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Is the seller back? Or is bad news coming?
Kevin Rauber's employment agreement shows insurance coverage in St. Louis. I think you may have nailed it.
2.4 Employee Benefits. In addition to the compensation specified above, the Employee shall be entitled to the benefits generally made available by the Company to management employees, including but not limited to health insurance and dental insurance, subject to the terms, conditions, and limitations governing those programs. Employee’s health and dental insurances will allow for coverage in St. Louis, MO. If the Company does not have a national health and dental plan in place at the Effective Date, the Company will reimburse the Employee for costs of COBRA. In addition, Employee shall be provided with a computer and cell phone at company expense.
http://www.sec.gov/Archives/edgar/data/1381105/000121390012002764/f8k051512ex10iii_jbi.htm
Ego baby..........it's da ego. JMHO.
Big dilution announced today. 15,080,429 shares added to the OS since Friday.
Pipe:
14,178,750 Shares at a purchase price of $e0.80 per Share.
So who got the rest of the shares? Were they freebies given out as gifts? "Services rendered"?
Oil prices are down. And this is "synthetic fuel". Do you have current prices on "synthetic fuel"?
Employee gifts?
WOW 12 trades today. LOL
15,080,429 shares added to the OS since Friday. Float unchanged.
June 13, 2012:
OS: 88,883,567
Restricted: 42,784,544
(Float: 46,099,023)
June 8, 2012:
OS: 73,803,138
Restricted: 27,704,115
(Float: 46,099,023)
June 6, 2012:
OS: 73,803,138
Restricted: 27,704,115
(Float: 46,099,023)
June 4, 2012:
OS: 73,803,138
Restricted: 27,910,760
(Float: 45,892,378)
May 23, 2012:
OS: 73,177,216
Restricted: 27,563,884
(Float: 45,613,332)
JBI's process converts plastic back into virgin feedstock and produces either an in-spec fuel or the original monomer.
Post industrial plastic would be sorted ie: gas tanks, ag film, etc. Once received, it's shredded and transported at great expense. After that it's unknown as there has been very little revenue.
What's up? Only 28 trades and one of the lowest volume days ever.
No - that wasn't naptha and US Steel is not in the Fortune 100.
Are there any form 3's to back up this assertion? Any PR's or anything from JBI? How much did he invest and when?
Or not. JBI's transparency is lacking.
Major media coverage of the SEC hearings?
PR on delays about #3 and how it affected #1 & #2?
PR on delays with RKT, JBI is a year into the agreement and no word.
SEC escalating the charges.
New CEO would be smart to keep quiet
Item 4. Purpose of Transaction.
Between May 15, 2012 and May 30, 2012, the Issuer entered into Subscription Agreements (the “Purchase Agreements”) with several “accredited investors,” including the Reporting Persons (collectively, the “Purchasers”) in connection with a private placement of shares (the “Shares”) of Common Stock. Pursuant to the Purchase Agreements, the Issuer sold to the Purchasers an aggregate of 14,178,750 Shares at a purchase price of $0.80 per Share for aggregate gross proceeds to the Issuer of $11.3 million. The Reporting Persons purchased 12,610,000 of the 14,178,750 Shares at an aggregate purchase price of $10,088,000. As a condition to the closing of the transactions contemplated by the Purchase Agreements, the Purchasers required John W. Bordynuik to enter into a letter agreement, dated as of May 15, 2012 (“Letter Agreement”), pursuant to which Mr. Bordynuik made certain agreements regarding the voting of his shares of Common Stock and his one million shares of the Issuer’s Series A super majority voting preferred stock, $0.01 par value per share (the “Series A Preferred”). Mr. Bordynuik is the current Chief of Technology of the Issuer and the former President and Chief Executive Officer of the Issuer.
Was the writer deliberately trying to obfuscate?
The adjective, "patented", describes the noun, "technology". The pronoun, "JBI's", ascribes ownership of the "patented technology".
The USPTO frowns on people making false claims.
Has the report been made public?
Technically, it says "JBI's patented technology". No getting around that. "JBI's" The apostrophe is the determining factor.
I missed the link showing the 'whales' engaged SAIC. Did JBI pay for that? How much? I've heard SAIC is kind of expensive.
The whales demanded an anti-risk measure of having NYSE: SAI conduct an audit of JBII's colaims.
Letter of Intent for 144,000 Gallons/Week
The company has signed a letter of intent with a confidential party for the purchase of 144,000 gallons of naphtha per week.
Naptha is produced from the Company's Plastic2Oil process and is the technical term for gasoline without the additives that pump gas has.
WOW!!! How are the Naptha sales going? Who's the customer? When did this get signed?
What will the new ticker be when JBII changes to P2O?
