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Comments from Nick Terranova (Chief Financial Officer)12/10/13 AGM
Since mid-August, we have made some positive strides in decreasing our hard monthly operating costs and overall cash burn. Not only have we decreased the amount we are spending
on feedstock, but we have also been running efficiently in terms of our workforce at our Niagara Falls, New York plant.
We’ve also seen significant cash savings in the months since closing our recycling center.
We have also decreased any type of spending that is not relevant to our goal of making fuel. This includes a significant curtailment of any spending related to facility upgrades or improvements to the property and buildings here in Niagara Falls.
Although SG&A costs were approximately $2.73M during the third quarter of 2013, a portion of this expense, approximately $1M, was related to non-cash stock-based compensation charges for employees, and also the one-time immediate vesting of options of prior executives.
Additionally, costs related to severances paid in cash were approximately $180k. We are continuously working to keep spending at a minimum, and believe we are executing in that regard successfully.
You said that you know that processor # 3 "HAS NOT PERFORMED SUCCESSFULLY". Are you making a factual statement with this bold red capitalized comment and if so can you provide the source of that info. Some want quotes so if you can provide that too it would be great.
Mr. Heddle's comments from the Dec 10, 2013 AGM
"Additionally, we continue to be in talks with potential buyers for machines four and five.
We have received many questions regarding the business model of such a deal, and while we work out the specifics on a case-by-case basis, a potential deal would involve an up-front licensing
fee with continual royalties on fuel production, as well as machine maintenance, software maintenance, and our proprietary catalyst."
I don't think you can INFER that. They have millions of shares which gives them the potential to be billionaires.
And things are just find in JBI-land and longs are the 1st to know that.
So, they are going to roll out processors without costs? Not sure that's possible. Not everything has to be spelled out. We can all draw the conclusion that if processors are now to be sold that money is required to manufacture those processors hence the comment made by me in my post. It is certainly clear and it is not bullshit.
It was clearly inferred - sales are the business plan with royalties.
Many of the insiders already own millions. How much is enough?
Of course it was. Processors cost money and their business plan is to sell processors.. That's all in the AGM. I suppose there is small reading between the lines - but that's an easy conclusion to make - is it not?
Again that's incorrect - I said up to 3,800 lb/hr. You would be greatly mistaken if you thought that would be the average.
I thank you though for providing an excerpt from the AGM that shows just how great the potential is here.
Who knows for sure that numbers were achieved during Q 4 but again, as explained earlier today, those numbers may not be achieved for various reasons. If you read the AGM those answers are all there. Besides, they will no longer be totally dependent on fuel production for revenues. They now have their flagship and will be selling processors. The terms of any sale appears to include royalties.
I thought that was clearly answered in my 1st post and the AGM - they are no longer in the business of making fuel but rather in the business of selling processors. Thus the need for financing - roll out. Again, that's all in the AGM. Once 4 and 5 are sold the need for that funding may not be necessary.
Not sure the relevance of these comments. I was not discussing financing but do agree that the CEO and CFO are actively seeking further financing (quite likely for the last time) We should be getting an update soon.
Perhaps listening to the AGM like provide you with the answers you need. You will discover that the processor has performed successfully at rates as much as 3800 lb/hr and for 38 days. Those numbers are incredible.
I'd disagree with you. The fact that the company has laid off a lot of employees tells me that they now have a flagship processor and they are moving into sales mode. Not near as many employees needed. Once they have a few more months of data I expect that processing will be for demonstration and research only
I disagree completely. I don't believe anyone listening to the AGM would suggest that the company came close to making such a prediction for Q4. In fact, I wouldn't suggest any increases over Q3 results.
1) Mr. Bordynuik clearly stated that the Q started off slowly with part of October down for some time for inspection and maintenance. 2) Mr. Bordynuik made it abundantly clear that training new staff will take considerable time and that input/output would be impacted until they are all fully up to speed on the intricacies of the processor and,
3)They had to return unusable HTF which, undoubtedly, affected input/output.
