I'm not exactly sure that patience is a virtue in
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Posted On: 10/04/2019 10:45:07 AM
I'm not exactly sure that patience is a virtue in PTOI's case anyway.
I suppose if an investor trusts the CEO, it might be worth patience. Although so far I haven't seen anything the CEO has done to earn investors' trust. He was simply granted credibility and trust when he stepped into the role.
Right out of the gate, six years ago, the CEO said that the company was ramping up production with the 'flagship' processor...and then didn't tell investors that the processor was damaged at around the same time. Apparently PTOI turned off the heat in the dead of winter. Six months later he finally disclosed that the flagship processor was out of commission and had stayed that way. Then a month or so after that, the CEO put out a press release saying the processor was fixed...but then reverted back to saying the processor was broken in the SEC filings. Even last year the CEO put out a press release saying that the directors had loaned the company $250k to fix the freeze damage...but then that money disappeared into SG&A and the CEO is still holding out his hand for more money to fix the freeze damage.
Then the company had investors believing that two parties, EcoNavigation and Veridisyn, were going to buy processors...and for reasons unknown to investors, each deal dragged on for about a couple of years and investors were never told there was a problem. With nothing else going on, the CEO couldn't pick up the phone to contact these 'buyers' and let investors know the deals were going downhill??
The CEO and PTOI's founder were thick as thieves. Ten years ago Mr. Heddle, before he became CEO, said he would install the processors on ships as part of a joint press release with PTOI. Now he's the CEO so, for all intents and purposes, that deal is with himself. Is he so incompetent that he can't even do a deal with himself? Or did he discover something else which made the P2O Marine deal unworkable? If the latter, keep in mind that Mr. Heddle never announced to investors that there was a problem.
Not only did the CEO not do anything which seems like it would earn investors' trust, he's practically screaming that nobody should trust him at all!
It's completely backwards at PTOI. The CEO is immediately trusted when he becomes CEO and no amount of his deception seems to be able to shake investors' faith in him. He's bulletproof. I remember reading someone say that he didn't even get a 'honeymoon' in his new role as CEO with the skeptics--a clear sign that at least one investor felt he should be endowed with trust from the onset without having to earn it. But again, right out of the gate the CEO showed investors that they shouldn't trust him.
For me, I don't even need to see the deception from the company nor the constant delays. To me, the clearest signal of worthlessness is that PTOI hasn't ever provided any evidence that their pyrolysis is commercially viable nor even shown that it has any environmental benefit. There's only one reason to withhold that information--that reason is because the process is worthless and the CEO doesn't want investors (and lenders) to flee and never look back. The hope and illusion is what keeps money trickling in.
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I suppose if an investor trusts the CEO, it might be worth patience. Although so far I haven't seen anything the CEO has done to earn investors' trust. He was simply granted credibility and trust when he stepped into the role.
Right out of the gate, six years ago, the CEO said that the company was ramping up production with the 'flagship' processor...and then didn't tell investors that the processor was damaged at around the same time. Apparently PTOI turned off the heat in the dead of winter. Six months later he finally disclosed that the flagship processor was out of commission and had stayed that way. Then a month or so after that, the CEO put out a press release saying the processor was fixed...but then reverted back to saying the processor was broken in the SEC filings. Even last year the CEO put out a press release saying that the directors had loaned the company $250k to fix the freeze damage...but then that money disappeared into SG&A and the CEO is still holding out his hand for more money to fix the freeze damage.
Then the company had investors believing that two parties, EcoNavigation and Veridisyn, were going to buy processors...and for reasons unknown to investors, each deal dragged on for about a couple of years and investors were never told there was a problem. With nothing else going on, the CEO couldn't pick up the phone to contact these 'buyers' and let investors know the deals were going downhill??
The CEO and PTOI's founder were thick as thieves. Ten years ago Mr. Heddle, before he became CEO, said he would install the processors on ships as part of a joint press release with PTOI. Now he's the CEO so, for all intents and purposes, that deal is with himself. Is he so incompetent that he can't even do a deal with himself? Or did he discover something else which made the P2O Marine deal unworkable? If the latter, keep in mind that Mr. Heddle never announced to investors that there was a problem.
Not only did the CEO not do anything which seems like it would earn investors' trust, he's practically screaming that nobody should trust him at all!
It's completely backwards at PTOI. The CEO is immediately trusted when he becomes CEO and no amount of his deception seems to be able to shake investors' faith in him. He's bulletproof. I remember reading someone say that he didn't even get a 'honeymoon' in his new role as CEO with the skeptics--a clear sign that at least one investor felt he should be endowed with trust from the onset without having to earn it. But again, right out of the gate the CEO showed investors that they shouldn't trust him.
For me, I don't even need to see the deception from the company nor the constant delays. To me, the clearest signal of worthlessness is that PTOI hasn't ever provided any evidence that their pyrolysis is commercially viable nor even shown that it has any environmental benefit. There's only one reason to withhold that information--that reason is because the process is worthless and the CEO doesn't want investors (and lenders) to flee and never look back. The hope and illusion is what keeps money trickling in.
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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.
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