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How is it irrelevant? Pakit is a JBI company and was a JBI company when the plaintiff was terminated.
The website clearly shows Pakit is a JBI company.
http://www.pakit.com/
JBII is currently an OTC pink. OCTQX. Used to be OTCBB. There was a lot of talk about uplisting. And pictures of John Bordynuik in NYC at the stock exchange. Stock price has something to do with it. Filing on time also figures into the equation.
The way JBII values inventory we'll never know. They might have had leftovers in the blending facility. Just bilgin' the old fuel.
That's kinda funny....so the machine that didn't work does work?....and made fuel....that got sold....and now the argument is how much it cost to make huh?......funny how things have changed a bit.....from doesn't work at all to costs too much to make fuel.....i'm thinking those calculations will circle the bowl with the rest of the made up bilge about JBI.....just bilgein'
$10 per barrel? Can you show me a link or where that has been stated publicly? Recently?
The cost per barrel has always been clearly stated as the cost for P2O process produced fuel.
That number still stands.
The cost of additional fuel to meet customer demand over the capacity of the current P2O processors will be at market prices with market margins.
That is not exactly a subtle distinction.
Decimal is in the wrong place. .2009 and .2010.
GROSS profit margin. GROSS.
The NET profit margin hasn't been shown. Not for even one measly barrel of plastic derived fuel or pile of cardboard. Hopefully the new CFO has studied up on accounting 101.
Just nettin'
Bad analogy. Raw gold from a mine doesn't go for 1600/ounce.
The premise has been $10bbl to get the eps numbers that have been promoted. The cost is no longer $10.
Thanks for the clarification. Are there standards set for retail fuel outlets as to the ratios?
OK. Had it backwards. So 20% purchased fuel and 80% other. Either way your basic cost per barrel just jumped over $30.00 before any G&A costs. Still has a major affect on the margins that have been touted here for over 2 years.
The website says "like B80". That's 80% purchased fuel and 20% other fuel. At 80% purchased fuel, that will greatly affect margins. PPB will not be $10.00.
http://www.plastic2oil.com/site/fuel-specs
Your hypothetical comparison of 99% regular fuel with 1% P2O does not add up to what is up on the company web site. They suggest P2O will be the majority of the mix.
check out NITE on the ask
Wonder if they'll have the same results for ragger tail derived #6?
JBI purchases fuel for resale. What are the margins now? PPS in a year?
What percentage of plastic derived fuel might be added to the mix for resale? Will it be like E85 and only allowable in certain modified vehicles?
DUBAI, Dec 29 (Reuters) - Abu Dhabi state investment vehicle Mubadala has sold its JBI Property Services unit to Serco (Other OTC: SECCF.PK - news) for an undisclosed amount, the British outsourcing firm said on Thursday.
Serco, which runs services from UK immigration centres and prisons to the Dubai metro, said the acquisition would add to its existing operations in the United Arab Emirates.
The company, which now generates 43 percent of group revenue from outside of the UK, said earlier this year that it is targeting international expansion.
Serco has won almost 2 billion pounds of work to date in the second half of the year and said that it expected to meet full-year expectations despite ongoing UK and U.S. austerity measures.
JBI (Other OTC: JBII.PK - news) specialises in integrated facilities management services and has over 130 staff members located at various sites in Abu Dhabi. The company, which was a wholly-owned unit of Mubadala, manages several Abu Dhabi properties including Paris Sorbonne University, New York University and Sowwah Square. (Writing by Praveen Menon; Editing by Amran Abocar)
http://uk.finance.yahoo.com/news/UPDATE-1-Abu-Dhabi-Mubadala-targetukfocus-1777474281.html?x=0
http://uk.finance.yahoo.com/q?s=JBII.PK
Paper revenue?
For the nine month period ended September 30, 2011, revenues of P20 include fuel sales from the conversion of waste plastic at the Niagara Falls, New York facility of $132,957 and revenue from the sale of processed waste product (primarily paper fibre) of $88,696. These sales in the three month period then ended amounted to$85,477 for fuel and $55,075 for processed waste product. There were no similar sales during the comparable periods ended September 30, 2010
http://www.sec.gov/Archives/edgar/data/1381105/000121390011006335/f10q0911_jbi.htm
Page 27
PERT has 51,500 on the ask at 2.55
Any updates on the Wells Notice?
Dear Mr. Bordynuik:
We have completed our review of your filings. We remind you that our comments or changes to disclosure in response to our comments do not foreclose the Commission from taking any action with respect to the company or the filings and the company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. We urge all persons who are responsible for the
accuracy and adequacy of the disclosure in the filings to be certain that the filings includes the information the Securities Exchange Act of 1934 and all applicable rules require.
Sincerely,
/s/ Martin James
Martin James
Senior Assistant Chief Accountant
http://www.sec.gov/Archives/edgar/data/1381105/000000000011046955/filename1.pdf
XTR sells to independent dealers. They don't own gas stations. Independent dealers can buy fuel from any company. JBI doesn't make on road gasoline. JBI can blend on road gas at their blending facility. They could add a single drop of something they call P2O and claim it was blended P2O fuel. Do some DD.
http://xtrenergy.ca/xtr-retail-branding.php
Thanks. I posted the EIA link earlier. Lot's of information there.
