Plastic2Oil : Q4.21 Annual Financial Reports

Disclosure Statement Pursuant to the Pink Basic Disclosure Guidelines

PLASTIC2OIL, INC.

20 Iroquois Street

Niagara Falls, NY 14303 ________________________________ 716-285-0015 [e-mail]000-52444

Annual Report

For the Period Ending: December 31, 2021

(the "Reporting Period")

As of December 31, 2021, the number of shares outstanding of our Common Stock was:

124,756,158

As of September 30, 2021, the number of shares outstanding of our Common Stock was:

124,756,158

As of December 31, 2020, the number of shares outstanding of our Common Stock was:

124,756,158

Indicate by check mark whether the company is a shell company (as defined in Rule 405 of the Securities Act of 1933 and Rule 12b-2 of the Exchange Act of 1934):

Yes: ☐

No: ☒

Indicate by check mark whether the company's shell status has changed since the previous reporting period:Yes: ☐

No: ☒

Indicate by check mark whether a Change in Control1 of the company has occurred over this reporting period:

1 "Change in Control" shall mean any events resulting in:

(i) Any "person" (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becoming the "beneficial owner" (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the

Company's then outstanding voting securities;

• (ii) The consummation of the sale or disposition by the Company of all or substantially all of the Company's assets;

• (iii) A change in the composition of the Board occurring within a two (2)-year period, as a result of which fewer than a majority of the directors are directors immediately prior to such change; or

(iv) The consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation.

Yes: ☐

No: ☒

1)Name of the issuer and its predecessors (if any)

In answering this item, please also provide any names used by predecessor entities and the dates of the name changes.

We were incorporated on April 20, 2006 under the laws of the State of Nevada under the name 310 Holdings Inc. ("310"). On April 24, 2009, the Company's founder, former CEO and Chief of Technology, John Bordynuik, purchased 63% of the issued and outstanding shares of 310 and became the Chairman of the Board of Directors and Chief Executive Officer. On June 25, 2009, we purchased certain assets from John Bordynuik, Inc., a corporation founded by Mr. Bordynuik. The assets acquired included tape drives, computer hardware, servers and a mobile data recovery container to read and transfer data from magnetic tapes. From inception until August 2009, we were a shell company within the meaning of the rules of the Securities and Exchange Commission. On August 24, 2009, we acquired all of the outstanding shares of Javaco, Inc., a wholly owned subsidiary of Domark International, Inc. On September 30, 2009, we acquired 100% of the issued and outstanding equity interests of Pak-It, LLC. We formed JBI (Canada) Inc. on February 9, 2010 for purposes of distributing Pak-It products in Canada. We formed Plastic2Oil of NY, #1, LLC on May 4, 2010, for the development and commercialization of our Plastic2Oil business in Niagara Falls, NY.

On October 5, 2009, we changed our corporate name to JBI, Inc.

On August 24, 2009, the Company acquired Javaco, Inc. ("Javaco"), a distributor of electronic components, including home theater and audio video products. On July 9, 2012, we announced the closure of our Javaco operations and sold substantially all of its assets to an unrelated third party. In July 2012, the Company closed Javaco and sold substantially all its inventory and fixed assets.

In September 2009, the Company acquired Pak-It, LLC ("Pak-It"). Pak-It operated a bulk chemical processing, mixing, and packaging facility. It also developed and patented a delivery system that packages condensed cleaners in small water- soluble packages. . On February 10, 2012, we sold substantially all the assets of Pak-It.

In December 2010, the Company entered into a twenty year lease for a recycling facility in Thorold, Ontario. During the period ended December 31, 2013, the Company determined that it would no longer operate the facility and shut down all operations. The property was vacated on November 10, 2015 and the lease was terminated on January 15, 2016 effective October 31, 2015.

On July 31, 2014, we changed our corporate name to Plastic2Oil, Inc. On January 6, 2015, we changed the names of our two Canadian subsidiaries from JBI (Canada) Inc. to Plastic2Oil (Canada), Inc., and from JBI RE ONE, Inc. to Plastic2Oil RE ONE, Inc.

The corporation's principal executive office and principal place of business address is 20 Iroquois Street, Niagara Falls,

New York, United States.

Date and state (or jurisdiction) of incorporation (also describe any changes to incorporation since inception, if applicable)

Please also include the issuer's current standing in its state of incorporation (e.g. active, default, inactive):

Nevada, Active, Described above.

Has the issuer or any of its predecessors been in bankruptcy, receivership, or any similar proceeding in the past five years?

