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That's exactly what it sounds like.
JB: OTCQX? And we are filing a prospectus in Ontario over the next week.
does that mean JBI is moving to or listing with a Canadian exchange?
Some of the highlights from yesterdays TV appearance. Taken from the transcipt courtesy of Techisbest and posted by Estimated Profit.
So we don’t have a five or seven million dollar machine here. We’re talking about something that maxes out around 587,000 dollars.Host: To clarify, JBII trades today on the OTC bulletin board I believe?
JB: OTCQX? And we are filing a prospectus in Ontario over the next week.
The largest client that we have right now, and we have already had our agreements go through legal, I can’t disclose their name, but what I can say is they’re an extremely large cardboard recycler. Lots of paper mills, lots of MRF’s. That’s one of many. But we spent a lot of time filtering through the requests and picking the best, lowest hanging fruit that’s ideal for this. I’d rather put another five or six processors at one site than have five processors across a number of sites.
Ellis: You said cardboards, but aren’t you talking plastic?
JB: I know, I was shocked, too. Cardboard recycling generates an enormous amount of plastic. Here in Ontario a Niagara region plant generates about 30 tons a day of waste plastic. And that’s just from plastic in lined cardboard. Those plastic tabs on the side that hold the shipping labels and other such things.
JB: Oh we make spec fuel. We can make #2, for example, heating oil. I can make it within spec perfectly every time and it’s just comes out of the machine that way. So we make a quality fuel that’s directly to a commodity price.
Host: John, when would you hope to start posting sales?
JB: Now. This week.
Host: Actual revenue?
JB: We’re filling tankers at the site now.
Host: What about serious cash flow?
JB: Serious cash flow – you’re looking at a quarter out, really. So you’re looking at Q2.
Great info straight from John...filling tankers right now - sounds like they have some inventory,serious cash flow a quarter out, agreements already gone through legal - sounds good!
Thank you!
No problem, same error message here.
Thanks Grant, but that's the link I can't get to work. If it opens for you - could you copy & paste it to me?
Could you/anyone copy & paste the transcript, I couldn't get the link to work? Thanks - Art
I believe some fuel exists, just how much I do not know. The only thing I do know is that it doesn't exist on the balance sheet as a asset or inventory.
I believe techisbest received fuel which appeared to run his lawnmower just fine. I also believe that Brigg's fuel exists and you saw what you say you did.
Thanks for the polite discussion - Art
"Or you can go with the theory that zero fuel exists, the fuel techisbest got doesn't exist, the fuel BRIG got doesn't exist, the fuel I saw made by the ton doesn't exist, and the NYSDEC is lying when they say they saw fuel being made. Personally I rather enjoy that theory rather than trying to understand that JBII recognized costs just like other energy companies as they occurred instead of storing them in an inventory account. I much prefer that conspiracy theory myself. Way more fun."
10,000,000 gallons of fuel produced and stored at a production cost of 15 cents per gallon is a asset - no ? Don't all assets get listed on a 10K?
I would think that they have fuel assets listed somewhere?
The 10K also reports assets, and if the storage tanks were overflowing with fuel this would be a asset even without any sales ever taking place. This fuel has been independently verified/tested by a handful of companies - surely it has a value that can be determined by market rates.
No fuel listed as inventory and no fuel listed as a asset.
Things that make me go Hmmm.
It makes sense to me that they don't show any inventories as they are a going concern with customers taking the barrels as soon as they are pumped, and at the end of the Quarter or Fiscal year they show no inventory, because everthing pumped has all been sold.
But Saratoga isn't a start up like JBI with no customers yet for fuel, so one would think that anything produced but unsold at JBI - would show up as inventory. They have a huge tank farm and any fuel stored and unsold should be listed as inventory.
It certainly seems on topic to me. I would certainly hope that the Quarterly report coming up would show some inventories/sales.
What would you say if it didn't show any...expensed?
It's not adding up to me, tales of non stop production even prior to the DEC conditonary permit to operate, and yet no sales to date and no inventories as of 12/31.
