Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
JBII 38% dilution YOY!
19,606,248 new shares have been issued by JBII in the past 12 months yet so far only 4,755,112 have had their restrictions removed.
What will happen to the PPS when the remaining 76% of 2011's dilutive shares become free-trading?
75,000 new shares issued since last Tuesday - 62,481 of which apparently became free-trading immediately.
That's 2,419,347 this quarter so far.
November 29, 2011:
OS: 70,848,174
Restricted: 34,228,130
(Float: 36,620,044)
November 22, 2011:
OS: 70,773,174
Restricted: 34,215,611
(Float: 36,557,563)
November 18, 2011:
OS: 70,773,174
Restricted: 34,537,911
(Float: 36,235,263)
November 15, 2011:
OS: 70,773,174
Restricted: 34,914,697
(Float: 35,858,477)
November 14, 2011:
OS: 69,374,602
Restricted: 33,516,125
(Float: 35,858,477)
November 8, 2011:
OS: 68,716,619
Restricted: 32,889,877
(Float: 35,826,742)
October 28, 2011:
OS: 68,691,329
Restricted: 32,864,587
(Float: 35,826,742)
October 25, 2011:
OS: 68,691,329
Restricted: 32,864,587
(Float: 35,826,742)
October 20, 2011:
OS: 68,691,329
Restricted: 32,884,587
(Float: 35,806,742)
October 18, 2011:
OS: 68,667,320
Restricted: 32,885,578
(Float: 35,781,742)
October 11, 2011:
OS: 68,667,320
Restricted: 32,891,828
(Float: 35,775,492)
October 4, 2011:
OS: 68,448,271
Restricted: 32,822,779
(Float: 35,625,492)
September 27, 2011:
OS: 68,428,827
Restricted: 32,813,335
(Float: 35,615,492)
2 more PIPE's though....
That was the 9 month number.
http://www.sec.gov/Archives/edgar/data/1381105/000121390011006335/f10q0911_jbi.htm
Page 27
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.
Missed marks and unproven marks. They've had a year to get another processor operating per the permit. As to the rest of your marks - the proof is in the pudding and the pudding ain't gelling.
Total
Compensation
John Bordynuik,
President & CEO
2010
6,923
(1) Salary for two weeks in 2010, pursuant to John Bordynuik’s employment agreement.
(WORKS OUT TO 180,000)
Ron Baldwin, CFO(3)
2010
144,000
Jacob Smith, COO
2010
655,000
(2) 100,000 shares were issued to Jacob Smith on January 11, 2010. The closing share price on January 11, 2010 was $5.55.
Can you tell me what the executive compensation has been?
Do you have an accounting for the other $27M?
Wow a patent for an economically viable plastic to oil unit.
From China? Why hire fabricators in Niagara?
Really? Add it up again. It's off.
Still doesn't explain why NO inventory if they claim thousands of gas tanks and bales of plastic.
Must be the same place as the mysterious tankers that were lining up and coming and going every day.
Based on the revenue they've sold what 50 barrels?
Hey how's that YOY looking?
Anybody notice the balance sheet doesn't balance?? It's a BALANCE SHEET. NICE AUDITING.
Assets
7,818,553
Liabilities & Equity (do your own math)
7,818,490
Um - that's Javaco's inventory number in the 10Q.
Sought an exemption. Doesn't say it's been granted. They've applied for it. How long does that take? A year? Several months? No way to know as we don't know the state.
Page 24:
Due to the ultra-low emissions from the Company’s P2O processor, the Company sought a permit exemption. During September 2011, the Company proposed and submitted an application for exemption and met with several of the State’s environmental engineers
But no air permit.
No inventory was listed on the 10Q.
I was referring to the the 10Q. It states the company HAS ALREADY recycled THOUSANDS of gas tanks and bales of plastic. Where is it and/or where is the revenue?
Where are they storing all of these thousands of recycled gas tanks and bales of plastic?
or 3 months or 3 years. You have no way of knowing where the next wrench will come from.
Processors 2 and 3 are almost complete... just waiting on the kilns.. it is in the 10q... We could be within weeks of 3 processors running and new contracts.
Were is the revenue from recycling thousands of gas tanks, bales of plastic film and many other free plastics that are usually sent to landfill.?
Page 27
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.
Free Plastic (page 25)
The Company receives free waste plastic for our Plastic2Oil processor(s) from Chrysler, General Motors, major food packagers, dairy companies, agricultural plastics, and many other sources. The company is recycling thousands of gas tanks, bales of plastic film and many other free plastics that are usually sent to landfill. The Company does not pay for any plastic. None of the plastic that the Company has received to date at the P2O factory has required sorting. The Company continues to receive large supplies of plastic feedstock at both its Niagara Falls, NY and Thorold, Ontario facilities, and retains a significant backlog of feedstock. The Company anticipates continuous processing of this supply upon completion of the second stack test and assembly of processors #2 and #3.
So they were expecting or anticipating that would be the case? Odd how the 10Q uses a lot of the same 'forward' terminology. Of course they weren't lying, just dreaming of what might occur.
Great - waiting for more permits in other states (note word: "Seeking"). I remember reading here that NY was the toughest state and JBI wouldn't have to seek permits in other states because their suppliers had permits.
Another PIPE. And they are giving away the shareholder equity by the millions. They will soon run out of authorized shares - what will they do then?
Forward thinking or wishful thinking?
The Company expects to finalize fuel supply agreements as soon as anticipated fuel demand from prospective customers can reasonably be met.
