Plastic2oil, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2019
September 11, 2019 at 04:07 pm EDT
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Plastic2Oil, Inc. announced earnings results for the second quarter ended June 30, 2019. For the second quarter, the company announced operating loss was USD 191,061 compared to USD 278,924 a year ago. Net loss was USD 476,623 compared to USD 528,839 a year ago. For the half year, operating loss was USD 380,030 compared to USD 627,585 a year ago. Net loss was USD 948,970 compared to USD 1.099 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago.
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. 
