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Thanks for that, good read.
GLTA.
A.H
42000 on bid at 1.42, looks great.
GLTA.
A.H
Well they were mentioned in the pipe, and also when they bought Javaco and the media credits, which were put out in a PR.
GLTA.
A.H
Snow.
He actually did two private placements, first one for $6.4 mil at $0.80 per share was started in Sep 2009, before the media credits was even listed on their quarterly report, granted they were mentioned in the prospectus, however there was also a big fat disclaimer in that prospectus, stating that the share price in the PP was purely arbitrary and not related to any company assets.
The second pipe was started in April 2010, in this one they raised approx $2 mil at $4 per share, and you are right that the media credits here represented less than 5% of the market cap at that point between Jan 2010 until end of April 2010, I haven't seen that prospectus, however I am pretty sure they had the same disclaimer in there as well.
I still cannot get my head around how the SEC could ever take this issue as far as they have, from where I am sitting, then this whole case is so thin, that IMO it is a complete waste of US tax payers money.
GLTA.
A.H
Very true, and in todays money, that $50 mil is probably more like $125 mil, it is quite some years ago that Dyson launched their first hoover. JBII on the other has designed and buildt two of these amazing machines using most of his own shares, with very little dilution to common shareholders, just amazing.
GLTA.
A.H
Well actually most of that is JB's money, remember he gave back 35 mil shares to the company, which have been sold along the way to raise money. JBII has had very little dilution from inception to now, I for one feels very excited about the way that John has financed most of the RD phase, he is IMO a very shareholder friendly CEO.
GLTA.
A.H
And also take into concideration that the RD phase is now over (assuming 2 and 3 are finished) this should also lower their cash burn rate. Very excited about tonights CC. Go JBII
GLTA.
A.H
What do you mean no info was given out, I recall a lot of new info was given, and it was actually a very good call.
GLTA.
A.H
So about 15 days before the stack test, thanks.
GLTA.
A.H
Do you have a link please.
GLTA.
A.H
Well we know it was finished in early Dec, when the stack test was carried out.
GLTA.
A.H
Even Smurfit Stone, which is now Rock Tenn.
GLTA.
A.H
Yeah just crazy, however now that I am heavily invested in JBII, I don't seem to mind so much any more LOL.
GLTA.
A.H
About $2.10 a litre here in the UK, so stop moaning LOL, $2.25 per litre of diesel.
GLTA.
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Couldn't have said it better myself.
GLTA.
A.H
Davinci, Thanks great post! plenty of room for many P2O companies, however JBII has the best solution and is moving very very fast, this year will be the year when the market will finally take notice, just can't wait.
GLTA.
A.H
LV.
Thanks, great article, good to see that articles keeps popping up, wont be long now before the rest of the world finds out.
Love this bit, and fully agree with it.
(P2O), a process that might turn out to be the most important technological development in recent memory.
GLTA.
A.H
Well I guess it is quite lucky that they had this disclaimer in the PIPE prospectus.
THE OFFERING PRICE OF OUR SECURITIES HAS BEEN DETERMINED
ARBITRARILY. THE PRICE OF THE SECURITIES BEARS NO RELATIONSHIP TO THE ASSETS, EARNINGS OR BOOK VALUE OF JBI, INC., OR TO POTENTIAL ASSETS, EARNINGS, OR BOOK VALUE OF THE COMPANY. SUCH PRICES SHOULD NOT BE CONSIDERED ACCURATE INDICATORS OF FUTURE QUOTED OR TRADING PRICES THAT MAY SUBSEQUENTLY EXIST.
Can't really see how they could have bought the shares in the PIPE, based on the media credits with a disclaimer like that.
GLTA.
A.H
I bet Martin Healey wish he never took it this far, can't wait to see the further development in this case.
GLTA.
A.H
Glad to see that they are already postponing as much as possible, get as many processors up and running, whilst this silly case goes on. Just postponing!
GLTA.
A.H
Maybe a revised version will appear tomorrow.
GLTA.
A.H
LOL, good Sunday laugh, I wish I had your problem.
GLTA.
A.H
As I am from Denmark, I would like to say thanks for this amazing operation by the US Navy seals, as they rescued a Danish person in the process, otherwise he would probably have been f....d
GLTA.
A.H
I disagree as well with your statement.
"After looking at the complaint, I think that the SEC is likely to prevail. Bordynuik and Baldwin are accused of not only pumping the books but of then doing a large private placement based upon those numbers. Then, once the private placement was complete, the company announced the overstatement and adjusted the assets back to the appropriate level. I don’t think this is something that can be effectively defended.