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7919650
Page 3 of the 10Q
Words such as “expect”, “anticipate”, “intend”, “attempt”, “may”, “will”, “plan”, “believe”, “seek”, “estimate”, and variations of such words and similar expressions are intended to identify such forward looking information. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict.
GROSS PROFIT MARGIN. With G&A running as high as it is, NET MARGIN will be much lower.
So it's not continuously processing now? It's been posted many times that it was processing 24/7. And they need another stack test?
Words such as “expect”, “anticipate”, “intend”, “attempt”, “may”, “will”, “plan”, “believe”, “seek”, “estimate”, and variations of such words and similar expressions are intended to identify such forward looking information. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict.
Date of First Sale 2011-05-17
http://www.sec.gov/Archives/edgar/data/1381105/000121390011003156/xslFormDX01/primary_doc.xml
Maybe some shares came off restriction.
Regardless of whether securities in the offering have been or may be sold to persons who do not qualify as accredited investors, enter the total number of investors who already have invested in the offering: 34
Shareholders
Shareholders of Record 2,000
http://www.otcmarkets.com/stock/JBII/company-info
Revenue - Last chance to guess.
Do pinks get "E"'s? JBI had and E added to their system on the OTCBB. When they moved to the QX, did that change? Does QX issue "E"'s?
So there should be inventory listed on the 10Q when it comes out. Did the tankers move at all?
Filing Deadline Calculator
Form Type: Filer Type: Period End:
10Q Non-Accelerated Filer 30 SEP 2011
Due: Monday, November 14, 2011
http://www.secfile.net/SEC_calendar.htm
NT(12b-25) due by 5:30 Tuesday, November 15, 2011
* If a filing due date falls on a weekend or SEC holiday, the filing is due on the following business day.
* The EDGAR system hours of operation for submitting files are 6:00 a.m. to 10:00 p.m. Eastern Time, weekdays, excluding Federal Holidays. Files submitted after 5:30 p.m. Eastern (with the exception of Section 16 filings) will receive the next business day's filing date.
* Companies may request a filing extension for their Form 10-Q's and 10-K's by submitting Form 12b-25 via the EDGAR system. By filing this form, a filer may gain up to 5 additional days to file Form 10-Q or 15 days to file Form 10-K. Companies have up to 24 hours after the original filing deadline to file Form 12b-25.
or maybe he meant each mill generates 30-40 pounds of ragger & plastic per ton. And it's not all plastic. It's wire, It's paper bits, It's trash.
A reply from RockTenn...
Quote:RockTenn paper mills recycle approximately 3.5 million tons of recovered paper per year, mostly old corrugated containers (OCC). OCC contains varying amounts of polyethylene, polypropylene, polystyrene and other plastics due to laminations, inserts and tape used in the boxes. Our recycling processes generally separate large pieces of plastic and metal wires from the re-pulping operation using a “ragger tail”. The ragger tail is only cut in 10- to 20-feet lengths before disposal. The rest of the plastic is generally removed in pulper de-trashing and coarse screening. The rejects from the latter two operations are mostly clean plastic that is dewatered before disposal. Typically our mills generate 30 to 40 dry pounds each of ragger tail and miscellaneous plastic rejects per ton of OCC recycled. Currently some of our mills dispose these materials through third parties, while others have on-site monofills. Trial loads of ragger tail have been processed at the JBI Plastic-2-Oil facility in Niagara Falls.
I hope this description helps.
Regards,
John Stakel
Your math is incorrect.
3.5 million tons of recovered paper per year
our mills generate 30 to 40 dry pounds each of ragger tail and miscellaneous plastic. Split the difference that's 70 pounds per ton.
70 lbs x 3,500,000 tons = 245,000,000 lbs = 122,500 tons
I rest my case.
1.3 million dollars is a lot to hit the bottom line.
$1,293,939.75.
My math based on the 3.5 million tons of recycling is 14000 tons per year.
3,500,000 tons of paper recycling per RockTenn
2,000 x lbs in a ton
7,000,000,000 lbs of paper recycling
40 lbs of dry ragger & rejects per ton = 2%
70,000 tons of ragger & rejects
2,000 x lbs in a ton
140,000,000 lbs of ragger & rejects
20% amount of plastic in ragger
28,000,000 lbs of plastic
or 14,000 tons.
He wasn't even hired when she was fired.
http://www.sec.gov/Archives/edgar/data/1381105/000121390010000110/f8k011110_jbi.htm
On January 11, 2010, the Board of Directors of JBI, Inc., (the “Company”) appointed Dr. Jacob Smith as the Company’s Chief Operating Officer.
Dr. Jacob Smith, age 54, Dr. Smith for the previous three years has served as an instructor in Business, Biology, and Healthcare at Davenport University, Livonia, Michigan, conducting courses in Management, Microeconomics, Macroeconomics, Healthcare, Biology, Anatomy, and Physiology. From 2000-2006 he served as a Medical/Surgical Resident. He obtained and managed $8 million of federal funds while prioritizing HIV/AIDS care services and developing a comprehensive strategic long- range plan for Southeastern Michigan HIV/AIDS Council. During this time, he also managed and conducted clinical trial research.
Dr. Smith received a Master's Degree from the University Of Chicago and Doctor-Medical from Michigan State University in 2002. He obtained Certificates from Cambridge University in 2006 and the National Institute of Health/FDA in 2007. Business Certificates were received from Oxford University in 2007 and Harvard University in 2009. Dr. Smith then received an MBA from Ashford University in 2009.