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Heddle Saves JBI 2.1 Million! Brilliant Move! New investors are taking notice as the news spreads across the globe.
NIAGARA FALLS, NY -- (Marketwired) -- 08/26/13 -- JBI, Inc. (the "Company" or "JBI") (OTCQB:JBII), a clean energy company that recycles waste plastic into liquid fuels, today announced continued actions to help significantly reduce costs as part of its ongoing goal to achieve cash flow positive results.
The Company plans to close operations at its recycling facility in Thorold, Ontario over the next several weeks, at which point all eight employees at the facility will be laid off. The Company's new executive team has decided to forego having a two stage plastic delivery process in favor of dealing with processor-ready plastics delivered directly to its fuel processing site in Niagara Falls, NY.
Based on operational data from the first six months of 2013, the Company estimates total annualized cost savings as a result of these measures to be approximately $800,000. In July, the Company announced additional cost reduction measures that it anticipated would result in annualized cost savings of approximately $1.3 million.
"Aggressively managing costs is a key component in positioning a company to eventually become cash flow positive. In keeping with the encouraging production data we've had to start the third quarter, these cuts were an important strategic move for us. We continue with the vision of procuring non-recycled streams of plastic that we can divert from landfill," stated JBI's Chief Executive Officer Richard Heddle.
JBI's Chief Financial Officer Nicholas Terranova stated, "We feel there is a great opportunity to reduce the cost of our fuel production, as a large portion of these costs have been associated with handling and preparing the plastic before it enters our processors in Niagara Falls. These measures are being taken to address these specific costs directly. Based on reviews of our cost of goods sold, we have realized that acquiring non-recycled, processor-ready plastic is the easiest way to continue having adequate feedstock at a desirable cost while streamlining our supply chain."
"A recent procurement partnership with a company that has been able to provide us with great plastic that is processor-ready makes us believe there is ample supply to be delivered directly to our site. Consistent delivery and consistent on-site fuel production make it simple and effective for us to manage procurement in this fashion, while making sure that we abide by all necessary guidelines in our permitting," stated company founder and Chief of Technology John Bordynuik.
http://www.nasdaq.com/press-release/jbi-inc-announces-continued-cost-reduction-measures-20130826-00599
http://finance.yahoo.com/news/jbi-inc-announces-continued-cost-183138035.html
Schoolchildren are now Supporting JBI!!! From the mouth of babes… Parents from around the world have something to learn from their children now that CRAYOLA has launched their new COLORCYCLE PROGRAM. This program converts waste markers into clean energy through JBI. Children are now actively involved in helping turn waste into fuel. The future of our world is looking better!
EASTON, PA – August 1, 2013 /PRNewswire/ — Crayola today launched its nationwide “COLORCYCLE” marker program, which transforms used markers directly into clean energy. The program is the latest innovation in the company’s continuing commitment to advance its sustainability efforts. The “COLORCYCLE” marker program will allow students to responsibly dispose of any type of used marker through an in-school collection process, keeping plastic out of landfills. Once the used markers are collected, a unique technology will convert the markers into usable fuel.
http://www.multivu.com/mnr/57862-colorcycle-marker-crayola-clean-energy-program-clean-energy
600,000 Gallons of Fuel since 2010!!! And that is just a drop in the bucket compared to JBI's True Potential. JBI is the real deal! Fox News did a great job on covering this story.
http://www.foxnews.com/us/2013/09/03/work-art-crayola-turning-markers-into-fuel/
Processor #3 First Run Successful!!!
Great news for JBI! The first run for processor #3 was a success and now the second run is for greater production!! Fantastic!!!
http://www.plastic2oil.com/site/news-releases-master/2013/08/30/jbi-inc-receives-1-million-from-debt-financing-and-provides-processor-no-three-operations-update
Thank You For The Updates JBI!!! That is really great news that #3 is now in it's second run and the goal is to increase Feed Rates! Fantastic!
http://www.plastic2oil.com/site/news-releases-master/2013/08/30/jbi-inc-receives-1-million-from-debt-financing-and-provides-processor-no-three-operations-update
Our next step..maximizing feed rates!
Great News! #3 is rolling now!!!!
