Plastic2oil, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019
December 16, 2019 at 04:33 pm EST
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Plastic2Oil, Inc. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced operating loss was USD 165,068 compared to USD 271,247 a year ago. Net loss was USD 457,117 compared to USD 525,637 a year ago. For the nine months, operating loss was USD 545,098 compared to USD 898,832 a year ago. Net loss was USD 1.406 million compared to USD 1.624 million 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. 
