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You've asked multiple questions:
Estimated revenues Q3?
How much fuel did they sell?
Did they sell more to Coco?
How much cash will they have?
Can JBI land additional long term fuel contracts?
Cut the cash burn rate down significantly?
Secure more advantageous financing?
Are they selling anything?
How many barrels is the first processor producing/week?
Are they still working on the pre-melt system?
Q3 P2O Revenue Estimates
Please respond to this post if you would like to throw out an estimate. I'm just curious what longs are expecting. For clarity, the estimate should be for fuel sales, not the MRF additions.
I don't know if the first processor can't produce 500+ barrels a week, or if they can't sell it all. We know they were and maybe still are working on the pre-melt system, and that will cause production to not meet the full capacity.
My very lazy and loose estimate of what one processor is suppose to produce(based on claims), is around $600,000/quarter(pretax). My hope/prediction, based on another loose and lazy estimate of what the Coco deal brings, is around $200,000. That would be a nice number to hit, and would be even nicer if they exceed it. That would show JBI meeting around 1/3 of their claimed capacity, even while making changes. I think downtime and tinkering will be a fact of life for each processor, especially in the beginning. So, I don't expect it to reach 100% capacity overnight, but hope that each additional processor reaches that point quicker with each install. It's tough to judge, because maybe processor 1 will always be a testing machine, and maybe each additional processor will quickly reach capacity. Whatever it is, it looks like it may be a slow process of the market getting confirmation on exactly what the capacity of the processor is. Looking forward to the next quarterly. How much fuel did they sell, and how much cash will they have? Can JBI land additional long term fuel contracts to cut the cash burn rate down significantly and secure more advantageous financing? The stock will probably remain very volatile and lack strong/aggressive accumulation(that pushes us strongly into the $2's) while we wait for answers to these pertinent questions.
Perhaps the 39 attendees aren't in a position to join the next PIPE?
Not really. P20 takes plastic and melts it into a type of fuel. Then that fuel is burned. Burning fuel is not green.
Estimated 2016 costs of new service and only in terms of net AC power available to the grid? These numbers refer to large power plants. I don't see anything about plastic 2 oil.
The SWANA show had over 200 exhibitors and thousands of attendees. Compare that to the 39 from last weeks 'event' JB spoke to.
I didn't say one was more valid than another. Much larger venues, many more contacts would seem to be a good thing. In my opinion of course. Perhaps JB isn't ready for these large events.
Agilyx was a speaker. And Enerkem.
http://www.wastecon.org/wct.cfm
Here is a list of exhibitors already signed up for next year!
http://swana.org/extra/web/shows/12swana/start.html
Would have been a good forum for JB.
http://swana.org/portals/Wastecon/2011/SWANA_WASTECON_Press_Release_8_17.pdf
From 2009. Do you have anything more recent?
http://www.epa.gov/osw/conserve/materials/plastics.htm
The recycling rate for different types of plastic varies greatly, resulting in an overall plastics recycling rate of only 7 percent, or 2.1 million tons in 2009. However, the recycling rate for some plastics is much higher, for example in 2009, 28 percent of PET bottles and jars and 29 percent of HDPE bottles were recycled.
Was JBI an exhibitor at the trade show listed in the article?
JBI is included in that number. Did you read the article? Are you saying they aren't economically viable?
And I found this interesting. Speaks to your 93%. Looks like that number may need to be revised.
Al Lynch of the solid waste department in North Vancouver, British Columbia, says his district has reached a 60 percent diversion goal, and he would not be surprised if that rate goes even higher with the advent of extended producer responsibility (EPR) laws in Canada. EPR laws in Canada often impose municipal recycling and collection costs onto consumer products and packaging companies. "The goal of EPR is so the products will be designed better [for recycling] by producers," Lynch says.
Why would they have updated the other information? O/S, Auditor, etc.
more than 500 companies in North America either offering waste- and residuals-to-energy technology or project development services.
Various waste- and residue-to-energy projects are being implemented around the world.
