It does depend on what you choose to look at. A new company will not bat 500. Your pointing out past failures using words like "inflicting" reveal a bias in your viewpoint--You haven't even looked at the video???

I would say now that there is an inevitability based on continuing progress and a reasonable acceptance that developing and launching a disruptive industry changing technology takes time. It took Haber and Bosch 4 years to scale up from a lab demo to industrial production of ammonia.


That's a stretch. I didn't see the video but I doubt rather seriously if the economic viability of the P2O process and Bordynuick's management was demonstrated to the viewers. We have seen some of the economic effects of what Bordynuick's management is capable of inflicting and it doesn't exactly fall into the category of viable. We don't have a clue about the economic viability of the P2O process except that the recent 10K exploded some of the previous speculation.

The video is much more convincing evidence that a lot of time and investor money has gone into a finished NEW technology that will make investors a nice return on their money.

That's a stretch. I didn't see the video but I doubt rather seriously if the economic viability of the P2O process and Bordynuick's management was demonstrated to the viewers. We have seen some of the economic effects of what Bordynuick's management is capable of inflicting and it doesn't exactly fall into the category of viable. We don't have a clue about the economic viability of the P2O process except that the recent 10K exploded some of the previous speculation.

The video is much more convincing evidence that a lot of time and investor money has gone into a finished NEW technology that will make investors a nice return on their money. The biggest piece of the plan has always been to get P20 from desktop concept to full scale production. You haven't been keeping your eye on the ball if you missed that.

MASSIVE FUEL SALES -- LET ME WALK YOU THROUGH THIS

(1) In 2011 JBII did a lot of testing that involves full tankers of production be given to potential customers. Full tanker samples were produced but many were used as samples for testing during months of due diligence by customers.

(2) Those tests lead to major fuel supply agreements at the end of 2011:
See Indigo Energy:
http://plastic2oil.com/site/news-releases-master/2011/12/21/jbi-inc-signs-long-term-fuel-supply-agreement-with-indigo-energy-partners-llc
See XTR Energy:
http://plastic2oil.com/site/news-releases-master/2011/12/23/jbi-inc-signs-multi-year-transport-fuel-take-off-agreement-with-xtr-energy
And the CC where a huge purchase orders with a fortune100 company began:
http://plastic2oil.com/site/events/1515/

(3) Now just after halfway into Q1 "boots on the ground" are reporting production from two machines being shipped to the above. Calls to Indigo Energy early in the quarter confirm receipt of a purchase of a rail car of fuel (400 barrels) with them eager for more. We have confirmation that the Fortune 100 company has a 500,000 liter purchase order that is actively being filled.

(4) No wonder Discovery Channel and National Public Radio are catching on. Any thoughts on what happens when JBII shows annualized fuel sales of $2 million or $500,000 in a single quarter? I figure I should get opinions now. I made a bet with a "friend" about it who I don't think I'll be hearing from ever again if I win so I'm kind of in suspense. YaknowwhatImean? :)

"I think you have to learn that there's a company behind every stock, and that there's only one real reason why stocks go up. Companies go from doing poorly to doing well or small companies grow to large companies."

~~Peter Lynch

JBII has gone from doing poorly (partnering with the Florida Group in 2009) to doing well (2010 onward). JBII is in the process of growing from a small company to a large company.

By the way, a little known CEO named Warren Buffett started out as CEO of a little known company called Berkshire Hathway -- Warren Buffett's first company as CEO that he then "managed into the ground" and to this day admits that buying and running Berkshire Hathaway was his biggest investment mistake of his career. Those people who judged Warren Buffett at the time by his brand spanking new experience as CEO while ignoring his vast talent in other areas remind me of the same type of mistake people are making when they thumb their nose at John Bordynuik. Warren Buffett made a mistake buying Berkshire Hathaway. John Bordynuik made a mistake buying PAK-IT. Buffett focused on his insurance businesses and got rid of Berkshire and went on to build an insurance investment monster. Bordynuik got rid of PAKIT and has gone one to build the first and only viable green energy process in history. They're both forgiven for their first years as CEO. :)

Nice story but that's not what happened. The original business model was to fund P2O development internally from the profits of Javaco, Pak-It and the tape reading biz. Monumental miscalculation, certainly, but not a very convincing rewrite of history. As an admittedly dull aside, the financial statements have never reflected a development stage company.

