Current Report Filing (8-k)
19 September 2016 - 8:16PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): September 13, 2016
Plastic2Oil,
Inc.
(Exact
name of registrant as specified in its charter)
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Nevada
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000-52444
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90-0822950
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(State
or other jurisdiction of
incorporation
or organization)
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(Commission
File
Number)
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IRS
Employer
Identification
No.)
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20
Iroquois Street
Niagara
Falls, NY
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14303
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (716) 278-0015
NA
(Former
name or former address, if changed since the last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
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[ ]
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Written
communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
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FORWARD
LOOKING STATEMENTS
This
Current Report on Form 8-K contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. By their nature, forward-looking statements and forecasts involve risks and uncertainties
because they relate to events and depend on circumstances that will occur in the near future. Forward-looking statements speak
only as of the date they are made, are based on various underlying assumptions and current expectations about the future. We caution
readers that any forward-looking statements are not guarantees of future performance and that actual results could differ materially
from those contained or implied in the forward-looking statements. Such forward-looking statements include, but are not limited
to, statements about the terms and conditions of the agreement described herein. In some cases, you may identify forward-looking
statements by words such as “may,” “should,” “plan,” “intend,” “potential,”
“continue,” “believe,” “expect,” “predict,” “anticipate” and “estimate,”
the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance
on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many
of which are outside the Company’s control, involve a number of risks, uncertainties and other factors that could cause
actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company’s
beliefs, assumptions and expectations about the Company’s future performance and the future performance of the entity being
acquired, taking into account information currently available to the Company. These beliefs, assumptions and expectations can
change as a result of many possible events or factors, including those events and factors described in “Risk Factors”
in the Company’s recent Annual Reports on Form 10-K, and the Company’s recent Quarterly Reports , filed with the SEC,
not all of which are known to the Company. The Company will update this forward-looking information only to the extent required
under applicable securities laws. Neither the Company nor any other person assumes responsibility for the accuracy or completeness
of these forward-looking statements.
On
August 26, 2016, Plastic2Oil, Inc., finalized a Memorandum of Understanding (MOU) with a Southern U.S. company regarding potential
licensing of the company’s technology and a potential sale of units. The MOU, which is non-binding, sets forth an understanding
between Plastic2Oil and a potential partner regarding mutual intent to negotiate and enter in definitive agreements providing
for cooperation and collaboration on business ventures related to the production and sale of fuel derived from plastics. The definitive
agreements will encompass the first site housing two processors and will define the rights of the partner to develop additional
(15-20) facilities. Material developments regarding this relationship will be disclosed in a timely fashion at the appropriate
time. There can be no assurance that this MOU will lead to entry into a definitive agreement with the potential partner or that
any such venture will generate revenue or profits for Plastic2Oil.
The
“Definitive Agreement” is to be executed on or before November 25, 2016, with a subsequent date of closing (the “Closing
Date”), to be mutually agreed to by Plastic2Oil, Inc. and the Southern US Company.
On
August 24, 2016, an additional $100,000 was received from investors from the sale of secured promissory notes in the previously
disclosed private placement.
On
September 13, 2016, Plastic2Oil issued a press release announcing the execution of the MOU. A copy of the press release
is filed herewith as Exhibit 99.1 and is incorporated herein by reference.
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Exhibit
Number
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Description
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99.1
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Press
Release
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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Plastic2Oil,
Inc.
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Dated:
September 19, 2016
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By:
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/s/
Richard Heddle
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Richard
Heddle
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President,
Chief Executive Officer,
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and
Director
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Plastic2Oil (PK) (USOTC:PTOI)
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