A World of Variety
10/21/2011
http://www.recyclingtoday.com/Article.aspx?article_id=121384
Various waste- and residue-to-energy projects are being implemented around the world.
Not long ago, the term "waste-to-energy" was used primarily to refer to incinerators or "mass burn" facilities that turned refuse into a few kilowatt hours of electricity in regions that did not have much landfill space.
As energy and fuel costs have risen (and landfill space has hardly multiplied, it should be noted), more research and development time and more investment dollars have been poured into squeezing some type of energy out of discarded materials.
Examples ranging from the mixed plastics-to-truck-fuel initiative of Sita UK (see "Fueling a Fleet" in the June 2011 Recycling Today) to a number of refuse-derived fuel technologies have attracted funding for pilot programs and beyond.
Keeping Wheels Moving
Sita UK is not the only company turning to alternative fuels to address one of its largest operating costs. Houston-based Waste Management Inc., among the largest waste and recycling collection and processing companies in the United States, added the thousandth natural gas (CNG) truck to its fleet of collection vehicles in July 2011.
At a ceremony at its Carson, Calif., property, the company commemorated the delivery of its thousandth natural gas vehicle with the mayor of the nearby city of Long Beach starting up the new recycling collection, truck which will serve his city's residents.
"This is a special milestone in our journey to develop the cleanest fleet of heavy-duty trucks in our industry," Duane Woods, a senior vice president at Waste Management, said.
The trucks Waste Management runs out of its Carson service yard—as well as one-third of its California natural-gas-fueled fleet—are powered by liquefied natural gas (LNG) derived from the decomposition of organic waste at its Altamont Landfill in Livermore, Calif. Since November of 2009, the landfill has been generating as much as 13,000 gallons of LNG per day. Waste Management calls it "a virtually zero-carbon transportation fuel."
In one year's time, Waste Management's 1,000 natural gas trucks will displace 8 million gallons of petroleum and eliminate 45,100 metric tons of greenhouse gas emissions, according to the company.
"I'm pleased to celebrate the opening of this new facility that's quite literally turning trash into fuel and helping us reach our environmental goals by reducing our greenhouse gas emissions and creating a healthier atmosphere for all Californians," stated Mary Nichols, chair of the California Air Resources Board, at the opening of the Altamont LNG plant.
Waste Management also has CNG and LNG fueling stations at 17 of its facilities throughout North America, with more under development. Woods says the company hopes to develop a new landfill-gas-to-LNG facility at its landfill in Simi Valley, Calif.
In 2003, Waste Management committed to reducing greenhouse gas emissions through increased recycling, the use of alternative transportation fuels and the beneficial use of landfill gas.
Also in North America, containerboard manufacturing and recycling firm RockTenn Co., Norcross, Ga., has signed an agreement to convert its mill byproduct into fuel using Plastic2Oil technology from JBI Inc., Thorold, Ontario.
Under the agreement, JBI has an exclusive 10-year license with a renewal option to build and operate Plastic2Oil processors at RockTenn facilities to process plastics recovered at the company's paper mills and material recovery facilities and to mine and process plastics from RockTenn's monofill sites.
RockTenn has been storing its plastics byproduct in company-owned plastics-only monofill sites for several years. The agreement gives JBI the exclusive rights to mine plastics from these sites and convert them to the variety of fuels—including gasoline, diesel fuel and propane—produced through the Plastic2Oil process.
"RockTenn has the industrial relationship and feedstock to support hundreds of Plastic2Oil processors," John Bordynuik, JBI founder and CEO, says.
And in the United Kingdom, Enval, based in Cambridge, England, has announced a partnership with several consumer goods brand owners to support the construction of a commercial scale facility for what Enval calls its "new material recovery technology."
Enval says its technology offers a recycling opportunity for flexible laminate packaging that has, to date, been largely unrecyclable. The technology separates the material into its constituent components, producing clean aluminium that can be recycled, "while the hydrocarbons can be used as fuel or chemical feedstock," according to the company.