No Corporately Owned Facilities
XTR does NOT compete with its dealers by opening corporate facilities. Our network of over 130 gas stations is 100% dealer owned and operated. Our business is your business and XTR has developed a number of unique support programs to help you grow your volume and increase customer loyalty.
That article is almost 5 years old. A lot has changed since then. Have anything more recent?
Number 6 fuel oil is a high-viscosity residual oil requiring preheating to 220 - 260 °F (104 - 127 °C). Residual means the material remaining after the more valuable cuts of crude oil have boiled off. The residue may contain various undesirable impurities including 2 percent water and one-half percent mineral soil. This fuel may be known as residual fuel oil (RFO), by the Navy specification of Bunker C, or by the Pacific Specification of PS-400
Can you show me a link to gas stations that are buying JBI fuel? Revenues?
Didn't say that. MIGHT. as in: It might rain - it might not.
LOL. Look at the fuel the US exports - in millions of barrels. Why would the little bit of fuel JBI might contribute make any difference?
http://205.254.135.7/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WTTEXUS2&f=W
a little bit less we had to rely on foreign oil.
What grade of fuel/costing are you using for your earnings estimates?
You are correct based on past history. Contracts mean nothing.
So all those contracts mean nothing?
JBI, Inc. Executes Area Development Agreement (ADA) With AS PTO, LLC for 45 Sites in Florida
http://www.plastic2oil.com/site/news-releases-master/2010/02/12/jbi-inc-executes-area-development-agreement-ada-with-as-pto-llc-for-45-sites-in-florida
JBI, Inc.'s P20 Marine, Inc. & Rick Heddle's RWH Marine Consulting, Inc. Sign Principal Definitive Contract for a P2O Ship Development Agreement (SDA)
http://www.plastic2oil.com/site/news-releases-master/2010/02/12/jbi-incs-p20-marine-inc--rick-heddles-rwh-marine-consulting-inc-sign-principal-definitive-contract-for-a-p2o-ship-development-agreement-sda
AS PTO, LLC Enters Into JV/License Agreement With ES Resources, LLC for First P2O Processing Site in Florida
http://www.plastic2oil.com/site/news-releases-master/2010/02/12/as-pto-llc-enters-into-jvlicense-agreement-with-es-resources-llc-for-first-p2o-processing-site-in-florida
PR's mean nothing. I suggest you go back and read the PR's from 2010. http://www.plastic2oil.com/site/news-releases
Pump? Perhaps it would explain things if you went back and read the last 2 PR's.
Would the pump have been related to these Pipe's and issuances? All coming off restriction now?
On June 2011, the Company consummated a confidential private placement for the issuance and sale of 2,010,484 shares of common stock at a price of $0.70 per share. The Company received gross proceeds in the amount of $1,407,339, net of share issue costs of $Nil. The Company also had subscriptions for an additional 407,071 shares for proceeds of $284,950. The offering proceeds were used for working capital.
On June 15, 2011, the Company issued 205,307 shares of common stock to various parties at an expense of $164,040 as a compensation for prior services provided. The shares issued have been reported as operating expenses in the statement of operations.
In June 2011, the Company consummated a confidential private placement with certain accredited investors for the issuance and sale of 8,157,057 shares of common stock. The offering was at $0.70 per share and the Company had subscriptions for these shares which amounted to proceeds of $5,709,940. The Company received $5,688,406 of these proceeds with the balance of $21,534 recorded as subscription receivable at June 30, 2011. The offering proceeds were used for working capital.
On June 22, 2011, the Company issued 49,658 shares of common stock to various parties at an expense of $206,031 as a compensation for services provided. The shares issued have been valued at the closing share price on the respective issue dates and were reported as operating expenses in the statement of operations.
On June 12, 2011, the Company issued 210,000 shares of common stock to various parties valued at $178,500 as compensation for prior services provided. The shares issued have been reported as operating expenses in the statement of operations.
Maybe just some pipe holders getting out while they can. Or maybe a new pipe is coming online - always seems the price goes up right before a new pipe.
I did. This is all that comes up in the last 10Q.
http://www.sec.gov/Archives/edgar/data/1381105/000121390011006335/f10q0911_jbi.htm
On July 14, 2011, the Securities and Exchange Commission's (“SEC”) Division of Enforcement issued a "Wells Notice" to the Company indicating that the staff intended to recommend that the SEC file a civil lawsuit alleging that the Company violated certain provisions of the federal securities laws. Based on communications with the SEC`s Enforcement staff, the Company believes that the proposed lawsuit relates to the Company's restated financial statements for the third quarter of 2009, which were included in its Form 10-Q filed on November 16, 2009 and its financial statements for the year ended December 31, 2009, which were included in its 2009 Form 10-K filed on March 31, 2010. The restatement concerned the Company's valuation of media credits, accounting for certain acquisitions, and equity issuances. The Company believes that the staff may also recommend naming one or more current and former officers of the Company as defendants in the proposed lawsuit. Subsequent to receipt of the “Wells Notice”, there have been a number of announcements in respect of individual class action law suits against the Company that are pending and that have been lodged. The Company cannot predict the outcome of the dispute with the SEC or any separate class action litigation which may result, including whether a lawsuit will be filed or the terms of any settlement that may be reached. The Company has been given an opportunity to respond to the Wells Notice, and will decide on how to proceed based on consultation with its litigation counsel. The Company does not anticipate that the notice will negatively impact its business operations.
