Is it possible that Mr. Heddle merely forgot that
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Posted On: 07/02/2020 5:01:57 PM
Is it possible that Mr. Heddle merely forgot that he's running a company with the greatest technology of all time, able to make diesel for under 25 cents a gallon while cleaning up the environment??
Too bad for seven years so far he wasn't able to come up with that $250k - $300k he estimated that he needed to fix those freeze damaged pipes and get the processors to roar to life.
Well, technically Mr. Heddle did get the money as a loan from the directors a few years ago for the express purpose of fixing the processors as stated in the filings, but that money instead disappeared into SG&A with no explanation. Since there appears to be only one employee at PTOI, the CEO, Mr. Heddle himself, SG&A is likely mostly made up of his own compensation. Maybe if the directors loaned him a couple of million dollars, he could carve out enough of that to fix the freeze damaged pipes.
Oddly enough based on the mechanic's lien against PTOI a few years ago because PTOI didn't pay the bill, it cost $26,000 to install the pipes in the first place. I'm not sure if that was one processor or all three, but it's odd that it costs 10x as much to fix the pipes as it does to install new ones. Maybe Mr. Heddle's estimate was way off for reasons which benefit the story he tells to investors.
Too bad for seven years so far he wasn't able to come up with that $250k - $300k he estimated that he needed to fix those freeze damaged pipes and get the processors to roar to life.
Well, technically Mr. Heddle did get the money as a loan from the directors a few years ago for the express purpose of fixing the processors as stated in the filings, but that money instead disappeared into SG&A with no explanation. Since there appears to be only one employee at PTOI, the CEO, Mr. Heddle himself, SG&A is likely mostly made up of his own compensation. Maybe if the directors loaned him a couple of million dollars, he could carve out enough of that to fix the freeze damaged pipes.
Oddly enough based on the mechanic's lien against PTOI a few years ago because PTOI didn't pay the bill, it cost $26,000 to install the pipes in the first place. I'm not sure if that was one processor or all three, but it's odd that it costs 10x as much to fix the pipes as it does to install new ones. Maybe Mr. Heddle's estimate was way off for reasons which benefit the story he tells to investors.
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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.