Check the 10K no INVENTORY for P2O...period!
How is it that the company has been converting plastic to oil since Dec 10th and yet they don't have any diesel/fuel inventories at all disclosed in the 10K?
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7553044</b>
This is starting to look like a house of cards, and something smells fishy!
They can't sell what they don't have, so I wouldn't be holding my breath for any sales announcements just yet.
EP...I think you have the model for JBI pps,earnings etc, could you run it with the 80/20 with 20% revenues being paid for plastic/referals?
When was Baldwin hired?
CFO resigns, I hope there's no more restatements coming!
8K FILED
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7541916
==
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
Resignation of Chief Financial Officer
On April 6, 2011, JBI, Inc. (“JBI” or the “Company”) accepted Ron Baldwin’s resignation as Chief Financial Officer.
Item 8.01 Other Events
Any Ihub board members at the conference today? I wish I could have been there to hear and see the latest info and slides from his presentation. Any one know if the presentation will become available on the company website - today or soon?
I originally thought it applied to all electronic filings, after reading it further I believe your right - Art
If they file electronically it appears that they have until 10pm eastern time tonight to make the deadline, without needing a extension.
Hopefully, it will be filed before then - as I can't wait to read it!
SUMMARY: We are adopting rule and form amendments to mandate the electronic filing, and website posting by issuers with corporate websites, of beneficial ownership reports filed by officers, directors and principal security holders under Section 16(a) of the Securities Exchange Act of 1934, generally as required by Section 403 of the Sarbanes-Oxley Act of 2002. We have implemented changes to the EDGAR system in order to facilitate electronic filing. In addition, we are adopting rule changes to eliminate magnetic cartridges as a means of electronic filing. The rule and form amendments generally are adopted as proposed. However, we adopt additional rule amendments that permit Section 16 forms submitted by direct transmission on or before 10:00 p.m. Eastern time to be deemed filed on the same business day and make a temporary hardship exemption unavailable to these forms. The intended general effect of the proposals is to facilitate compliance with the will of Congress, as reflected in amended Section 16(a), and to facilitate the more efficient transmission, dissemination, analysis, storage and retrieval of insider ownership and transaction information in a manner that will benefit investors, filers and the Commission.
http://www.sec.gov/rules/final/33-8230.htm
Extension NT 10-K no later than one business day after the due date for such report. Then the company will have a 15 day extension to complete the 10-k and submit it.
Form NT 10-K is covered under Rule 12b25 of the Securities Exchange Act.
If all or any required portion of an annual or transition report on Form 10-K, 10-KSB, 20-F or 11-K , a quarterly or transition report on Form 10-Q or 10-QSB, or a distribution report on Form 10-D required to be filed pursuant to section 13 or 15(d) of the Act and rules thereunder, or if all or any required portion of a semi-annual, annual or transition report on Form N-CSR or Form N-SAR required to be filed pursuant to section 13 or 15(d) of the Act or section 30 of the Investment Company Act of 1940 and the rules thereunder, is not filed within the time period prescribed for such report, the registrant, no later than one business day after the due date for such report, shall file a Form 12b-25 with the Commission which shall contain disclosure of its inability to file the report timely and the reasons therefor in reasonable detail.
http://www.investopedia.com/terms/s/sec-form-nt-10k.asp
http://taft.law.uc.edu/CCL/34ActRls/rule12b-25.html
A filing with the Securities and Exchange Commission (SEC) that a company must submit when it is unable to file its 10-K, or similar form, on time. After submission of the SEC Form NT 10-K, the company must then file its 10-K within 15 days. The 10-K is an annual report that provides a comprehensive overview of the company's business activities. This report must be filed within 90 days of the end of the company's fiscal year.
Great article on worldwide gas prices.
Cities Worldwide with the Highest and Lowest Prices for Gasoline (March 2011)
Follow this link for the complete article. http://www.dailyfinance.com/story/gas-prices-world-high-low-country-pain-pump/19895547/
Don't the landfills control the waste plastic stream for unrecyclable plastics?
Isn't it also true that 100% of unrecyclable plastics that don't go to incinerators go to landfills?
