Plastic2Oil, Inc. to Extend the Maturity Date of the Outstanding $1 million and $2 Million Principal Amount 12% Secured Promissory Note Due December 1, 2018 to December 31, 2020
July 30, 2019 at 05:30 pm EDT
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On July 25, 2019, Plastic2Oil, Inc. entered into an agreement with Mr. Richard Heddle, the company’s chief executive officer and a member of the company’s board of directors, to extend the maturity date of the outstanding $1 million principal amount 12% Secured Promissory Note due December 1, 2018 to December 31, 2020. Mr. Heddle originally purchased Note 1 from the company on August 29, 2013 in the company’s private placement of 12% Secured Promissory Notes due December 31, 2018. On July 25, 2019, the company entered into an agreement with Mr. Heddle to extend the maturity date of the outstanding $2 million principal amount 12% Secured Promissory Note due December 1, 2018 to December 31, 2020. Mr. Heddle originally purchased Note 2 from the company on September 30, 2013 in the company’s private placement of 12% Secured Promissory Notes due December 1, 2018.
Plastic2Oil, Inc. is a technology development and licensing company. The Company has developed technology, which converts waste plastic into ultra-clean, ultra-low sulfur fuel products through its plastic-to-oil (P2O) process. It has constructed various fully operational P2O processors to demonstrate its technology and process to potential customers. The Company provides its solutions through its processors and technologies. The Companyâs primary offering is its Plastic2Oil (P2O) solution, which is its process that converts waste plastic into fuel through a series of chemical reactions (P2O business). It is a combination of its own technologies and processes developed by P2O, which convert waste plastics into fuel. The Company has three processors at its Niagara Falls, NY facility. Its subsidiaries include Plastic2Oil of NY #1, LLC, Plastic2Oil (Canada) Inc., JBI RE#1, Inc. and Plastic2Oil RE ONE, Inc.
Plastic2Oil, Inc. to Extend the Maturity Date of the Outstanding $1 million and $2 Million Principal Amount 12% Secured Promissory Note Due December 1, 2018 to December 31, 2020
PLASTIC2OIL, INC. 