Boots on the ground are all saying that's NOW.

Can't we cite more authoritative sources than "boots on the ground"? How about a message from the company itself such as what appeared on the website during the third quarter saying that P2O production was proceeding 24/7? Wouldn't a more creditable source than boots on the ground be the production VP who was quoted as saying that business was booming last fall? Rather than boots on the ground, why not rely on the CEO himself who said that tankers were being filled early last year?

The first quarter 10-Q will reveal whether JBII is the business turnaround story of the third millennium or if the latest comments are just part of the continuing scam. Based on how well Bordynuik has managed this company thus far, I place my bet.

All development years in developmental companies have "losses". The Discovery Channel video of the processor speaks convincingly that those "losses" are better described as prudent investments in a disruptive plastics recovery technology that will redirect industry resources and close a wasteful throwaway industry into a leading resource recovery industry.

Thanks for reminding everyone of that specious wording. Maybe there is some reason to think that there are influences biasing the prosecution of JBII by the sec.

Who here would claim that the sec is immaculate???

Try this for some references then:

http://www.plastic2oil.com/site/current-partnerships

Get the point?

Not one of those links contained a single G.D. reference to JBI. What is your point?

You better buy some shares before they get too high. Feed the Beast!

Beautiful day in Niagara Falls, NY. Home of JBII beasts. I advise all to pay attention closely. Don't be distracted, or allow yourself to be misled.

Opportunity is slipping away.

As always, accumulating and happy to be long.

"I think you have to learn that there's a company behind every stock, and that there's only one real reason why stocks go up. Companies go from doing poorly to doing well or small companies grow to large companies."

~~Peter Lynch

http://watch.discoverychannel.ca/daily-planet/march-2012/daily-planet---march-20-2012/#clip641572

I guess this is your wake up call...

Great day to be a jbi shareholder.

National news with probably more to come

2 processors getting fed plastic like the beasts that that are.

Processor number 3 is expected to be finished soon.

All this equates to pure satisfaction as a shareholder.

As cramer would say. Buy buy buy!

transcript:

http://www.npr.org/templates/transcript/transcript.php?storyId=147506525

< Startup Converts Plastic To Oil, And Finds A Niche
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Heard on Morning Edition

March 19, 2012DAVID GREENE, HOST:

A new and possibly more environmentally friendly way to produce oil: it involves plastic - yes, like those soda bottles you discard.

Only 7 percent of plastic waste in the U.S. is recycled each year, according to the Environmental Protection Agency. Well, now a startup company in Niagara Falls says it can increase that amount while also reducing the country's dependence on foreign oil.

From member station WBFO, Daniel Robison has more.

(SOUNDBITE OF MACHINERY)

DANIEL ROBISON, BYLINE: This machine's known as the plastic-eating monster. Thousands of pounds of shredded milk jugs, water bottles and grocery bags tumble into a large tank where it's melted together and vaporized. This waste comes from landfills and dumps from all over the United States.

JOHN BORDYNUIK: Basically, they've been mining their piles for us and sending them here.

ROBISON: John Bordynuik runs his namesake company, JBI, Inc. He's invented a process that converts plastic into oil by rearranging its hydrocarbon chains. According to tests by the New York Department of Environmental Conservation, JBI's patented technology is efficient, with close to 90 percent of plastics coming out as fuel. Bordynuik says that makes the case for this kind of recycling to go mainstream.

BORDYNUIK: When there have been attempts in the past to make fuel from plastic, it's been a low quality, low flashpoint, kind of sludgy. In this case here, we're making a very highly refined, consistent product that's within specifications of any standardized fuel.

ROBISON: JBI executive Bob Molodynia points to a spout at the other end of the plastic-eating machine dripping a thin, brown liquid.

BOB MOLODYNIA: You could tap this right now, and this is ready to go. That's a number six fuel. That's what a lot of like U.S. Steel uses, a lot of major companies. That's what they pay the big bucks for, right there.

