I'm sure Mr. Heddle doesn't even care to keep his
Post# of 43066
(Total Views: 303)
Posted On: 03/06/2018 12:28:36 PM
I'm sure Mr. Heddle doesn't even care to keep his story straight--nobody is looking for inconsistencies anyway.
It's odd that once Mr. Heddle finally disclosed in mid 2014 that the pipes had suffered freeze damage so extensive that he estimated it would cost $175,000 to $200,000 to fix them--basically about as much as an average house cost to have a pipefitter fix the pipes. Mr. Heddle said he needed financing to fix the processors.
However Mr. Heddle just put in millions of dollars a few months before the freeze damage caused by someone who decided to leave for an extended period of time and turn off the heat to the building completely. Yet out of those millions, not enough to fix the pipes.
Then Mr. Heddle recently received the $500,000 insurance settlement for PTOI's fraud charges...still not enough to fix the pipes. He sold off a piece of PTOI's property for $400,000...still not enough to fix the pipes. He sold $600,000 worth of notes...still not enough to fix the pipes.
Yet for all of Mr. Heddle's cost cutting, there's at least one employee paid out of SG&A, the SG&A into which Mr. Heddle has been dumping all of that money for years. $300k-$400k/quarter in SG&A is ridiculously high for a shuttered plant so who is this highly-paid employee whom Mr. Heddle doesn't mind paying handsomely despite four to five years of zero results?? He values paying that worthless employee so much that he won't even fix the freeze-damaged pipes at a fraction of that compensation.
Shareholders should think about that when they cheer that Mr. Heddle is selling off the blending plant property--you can guess the money will find its way into the endless SG&A money pit.
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It's odd that once Mr. Heddle finally disclosed in mid 2014 that the pipes had suffered freeze damage so extensive that he estimated it would cost $175,000 to $200,000 to fix them--basically about as much as an average house cost to have a pipefitter fix the pipes. Mr. Heddle said he needed financing to fix the processors.
However Mr. Heddle just put in millions of dollars a few months before the freeze damage caused by someone who decided to leave for an extended period of time and turn off the heat to the building completely. Yet out of those millions, not enough to fix the pipes.
Then Mr. Heddle recently received the $500,000 insurance settlement for PTOI's fraud charges...still not enough to fix the pipes. He sold off a piece of PTOI's property for $400,000...still not enough to fix the pipes. He sold $600,000 worth of notes...still not enough to fix the pipes.
Yet for all of Mr. Heddle's cost cutting, there's at least one employee paid out of SG&A, the SG&A into which Mr. Heddle has been dumping all of that money for years. $300k-$400k/quarter in SG&A is ridiculously high for a shuttered plant so who is this highly-paid employee whom Mr. Heddle doesn't mind paying handsomely despite four to five years of zero results?? He values paying that worthless employee so much that he won't even fix the freeze-damaged pipes at a fraction of that compensation.
Shareholders should think about that when they cheer that Mr. Heddle is selling off the blending plant property--you can guess the money will find its way into the endless SG&A money pit.
Reached posting limit.
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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.