JBI, Inc. Receives $1 Million From Debt Financing and Provides Processor No. Three Operations Update
Posted Aug 30th, 2013 in 2013 News Releases
Niagara Falls, New York, August 30, 2013 - JBI, Inc. (the “Company” or “JBI”) (OTCQB: JBII), a clean energy company that recycles waste plastic into liquid fuels, announced today the receipt of $1 million in proceeds from the sale of a secured promissory note and a successful first cycling of its flagship third processor leading to its continued operation.
On August 29th, the Company sold to Mr. Richard Heddle, the Company’s President, Chief Executive Officer and a director, a $1 million 12% secured promissory note, together with a five-year warrant to purchase up to one million shares of the Company’s common stock at an exercise price of $0.54 per share. Gross proceeds to the company were $1 million. The Company had previously reported the entry into a term sheet agreement with Mr. Heddle concerning the note financing. Further details regarding the financing can be found in the Company’s Form 8-K filed with the Securities and Exchange Commission.
“This financing is a crucial bridge for our Company, as we continue to move forward with our new executive team and implement strategies for cost reduction, while also focusing on building fuel production momentum,” stated Chief Financial Officer Nicholas Terranova.
As previously planned, the Company cooled and cycled processor number three, it’s recently commissioned Plastic2Oil® processor, for approximately six days to inspect the machine internally, perform routine safety checks, and make minor adjustments to the machine’s flue gas piping. Processor number three’s initial production run lasted a total of 30 days, until the machine was cooled down intentionally.
“The speed in which we were able to cycle processor number three was very encouraging. We believe the technology behind our third processor is absolutely world-class. With our previously disclosed spending cuts and production momentum, we continue to progress with an eye on moving this company closer to a cash flow positive state,” stated Richard Heddle, JBI’s Chief Executive Officer.
JBI Chief of Technology, John Bordynuik stated, “Processor number three, as expected, had very mild amounts of coking throughout the pre-melt and the residue removal system has been operating as we had hoped. The resultant mild coking in the pre-melt was expected, due to our flue gas piping needing to be slightly adjusted. The reactor and residue kilns were both in excellent condition during our visual inspection. In addition, the adjustments that were made to the machine’s flue gas piping have helped the machine achieve ideal heat profiling, which is precisely what we were striving for during this period of downtime. Our next step for processor number three is to work on maximizing feed rates.”
http://investorshub.advfn.com/boards/post_new.aspx?board_id=15341
Permits, Partnerships, and Processors Oh My! JBI is following Exxon and Rome’s Example!
Rome and Exxon were not built in a day. JBI is taking it a day at a time and we are seeing some positive changes of late with Permits, Partnerships, and Processors. And now the new CEO is saving JBI money! Awesum!!!Just Awesum!!!
http://ih.advfn.com/p.php?pid=nmona&article=58212639
http://www.multivu.com/mnr/57862-colorcycle-marker-crayola-clean-energy-program-clean-energy
http://ih.advfn.com/p.php?pid=nmona&article=57981891
Quote;... monthly revenue of around $2.9M.
Thanks for sharing your insight into a profitable future for JBI!!!
Heddle Saves JBI 2.1 Million! Brilliant Move! New investors are taking notice as the news spreads across the globe.
NIAGARA FALLS, NY -- (Marketwired) -- 08/26/13 -- JBI, Inc. (the "Company" or "JBI") (OTCQB:JBII), a clean energy company that recycles waste plastic into liquid fuels, today announced continued actions to help significantly reduce costs as part of its ongoing goal to achieve cash flow positive results.
The Company plans to close operations at its recycling facility in Thorold, Ontario over the next several weeks, at which point all eight employees at the facility will be laid off. The Company's new executive team has decided to forego having a two stage plastic delivery process in favor of dealing with processor-ready plastics delivered directly to its fuel processing site in Niagara Falls, NY.
Based on operational data from the first six months of 2013, the Company estimates total annualized cost savings as a result of these measures to be approximately $800,000. In July, the Company announced additional cost reduction measures that it anticipated would result in annualized cost savings of approximately $1.3 million.