ROBISON: Each barrel of oil costs about $10 to produce, which JBI can sell for around $100 through a national distributor. The young company is already producing a few thousand gallons of oil a day. They've signed lucrative deals to set up operations next to companies with large volumes of plastic waste. But in its rush to grow, JBI has been accused by the SEC of overvaluing some of its assets in order to raise more funds. And John Bordynuik says it's been hard to find acceptance from potential oil buyers because JBI's product has been dubbed a green fuel.

BORDYNUIK: We don't make a synthetic other product that has problems. We make an in-spec fuel just like everyone else. In fact, if anything, the word "alternative" has a stigma attached to it, more so because of prior attempts.

ROBISON: If JBI has its way, plastics will become a significant source of domestic fuel that reduces the country's dependence on foreign oil. But just how green is JBI's recycling when it produces a fossil fuel that pollutes just like any other?

CARSON MAXTED: To enter themselves into this industry, I think that they've all bought into the idea of producing a fuel.

ROBISON: Carson Maxted is with Resource Recycling, the plastic recycling industry's trade journal. He's not sure whether converting plastic to oil can be considered recycling or even environmentally-friendly. But he says JBI's methods can co-exist and even complement current recycling practices.

MAXTED: So they're getting value from something that would otherwise go into the landfill, because the plastics, most of them are looking for, the plastics that are either not easily recycled. They're of low quality or of mixed plastic types, or that they're dirty, things that wouldn't be accepted into a recycler.

ROBISON: And since there's no lack of plastic supply or demand for oil, Maxted says this technology has the potential to transform both industries.

For NPR News, I'm Daniel Robison in Buffalo, New York.

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Boots on the ground are all saying that's NOW.

Interesting comment found elsewhere on the internet:

>>>> The second plastic to oil machine is operating. 3 tankers shipped a week since operational. No tankers or fuel inbound. As I stated in my prior post, fuel transportation is a small world. <<<<

Interesting about Agigoo -- they got a many year headstart and didn't get a lick of funding until they started selling some tankers. Now we've advanced to Agigoo's stage and more.

Me thinks all heaven is going to break loose. Whales of all sorts love a good environmental clean-up story that makes money and will be lining up in droves to help out now that proof of concept is official.

Item 4. Use of Proceeds. as of April 6, 2009

USE OF PROCEEDS

The selling stockholders are selling shares of common stock covered by this prospectus for their own account.

We will not receive any of the proceeds from the resale of these shares.

We have agreed to bear the expenses relating to the registration of the shares for the selling security holders.





that is sooooooo 3 years ago :)

Great video right!? It showed the new P20 machines making clean desired fuel that has been paid for by OTC shareholders and pipe investors who believe in this spectacular company.

It is my understanding that only smart people are shareholders and or partners with JBII....

http://media.gm.com/media/us/en/gm/news.detail.html/content/Pages/news/us/en/2012/Mar/0312_greenleaders

http://www.chrysler.com/crossbrand/intl_site_locator/index.html

http://www.cocogroup.com/

http://xtrenergy.ca/wholesale-fuel-supply.php

http://indigoenergy.com/terminal_locations/terminal.html

http://www.rocktenn.com/about-us/smurfit-stone/supplier-zone/WhatWeBuy.htm

Really REAL!

"This could be the final piece of the sustainability puzzle for plastics"

Man I do love that quote at the very end of the Discovery Channel video!!

Wake me up when they are running these things 24x7...

No it is not. I work in Project Controls. Contols is a concept. It does not matter what systems the financials are runnning on. And this is not a huge company. Maybe if they had to implement SAP or something, one could make this excuse. But, excuse me... JBI is 50 employees or so? ALmost anything will do.

THey are talking about Cost Control.

Means people are spending money left right and center with no approvals.

By my readin of the para, they were late because mistakes were made and transactions had to be recoreded late. Also, the results may be wrong now or in the future for the same reasons.

I bet there was alot of internal discussion between JBI and the CFO over that...

pristine indeed. 'internal controls' is cpaspeak for 'please upgrade your computer equipment' - BFD
the financial statements themselves were audited and opined they were PERFECT

jbi isn't spending anything of the sort. most of that was noncash costs, one timers, development costs, stack test, and pakit. they no longer own pakit so its incorrect to include all that going forward. operating cash flow is maybe 400k a month which is less than what 1 processor can make.

