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Pastimes : Plastics to Oil - Pyrolysis and Secret Catalysts and Alterna -- Ignore unavailable to you. Want to Upgrade?

To: old 'n cranky who wrote (25211)	5/29/2012 4:26:36 PM
From: PaperProphet	Respond to of 53574

"You have argued that the company must be buying scrap plastic versus receiving it free, using the following justification:" Well, my personal guess is that there isn't a whole lot of anything going on except the recycling facility is running and Mr. Bordynuik is purchasing fuel from third parties and re-selling that to other parties to bolster that revenue number. I suspect after the SEC fraud suit, he's reluctant to simply make up revenue numbers but I have no doubt the reason he doesn't break down the revenues to useful numbers is because investors would then see the zero or de minimis amount of plastic-derived fuel which was actually sold to other unaffiliated customers. As far as your question about the financials supporting one position or another, I don't believe the financials are reliable enough to consider them a 'puzzle' where the real story can be obtained just by analyzing them enough. You can look at how the cost of goods don't jibe from the six-month to the nine-month last year to see that Mr. Bordynuik was playing with the numbers. You can see how the "paper fibre" sales from the third quarter was mysteriously cleaned from the 10-K. In short, Mr. Bordynuik is dishonest and his word in writing is no better than his verbal word. I don't believe anyone should assume the financials are accurate but misleading--I believe they're inaccurate.