Can you show me where they are listed in the 10Q?
Of course they could sell those media credits......they bought them remember?........What....they all of a sudden vanished into thin air?.......lol.....And fwiw, they've been USING them...in case you didn't notice....z
Very deceptive IMO.
massive profit margins (83.6% last quarter).
This doesn't take into account any expenses. Sort of like a one sided balance sheet.
It would have been an asset on their books. You don't think they would have reported it if they had it? Would have increased the value of the company.
This "asset" isn't on JBI's books anymore. How can they sell an asset they don't have?
Seems to me that if you don't have to pay for something because you have a credit....well, that's value isn't it........Think of it as a Gift Card for Wally World........now is that an asset or not? And if you can sell something does that make it an asset? I say it is and yes respectively.......From the Book. Defining Value in the Modern World....Chapter 2.........
No. They would have had to report it as inventory.
Were the credits worth 10m when JBI bought them for a million shares?
http://www.sec.gov/Archives/edgar/data/1365160/000116552709000772/g3413a.txt
NOTE 6 - PREPAID ASSETS
In April 2007, the Company's then majority owned subsidiary SportsQuest, entered
into an agreement with Media4Equity, Inc. ("M4E") for media production and
placement. M4E produces and distributes nationally syndicated print and radio
features for its clients in exchange for equity in its clients' business. The
agreement stipulates that the sponsorship value of each aired radio feature and
each published print feature shall be equivalent to each respective radio
station's or newspaper's official ad rate policy, for a total value of $10M. In
consideration of M4E's performance, the Company shall transfer to M4E a number
of restricted shares of common stock, which shall have a market value of $3.3M.
If the market value of all stock transferred to M4E is below $3.3M, the Company
shall transfer to M4E a number of restricted common shares necessary for M4E's
stock position in the Company to have a value of $3.3M. The share valuation is
calculated as 90% of the closing prices of the Company's common stock for the
five trading days immediately preceding the initial transfer or any subsequent
valuation day. This agreement was terminated on August 15, 2008 and reassigned
on same date to Domark under a new agreement. At the time of reassignment, the
Company had not redeemed any credits for media advertising.
43
<PAGE>
The terms of the new agreement are as follows:
* In consideration of M4E's commitment of the Media Credit, the Company
shall transfer to M4E, within five business days of the Effective
Date, 2,640,000 restricted shares of Company's common stock
("Compensation Shares"), which are valued at $3.79 per share.
* The terms of this Agreement shall be effective as of the Effective
Date, and continue until the later of (i) one (1) year from the date
the Company first approves media for placement (which approval shall
not be unreasonably withheld); or (ii) four (4) years from the
Effective Date.
* Intrinsic Value of Compensation Shares. The Parties acknowledge and
agree: (i) the market value of Company shares, calculated using a
price quoted on the exchange on which such shares trade, may not
necessarily reflect a true and accurate valuation of the Shares; (ii)
the Media Value may bear no relationship to the current or future
value of the Compensation Shares.
On August 24, 2009, the Company assigned $9,997,134 of M4E media credits to 310
Holdings, Inc. in exchange for the issuance of 1,000,000 shares of 310 Holding's
common stock. As a result, the Company has impaired its asset to reflect only
the unused portion of advertisement as of May 31, 2009 and the value received
for the credits.
NOTE 7 - GOODWILL AND OTHER INTANGIBLE ASSETS - Adoption of Statement 142
As of May 31, 2009
Gross Carrying Accumulated
Amount Amortization
---------- ------------
Amortized intangible assets $ -- $ --
None -- --
---------- ----------
Total $ -- $ --
========== ==========
Unamortized intangible assets
Goodwill 2,746,900
----------
Total $2,746,900
==========
Media Credit Acquisition
On August 24, 2009, 310 Holdings, Inc.("310") and the Company closed a Securities Purchase Agreement whereby the 310 purchased 100% of the issued and outstanding common shares of Javaco in exchange for $150,000 and the issuance of 2,500,000 shares of 310's common stock to Domark. We also entered into a separate agreement and have assigned $9,997,134 of media credits in print and
radio to 310 Holdings in exchange for the issuance of 1,000,000 shares of 310 Holding's common stock.
http://www.sec.gov/Archives/edgar/data/1365160/000116552710000605/g4329.txt
Brings to mind AS PTO and Al Sousa
Will there be ANOTHER announcement today? or are we done with the "exciting" news?