Plastic2oil, Inc. Reports Earnings Results for the Full Year Ended December 31, 2018
June 04, 2019 at 03:02 am IST
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Plastic2Oil, Inc. announced earnings results for the full year ended December 31, 2018. For the full year, the company announced operating loss was USD 990,882 compared to USD 1.362 million a year ago. Net loss was USD 2.777 million compared to USD 1.474 million a year ago. Basic loss per share from continuing operations was USD 0.02 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.