"Enval is delighted to announce the formation of the Enval Consortium," says Enval Business Development Director David Boorman. "By participating in this consortium," he continues, "our partners are clearly demonstrating their commitment to tackling the environmental consequences arising from their own products' end-of-life."
A news release from Enval notes the process can expand the recycling opportunities for packaging such as pouches for drinks and pet food, aseptic drink cartons and laminate tubes.
Enval, originally formed as a spin-off from the University of Cambridge's Department of Chemical Engineering, is a privately funded company. According to www.enval.com, the consortium includes Kraft Foods and Nestlé.
Better than Burying
At an annual meeting of solid waste district and landfill managers from throughout North America, much of the programming focused on the topic of waste to energy.
Several panelists at a session on waste to energy (WTE) at Wastecon 2011, the annual convention of SWANA (the Solid Waste Association of North America), also had witnessed earlier versions of waste-to-energy technology as a growing trend within the industry.
For the most part, though, the panelists were encouraged that solid waste districts could learn from earlier booms and create systems that can serve their communities well for decades to come.
Paul Stoller of Stoller Consulting said a document prepared for the U.S. Environmental Protection Agency (EPA) back in the 1970s remained a good road map for districts and consultants embarking on a WTE project today.
The EPA Resource Recovery Management Model, said Stoller, "provides a comprehensive description of all the activities necessary to complete a project."
The "comprehensive" part may be intimidating, Stoller said, but it is important. "Many projects have been [derailed] because of shortcuts," he remarked. The EPA document calls for the hardest steps, such as site selection, to be put first, so a project's feasibility can be determined up front rather than later.
Alan Cohen of consulting firm HDR, based in Boston, provided attendees a list of such uncertainties that must be addressed when embarking on a project. Cohen's list included site selection as well as having a steady supply of feedstock (waste) at the front end and a home for residuals at the end of the process.
Studying technology, Cohen noted, was a phase that could be endless. New technologies carry a risk of not working as promised when built to a larger scale, which may have been one of the reasons the Durham-York region in Ontario has broken ground a on a mass-burn WTE facility—the first new such plant in Canada in 22 years, according to Cohen.
Tom Reardon of Gershman, Brickner & Bratton Inc. (GBB, www.gbbinc.com), a consulting firm based in Fairfax, Va., provided an overview of waste-to-energy projects underway or in the later planning stages in North America. He said GBB's research reveals that there are more than 500 companies in North America either offering waste- and residuals-to-energy technology or project development services.
Reardon said some 54 percent of what is considered the municipal solid waste (MSW) stream is currently landfilled. If half of this material went to WTE facilities, he said landfill space could be greatly extended while a significant amount of power also could be generated.
For a morning keynote session at the 2011 Wastecon event, several current and former SWANA board members and other panelists were convened to discuss the topic of "Game Changers," or fundamental changes underway in the solid waste industry.
Foremost among those topics were waste-to-energy and recycling initiatives and the potential for an increasingly smaller percentage of discarded materials to head to landfills.
Panelists such as Patrick Carroll of Palm Beach County (Fla.) and current SWANA President Jim Warner of Lancaster County (Pa.) remarked that their solid waste districts had recently invested heavily in waste-to-energy capacity.
Warner commented that extending the life of the landfill used to be the main reason for investing in such systems. Republic Services, among the largest waste and recycling hauling and processing companies in the U.S., also operates more than 200 landfills. The company's Senior Vice President of Communications Will Flower, however, said customers increasingly communicate that they'd like to avoid sending discarded materials there.
Looking back to the early days of SWANA in the 1960s, a ton of waste picked up by haulers was likely to result in a ton of material taken to a landfill, said Flower. That equation has changed significantly. "More and more material is recycled or composted," Flower said. "Customers have changed, both waste districts and commercial customers."
Al Lynch of the solid waste department in North Vancouver, British Columbia, says his district has reached a 60 percent diversion goal, and he would not be surprised if that rate goes even higher with the advent of extended producer responsibility (EPR) laws in Canada. EPR laws in Canada often impose municipal recycling and collection costs onto consumer products and packaging companies. "The goal of EPR is so the products will be designed better [for recycling] by producers," Lynch says.
