JBII -- 310 Holdings, Inc., Changes Name to JBI, Inc. and Reports Profitable 9 Month
Results
NIAGARA FALLS, Ontario, Oct 8, 2009 (GlobeNewswire via COMTEX) -- 310 Holdings,
Inc. (the "Company") (TRTN) has changed its corporate name to JBI, Inc. ("JBI")
and will be announcing a symbol change when available. Additionally, the Company
is pleased to announce that JBI's unaudited nine month consolidated pro-forma
revenues (ending Sept. 30, 2009) totaled $10,156,919 with total assets valued at
$22,486,751. The Company reported net earnings of $167,398. Full financial
details are available on the Company's Form 8-K filed with the Securities &
Exchange Commission on October 7, 2009 at http://www.sec.gov.
JBI CEO and President, John Bordynuik, said, "Currently, we are working to
integrate the Company's recently acquired wholly owned subsidiary Pak-It, LLC's
'Made In Canada' manufacturing and marketing operations with that of JBI. Also, I
am pleased that the Company is profitable in light of the recently incurred,
non-recurring costs and fees associated with our recent acquisitions of Javaco
and Pak-It, LLC. We are progressing with our Plastic2Oil operations and investing
our profits into this business unit."
The Company is committed to investing its resources in long-term highly
sustainable growth and real value through the Company's recently acquired
subsidiaries.
An interactive conference call date will be announced through a Press Release in
the near future. The CEO / President will be available on this call to give the
investment community an update on the Company's progress and answer investor
inquiries.
About JBI, Inc.
JBI, Inc. is transitioning to become a global technology leader whose purpose is
to mine data from JBI's large information archive, find under-productive entities
to inject our superior proprietary technologies into, and benefit from increased
productivity and profitability, beginning with Plastic2Oil. JBI has also acquired
the following operations:
JAVACO, Inc. ("Javaco") is part of the Supplier Diversity Network, WBENC. JAVACO,
Inc. currently distributes over 100 lines of equipment from fiber optic
transmitters to RF connectors. To further enhance business in the United States,
new distribution lines are frequently being added including a line of home
theater and audio video products. Javaco will operate and manage the Company's
Plastic2Oil sites in Mexico.
Pak-It, LLC ("Pak-It"): Using the patented Pak-It(TM) delivery system (liquid
cleaner in a water soluble sachet) Pak-It can deliver glass cleaner,
disinfectant, multi-purpose, and many more cleaning products (42 products
currently) shipped in tiny packages of condensed cleaner (inside a 'dry' 1 quart
container). This delivery method is "green" since it's fully biodegradable and
saves thousands of dollars in shipping. The user simply adds water to the
container without measuring or cutting the Pak-It. Large retailers (like Home
Depot and Office Depot) and many national Building Service Contractors already
using the product have documented significant cost savings from shipping,
training, inventory control and space.
Accordingly, our revenue sources presently include (i) income from reading
archived tapes (including microfiche) from clients such as NASA, (ii) income from
the recently acquired JavaCo, Inc., (iii) income from the sale of Pak-It
products, and bulk chemical facility which we realize beginning October 1, 2009,
and (iv) from the anticipated commencement of operations in the fourth quarter of
2009 with Plastic2Oil, a process and service that converts plastic to fuel oil.
For more information, please see http://www.johnbordynuik.com and
http://www.javacoinc.com and http://www.pakit.com/.
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking
statements" within the meaning of the Securities Act of 1933 and the Securities
Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act.
The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several
significant substantive changes affecting certain cases brought under the federal
securities laws, including changes related to pleading, discovery, liability,
class representation and awards fees and of 1995. Those statements include
statements regarding the intent, belief or current expectations of JBI, Inc., and
members of its management as well as the assumptions on which such statements are
based. Prospective investors are
News 
Market Data 
Discover 
