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well some are new this month. They have or will have the perfect mix of required personnel per shift.
GOOD QUESTION - OOPS - CAP LOCK ON
THEY ARE IN TRAINING - THEY'LL GET THERE TOO.
Sure it was answered - cutting out expensive feedstock, getting better prices for HTF, not doing any further upgrades to the property/plant, ensuring feedstock is of a quality (uncontaminated)that can be processed instead of land filled at a cost - they've indicated they have increased good plastic from 65% to 95% since Bogolin left.
fully agree. I asked them to clarify what FURTHER costs they expect to be able to cut, beyond the $800k annual savings they've shaved so far (which, let's call a pig a pig, is not enough).
unanswered.
will that was all explained in the AGM - quite logical answer really
This can't be held back much longer. They are now going to sell machines (say 10M - includes installation and training). They then will receive a maintenance contract, catalyst fees, royalties and all with no risk - sound like a plan to me. And, potentially great buyers are making inquiries.
Looks like his goal is 36 tons a day
What part of the AGM was a farce? It was fantastic. It is abundantly clear that Heddle is firmly in charge of the administrative side and that JB is in charge of the technology and Nick is in charge of Finances - but that come with their titles - no?
I believe JBI can achieve the following by the end of Q2.
1) process continuously for 30 + days with a short shut down for inspection;
2) process in excess of 2000 lb/hr;
3) process for less than $50.00 a barrel.
When proof of concept is provided will others apologize?
Will Bordynuik apologize to investors at the AGM?
Is proof of concept near? Will we hear next week that # 3 can run continuously for 30 + days without shutdown? Will they report through-put of 2000 + lb/hr? That is all we need to show proof of concept.
I expect 1 more Q of residual created by the high costs incurred shutting down the Recycling Plant and dealing with Rauber, Bogolin, Ingham and their plastic purchaser.
When those issues are completed we should see costs cut to about 500,000 and revenues increased to more 500,000.
Seems that proof of concept is here with the creation of Processor # 3.
I guess everyone missed the PR about increasing through-put gradually.
wonder when he conducted an analysis and audit of the operation?
There will be shareholders who will sell here at a loss based on Fear, Uncertainty and Doubt created by those who advocated that the company didn't provide the absolute Proof of Concept within a wildly unrealistic time frame.
Everyone must remember that Forward Looking Statements are just that and because this new technology hasn't provided that proof of concept within an unrealistic time frame that that somehow means it will never occur. I suggest everyone read or re-read the PR and Transcript of the Conference call and truly absorb the contents. Write out the positives and negatives and then decide whether proof will ever occur or whether proof of concept is eminent.
No company has ever created end-user fuel from a Plastic Pyrolysis in the past at these levels of input/output. Processor # 2 appeared to have great potential which was evidenced by the amount of through-put/output during the stack test but it became quickly apparent that these numbers could not be consistently sustained and up-time was still an issue. It was therefore necessary to construct processor # 3 in hopes that it could provide both high levels of through-put/output over longer periods of time. The company has indicated the they have been able to run the processor continuously for 42 days. We have been told that through-put will be steadily increased during Q4 and if that come to fruition then proof of concept will be upon us.
It is also apparent that there will be great demand for processors should this proof of concept occur in the near future.
http://www.plastic2oil.com/site/news-releases-master/2013/11/12/jbi-inc-announces-highest-recorded-quarterly-fuel-production-q3-financial-results-and-fourth-quarter-operations-update
well Seeking Alpha is certainly providing only part of the story - extremely bias against JBII.
Some shareholders have sold or will sell at a loss based on Fear, Uncertainty and Doubt created by those who advocated that the company didn't provide the absolute Proof of Concept within a wildly unrealistic time frame.
Everyone must remember that Forward Looking Statements are just that and because this new technology hasn't provided that proof of concept within an unrealistic time frame that that somehow means it will never occur. I suggest everyone read or re-read the PR and Transcript of the Conference call and truly absorb the contents. Write out the positives and negatives and then decide whether proof will ever occur or whether proof of concept is eminent.
No company has ever created end-user fuel from a Plastic Pyrolysis in the past at these levels of input/output. Processor # 2 appeared to have great potential which was evidenced by the amount of through-put/output during the stack test but it became quickly apparent that these numbers could not be consistently maintained and up-time was still an issue. It was therefore necessary to construct processor # 3 in hopes that it could provide both high levels of through-put/output over longer periods of time(the latest being 42 days). We have been told that through-put will be steadily increased during Q4 and if that come to fruition then proof of concept will be upon us.