If your looking for volume and a mass roll out, seems to me landfills that accept unrecyclable plastic in mass would be a great place for processors and a great place to start - as that is where a huge volume of raw materials needed can be had and it's delivered.
Seems to me that if he were to only concentrate on Industrial waste plastics, that he's leaving a lot of money on the table.
How many companies out there produce 20 or more tons of plastic waste per day each? I think the number would be rather small compared to the number of companies that produce less than, or a few tons of plastic waste per day.
At what point (how many tons needed) does it make sense and be profitable to install/run a P2O machine on a particular site?
There will be no mass roll out with individual companies producing 20 tons of plastic waste per day, this market is surely limited IMO. I'm not saying a waste of time - just limited.
The WM's may control the collecting space, however, According to the EPA they don't control the majority of landfills.
"The U.S. has 3,091 active landfills and over 10,000 old municipal landfills, according to the Environmental Protection Agency.
http://www.zerowasteamerica.org/landfills.htm
"WM operates 268 landfills. They deposit most of their collected trash into their own landfills, which keeps the profit margins high. WM charges fees for other trash collectors to deposit into their landfills. After a landfill is full they cover it with earth so it can be used for other purposes. WM also operates 5 hazardous waste landfills."
http://dividendmonk.com/waste-management-inc-wm-dividend-stock-analysis-2010/
So to answer your question WM is not the only ultimate partner,they are surely a huge potential one, but that leaves 2,823 other landfills. All landfills charge tipping fee's to the collectors, if they Partnered with JBI and then installed P2O machines on site - they can then possibly share in the extra revenue while saving space by not dumping the plastics, while collecting tipping fee's from the WM's.
Another great partner would be recycling centers, they must have tons of plastic that gets mixed in - that's not recyclable. That they then have to pay tipping fee's to get rid of, to who you may ask - drum roll please the "Landfills" so why go to them, let them go to the landfills in other words - come to you.
So IMO landfills would give JBI the best shot at a mass roll out and future control of the waste stream.
So my question is why go to individual companies, when they already go in mass to landfills?
Great news! Congrats to all of the longs on the first fuel sale!
Fair enough.
They might have to use such language if they are currently negotiating with Industrial plastic waste suppliers/potential partners to give them fuel at a discount in return for getting their plastic waste stream.
Would any discount on fuel given - have to be catorgorized as a plastic source cost?
There must be a reason for the language they are using other than the Catalyst cost, as I would think this could easily be seperated out and grouped into the over all processing costs, and they could then POUND the table that all plastics they convert to fuel is FREE.
FREE materials/feedstock makes a much powerful headline/statement than "in many instances we are provided plastic feedstock at no cost."
That doesn't fit with "In many instances we are provided plastic feedstock at no cost."
Doesn't need to be shredded?
I haven't seen the process myself, but from the pictures it looks like right now everything needs to be shredded to work on their conveyor type setup. From the pictures posted it appears that a height guide is built in to only allow a even amount of plastic in at a time, with everything on the belt being shredded.
Which leads me to question can they currently shred soft plastic bags effectively with the equipment that they have (that will work on this type of conveyor system), or are they only set-up to shred harder plastics.
On another note, I also thought I read somewhere that they are not using the ram feeder - as it doesn't allow a even heat temperture or something to that effect. What's the story with the ram feeder, did they abandon it for this conveyor type set-up?
Lastly, they shouldn't be disclosing "Very low raw material costs: In many instances we are provided plastic feedstock at no cost."
It implies they are paying for feedstock. If what your saying is true - they should dislcose that they only accept free feedstock and that thay don't pay for any of it, and that this Free feedstock has very low processing costs.
Thanks - Art
With all due respect..."It's Common Knowledge that JBII Raw Materials are either FREE, or have a Negative Cost"
That's not what is disclosed at:
http://www.plastic2oil.com/plastic2oil-business/competitive-edge.aspx
What they do say is:
"Very low raw material costs: In many instances we are provided plastic feedstock at no cost."
