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What's fishy about it???? Is it fishier than using ones own children's trust fund to conduct illegal stock transfers with the help of Grandma?????
What he did was wrong, he was litigated for it and paid dearly for it as well. He also caused the company to be penalized as well. There is no argument to be made in defense of violating SEC rules.
lol greasy failure????
In the consent judgments, the Court ordered JBI to pay $150,000 and Bordynuik to pay $110,000 in civil monetary penalties.
the Court ordered Baldwin to pay $25,000 in civil monetary penalties.
Total settlement $285,000
The final judgment against JBI permanently enjoined the company from violating Section 17(a) of the Securities Act of 1933 (“Securities Act”) and Sections 10(b), 13(a), 13(b)(2)(A), 13(b)(2)(B) and 13(b)(5) of the Securities Exchange Act of 1934 (“Exchange Act”) and Rules 10b-5, 12b-20, 13a-1, 13a-11, and 13a-13 thereunder, and ordered JBI to pay a civil monetary penalty of $150,000.
The final judgment against Bordynuik permanently enjoined him from violating Section 17(a) of the Securities Act and Sections 10(b) and 13(b)(5) of the Exchange Act and Rules 10b-5, 13a-14, 13b2-1 and 13b2-2 thereunder, and from aiding and abetting violations of Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act and Rules 12b-20, 13a-1, and 13a-11, and ordered him to pay a civil penalty of $110,000. Bordynuik also was barred for five years (from March 18, 2013) from acting as an officer or director of a public company.
The final judgment permanently enjoins Baldwin from violating Section 17(a) of the Securities Act of 1933 ("Securities Act") and Sections 10(b) and 13(b)(5) of the Securities Exchange Act of 1934 ("Exchange Act") and Rules 10b-5, 13b2-1 and 13a-14 thereunder, and aiding and abetting violations of Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act and Rules 12b-20 and 13a-1 thereunder, and orders Baldwin to pay a civil penalty of $25,000. Baldwin is also barred for five years from acting as an officer or director of a public company.
No way on earth this is considered a failure by any stretch.
Nobody, and I mean nobody at the SEC was forced to take a lower paying job because of a 100% successful litigation, 6 figure settlement and officer/director bans of 5 years. That's called a successful litigation and anybody inferring otherwise is blowing smoke.
I know. I know!!!! They are flat broke and can't afford to run it. The money they do raise seems to be for other things like His Excellency or to hire a CFO who can't file a 10-K. Which only goes to prove that the processors are total shit that don't make money.
Shit can all employees and have JB run that processor by himself with no overhead and bare minimum general/admin costs and let's see if it makes a penny in profit. I say no and I say the $2.2 million annual in one was a total lie based on zero known facts, used to sell stock funneled through his kids trusts, given to promoters who hyped those numbers to people who simply didn't know any different.
Is that close???? JB never could support any of his claims with actual results. NeVer has and never will
Fact, any company funded by shareholders and having required filing requirements that misses that filing deadline, files an extension and promptly misses that too then refuses to address their shareholders is pathetic.
It's been a week since the extension period expired and nothing. Yeah, typical JBII/JB treatment of shareholders. Pump the stock, sell them shares then screw them over time and time again.
Nothing ever changes here. Same old bullshit, same old refusal to address what they say they will do but never accomplish.
Kind of like when they sell a processor or build a P2O ship or have a P2O farm or uplist or clear $2.2 million from a processor or have 1 area in Florida or 1 territory or come clean about those 14 unnamed recipients of shady stock????
Give me 1 good reason why a company that is 1 week behind the expiration of their extension would fail to provide an update to their shareholders who pay all their salaries and who want to know WTF is up with the 10-K?????
This company sucks more and more every day.
Uh, you may not have noticed but JBII isn't filing financials which means nobody knows what the cash burn is or was. What's so mythical about it? Nothing actually. The only thing mythical here is JBIi's desire to keep shareholders updated, provide transparency and sell processors.
JBII is focusing on sales of their dogshit processors because they can't afford to run said dogshit processors at a loss each and every day. In other words, they have decided that spending millions to create an insignificant amount of fuel at a cost that has never come close to meeting their general/admin obligations is no longer financially viable.
In other words, they screwed funders with fake media credit valuations, lost their ability to raise substantial funds, promoted the stock with shady stock transfers and billshit press releases and now can't find a legitimate way to find funds. Their own deceitful ways have caught up with them. Now they have to offer up discounted stock as bait just to raise 1/3 of what they were hoping for.
