Now you shareholders know why Mr. Heddle wants to
Post# of 43066
(Total Views: 536)
Posted On: 04/02/2018 6:30:40 PM
Now you shareholders know why Mr. Heddle wants to keep his loyal shareholders around:
"Management estimates that the repair of the processors will require the expenditure of between $275,000 and $300,000. An additional $500,000 of startup working capital will be required to resume operations mainly for hiring operational personnel and incremental overhead expenses. At April 2, 2018, we lacked the working capital or access to bank credit to make these repairs. We are reviewing our financing options, including the sale of shares of our common stock or other securities, in order to allow us to obtain sufficient funds to make the required repairs and resume pilot operation of our processors to support processor sales."
And of course the $21M in losses since Mr. Heddle took the helm and the millions of dollars which Mr. Heddle loaned to PTOI, we apparently have to assume that Mr. Heddle legitimately wasted all of that money because he's not very bright and assume that none of it went to pay his own compensation.
A bit of talk about taking the flagship processor online in 2018 to prove viability should whet appetites...as long as people don't wonder why that wasn't important in the past.
Shareholders are certainly being played...but they're being played by Mr. Heddle, not those invisible evil short sellers who are somehow able to adeptly dump tens of millions of shares while avoiding all detection by everyone except for the eagle eye investors here.
By the way, the company listed $348k in cash last quarter when Mr. Heddle's previous estimate to fix the frozen pipes was $175k-$200k. The same pipes which were fixed in mid 2014 but then mysteriously not fixed. Now Mr. Heddle's estimate is $100k higher and there's just not enough cash listed. The $500k extra needed to resume operations was added a while back. So this $775k to $800k needed is where you investors might be asked once again to step up.
"Management estimates that the repair of the processors will require the expenditure of between $275,000 and $300,000. An additional $500,000 of startup working capital will be required to resume operations mainly for hiring operational personnel and incremental overhead expenses. At April 2, 2018, we lacked the working capital or access to bank credit to make these repairs. We are reviewing our financing options, including the sale of shares of our common stock or other securities, in order to allow us to obtain sufficient funds to make the required repairs and resume pilot operation of our processors to support processor sales."
And of course the $21M in losses since Mr. Heddle took the helm and the millions of dollars which Mr. Heddle loaned to PTOI, we apparently have to assume that Mr. Heddle legitimately wasted all of that money because he's not very bright and assume that none of it went to pay his own compensation.
A bit of talk about taking the flagship processor online in 2018 to prove viability should whet appetites...as long as people don't wonder why that wasn't important in the past.
Shareholders are certainly being played...but they're being played by Mr. Heddle, not those invisible evil short sellers who are somehow able to adeptly dump tens of millions of shares while avoiding all detection by everyone except for the eagle eye investors here.
By the way, the company listed $348k in cash last quarter when Mr. Heddle's previous estimate to fix the frozen pipes was $175k-$200k. The same pipes which were fixed in mid 2014 but then mysteriously not fixed. Now Mr. Heddle's estimate is $100k higher and there's just not enough cash listed. The $500k extra needed to resume operations was added a while back. So this $775k to $800k needed is where you investors might be asked once again to step up.
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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.