Although SWANA includes the word "waste" in its name, moderator Tom Parker, of consulting company CDM, based in Cambridge, Mass., asked panelists whether "waste" could appropriately be replaced by the word "resources."
Patrick Carroll of Palm Beach County was accepting of the terminology change. "We're using even non-recyclables to generate power," Carroll said. "Absolutely it's a resource."
Wastecon 2011 was Aug. 23-25 at the Gaylord Opryland Resort in Nashville, Tenn.
The author is editorial director of Recycling Today and can be contacted at btaylor@gie.net. This article originally ran in the Sept./Oct. issue of Recycling Today Global Edition, a sister publication.
http://www.recyclingtoday.com/Article.aspx?article_id=121384
They are still listed as their "DAD" on the OTC site.
http://www.otcmarkets.com/stock/jbii/quote
DAD/PAL
Sichenzia Ross Friedman Ference Anslow LLP
61 Broadway
32nd Floor
New York, NY, 10006
United States
This information could be incorrect though. The auditor is still listed as Ernst & Young.
FORM 8K
http://jbii.ir.edgar-online.com/fetchFilingFrameset.aspx?FilingID=8050248&Type=HTML
Item 8.01 Other Events
On July 14, 2011, the staff of the Securities and Exchange Commission’s (SEC) Division of Enforcement issued a “Wells Notice” to JBI, Inc., ( 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 Enforcement staff, the Company believes that the proposed lawsuit relates to the Company’s subsequently 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. Based on information obtained from the Enforcement staff, 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.
Under the SEC’s procedures, a Wells Notice indicates that the SEC Enforcement staff has decided to recommend instituting litigation, but the Commission itself has not decided whether or not to approve such a recommendation. The Company has the opportunity to respond to the SEC staff before a decision is made whether to take any adverse action. The Company produced a large quantity of documents, and cooperated with the Enforcement staff, with regard to the investigation preceding the Wells Notice.
The Company cannot predict the outcome of the dispute with the SEC, 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 how to proceed based on consultation with its litigation counsel.
To the best of the Company’s knowledge, the Enforcement staff’s concerns do not currently encompass matters unrelated to the restatement. The Company took a number of proactive steps in connection with the restatement, including hiring additional accounting staff members, retaining a reputable, top-30 accounting firm (WithumSmith+Brown) to provide relevant expertise, and upgrading its accounting software. Previously, on May 21, 2010, the Company disclosed that its financial statements for the indicated time periods should no longer be relied upon.
The Company is deeply concerned about the recent significant trading activity and stock price decrease, which were unaccompanied by any Company disclosures during the 48 hours prior to receiving the Wells Notice. The Company was unaware of the notice until shortly prior to its receipt, and members of management did not trade in the Company’s stock during this period.
The Company does not anticipate that the notice will negatively impact its business operations.
Item 9.01 Financial Statements and Exhibits.
Splitting hairs. The 10Q came out on the 22nd. Today it's the 24th. Closer to a month...and with Turkey day...
Thanks. The NT is there from the last 10Q.
Thanks for the update! So in a month when the 10Q comes out.
We'll know in a couple of weeks when the 10Q comes out. What if revenue hasn't increased? What if the sales that have already been announced are THE only sales YTD? What if there is no addendum?
All i know is JBI is making and selling fuel and ramping up their business....if that's hype gimme a boatload of it each quarter as revenue heads UPWARD...hype me long on JBI....just syin'
CNN personnel would also find:
Well's Notice
Class Action Lawsuit
Employee Lawsuits
Domark Lawsuit
No patents
CNN personnel would find:
that JBII has been growing this P2O business from the lab to commercial operation over the last two years...
that NY DEC has issued permits for the NF facility to operate 3 processors commercially...
that JBII has a 10-year agreement with Rock-Tenn to turn all their waste plastic to fuel as quickly as processors can once placed...
that JB was a presenter at a regional conference, followed up by the TEDx-Buffalo presentation... &
that the AWMA group toured the P2O plant just this past week!