The best Plastic Pyrolysis Processor in the world has been created by JBI and to think that they did it with far less funds and in far less time than should have been possible. Sure, it would have been better if processor # 1 could have been the flagship but after a few months of operation it became evident that a new design was required. Processor # 2 was also expected to be "the one" but, without continuous real-time clean out, it too needed to be redesigned. Processor number 3 has real-time clean out and continuous operation of 30+ days.
The current share price has absolutely nothing to do with how well processor # 3 works/will work in the future.
When processors 4 and 5 are sold (hopefully in Q1) the company will instantly become cash flow positive. The designs/engineering are all in place for quick roll-out of the modular processors going forward.
In answer to your question yes.
thanks for investing - your comments are correct
Forbes Thought Of The Day
“ The great pleasure in life is doing what people say you cannot do. ”
— Walter Bagehot
So you honestly believe that the company is a sham and that there is no plant or staff and there are massive cardboard processors to promote that sham? Do you also believe that the DEC, SAIC, Islechem, Conestoga Rovers and numerous other government officials are all in on this sham?
Really?
I can tell you they have the best intention to make a viable plastic pyrolysis processor. They are working 12-14-16+ hour days. I hear the recently laid off staff are working without pay as they believe in the company. Does that sound like anyone trying to do something bad?
To make sure the partial quote you included in your reply isn't taken out of context I've included the rest of it below.
JBI has advanced plastic pyrolysis further than any other in history. They now have a flagship processor and if it's capable of 30+ days of operation with an average of 2000 lb/hr then this company will be a huge success. I expect we'll see those results in Q1 and if sooner.
This was the entire sentence:
Why would you want to see a law suit against a company whose goal is to create a viable solution to the waste plastic problem plaguing the world.
The latest AGM provided very precise details of the progress made over the past 4 short years. JBI has evolved the technology to the point where they have a flag-ship modular processor that's capable of running in excess of 30 days with continuous clean-out, continuous through-put of over 2000 lb/hr and producing in-spec fuel.
Processors 4 and 5 are at least 75% complete and when sold will instantly provide in infusion of multimillion of dollars making the Cash Flow Positive.
Why would you want to see a law suit against a company whose goal is to create a viable solution to the waste plastic problem plaguing the world.
Should be a good Q but as noted in the AGM the numbers may not so as good as expected due to a number of factors:
- a lengthy shutdown at the beginning of the Q;
- an unscheduled shut-down for a few days due to water in the system
- staff not yet fully trained.
Q4 report hasn't been released yet so that will tell us for sure what the numbers were - that's due out in mid-March.
Are you aware or any other 20 ton processor anywhere in the world that is better?
Should be lots of covering with sales/financing imminent. When both happen we'll see a BoD seated and a major PPS increase. When will that be, a day, a week or maybe as long as a month but it's coming very soon
The latest AGM provided very precise details of the progress made over the past 4 short years. JBI has evolved the technology to the point where they have a flag-ship modular processor that's capable of running in excess of 30 days with continuous clean-out, continuous through-put of over 2000 lb/hr and producing in-spec fuel.
Processors 4 and 5 are at least 75% complete and when sold will instantly provide in infusion of multimillion of dollars making them Cash Flow Positive.
The best Plastic Pyrolysis Processor in the world has been created by JBI and to think that they did it with far less funds and in far less time than should have been possible. Sure, it would have been better if processor # 1 could have been the flagship but after a few months of operation it became evident that a new design was required. Processor # 2 was also expected to be "the one" but, without continuous real-time clean out, it too needed to be redesigned. Processor number 3 has real-time clean out and continuous operation of 30+ days.
The current share price has absolutely nothing to do with how well processor # 3 works/will work in the future.
When processors 4 and 5 are sold (hopefully in Q1) the company will instantly become cash flow positive. The designs/engineering are all in place for quick roll-out of the modular processors going forward.
Mr. Heddle's comments from the Dec 10, 2013 AGM
"Additionally, we continue to be in talks with potential buyers for machines four and five.
We have received many questions regarding the business model of such a deal, and while we work out the specifics on a case-by-case basis, a potential deal would involve an up-front licensing
fee with continual royalties on fuel production, as well as machine maintenance, software maintenance, and our proprietary catalyst."