I know, I know, people liked the stories that involved the lies, deceit, shady stock transfers and bullshit PR's as opposed to the truth which is today's situation. And in reality, the truth today was the truth then minus the deceitful bullshit that got them in trouble. Not such a sexy story when the layers of bullshit lies and securities violations are the only thing in the trophy case.
The qualifications must be nearly unattainable for a mere mortal. Maybe JB will invent a processor that will use waste plastic and turn it into a qualified board member????
The way things stand over the last month.
JB admitted to violations that include shady stock transfers as well as knowingly filing financials that included improperly valued media credits. He paid $170,00 fine but did not disclose the names of the 14 unnamed recipients of those transfers.
The company missed it's filing deadline for their 10-K and then missed their deadline for the extension. They are currently a week beyond that deadline without a single update as to the status of the filing to the shareholders JB has already admitted to screwing over.
Not a single sale of the greatest processor in the entire universe while companies like Dow Chemical invest with other companies in the field.
Completely dark, no way for any investor to have any current or accurate info about the company. The same company/founder who has faces litigation, settlements and officers bans in 2 separate countries.
Documented facts clearly show deceit. JBII not forthcoming or transparent. No logical reason to trust, believe or invest in this company at all. Believers going off of the word of JBII. Facts show that approach is not wise.
The end of the road is very close at hand.
It's already ridiculous. Once the extension period expired they owed their shareholders an update and a hard date as to when the filing would be made or to be told that the filing won't be made.
It's ridiculous that they let the date pass in silence. And look how nobody has a clue when or if they will file. Bottom line is that there is absolutely no reason that shareholders aren't updated on the 10-K
I was wondering who won the "name the first tanker" contest????
Funny, you say it's the best ever invented?? JBII must have crackhead shit for brains sales people then because waste management invested $22 million elsewhere and Dow Chemical just contracted with someone else too.
Two huge names, two huge investments and the best ever invented sits here without a date to the dance???? How does the best ever get passed up by everyone who is 100 times smarter than you about the process???? Ahhhh, because they don't have the best ever invented. They have nothing that anybody wants. No sales equal no interest.
They aren't selling machines just like they aren't making ships, developing farms,territories and areas in Florida. They never do what they say. 5 years of solid proof of that.
Long term holders invested in fuel sales. The old $10/bbl cost to produce oil that, at the time would be sold for WTC -$3/bbl. the number used at the time was WTC $71 -$3 for a return of $68. It was stated that the processors, working at the claimed production rate would clear JBII $2.2 million per processor.
But that all turned out to be total bullshit so they had to "change their business plan". Even though that change of plan was nothing more than covering up the fact that they put out bogus numbers to drive stock sales and they had no ability to do any of the things they claimed to be able to do.
It's all about machine sales now but if you recall, long term holders bought based on territories, areas in Florida, P2O farms and ships. JBII was going to operate the farms, produce the oil and give farmers free fuel for allowing them to use their land. The P2O ships were going to sail the world. Municipalities were going to partner with JBII.
Now that all of that bullshit has produced a big fat zero, of course it's all about machine sea now. Because all other possible functions have been hyped into the ground with no results whatsoever.
All other silly shit has been proven to be total lies and deceit. What else could they use other than machine sales????
Bullshit, that's laughable. First of all, Martha suffered greatly. Had her issue been duping her own funders and investors she would be toast. He company suffered huge because of what she did and it had nothing to do with her own company. Sales went into the shitter, she lost nearly all the advertising revenue for her magazine and she went to prison. She spent millions upon millions with a PR firm rebuilding her name and brand.
JB has no name and no brand. He is doing nothing to try and address what he did or rebuild trust and confidence.
Can you name one penny stock CEO litigated and removed from his position whose company still survived let alone thrived after the case was settled???? Just one will do.
Penny stocks don't operate like big board stocks. Comparing Martha Stewart to JB is kind of funny really.
Let's compare him to other penny stock CEO's. I'll let you provide a few examples of others I. This same are a and we can compare the outcomes of their companies.
There are so many factors involved and yes they would care. It's called a background check. And JB wouldn't pass one. His company has no past sales of processors or any other kind of marketable history that would shape a reputation that a buyer could rely on. The company has a very poor financial standing which means if you buy a machine and there are issues with it nobody may be around to answer questions or service it.
Kind of like you buying the first car from a new car maker who just closed all their dealerships, fired all their help, as late on showing their financial position yet they are offering you this nice long worry free warranty while you worry that they will even be around in a month to stand behind it.