It is also apparent that there will be great demand for processors should this proof of concept occur in the near future.
http://www.plastic2oil.com/site/news-releases-master/2013/11/12/jbi-inc-announces-highest-recorded-quarterly-fuel-production-q3-financial-results-and-fourth-quarter-operations-update
http://www.plastic2oil.com/files/JBI2013Q3ConferenceCall.pdf
Perhaps someone will invent a live message board that allows shareholders to type in a question.
Oh wait - just found this.
JBI, INC. will be hosting a Virtual Shareholder Meeting this year. The meeting will be held on Tuesday, December 10, 2013 at 1:30 PM ET and shareholders of record will be able to vote and ask questions online during the meeting. If you would like to attend the virtual meeting and you have your 12-digit control number, please go to www.virtualshareholdermeeting.com/jbii 15 minutes prior to the start of the meeting to log in. If you came through your brokerage firm's website and do not have your control number, you can gain access to the meeting by logging into your brokerage firm's website site 15 minutes prior to the meeting start, selecting the shareholder communications mailbox to link through to the meeting and the Control Number will automatically populate.
How does 'one' ask questions on a web broadcast AGM ?
Some shareholders have sold or will sell at a loss based on Fear, Uncertainty and Doubt created by those who advocated that the company didn't provide the absolute Proof of Concept within a wildly unrealistic time frame.
Everyone must remember that Forward Looking Statements are just that and because this new technology hasn't provided that proof of concept within an unrealistic time frame that that somehow means it will never occur. I suggest everyone read or re-read the PR and Transcript of the Conference call and truly absorb the contents. Write out the positives and negatives and then decide whether proof will ever occur or whether proof of concept is eminent.
No company has ever created end-user fuel from a Plastic Pyrolysis in the past at these levels of input/output. Processor # 2 appeared to have great potential which was evidenced by the amount of through-put/output during the stack test but it became quickly apparent that these numbers could not be consistently maintained and up-time was still an issue. It was therefore necessary to construct processor # 3 in hopes that it could provide both high levels of through-put/output over longer periods of time(the latest being 42 days). We have been told that through-put will be steadily increased during Q4 and if that come to fruition then proof of concept will be upon us.
It is also apparent that there will be great demand for processors should this proof of concept occur in the near future.
http://www.plastic2oil.com/site/news-releases-master/2013/11/12/jbi-inc-announces-highest-recorded-quarterly-fuel-production-q3-financial-results-and-fourth-quarter-operations-update
http://www.plastic2oil.com/files/JBI2013Q3ConferenceCall.pdf
I'm not really concerned when proof of concept occurs. Progress has been far faster than I expected. It could even occur this Q or the next couple but it happen when through-put reaches over 2000 lb/hr. on a consistent basis. That's where they seem to be even now. Sales will occur when those numbers are reached.
I can tell you I applied for a JV some time ago. If I have 4 to 5 people working for me and I can buy feedstock for .003 a lb I'll pay for my JV fee within a very, very short period of time. You see, I won't have to have to pay the huge expenses needed to support an entire company. They're almost CFT with a staff of 40 people - CEO and staff, CFO and staff, Legal and staff, Technology and staff, Risk Management and staff, buyers, sellers, analyst, etc. All I have to do is obtain feedstock, process and sell. Perhaps 5 people at $15.00 an hour. I'm golden very quickly.
The AGM will occur three-fourths of the way through Q4. If you are correct that through-put is steadily increasing through the quarter, do you anticipate that "proof of concept" occurs by the AGM? If not, why? And just how do we measure "proof of concept?"
Canadian
Some shareholders have sold or will sell at a loss based on Fear, Uncertainty and Doubt created by those who advocated that the company didn't provide the absolute Proof of Concept within a wildly unrealistic time frame.
Everyone must remember that Forward Looking Statements are just that and because this new technology hasn't provided that proof of concept within an unrealistic time frame that that somehow means it will never occur. I suggest everyone read or re-read the PR and Transcript of the Conference call and truly absorb the contents. Write out the positives and negatives and then decide whether proof will ever occur or whether proof of concept is eminent.
No company has ever created end-user fuel from a Plastic Pyrolysis in the past at these levels of input/output. Processor # 2 appeared to have great potential which was evidenced by the amount of through-put/output during the stack test but it became quickly apparent that these numbers could not be consistently maintained and up-time was still an issue. It was therefore necessary to construct processor # 3 in hopes that it could provide both high levels of through-put/output over longer periods of time(the latest being 42 days). We have been told that through-put will be steadily increased during Q4 and if that come to fruition then proof of concept will be upon us.