They will settle but not for that list of garbage :) JBII will be fined, nothing will happen to the company or its personnel and once that fiasco is over with, JBI can direct its full attention to building processors for its partners starting off with Rock Tenn

Pristine Auditor Report? hardly

http://www.sec.gov/Archives/edgar/data/1381105/000121390012001206/f10k2011_jbi.htm

Page 64

"....A material weakness is a control deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis.

As described in Management’s Annual Report on Internal Control over Financial Reporting, the Company did not maintain effective control over financial reporting as of December 31, 2011 due to pervasive control deficiencies and material weaknesses. The existence of pervasive control deficiencies and material weaknesses impair the effectiveness of other controls by rendering their design ineffective or by keeping them from operating effectively. The Company’s material weaknesses are a result of a lack of policies and procedures, with the associated internal controls, to appropriately address entity level matters. Management concluded that the lack of adherence to the Board of Directors’ policies and more specifically, the Audit Committee Charter, which requires a three member committee with one member qualified as a “financial expert”, caused a failure at the entity level for proper governance over the Company’s financial reporting environment. The lack of oversight on the Company’s routine transactions, as well as a sufficient number of qualified personnel to timely account for such transactions in accordance with U.S. GAAP resulted in the recording of numerous post-closing and late adjusting journal entries during the quarterly reviews and delayed the financial statement closing process for the fiscal year ended 2011.

These material weaknesses were considered in determining the nature, timing, and extent of audit tests applied in our audit of the 2011 consolidated financial statements, and this report does not affect our report dated March 15, 2012, on those consolidated financial statements.

In our opinion, because of the effect of the material weaknesses described above on the achievement of the objectives of the control criteria, The Company has not maintained effective internal control over financial reporting as of December 31, 2011 based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO)...."

the auditor agreed 100% with jbi's financials are absolutely pristine actually:

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of JBI, Inc. as of December 31, 2011 and 2010 and the results of its operations and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.

JBII is losing at least $1,250,000 per month

according to the latest 10K.

Each of the thousands of barrels you cite has historically been sold at a huge overall loss

2011 Plastic to Oil Sales $ 288,442 (inc sales of waste paper)
2011 Net (Loss) from Continuing Operations -$15,119,658
NET LOSS -$18,259,363

http://www.sec.gov/Archives/edgar/data/1381105/000121390012001206/f10k2011_jbi.htm

JBII is making and selling thousands of barrels of fuel as I type to you.

I personally find that quite annoying. :)

Anyway, I don't know why some funds invested in Agilyx. Maybe they like toxic fumes and gas masks, I don't know, but none of them invested very much and perhaps they got venture capitalist size stakes that gives them majority of the company if they ever go public and for less than $2 million a piece. However, what I do know is that JBII has at least "3 very high net worth individuals" and at least one of them, a world famous billionaire, was at the last annual shareholder meeting with around 500 witnesses. It was also mentioned at that same shareholder meeting that JBII had "billion dollar conglomerates" invested. Now I have no idea what the heaven that means, but it sure sounds like institutional support to me, and clearly not doing it for publicity (aka greenwashing as Waste Management are known to do) but are doing so for actual investment purposes without the benefit of being venture capital.

But what do I know? I'm the dummy who thought waste plastic was free even though you can find a bucket of it for $650/ton in Iceland through alibaba.com even though over 12 million tons of argiculutral plastic alone are landfilled annually in the USA alone because there's no viable way to recycle it.

They were repeated for each defendant.

There are legal language requirements that must be followed.

It's pretty standard.

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A SEC attorney used the word 'purported' in a Federal Fraud case

The company's own auditor used the words 'adverse opinion' in their audit.

The company management used the words 'We have not performed an in-depth analysis to determine if in the past undiscovered failures of internal controls exist'

Those are strong words

LoL. I'm in complete agreement. I went thru it carefully to see how many "infractions" were repeated.

BTW any info on your complaint to the OIG?