You buy quality products from reputable companies for a reason. That reason goes beyond just the product itself. Way beyond. And I'm sure everybody knows that. Quality does matter but it's worthless if after you get it home the company folds and you have no ability to take advantage of the "service after the sale". And with no history you have to determine if it's worth the investment based on what the company has done and JB admittedly deceived funders and investors through unlawful accounting and stock transfers. That's a massive red flag.
Give me one reason why a potential customer would not believe that JB is behind deceiving his customers as well??? I don't buy from admitted violators who deceived the very people who funded his company. That means nobody is beyond his deceptive behavior.
That's what you are going with???? How long ago did they say they had a processor available for sale and you know a sales team would have had all the leg work done. It's ridiculous to defend them. They have had nearly 5 years to have a buyer prepped for a purchase. Again if the processor is the best possible processor out there then the list of buyers would be long and the paperwork done before the processor is built. There are no buyers.
Sorry that makes no sense. If you, as just a simple investor are aware if just how great this processor is, the best in the world as you claim then anybody who would actually buy one in order to capitalize on it's ability would know 100 times more about it than you.
If it was that great there would be sales. Lots of them. Selling faster than they could make them. To claim they have the best of the best but haven't sold a single one makes no sense.
Okay, let's do this. It's obvious that the 2 sides here disagree on processor sales. One side uses history and logic as a basis while the other side seems to think that ignoring history and relying on a dream is the way to go. What date in 2014 do you require this sale to take place by before you decide JB screwed you like a drunken prom date????
Surely you have some kind of time frame for him to make all his past transgressions good right??? Or is it just endless support and endless forgiveness????
300,000 shares to assist in uplisting. That was money well spent huh?????
Hey JB can I have 300,000 shares to get you uplisted to the NYSE????
It's amazing how the funneling of free shares to shady promoters can inflate the price. Especially when the CEO obliges with bullshit claims in press releases. But, reality always trumps bullshit. The insiders made millions and the commons lost. Any buy and hold investor has been murdered. Flippers pick up the promoters scraps for minimal gains. Insiders, flippers and then commons. 2 of those make money off the 3rd.
And nearly 5 years later those "services" have resulted in a 98% loss. How insanely stupid is that???? And why would anybody disguise legitimate transactions and hide them for the investors he was supposed to be protecting???? Yeah, makes no sense.
Rawnoc is going grocery shopping. He has his wife withdraw and transfer money out of his kids college find. He instructs her to give this money to 14 individuals for their assistance in getting groceries. LMAO!!!
Nope, there is no need to go through all that for day to day costs associated with doing business and you definitely don't use your kids trust to hide your transfers and transactions. It's just ignorant to suggest that nothing shady took place.
About as useless as a processor that doesn't work as expected, doesn't make money, doesn't sell and cost $60 million + to develop. LMAO!!!!! Over $60 million for a processor that doesn't make money....that's just spec-friggin-tacular!!!!!!!
What does that mean to a potential investor today???? "Here buy our .06 shares and be a bagholder for life?"
So a company that has never been able to meet it's own stated claims, is currently in violation of their SEC reporting requirements and has no money is claiming to have processor sales on the horizon and it's believed??? Based on absolute prayers not on any kind of logic or by using any kind of corporate accomplishments over the last 5 years.
No wonder penny stock scams are so widespread. Logic is out the window.
That line of thinking is why hundreds of people will lose their investment. A company that has deceived investors and funders. A company that out out bogus claims, never corrected them, has been mismanaged, CEO's banned by regulators in 2 countries. Ran out if money, let their employees go, currently in violation of SEC reporting requirements.
It's been a 5 year fumble f$&@. But none of that matters because even though this company has been less than honest, deceitful, poorly managed, fined and had it's CEO removed.
Why would anybody believe that the latest ruse is remotely true??? A dishonest company doesn't just become honest "this time" when all of the "last times" were total bullshit.
Actually the history of JBII doesn't point to any processor sales. They can't do basic things like file a 10K or provide transparency. The processors don't make money which greatly reduces the probability of selling one and the company is broke which also is a problem. To suggest that things will be different when nothing different exists to make that statement logical seems odd to me.
There is a distinct 5 year pattern here that has not changed regardless of who the CEO is. False claims, false valuations, illegal stock distributions, no transparency, no 10K, no money, no nothing.
Change comes in small steps that turn into big steps. They don't just suck for 5 years then magically become something different. It's a process and this company has no process to turn things around.
Based on what exactly? This company has never proven to be a long term going concern. Not one CEO has turned things around. There is nothing that suggests things will ever turn around. Behind the grace period for the 10K, most workers fired, processors not running consistently which proves they aren't profitable and no sales. It's a very sad state of affairs at JBII. That's just the facts.