IMO that ought to give CNN enough reasons to call (or send a reporter to NF) and change the label on the clip to VETTED by CNN!
Senator Tim Kennedy is NOT one of THE Kennedy's. A little DD goes a long way.
Born on October 20, 1976, Tim grew up in a blue-collar family in South Buffalo. Tim’s parents, Marty and Mary Kennedy, raised Tim and his four siblings to work hard, focus on their education, help their neighbors and be involved in their community. Tim still lives in the South Buffalo neighborhood – not far from where he grew up – where he and his wife, Katie, are raising their three children, Connor, Eireann and Padraic.
http://www.nysenate.gov/senator/timothy-kennedy/bio
How many people were on the tour? Did anyone follow the cars to the plant? Or did they hire a bus?
I saw one post saying "2 and 3 good to go" but it didn't say 2 & 3 were processors. Is that an assumption?
It's been 3 months since JBI PR'd the RKT plan. Any news on that?
Any real news on anything? Longest the company has been quiet since 2009.
24,009 new shares issued and 25,000 more restrictions lifted... Yesterday.
Speaking of equity issuances.........
SEC has not stated what they have an issue with. The company stated they 'believe' that is what the SEC has an issue with; equity issuances, acquisitions & valuation of media credits. There are no public documents from the SEC at this time.
http://www.sec.gov/Archives/edgar/data/1381105/000121390011003788/f8k071411_jbi.htm
Item 8.01 Other Events
On July 14, 2011, the staff of the Securities and Exchange Commission’s (SEC) Division of Enforcement issued a “Wells Notice” to JBI, Inc., ( 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 Enforcement staff, the Company believes that the proposed lawsuit relates to the Company’s subsequently 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. Based on information obtained from the Enforcement staff, 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.
Under the SEC’s procedures, a Wells Notice indicates that the SEC Enforcement staff has decided to recommend instituting litigation, but the Commission itself has not decided whether or not to approve such a recommendation. The Company has the opportunity to respond to the SEC staff before a decision is made whether to take any adverse action. The Company produced a large quantity of documents, and cooperated with the Enforcement staff, with regard to the investigation preceding the Wells Notice.
The Company cannot predict the outcome of the dispute with the SEC, 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 how to proceed based on consultation with its litigation counsel.
To the best of the Company’s knowledge, the Enforcement staff’s concerns do not currently encompass matters unrelated to the restatement. The Company took a number of proactive steps in connection with the restatement, including hiring additional accounting staff members, retaining a reputable, top-30 accounting firm (WithumSmith+Brown) to provide relevant expertise, and upgrading its accounting software. Previously, on May 21, 2010, the Company disclosed that its financial statements for the indicated time periods should no longer be relied upon.
The Company is deeply concerned about the recent significant trading activity and stock price decrease, which were unaccompanied by any Company disclosures during the 48 hours prior to receiving the Wells Notice. The Company was unaware of the notice until shortly prior to its receipt, and members of management did not trade in the Company’s stock during this period.
The Company does not anticipate that the notice will negatively impact its business operations.
Since their concern was media credits and other non-cash transactions from 2009 that have already been fixed and audited by TWO top tier auditing firms, I highly doubt there's anything current for concern.
Yet in JULY 2011 it was $4.15
I'd say it's down. YOY is deceiving.
Then his name is public information. Just like the supposed data patent number. How about sharing?