Darn IPad auto correct...lol

If they have courted IB's they sure have done a poor job of it. As obviously they could not even hook any. I guess the IBs are mostly wise enough to see the too good to be true story and laughable antics.
That is something that should make anyone think. Why do companies like Agylix get money from institutional investors and JBII does not? With the claims by JBII being to be so much better in every aspect? Are all those fund managers and large companies stupid or do they understand something that people who believe the JBII story don't?

i have a tough time believing that
that sec complaint was actually
*authored* by a *purported* sec employee

it's easy to DD prior complaints within the
boston office and do some comparisons

there aren't any quite as >> er >> wordy
essentially stating the same *info* 20 times over
it struck me as odd from the git go >> almost as if
compensated by the word written

just another oddity in amongst a few others where
the sec and jbi and domark are concerned

==
4kids
all jmo

Good point , maybe JBI no longer is interested in courting the big investment bankers.

Perhaps the funding issues are already in process.

I re-read the complaint today. What I find odd is that the complaint uses the word purported when describing p2O. Maybe, Martin Healy needs to visit the plant and check out the processor running and producing spec fuels. There is nothing purported about the machines. They are real.

This is not a stock selling scam as many wish to believe, but an industry and company about to become large.

JBI is in current commercial fuel production. They have 2 processors operating. We will find out at what rate over the next coming quarters.

There is evidence that both processors are converting 2000 pounds of plastic each hour at an 86.7% conversion rate.

How many days has JBII traded in the pennies in the last 52 weeks? In case you don't know JBI takes unwashed waste plastic and converts it into spec fuels.

I would call the estimation of future oil prices useful information pertaining to a fuel company.

Define the output and duration of JBI's 'commercial operation'

When did commercial operation start?

How much fuel has been produced?

No, I'm thinking more along these lines in regards to potential SEC penalties for JBI & JB

"...realizing illicit profits of approximately $270,000 in two personal trading accounts.

To settle the SEC’s charges, Kimelman consented to the entry of a final judgment that: (i) permanently enjoins him from violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder; and (ii) orders him to pay disgorgement of $273,255, plus prejudgment interest of $54,582. In a related SEC administrative proceeding, Kimelman consented to the entry of an SEC order barring him from association with any broker or dealer, investment adviser, municipal securities dealer or transfer agent, and barring him from participating in any offering of a penny stock. Kimelman previously was found guilty of securities fraud and conspiracy to commit securities fraud in a related criminal case, United States v. Michael Kimelman, 10-CR-0056 (S.D.N.Y.), and was sentenced to 30 months in prison and ordered to pay a criminal forfeiture of $289,079.

http://www.sec.gov/litigation/litreleases/2012/lr22299.htm

Notice the 1) Forfeiture : 2) Disgorgement : 3) prejudgement interest : 4) the penny stock bar and : 5) his consent rather a trial

And, before you go all technical on me I understand that the cases are somewhat different, but so is the Xerox case you cited.

Thanks for the report... Always appreciate our locals giving us updates. Jbi lookin real good!

I dunno, what would you call it to post how oil is gonna hit $200 a barrel on a penny stock board, huh.

tankers?

JBI continues to convert plastic to fuel. More trucks left the plant today. Another day in the life of a progressive company making a difference. Get rid of the plastic waste and convert it to re-usable fuel. Now that's what I call a win/win for all!

Can you disprove the URS contract? By all means ask him your question. (Hint: leave the Honest and Juicy part out you m get an answer!)

You seem to have mis-understood part of my question: "What companies..." not "What type of companies...". I was hoping that you could cite an example or two of companies that publish URS type audits.

our baby is finally making it on t.v

so exciting...this yr is gonna mark the turning point for the company....need some patience here....good things are slowly happening

"(H)ere's to proc no 3 8k'd by JBI's mgmt." AMEN!

Take those pathetically weak allegations to Court and see where you come out....LOL....!!!!!....Not going to happen.....Those items are of no significance from here on out, where JBI is concerned.

Everyone already knows that JBI's P2O process is proven, viable, and certified to every possible, immaginable standard....There's been no "hold-up"......LOL!!!!!!!.....AND NOW,,,,,,producing that same certified fuel at astounding rates....!!!!......Just ratein'...