Is this another flawed statement? In my opinion based on JBI news releases and a search of the US and International Patent websites, JBI does not hold a patent on this technology. There are a lot of patents on this technology but neither JBI nor John Bordynuik hold such a patent in my opinion. If anyone can find such a patent, please post a link. Thank you.
It is my opinion based on JBI PR's, JBI filings and the JBI website that:
1) John Bordynuik is no longer the CEO.
2) JBI is not producing several thousands of barrels a day. If they are making a $90.00 profit on thousands of barrels a day, where is the money?
The blog that was quoted, in my opinion, is flawed. If there is proof to the contrary, I'd be happy to take it under advisement.
That is your story(opinion)tell it the way you want, I have my own opinion, and is completely contrary to your response to my post.
1) JB is no longer CEO
2) If JBI was producing thousands of barrels a day the wouldn't have needed the financing. According to this revenues are running a couple of HUNDRED THOUSAND dollars a day. If so, there's a bigger problem than SEC fraud.
If all JBI forecasts have been wrong up to this point, why do you think that will change? "wolf, wolf"
I also believe it will be finished alot sooner than most of the opinions I have seen. This is all my opinion and I have basicly been wrong with all my Jbi forecasts up to this point but believe that will change.
2nd quarter is almost done. Any guesses on revenue?
The lack of news and the volume of pipe shares, shares for 'services rendered', shares of former employees off restriction almost guarantees available shares and holders tired of the misinformation and lack of information will be selling.
No word from the new CEO Kevin Robber. Nothing regarding the AGM. NOTHING for the flippin' shareholders! Who cares about any 'whales' if the company isn't talking or producing. The company is diluting with discounted shares. Spending exorbitant amounts of money without explanation (although the recent trade show at Lake George explains some of it).
The la-Te-da attitude of common shareholders is why people get ripped off. Oh, I know, "It's green", "It's so good". Wishful thinking isn't going to save your hard earned cash.
The thinking was if John Bordynuik stepped down to a tech position. JBI got a new CEO. Things would be SOOO much better. Stock is down. Volume is up. No word from the company. Umm....
The Day the SEC hit them with Fraud charges?
It was trading at $7.25 before that.
Why's this processor on a truck? Did it get repo'd?
When is the AGM?
Or not. JBI's transparency is lacking.
Major media coverage of the SEC hearings?
PR on delays about #3 and how it affected #1 & #2?
PR on delays with RKT, JBI is a year into the agreement and no word.
SEC escalating the charges.
New CEO would be smart to keep quiet.
Guess it's how you look at it. I see a down stock and the chart looks horrible.
No change to SWP. Still unchanged.
Old news. 5/9.
Is that why an employee shareholder filed a shareholder derivative lawsuit?
How many different processor designs do they have? Do any of them include the once ballyhooed 30 Ton unit? It's not clear in the PR or on the company website.
The PR didn't say SAIC was 'engaged' to review the RockTenn unit and neither does the website.
It says THE processor was reviewed and THE processor is 'poised' for RockTenn.
The PR is perfectly clear.
So you agree? The processor that is operating is poised to go to RockTenn?
This was the entire sentence I was quoting:
SAIC was present at the Company’s Plastic2Oil facility in Niagara Falls, NY over a 3-day period, April 25-27, 2012. The role of SAIC was to review the principal aspects of the Company’s P2O process, including the basic engineering design, results from testing and operations at the Niagara Falls facility, and the commercial P2O processor, which is poised for roll-out at the first RockTenn site.
Now that you have pointed out that other sentence, looks like the whole PR was the normal JBI speak.
http://www.plastic2oil.com/site/news-releases-master/2012/05/15/jbi-inc-announces-10-million-financing-successful-independent-engineering-review-of-p2o-technology-by-saic-and-management-and-governance-changes
Can you list the multiple customers that have spent over 10K on processor output?
How much of the 6 figure P2O division revenue was cardboard? Processor output?
Any word on the DEC permit modification?
Why did the recent PR talk about THE processor? Does JBI only have one they can operate for these show & tell situations?
Patents? Any news on any patents? Ever find the patent number for the data patent listed in an SEC filing?
PR said RockTenn. Is the PR to be believed?
the commercial P2O processor, which is poised for roll-out at the first RockTenn site.
SAIC was present at the Company’s Plastic2Oil facility in Niagara Falls, NY over a 3-day period, April 25-27, 2012. The role of SAIC was to review the principal aspects of the Company’s P2O process, including the basic engineering design, results from testing and operations at the Niagara Falls facility, and the commercial P2O processor, which is poised for roll-out at the first RockTenn site.
http://www.plastic2oil.com/site/news-releases-master/2012/05/15/jbi-inc-announces-10-million-financing-successful-independent-engineering-review-of-p2o-technology-by-saic-and-management-and-governance-changes
$80.00/barrel. Oil prices are down. RKT gets paid based on current oil prices.
SEC, OSC? Lawsuits?