So according to their own language - it appears the feedstock does have a cost, and it remains to be seen what they consider to be "very low costs".
Also, the use of the word "many" makes it appear to be less than half the time the feedstock is at no cost. If they used the word "most" (most equals more than half) one could take that as meaning the majority of the time the feedstock is free.
So why would they choose to say "in many instances" and why would they ever pay for any of it?
I would love to see that language changed on their website to what you claim "FREE or Negative Cost" or even better yet - we're paid to take it.
What I don't like seeing or even understand - is that they are paying for any of it.
Respectfully - Art
Months ago I called my Etrade account rep after I had placed a bid for 2000 shares (this bid was not all or nothing), at the time of my bid it was also the highest and best bid. Minutes later someone decided to sell and take the higest bid and I watched the trade go through L2 and wondered why my bid was never filled and wondered why.
I day trade with Etrader Pro, so I called my Rep and he said that the Market Makers didn't have to report/honor any transaction under 2500 shares on the Market JBI traded under. Pissed and not used to the OTC market I decided to make all my bids in at least 2500 share blocks.
Then I watched it happen again this time at a much larger block. Pissed again I called my Rep and I was then told they don't even have to honor the highest bid which was mine no matter how large the block. The only obigation they have is if I place a order to buy at the ask.
Great points, and is exactly why I said the collectors control the market in one of my previous posts.
Hopefully, JB's catalyst is so unique and efficient that there will be no future competition thus squarely taking control away from the collectors.
Absolutely, I never understood taking it for free when others pay to dump it. I say charge them half there current costs to dump...win win.
Right now the ball is in Jb's court to charge, until and when it becomes a commodity.
Free is key, once the waste is turned into a commodity it may not always be free. Eventually, there will be competition in this space fighting for the same commodity - thus raising the demand and costs.
WM won't be happy at that time to give it away for free, if there are competitve bids for that commodity. The collectors have future control in this space.
You misunderstood, I didn't say they were thin, only they would be if they had to pay for feedstock at like 400-600 per ton.
With free unlimited feedstock it looks like the profit margins should be healthy if everthing that has been reported is correct.
"I disagree, the profit margins would be thin or non existent if Jb had to pay for the feedstock."
In Rhode Island where I live we have two recycle bins, one for paper, and one that mixes plastics and metal cans. So yes, to sort if PET is more profitable to sort out and then sell seperately, and also sort other recyclables like in R.I.
I wonder how many other States mix plastics and metals in the same bins, like R.I.?
I disagree, the profit margins would be thin or non existent if Jb had to pay for the feedstock. However, if he can successfully get free, unlimited and sorted feedstock from industrial sources,WM and his recycling center - it appears to be a no brainer, if everything reported is true .
If other companies can run recycling centers at just break even while paying hauling/sorting/discarding for unrecyclable plastic waste, then it seems totally plausible that JB can run his recycling center at possibly a profit as he will not have any fees for the disposal of the unrecyclable plastics collected. This is a clear advantage over the competition in that same space, all the while turning that unrecyclable waste into a much needed commodity.
Brigg's report to the board that there were mountains of free industrial, sorted plastics leads me to believe that this process may have legs and combine that with any Government subsidies this could be a real winner!
However, the conservative side of me can't wait to see the total or average cost involved in this complete process, and is the only thing missing for me to go All In, at this time.
There's no doubt in my mind that Collins can refine JB's fuel into the ASTM standards. The real question lies is - at what cost?
Out of one side of your mouth you say:
"IT IS VERY SURPRISING/SHOCKING THAT JBII'S CEO WOULD USE IHUB POSTERS IN ORDER TO RELEASE INFORMATION TO ITS INVESTORS"
Then out of the other side you ask:
"by "commercially" you surely mean they are engaged in commerce.... with who?"
Why are you asking for Material information?
Respectfully - Art
When Oil cracks $100.00 PB logic says JBII WILL crack 2.00 and rising. Holding long and strong.
You might have to wait awhile, Oil futures "cracked" below it's fifty day moving average today and will likely hit 84 per barrel in the next few days.