

*generate working capital*

P2O filed both 8ks and an Update from Mid August 2016 to EO Sept 2016

https://www.sec.gov/Archives/edgar/data/13811...-index.htm

https://www.sec.gov/Archives/edgar/data/13811...-index.htm

http://www.plastic2oil.com/site/news-releases...ess-update

Securing Working Capital

Quote:

---

The company recently reported in its Form 8-K filed with the Securities and Exchange Commission on August 10, 2013 that it had received $100,000 in financing proceeds from a private placement of 12% secured promissory notes and warrants. On August 24, 2016, an additional $100,000 was received from investors in the private placement. The terms of the current financing were identical to the terms of the company's prior debt financing in which Plastic2Oil CEO Richard Heddle and Heddle Marine Services, Inc. cumulatively purchased $4 million of secured notes, aligning his interests with new investors in the company.

Additionally, in the company's efforts to generate working capital, the company has listed for sale its unused office and warehouse space in Thorold, Ontario. The company cannot make any assurance that a sale will consummate.
The company is also actively exploring other options to monetize its blending facility in Thorold, Ontario. Such options may include seeking either an outright sale of the facility, or leasing the site to generate cash flow. Further details on any potential monetization of the facility will be provided as they develop. There is no assurance that the company will be able to monetize this site.

---

============

the reason why *intent* out of mgmt is desired .. is very specific .. money
at some point in time *assets* run out .. including the infusion from last Aug/Sept
the sale of the asset noted above .. the insurance settlement noted earlier this year

which is why if the blending site is going to be sold vs leased .. i'm gonna lay odds that the plant gets sold as well

however if the blending site is actually leased in my lifetime (sarcasm) then i would expect that the plant remains *viable* as to P2O's future

4kids