Oh and this list too.
http://peswiki.com/index.php/Directory:Plastic_and_Energy
Nobody else has it? Check out this list.
http://peswiki.com/index.php/Directory:Waste_to_Energy
Technologies for Sale or License
http://www.ideaconnection.com/technology-for-sale/11565-CATALYTIC-PYROLYSIS-OF-SOLID-BIOMASS-AND-RELATED-BIOF.html
CATALYTIC PYROLYSIS OF SOLID BIOMASS AND RELATED BIOFUELS, AROMATIC, AND OLEFIN COMPOUNDS
This invention relates to compositions and methods for fluid hydrocarbon product, and more specifically, to compositions and methods for fluid hydrocarbon product via catalytic pyrolysis. Some embodiments relate to methods for the production of specific aromatic products (e.g., benzene, toluene, naphthalene, xylene, etc.) via catalytic pyrolysis. Some such methods may involve the use of a composition comprising a mixture of a solid hydrocarbonaceous material and a heterogeneous pyrolytic catalyst component. In some embodiments, the mixture may be pyrolyzed at high temperatures (e.g., between 500 DEG C and 1000 DEG C). The pyrolysis may be conducted for an amount of time at least partially sufficient for production of discrete, identifiable biofuel compounds. Some embodiments involve heating the mixture of catalyst and hydrocarbonaceous material at high rates (e.g., from about 50 DEG C per second to about 1000 0C per second). The methods described herein may also involve the use of specialized catalysts. For example, in some cases, zeolite catalysts may be used; optionally, the catalysts used herein may have high silica to alumina molar ratios. In some instances, the composition fed to the pyrolysis reactor may have a relatively high catalyst to hydrocarbonaceous material mass ratio (e.g., from about 5: 1 to about 20:1).
Patents:
WO 2,009,111,026
Inventor(s): HUBER GRORGE W [US]; JAE JUNGHO [US]; VISPUTE TUSHAR [US]; CARLSON TORREN [US]; TOMPSETT GEOFFREY [US]; CHENG YU-TIN [US]
Type of Offer: Sale
[CONTACT THE OWNER OF THIS TECHNOLOGY]
[MORE BIOMASS TECHNOLOGIES]
I'm betting unit 1 will be offline and the reason will be "safety" of the visitors. And unit 2 & 3 will not be anywhere in sight.
They choose not to make spec fuel. They have clearly stated they can.
JBI makes spec fuel, Agilyx doesn't.
How many gallons is JBI producing? Link? Filing? PR?
Progress to date
Agilyx’s facility near Portland, Oregon is the largest commercially operational waste plastic to synthetic crude oil facility in North America. The Company was the first of its kind to successfully permit in the U.S. and has the first refinery off take agreement in the industry. Beginning more than two years ago, Agilyx has produced and sold more than 120,000 gallons of crude oil, recovering more than 1 million pounds of plastic to date.
Maybe JB wants to wait for the resolution of the:
Wells Notice
Class Action Lawsuit
Laws Lawsuit (pregnant lady with cancer)
Domark mess
And any other open legal action
Maybe JB wants to wait until:
Cash flow
A processor up and running
etc. etc. etc.
But you go ahead - call the press and get them right on this!
Do you have a link to the word "former" as you stated below?
was used in regards to "former" officers being named as defendants.
Charges filed against officers of JBI.
Will you care then?
ONE LEAD PLAINTIFF - that's all they need. And they have ONE LEAD PLAINTIFF. There were three vying for the position that we were aware of.
The Niagara Frontier Section of the Air and Waste Management Association
(AWMA-NFS) is a non-profit organization for people involved in the
environmental profession consisting of approximately 200 individual and corporate members from the Western New York area." Members come from local universities, NYS DEC, local industries and environmental consulting and legal companies. The AWMA-NFS is a local section of the Air & Waste Management Association which is a technical and educational organization with over 16,000 members worldwide. The AWMA serves its members and the public by promoting environmental responsibility, and providing technical and managerial leadership in the environmental field. Locally the AWMA is involved in several areas which directly aid the environment or promote environmental activities, including: an annual environmental topic seminar, the annual Envirun Race, scholarships for college students and teacher workshops.
http://www.awmanfs.org/dinner_pics.htm
Or another PIPE in the offing.
How's that second processor coming? Is #1 online?
How many people have lost their jobs at Pakit and Javaco?
This is greener. http://www.ted.com/talks/mike_biddle.html