Is t this the time to pay it all out on the table? I mean, if there is anything good to say then say it. If things are bad, which most people agree they are, lay out a realistic plan with realistic goals. As the company meets a goal investor confidence would slowly return. Example:
1). The 10k will be filed by _____________
2). Actual current production costs and returns for processors are ________________
3). Current state of processor sales is __________________
That's a fair start. Silence is never golden in the penny market. They as hurting themselves horribly which doesn't lead me to believe that Heddle is the guy for the job.
Okay, I can accept that. However:
Since they were so forthcoming with totally incorrect forecasts why have they failed to scale down those forecasts into some real world numbers as far as cost, Production rates, up times and real world applications, expectations and forecasts?????
You do understand that these machines went from a claim of making $2.2 million to not even knowing if they are capable of turning a profit which definitely changes to direction of the entire process.
Why is their no transparency to speak of???? Don't you feel as if it would be beneficial if people actually knew what to expect and could invest based on that other than the complete and total unknown?? The share price volatility is based entirely on uncertainty of results.
Rawnoc: serious topic of conversation here. Viable discussion, no bullshit.
In your opinion how can a company claim nearly 5 years ago that a processor site will clear $2.2 million annually, creating $10/bbl oil and selling at WTC -$3/bbl which at the time was $71/bbl then claim to actually improve the technology which would logically increase the return right?????
But in that entire time frame be unable to duplicate that claim???? Honestly not even come close to such a claim???? They haven't run a processor at the claimed production rate, haven't made any oil for $10/bbl, haven't sold a single processor or created a single processor site anywhere for anybody. They claimed they were ready to roll this all out in early 2010??????
Where are the buyers??? Where are actual production numbers that match the claims??? Why has absolutely nothing that they claimed to be doing taken place????
They have bombed on every level and are now shutting down the processors as well as the company. Nothing has come to fruition. How does one look at this and come to the conclusion that they will sell processors????? What real info is such an opinion based on????
I hope you take the time to respond logically. The questions are 100% valid, no bullshit, straightforward questions based on actual events and financial results that are compared to "forward looking press releases"
"I wonder what the story will be next quarter"
Heddle seizes all remaining assets, JBII has no operations, out of capital and sells zero processors. No worries, excuses will be made by many about how. Ear raid crews and naked shorts forced JB to be a swindler and he only screwed over his shareholders as a way to try and protect them LMAO!!!
But JB said over 4 years ago that each site would clear $2.2 million annually. And that was prior to how many upgrades and increased proficiencies added????? Yeah, it was all a lie to help 14 unnamed individuals sell a ton of stock for dollars per share to people who held those shares to .18 on total lies. That's gotta make some people feel good. Greed, lies and free stock. It's what makes the penny market go around.
If they are profitable great, if not that's great too LMAO!!!!! Going on 5 years and nobody has a clue if these processors are profitable or not????? More red flags than Chinese New Year!!!!!
So pray tell me.....if all that bullshit were, in fact true, why has JBII not sold a single processor to anybody in almost 5 years?????
Yeah, because it's never produced anything at the rate or cost JB claimed while funning shares through his kids trust to unscrupulous snake oil salesmen who used that to generate interest so well over a million shares could be sold for a ton of cash.
All bullshit to support stock sales. The last 5 years has totally proven that.
Multi dollar range was years ago. Currently multi penny range is now. Multi decimal point zeros to come. They won't sell processors just like they didn't start any territories, didn't develop any areas in Florida, didn't put a single site on a farm, never made $10/bbl oil, didn't convert a single ship, never cleared $2.2 million running a processor and never created a single penny in shareholder value. Not a single thing this company has done over the past 5 years suggests that a single processor will ever be sold.
What exactly has he done???? Examples of anything that he has accomplished as CEO that would equate to some kind of value for JBII????
I really ant stop laughing at the way things have "progressed". In Dec of 2009 JB said his $10/bbl oil sold at $68/bbl(WTC minus $3 @$71/bbl) would clear $2.2 million annually. This is not arguable as it was spoken by JB himself. Since then they have "supposedly" improved the technology and made better processors. So that leads is to today's discussion.
Companies buying money losing processors because of social responsibility????? It's now argued that the idea is to buy a processor for $8 million then operate it at a loss to save the environment?????
Why are we discussing losing money on a processor that clears $2.2 million annually??????
LMAO!!!!!!!!!!
This argument t makes no sense. Proving economic viability??? JB said each unit, if run at max would clear $2.2 million annually right???? Now the talk is about companies running processors that lose money or prior to proving it's viability??? All they have to do is read a JBII PR or two and see that they will make millions LMAO!!!!!