It is also apparent that there will be great demand for processors should this proof of concept occur in the near future.
http://www.plastic2oil.com/site/news-releases-master/2013/11/12/jbi-inc-announces-highest-recorded-quarterly-fuel-production-q3-financial-results-and-fourth-quarter-operations-update
http://www.plastic2oil.com/files/JBI2013Q3ConferenceCall.pdf
Well the absurd happened to me. I have three different accounts so how do I know what shares I am voting electronically when there is no share numbers mentioned for the electronic voting. I did receive 2 paper proxies one had the correct number of shares while the 2nd was nearly 200,000 shares short. Can you explain that?
I expect the engineers recommended the % to begin the process.
Or, it could be as simple as wanting figures for processor # 3 only to show potential buyers. Sound pretty legit to me - no?
I, for one, am glad they are bringing processor 3 up slowly. If there are small problems they can deal with them without it becoming major problems. A small fix may resolve a small issue but starting at 3000 or 4000 lb/hr. could create major problems resulting in major repairs/extended down time. They'll get there, and it looks like they hope to do so this Q.
Should be some updates at the AGM.
But isn't nice that we can be armchair quarterbacks with the added benefit of 20/20 hindsight and a crystal ball to see into the future. These guys are working in real time with a brand new technology the results of which creates end-user fuel. That's never been done before. Slow and easy is the name of the game right now.
The AGM is in a couple of weeks - I expect they will have mid Q numbers to report then.
yep - like I said, a few days.
Well processor # 3 has been operational for a few days now. I expect that once the processor is at full through-put/output capacity they will seek an audit and those numbers, I hope, will be published.
Our two processors that are currently in fabrication are identical to processor 3, so it’s important for us to be able to show case
the machine, and what it’s capable of, to potential buyers on site. In addition to producing fuel, Niagara Falls will continue to serve as a demonstration facility for those that could potentially
want to purchase a machine – an important reason that we make sure Processor 3 continues making fuel consistently, as it has been over the past quarter.
Still waiting for mine.
A heat & mass balance report is due any day now. Looks like a great start here - someone know something?
Good day to see a heat & mass balance report posted on the JBI website. smile
Now that Processor 3 has shown us that it has what it takes to be our flagship Processor, our business plan has shifted once again with a focus back on joint ventures and machine sales.
During our recent maintenance shutdown, after two cycles during the third quarter (one a total of 30 days, and the other a total of approximately 42 days), the kilns were both found to be in xcellent condition, without noticeable wear or damage.
Another metric we’ve been able to curb is our cost of plastic going into the machine. Crayola’s corporate overruns have acted as a significant plastic source for us over the past couple of quarters, and we estimate that Crayola plastic is costing the company about $0.03/lb to run – a very favorable price for us. In addition to
that, the Company has other significant plastic resources and does not foresee feedstock becoming a bottleneck moving through the end of 2013.
We anticipate that Processor 3’s role in total fuel production will increase as we continue to increase our feed rates slowly. Ideally, we’re looking to consistently run at a total of roughly 3,000 lbs an hour on Processor 3 and each future machine, using a proprietary combination of plastic and heat transfer fluid that adheres strictly
to our permitting.
Makes you wonder when processors 4 and 5 will be complete - sound imminent.
Our two processors that are currently in fabrication are identical to processor 3, so it’s important for us to be able to show case
the machine, and what it’s capable of, to potential buyers on site. In addition to producing fuel, Niagara Falls will continue to serve as a demonstration facility for those that could potentially
want to purchase a machine – an important reason that we make sure Processor 3 continues making fuel consistently, as it has been over the past quarter.
After reading this: "Our second run with Processor 3 was approximately 42 days, beginning on August 30th and ending on October 10th. " it's not difficult to determine that October is in the first part of the Quarter - no?
Well, there is one thing for sure. When the company is capable of running the processor comfortably at 3000 lbs. an hour and consistently for weeks at at a time it will provide proof of concept. Anyone wishing to buy one of these machines may find themselves in a bidding war. I'm thinking royalties may also be part of any agreement.
Further, 4000 lbs per/hr was the maximum rate approved by the DEC from from the old maximum of 2000 lbs. per/hr. There is nothing in the permit that requires them to run at capacity. The new permit allows them to increase through-put significantly from the initial permit and it allows them to increase through-put further should they decide to do so once the machine is broken in. And also remember that this is new technology and that no one before JBI Inc. has ever successfully converting plastic/HTF into usable end user fuel.
Read it carefully. If I'm not mistaken a permit was issued over a year ago to allow the processing of up to 4,000lbs/hr of PLASTIC. Now it appears that the Flounder is HOPING to be able to process a proprietary combination of plastic and heat transfer fluid in an unspecified ratio at a TOTAL of ROUGHLY 3,000 lbs an hour.
JBI Inc. is a processor sale away from Cash Flow Positive. They appear to have all of the components for 2 processors on sight and about ready to ship.
The friggin processor is in start-up - will you at least give it a chance to reach full capacity?