Well maybe this disclaimer in the PIPE prospectus from Oct 2009 will help defend that.
"THE OFFERING PRICE OF OUR SECURITIES HAS BEEN DETERMINED
ARBITRARILY. THE PRICE OF THE SECURITIES BEARS NO RELATIONSHIP TO THE ASSETS, EARNINGS OR BOOK VALUE OF JBI, INC., OR TO POTENTIAL ASSETS, EARNINGS, OR BOOK VALUE OF THE COMPANY. SUCH PRICES SHOULD NOT BE CONSIDERED ACCURATE INDICATORS OF FUTURE QUOTED OR TRADING PRICES THAT MAY SUBSEQUENTLY EXIST"
GLTA.
A.H
That is exactly they way I look at this company, an oil company with an upfront cost of less then an million per well (P2O processor) and never ending production as long as plastic is available, wow what an investment, I have been telling that to everybody I know as well.
GLTA.
A.H
Well maybe this disclaimer in the PIPE prospectus from Oct 2009 will.
"THE OFFERING PRICE OF OUR SECURITIES HAS BEEN DETERMINED
ARBITRARILY. THE PRICE OF THE SECURITIES BEARS NO RELATIONSHIP TO THE ASSETS, EARNINGS OR BOOK VALUE OF JBI, INC., OR TO POTENTIAL ASSETS, EARNINGS, OR BOOK VALUE OF THE COMPANY. SUCH PRICES SHOULD NOT BE CONSIDERED ACCURATE INDICATORS OF FUTURE QUOTED OR TRADING PRICES THAT MAY SUBSEQUENTLY EXIST"
So whoever bought shares in this offering, was informed upfront that the share price was not based on the asstes of the company.
GLTA.
A.H
Well they also show them as prepaid expenses in this amended report on page 20, they have actually called them something different in all the reports that DoMark filed or amended, whilst these media credits were theirs
http://www.sec.gov/Archives/edgar/data/1365160/000116552709000621/g3386.txt
GLTA.
A.H
I fully agree, I actually think that the companies will be queing up to sign with JBII, once they see how well this works out for Rock Tenn and the $millions RT will save in the process. This is a very long term hold for me and most of my friends and family as well.
GLTA.
A.H
Mbot
Actually the PR states several hundred processors which are at least 200, however that was when the processor was still seen as being able to process 20 ton a day, so min 100 processor at twice the capacity sounds about right.
http://www.plastic2oil.com/site/news-releases-master/2011/08/08/jbi-inc-announces-a-ten-year-agreement-for-commercially-viable-conversion-of-waste-plastic-to-fuel
GLTA.
A.H
Mbot, fully agree, and I am gobbling up as many shares as I can at these prices as well, quite happy about the war against the company at this stage, as I get many more shares on the cheap, it wont be for long though as I think the 1st quarter numbers will shoot this company to permanently higher prices.
GLTA.
A.H
Are the white rectangles in the pictures trailers with plastic? looks like one is on the road just outside the facility, if it is trailers, then they have plenty of plastic on site.
GLTA.
A.H
Commando. What pic are you referring to please.
GLTA.
A.H
Ok thanks.
GLTA.
A.H
Hi dreaminbig.
Thanks for that, however it doesn't state directly, that the shares were transferred back to JBII, just that they were transferred pursuant to the terms of an agreement with Judith Vazquez and JBI. Do you have any link that states the shares going to JBI.
TIA
A.H
Yes you are right, already deleted LOL.
GLTA.
A.H
Fourkids, why do you think Kidd is behind this, he got 3,5 mil shares for Javaco and the media credits, so surely he would be more interested in the company success rather then it's failure, just asking.
GLTA.
A.H
OK, OS was around 64 mil at inception, and around 71 mil now, for a 7 mil shares dilution, I think that that is remarkable, to get the company to this stage with so little dilution.
GLTA.
A.H
What was the OS when JB took over 310 holdings, and what is OS now, 2 Years and 8 Months later?
GLTA.
A.H
Thanks, I look at the bear raid in May 2010 as a true blessing, if they haven't run it into the ground like they did, then neither me, my family and friends would now be invested here, so I have no problems with the manipulation, gives me more shares for less in a truly outstanding and disruptive technology, which will make the shareholders tons of money over the next few years,
A gift from God.
GLTA.
A.H
Thanks, I know I went on a bit of a rant there, however easily done when talking about JBII, I know my friends and family are tired of listening to me going on about it, they have invested though, so goal accomplished.
Many more commas, LOL
GLTA.
A.H