says, "Companies that trade on the OTCBB will require Cash/Cheque. "
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.
continuous through-put of over 2000 lb/h
We were told the automatic clean-out can handle up to 70 lbs/hour.
The latest throughput estimate was 10% residue, on average. Where's all the extra residue backing up?
12.345679 shares for 1 McChicken!
A new record!
How many for a new Cadillac Escalade, I wonder...
Do you think you were lucky enough to snag some of John Bordynuik's shares
when he dumped at least 850,000 shares at much higher prices?
Is it already time to blame the victims?
I guess the rubes just have it coming to them, eh?
How much does the free matrix cost to use?
The old spreadsheet cost some their life savings.
There are inexpensive dehydrators in the plastic recycling industry.
Yeah, JB is already on record as tinkerfarking around with them. Should take only another year or so to create the FlagShip Processor of His Dreams.
And another $8 to $10 million.
1.4 Employee Duties
(a) General Duties. The Employee shall do and perform all services, acts or things necessary or advisable to manage, supervise and where available, enhance the P2O® processor and technology of the Company in connection with the Company’s operations at 20 Iroquois St., Niagara Falls, New York (“Iroquois Facility”). The employee will present the technology to the public, shareholders, and clients. The Employee shall report to the Board of Directors. Employee shall loyally, conscientiously, and professionally perform all of his duties and responsibilities, which may be revised from time to time, as Company deems appropriate or necessary. At all times during his employment, Employee shall adhere to all rules, policies, and guidelines of Company that are now in effect or as they may be modified by the Company's management, in its sole discretion, from time to time.
Management and Budget Employee is willing to continue to assume personal responsibility for the Company’s compliance with the Permits, provided that, in the performance of his General Duties set forth in paragraph 1.4 hereof, Employee is given control over the staff and operations at the Iroquois Facility that comprise fabrication personnel, engineers, a plant manager, and IT and R&D administrative personnel (“Iroquois Facility Technology Staff”) and the Company agrees to budget sufficient staff and capital funds devoted to the operations at the Iroquois Facility that are reasonably required by such facility, subject to reasonable availability of funding, including necessary and customary budgetary reserves. Accordingly, it is agreed between Company and Employee that Employee will continue to assume personal responsibility for the Company’s compliance with the Permits that have been issued at the Iroquois Facility, and that Employee shall have full management authority over the Iroquois Facility Technology Staff and technology operations at the Iroquois Facility, including research and development, product enhancement, maintenance procedures, permit support and add-on development (e.g., processing waste oils).
http://www.sec.gov/Archives/edgar/data/1381105/000121390012002764/f8k051512ex10ii_jbi.htm
John was out of state at the time of the 1st incident. I guess he didn't learn anything from that because he did it a second time.
Tony loaded up the machine with water logged frozen chunks of plastic.
John Bordynuik has always been in charge of operating the machines. How'd he let wet plastic get inside? Did Tony hogtie him and make him watch?
Also, under JBI's DEC permit, no plastic is to be stored outside in the elements. Of course, from aerial shots, we already know JBI routinely ignores that prohibition.
forget the 30 million shares he gave back to the treasury.
Which he gave back because he was contractually obligated to do so, not because he was a 'good guy'.
Yes, so forget those shares.
Hey, when do the Fraud Divvy shares start to hit the market?
3 million shares to be sold to raise a slush fund. Ain't going to be very 'slushy' at these prices, but every 'divvy' is great, right?
Sound familiar?
Yeah it does. Stolen from "Moneyball".
JBII (OTCQB) REPUDIATES SAIC REPORT!!:
THOROLD, ON--(Marketwire - Oct 12, 2012) - JBI, Inc. ("JBI" or the "Company") (OTCQB: JBII) has become aware of the improper release of a confidential executive summary prepared by SAIC Energy, Environment & Infrastructure, LLC ("SAIC") relating to SAIC's May 2012 evaluation report on JBI's Plastic2Oil ® ("P2O ®") technology.
As previously announced by JBI on May 15, 2012, the SAIC report was commissioned by JBI as an independent review of its technology, process and business model. However, neither the SAIC report nor the executive summary should be relied on as management's analysis or opinion regarding JBI's current strategic plan or its business or financial prospects.
Furthermore, the conclusions drawn by SAIC were based upon a number of assumptions made at the time of the report that may be outdated or incorrect or that may prove to be incorrect in the future. Management's current assumptions may differ and additional events, risks and uncertainties may cause JBI's actual results and performance to differ from SAIC conclusions or projections.
JBII down over 95% since the SEC sued them for stock and accounting fraud stemming from those worthless Media Credits.
I'd say they were pretty much dis-gorged by the market, nest paws? ;)
LOLOLOLOL. Bye-Bye JBI!
How much did those Media Credits end up being worth again?