Agree - I believe we'll see both announcements soon.
Mr. Heddle's comments from the Dec 10, 2013 AGM
"Additionally, we continue to be in talks with potential buyers for machines four and five.
We have received many questions regarding the business model of such a deal, and while we work out the specifics on a case-by-case basis, a potential deal would involve an up-front licensing
fee with continual royalties on fuel production, as well as machine maintenance, software maintenance, and our proprietary catalyst."
I expect the remaind costs are electrical, pipes and other hardware items at the new location they're being placed at.
Sale of 4 & 5 are imminent.
The answer to the is pretty obvious then isn't it.
So where exactly would two massive processors ( that would be four huge kilns now.....you know how it has been described....'the beast') be if they are 75% complete?
The best Plastic Pyrolysis Processor in the world has been created by JBI and to think that they did it with far less funds and in far less time than should have been possible. Sure, it would have been better if processor # 1 could have been the flagship but after a few months of operation it became evident that a new design was required. Processor # 2 was also expected to be "the one" but, without continuous real-time clean out, it too needed to be redesigned. Processor number 3 has real-time clean out and continuous operation of 30+ days.
The current share price has absolutely nothing to do with how well processor # 3 works/will work in the future.
When processors 4 and 5 are sold the company will instantly become cash flow positive. The designs/engineering are all in place for quick roll-out of the modular processors going forward. And, the best part, processors 4 and 5 are 75% complete and 75% paid.
Comments from Nick Terranova (Chief Financial Officer)12/10/13 AGM
Since mid-August, we have made some positive strides in decreasing our hard monthly operating costs and overall cash burn. Not only have we decreased the amount we are spending
on feedstock, but we have also been running efficiently in terms of our workforce at our Niagara Falls, New York plant.
We’ve also seen significant cash savings in the months since closing our recycling center.
We have also decreased any type of spending that is not relevant to our goal of making fuel. This includes a significant curtailment of any spending related to facility upgrades or improvements to the property and buildings here in Niagara Falls.
Although SG&A costs were approximately $2.73M during the third quarter of 2013, a portion of this expense, approximately $1M, was related to non-cash stock-based compensation charges for employees, and also the one-time immediate vesting of options of prior executives.
Additionally, costs related to severances paid in cash were approximately $180k. We are continuously working to keep spending at a minimum, and believe we are executing in that regard successfully.
there has been a raid going on in epic proportion. Having said that there has been some major accumulation going on - at these prices why not and the timing couldn't be better. Financing or sales expected very soon. And the best part is 4 & 5 are about 75 ./.complete and 75./.paid for. The future is bright. Expecting a big upswing Tuesday
So what you're saying is that Heddle is not negotiating with potential buyers of processors.
I/m not sure why that's a nothing statement it certainly isn't for shareholders - that's why we're still holding our shares.
Did JBI miss a deadline with the Q4 numbers? I don't believe those numbers are due to be released until March.
If it wasn't the best interest of shareholders what can it be deemed as, the worst interest.
Mr. Heddle's comments from the Dec 10, 2013 AGM
"Additionally, we continue to be in talks with potential buyers for machines four and five.
We have received many questions regarding the business model of such a deal, and while we work out the specifics on a case-by-case basis, a potential deal would involve an up-front licensing
fee with continual royalties on fuel production, as well as machine maintenance, software maintenance, and our proprietary catalyst."
The best Plastic Pyrolysis Processor in the world has been created by JBI and to think that they did it with far less funds and in far less time than should have been possible. Sure, it would have been better if processor # 1 could have been the flagship right out of the gate but after a few months of operation it became evident that a new design was required. Processor # 2 was also expected to be "the one" but, without continuous real-time clean out, it too needed to be redesigned. Processor number 3 has real-time clean out and continuous operation of 30+ days.
The current share price has absolutely nothing to do with how well processor # 3 works/will work in the future.
When processors 4 and 5, which are approx. 75% complete, are sold the company will instantly become cash flow positive. The designs/engineering are all in place for quick roll-out of the modular processors going forward.