"Aggressively managing costs is a key component in positioning a company to eventually become cash flow positive. In keeping with the encouraging production data we've had to start the third quarter, these cuts were an important strategic move for us. We continue with the vision of procuring non-recycled streams of plastic that we can divert from landfill," stated JBI's Chief Executive Officer Richard Heddle.
JBI's Chief Financial Officer Nicholas Terranova stated, "We feel there is a great opportunity to reduce the cost of our fuel production, as a large portion of these costs have been associated with handling and preparing the plastic before it enters our processors in Niagara Falls. These measures are being taken to address these specific costs directly. Based on reviews of our cost of goods sold, we have realized that acquiring non-recycled, processor-ready plastic is the easiest way to continue having adequate feedstock at a desirable cost while streamlining our supply chain."
"A recent procurement partnership with a company that has been able to provide us with great plastic that is processor-ready makes us believe there is ample supply to be delivered directly to our site. Consistent delivery and consistent on-site fuel production make it simple and effective for us to manage procurement in this fashion, while making sure that we abide by all necessary guidelines in our permitting," stated company founder and Chief of Technology John Bordynuik.
http://www.nasdaq.com/press-release/jbi-inc-announces-continued-cost-reduction-measures-20130826-00599
http://finance.yahoo.com/news/jbi-inc-announces-continued-cost-183138035.html
I have have bought all along the spectrum starting at .56 all the way into the $3's. I have picked up as much as I could recently in the low .30's and .40's. Yes it is time for this to hit it's potential. Much like the potential of Edison's light bulb,
...Other people had been working on the making of light bulbs in the past, but none of the earlier bulbs was ever able to work for more than a few minutes. Finally, on October 21, 1879, Edison's light bulb burned for a continuous thirteen and a half hours. The following bulbs lasted for 40 hours and Edison and his team worked hard to light the laboratory and his home with several of the new light bulbs for Christmas. On New Year's Eve of the same year, Christie Street became the world's first street to be lit by incandescent light bulbs with the help of a power system designed by Edison. By the summer of 1880, Edison had perfected the incandescent bulb enough to be able to produce and sell it in large quantities.
http://www.menloparkmuseum.org/thomas-edison-and-menlo-park
Last we heard the new processor was on its 23rd consecutive day!
The light bulb and JBI are here to stay.
Gut feeling - Next week we will shoot up!
Why you ask?
It's time. We have a new permit, new processor, a new vested CEO and the stock manipulation has slowed way down.IMO
Investors will welcome these changes
Really?
Quote:
It does, using it as some sort of metric to gauge short selling is nonsense.
Monitoring Stock Loan Availability
Overview:
IB provides a variety of methods to assist account holders engaged in short selling with monitoring inventory levels and borrow costs/rebates. The level of detail available, the time frame covered and the manner in which the information is accessed vary by method and a brief overview of each is provided below.
http://ibkb.interactivebrokers.com/tag/short-selling
LOL Try losing 30 billion and not a drop of oil!
Over the past few years, the large Western oil majors have been plagued by projects running substantially over budget, and taking much longer to complete than initially estimated. These hurdles are part of the broader challenge facing oil companies -- how to cope with the end of the era of "easy oil." Let's take a closer look at one project -- the Kashagan oil field -- that epitomizes these challenges.
ExxonMobil , Eni, and Royal Dutch Shell -- having plowed more than $30 billion into the project over the past decade, the field has yet to produce a single drop of oil.
http://www.dailyfinance.com/2013/06/01/kashagan-oil-field-highlights-industrys-woes/
I would say that 55 million is pretty cheap.
OPEN LETTER OF GRATITUDE TO RICK HEDDLE:
Thank you for coming on board as CEO, Chairman, shareholder, and debt holder. I know I speak for virtually every shareholder when I say: we thank you, and trust your actual real life professional successful experience. Please don't take the advice of amateurs who don't have JBII's best interest in mind.
Thank you to John Bordynuik as well for your perseverance and triumphant effort in developing this technology.
Sincerely,
Rawnoc
BRIG_88
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JBIIRULES
Nice work! What else is there about this guy that we don;t know?
JBI WILL PROSPER: Our world is looking for solutions to the large waste problems that increase everyday as the population on earth increases. JBI is one solution to the plastic waste problem. Investors must remember that with any business you will find competition. Be not swayed by flamboyant rhetoric but perform your Due Diligence to rightly divide the wheat from the chaff.