Yes: ☐

No: ☒

If this issuer or any of its predecessors have been the subject of such proceedings, please provide additional details in the space below:

N/A

2)Security Information

Trading symbol:	PTOI
Exact title and class of securities outstanding:	Common
CUSIP:
Par or stated value:	$0.001
Total shares authorized:	250,000,000 as of date: 4/15/22
Total shares outstanding:	124,756,158 as of date: 4/15/22
Number of shares in the Public Float2:	90,809,215 as of date: 4/15/22
Total number of shareholders of record:	478 as of date 4/15/22

All additional class(es) of publicly traded securities (if any):

Trading symbol:

Exact title and class of securities outstanding: CUSIP:

Par or stated value: Total shares authorized: Total shares outstanding:Transfer Agent

Name: Pacific Stock Transfer Phone: [phone]

Email:[e-mail]

N/Aas of date: as of date:

Address: Marnell Corporate Center, 6725 Via Austi Pkwy Suite 300, Las Vegas, NV 89119

Is the Transfer Agent registered under the Exchange Act?3 Yes: ☒ No: ☐

Describe any trading suspension orders issued by the SEC concerning the issuer or its predecessors:

None

List any stock split, stock dividend, recapitalization, merger, acquisition, spin-off, or reorganization either currently anticipated or that occurred within the past 12 months:

N/A

3)Issuance History

The goal of this section is to provide disclosure with respect to each event that resulted in any direct changes to the total shares outstanding of any class of the issuer's securities in the past two completed fiscal years and any subsequent interim period.

Disclosure under this item shall include, in chronological order, all offerings and issuances of securities, including debt convertible into equity securities, whether private or public, and all shares, or any other securities or options to acquire such securities, issued for services. Using the tabular format below, please describe these events.

2 "Public Float" shall mean the total number of unrestricted shares not held directly or indirectly by an officer, director, any person who is the beneficial owner of more than 10 percent of the total shares outstanding (a "control person"), or any affiliates thereof, or any immediate family members of officers, directors and control persons.

3 To be included in the Pink Current Information tier, the transfer agent must be registered under the Exchange Act.

A. Changes to the Number of Outstanding Shares

Check this box to indicate there were no changes to the number of outstanding shares within the past two completed fiscal years and any subsequent periods: ☒

Shares Outstanding as of Second Most Recent Fiscal Year End: Opening Balance Date 12/31/20 124,756,158 Common: Preferred: N/A	*Right-click the rows below and select "Insert" to add rows as needed.
Date of Transaction	Transaction type (e.g. new issuance, cancellation, shares returned to treasury)	Number of Shares Issued (or cancelled)	Class of Securities	Value of shares issued ($/per share) at Issuance	Were the shares issued at a discount to market price at the time of issuance? (Yes/No)	Individual/ Entity Shares were issued to (entities must have individual with voting / investment control disclosed).	Reason for share issuance (e.g. for cash or debt conversion) -OR-Nature of Services Provided	Restricted or Unrestricted as of this filing.	Exemption or Registration Type.
Shares Outstanding on Date of This Report:EndingBalanceEnding Balance: Date 12/31/21 Common: Same Preferred: N/A

B. Debt Securities, Including Promissory and Convertible Notes

Use the chart and additional space below to list and describe all outstanding promissory notes, convertible notes, convertible debentures, or any other debt instruments that may be converted into a class of the issuer's equity securities..

Check this box if there are no outstanding promissory, convertible notes or debt arrangements: ☐

Date of Note Issuance	Outstanding Balance ($)	Principal Amount at Issuance ($)	Interest Accrued ($)	Maturity Date	Conversion Terms (e.g. pricing mechanism for determining conversion of instrument to shares)	Name of Noteholder (entities must have individual with voting / investment control disclosed).	Reason for Issuance (e.g. Loan, Services, etc.)
8/29/13	2,575,002	1,000,000	1,575,002	12/31/20	1,000,000 Warrants $0.54	Richard Heddle CEO	Loan
9/30/13	5,100,484	2,000,000	3,100,484	12/31/20	2,000,000 Warrants $0.54	Richard Heddle CEO	Loan
11/19/14	2,249,213	1,000,000	1,249,213	12/31/20	1,000,000 Warrants $0.12	Richard Heddle CEO	Loan
8/31/16	183,697	100,000	83,697	8/24/21	1,000,000 Warrants $0.12	Jason Aspin BOD	Loan
10/18/16	722,199	400,000	322,199	10/18/21	1,000,000 Warrants $0.12	Jason Aspin BOD	Loan
5/22/16	2,457,105	1,720,643	736,462	N/A	Secured by Co. Assets	Richard Heddle CEO	Loan in CAD
9/20/17	771,097	550,000	221,097	N/A	Secured by Co. Assets	Richard Heddle CEO	Loan
2/15/18	91,331	77,938	13,393	N/A	Secured by Co. Assets	Jason Aspin BOD	Loan in CAD
7/11/18	142,854	125,000	17,854	N/A	Secured by Co. Assets	Lee Brain BOD	Loan
7/31/18	142,886	125,000	17,886	N/A	Secured by Co. Assets	Jason Aspin BOD	Loan

4)	Financial Statements
A.	The following financial statements were prepared in accordance with:
☒ U.S. GAAP
☐ IFRS
B.	The financial statements for this reporting period were prepared by (name of individual)4:

Name:	Gilbert Judd
Title:	Accountant
Relationship to Issuer:	Employee

Provide the financial statements described below for the most recent fiscal year or quarter. For the initial disclosure statement (qualifying for Pink Current Information for the first time) please provide reports for the two previous fiscal years and any subsequent interim periods.

• C. Balance sheet;

• D. Statement of income;

• E. Statement of cash flows;

• F. Statement of Changes in Shareholders' Equity

• G. Financial notes; and

• H. Audit letter, if audited

4 The financial statements requested pursuant to this item must be prepared in accordance with US GAAP or IFRS by persons with sufficient financial skills.