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machine". Petitioner told Roberts: "If you have a demonstration
of this, and I'm going to do this, I certainly understand the
economics. I understand what you're trying to do, but I want to
see it working." He explained: "I would never invest in
anything unless I saw it".
Roberts suggested that petitioner visit the PI plant in
Hyannis, Massachusetts, and arranged a date for him to visit. PI
was located near a house on Cape Cod where petitioners vacationed
at the time. At PI, petitioner spent the first "hour to two
hours" in Bambara's office discussing and examining samples of
plastics products made by PI. Bambara "asked [petitioner] to
sign a secrecy agreement, and sort of twisted [his] arm a little
bit about nondisclosure, and things like that." After signing
the agreement, petitioner was allowed to tour the plant.
Petitioner recalled that the PI representatives "were a little
uncomfortable that somebody that knew plastics technology and
plastics economics was going to visit the plant" and "were very
reluctant to give me any information." According to petitioner,
the PI representatives refused to give petitioner any of the
information that he asked for, such as company records,
purportedly because petitioner was there to perform due diligence
and was not an investor.
Petitioner viewed a demonstration of the machine, which he
recalled as follows:
What they did was they took the plastic scrap that
they were manufacturing * * * [and] ran it through one
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