From memory during that seven year time period missing in the list, PTOI started up the second processor in 2012...but never gave any explanation as to why it wasn't running. Then around a year later in 2013 he created PTOI's "flagship" processor...and then gave investors the excuse that he was starting it up ever so slowly, over the course of six months, to ensure nothing broke.
About 3/4 of the way through 2013, Mr. Bordynuik stepped own as CEO and Mr. Heddle was installed. Mr. Heddle started right out of the gate praising the flagship processor, confirming that it was ramping up production with no problems...only saying that they could squeeze out a little more performance if a worker was as good as Mr. Bordynuik at running the processor. Mr. Heddle confirmed that cautious approach of starting up the flagship processor. Apparently every precaution was being taken to make sure nothing bad happened to the flagship.
Then in 2014, Mr. Heddle announced additional financing and put out a few more SEC filings. He left the impression that the flagship was still humming along and producing fuel.
Unfortunately, half way through 2014, Mr. Heddle sprung new information on investors...that the processors had been freeze damaged since late 2013 and the processors were completely inoperable since then!!! Obviously the processors were idle before they froze otherwise the heat from operating would have kept the pipes from freezing. Somehow the decision was also made to turn off the heat to the building!! What a confluence of bad luck in a continued years-long string of 'bad luck' events...which also gave Mr. Heddle an excuse as to why the processors couldn't be run again. Five years and counting, no matter how much money was received to fix them.
Immediately after announcing the freeze damage, Mr. Heddle put out a press release saying the processors were fixed...but then his SEC filings reverted to saying the processors were still busted and that substantial money would still be needed to fix them.
The problem with fixing the frozen pipes and condenser wasn't money--Mr. Heddle apparently loaned the company money...which appears to have mostly gone straight back out into his own pocket as compensation. At a minimum, no value was derived for the company for his 'loans'. Likewise he sold some PTOI property for cash. Ironically he received the fraud settlement ($500k??) from PTOI's fraud on shareholders. He received $250k from directors specifically to fix the processors and that money vanished. Money keeps going into PTOI and vanishing...yet the processors still sit broken.
So a couple of multi-year sham deals later where Mr. Heddle kept investors' appetites whetted, came and went. That brings PTOI up to 2019.
…
About 3/4 of the way through 2013, Mr. Bordynuik stepped own as CEO and Mr. Heddle was installed. Mr. Heddle started right out of the gate praising the flagship processor, confirming that it was ramping up production with no problems...only saying that they could squeeze out a little more performance if a worker was as good as Mr. Bordynuik at running the processor. Mr. Heddle confirmed that cautious approach of starting up the flagship processor. Apparently every precaution was being taken to make sure nothing bad happened to the flagship.
Then in 2014, Mr. Heddle announced additional financing and put out a few more SEC filings. He left the impression that the flagship was still humming along and producing fuel.
Unfortunately, half way through 2014, Mr. Heddle sprung new information on investors...that the processors had been freeze damaged since late 2013 and the processors were completely inoperable since then!!! Obviously the processors were idle before they froze otherwise the heat from operating would have kept the pipes from freezing. Somehow the decision was also made to turn off the heat to the building!! What a confluence of bad luck in a continued years-long string of 'bad luck' events...which also gave Mr. Heddle an excuse as to why the processors couldn't be run again. Five years and counting, no matter how much money was received to fix them.
Immediately after announcing the freeze damage, Mr. Heddle put out a press release saying the processors were fixed...but then his SEC filings reverted to saying the processors were still busted and that substantial money would still be needed to fix them.
The problem with fixing the frozen pipes and condenser wasn't money--Mr. Heddle apparently loaned the company money...which appears to have mostly gone straight back out into his own pocket as compensation. At a minimum, no value was derived for the company for his 'loans'. Likewise he sold some PTOI property for cash. Ironically he received the fraud settlement ($500k??) from PTOI's fraud on shareholders. He received $250k from directors specifically to fix the processors and that money vanished. Money keeps going into PTOI and vanishing...yet the processors still sit broken.
So a couple of multi-year sham deals later where Mr. Heddle kept investors' appetites whetted, came and went. That brings PTOI up to 2019.
…
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.