;) RIP JBII 2014
100,000,000 shares at a nickel would get them through the 10K filing
...and would about double the O/S. Would need an A/S increase before they could even do that, though.
Tic Toc.
colluding entities have tried every trick in the book 4 years .. and they still *failed*
Yes, I believe John Bordynuik has colluded and used every promoter's trick in the book over the last four years.
His/their failure is evident. RIP JBII 2014.
JBII down 77% since Heddle 'took over'.
Oh, the Humanity!
Smuggled video clip of Bordynuik operating P3 at optimal rates
I got bare minimum 1,000 lbs/hour average including all down time.
So, given all that, how much money will they lose in 4Q2013?
I calculated it based on the barrels of residue produced
What percentage residue figure did you use?
12.5 cents, One Bit
<snicker>
2013: 13 cents
the balance sheet which includes 5 processors.
No, it doesn't.
I think the disk is located just to the left of the dreaded yellow ladder.
You mean out in the yard in the ever-growing scrap heap of failed Bordynuik tinkerfarking experiments, as seen in a google bird's eye view?
Yeah, you're probably right about that.
A legit company would put out a statement
confirming or denying the blow out and the remediation/NYS DEC interaction.
This supposedly happened more than a week before the AGM, and not a word about it.
Bad Form, if it's true.
JBI recently purchased a piece of property on the Buffalo River, on Ganson Street, from St. Mary’s Cement, where JBI intends to store and process the plastics it burns to make diesel in its Niagara Falls plant.
So, they haven't been able to get out of the lease for the Thorold recycling center, and they're already buying another site to store and process plastic.
Brilliant!
an overpressure situation occurred in one of the facility’s reactors, causing an emergency release rupture disk to blow.
Well, they always said this one was going to 'blow the F up'.
Congrats, JBI!
For example, the old feedstock we received before the transition in August, was 50% rejected at the hopper.
How is that possible? JBI is supposed to inspect feedstock *before* it gets unloaded at the site. It's in the NYS DEC permit.
I think Bordynuik is telling more tall tales, and hanging his failures on the once lauded Rauber and Bogolin.
I call BS on Bordynuik.
The real PROOF about residue rates
"Through the various tests by independent engineering firms and our own internal Mass & Energy Balance, 2,200 pounds of waste feedstock comprised of plastic and HTF, makes on average 75% liquid fuel product or 1,320 pounds or 184 gallons of diesel and 330 pounds or 52 gallons of naphtha. Residue could be up to 220 pounds and off-gas or gas to run the system would be approximately 330 pounds. "
----
10% residue, not 2% to 4%
Residue
Our residue from Processor 3 is an inert plasticized carbon residue, consisting of approximately 80% carbon black and 20% plastic. This residue is ejected from Processor 3 in a liquid form, and solidifies at room temperature.
http://www.sec.gov/Archives/edgar/data/1381105/000121390013006199/f10q0913_jbiinc.htm
Now, you link me the documentation that the EPA allows anyone to burn that stuff anywhere. Deal?
Petcoke will be monetized
Any links to EPA rules on using plastic infused petcoke?
JBI's special petcoke contains 20% plastic, right? I can't see an environmental agency allowing that to be burned like regular petcoke.
Not In My BackYard.
Weren't they originally supposed to cost about $200,000?
I remember a time when they were only going to cost $80,000.
Ahhh, Good Times!
I liked the story better
when it was a couple of high school educated rubes shoveling free plastic into a self-energized hole, then sitting back to play pinochle while the majik catalyst spun liquid gold.
more debt financing
There are no assets left to pledge for additional debt financing.
So, to recap
They don't have financing yet.
They had poor production in the first half of 4Q, but they won't disclose the amounts until the end of March 2014.
Not only do they need pristine plastic of a certain kind, but their suppliers will try to slip some bad stuff into the load, so they need an on-site chem lab to verify each load. *AND* the same is true for the necessary HTF to run the machine consistently. Any hiccup in supply brings the whole process to a halt.
John Bordynuik is still calling all the shots. In addition, he's the only man on this planet that can make the machines run as claimed.
As long as they get their plastic and HTF problems ironed out. And their trucking/fuel storage problem.
Any doubt in anyone's mind that John Bordynuik is a de facto officer of JBI, having significant control over the company?
Oh, god, Tape Reading Redux
The WunderMachine can't run at 3000lbs/hr unless Bordynuik is there to babysit it and his hired engineers.
What a farce of an AGM
It's clear Bordynuik is the one calling all the shots. I wouldn't trust a word out of his mouth.
Let the selling commence.
74% loss since Heddle took over, in less than 4 months
4 months is a long time for a JBII CEO to hold his position. Anyone check the Greyhound schedule for the next bus through Niagara Falls?
I wonder who the next saviour of the company will be? Maybe someone from the Robbins family; they know fuel and fuel blending, right?