“If we could measure the damage to corporations from gossip, it might be more than the GNP of the Third World!”
Harvey Mackay
Author of Swim With The Sharks Without Being Eaten Alive and Pushing The Envelope
“Speak when you are angry– and you will make the best speech you’ll ever regret.”
Laurence J. Peter (1919 – 1988)
Educator, author of The Peter Principle
“If someone were to pay you 10 cents for every kind word you ever spoke and collect from you 5 cents for every unkind word, would you be rich or poor?”
Unknown source
JBI WILL SUCCEED regardless of what the opposition claims. With new Permits, Partnerships, Processors, and a Professional CEO, JBI is moving ahead in spite of the competition that tries to circumvent it. This adversity is only temporary.
In the middle of difficulty lies opportunity – Albert Einstein
“Nothing in the world is worth having or worth doing unless it means effort, pain, difficulty… I have never in my life envied a human being who led an easy life. I have envied a great many people who led difficult lives and led them well.”
Theodore Roosevelt
“If you would hit the mark, you must aim a little above it: Every arrow that flies feels the pull of the earth.”
Henry Wadsworth Longfellow
“The real glory is being knocked to your knees and then coming back. That's real glory. Thats the essence of it.”
Vince Lombardi Jr.
No one would ever have crossed the ocean if he could have gotten off the ship in a storm.
Unknown Source
That’s exactly what I keep saying! It would be great if JBII competitors and delirious suitors would finally stop that behavior and realize that JBII is the one to invest in. Truly a company that will make everything ok regarding the piles of plastic waste that litter our great mother earth.
Quote: The preferred insanity definition is ignoring 5 years of consistent scammish behavior and expecting things to turn out ok. That requires some backing !
That is hilarious! Isn't the definition of Insanity doing the same thing over and over again and expecting a different result.
I wonder how many other investors will find this great opportunity to invest in before it hits 20.00 a share. With three processors running and new partnerships being formed, along with approved permits for better performance, it is just a matter of time before JBII is trading at 20.00 a share. IMO.
Money Talks. This stock is priced correctly because the company has yet to validate it as a profitable income investment. For now it is all speculation. But for us longs who are buying these cheap shares, the speculation will be well worth it. When the long awaited for profits are realized, this stock will double, triple and quadruple repeatedly IMO. The company has continued to move forward despite repeated attempts to discredit it. 3 processors in place and stock holders aligned against the stock manipulators. JBII will succeed.
JbII sells fuel. Exxon sells fuel.
JBII 0.39 XOM 90.00 Hang in there longs, our day is coming!
Yes it was! I hope to score another 5K by Friday!
Thankfully the JBI stock manipulators are being reveled. Be aware of the many tactics these crooks are using to influence JBI from every conceivable and blatantly obvious angle.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=89979924
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=90531255
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=90586158
Permits, Partnerships, and Processors Oh My! JBI is following Exxon and Rome’s Example!
Rome and Exxon weren’t built in a day. JBI is taking it a day at a time and we are seeing some positive changes of late with Permits, Partnerships, and Processors.
http://ih.advfn.com/p.php?pid=nmona&article=58212639
http://www.multivu.com/mnr/57862-colorcycle-marker-crayola-clean-energy-program-clean-energy
http://ih.advfn.com/p.php?pid=nmona&article=57981891
Permit Amendments Approved for Heat Transfer Fluids Many Positive Advancements have been taking place with JBI
JBI, Inc. (the "Company" or "JBI") (OTCQB: JBII), a clean energy company that recycles waste plastic into liquid fuels, is pleased to announce that it has received all pertinent permit amendments from the New York Department of Environmental Conservation ("NYSDEC") to move forward with including heat transfer fluid into its Plastic2Oil ("P2O®") process.
http://ih.advfn.com/p.php?pid=nmona&article=58212639
Processor Number 3 is now complete! JBI, Inc. (the "Company" or "JBI") (OTCQB: JBII), a clean energy company that recycles waste plastic into liquid fuels, is pleased to announce that it has finished assembly of its third Plastic2Oil ("P2O"®) processor at its Niagara Falls facility.
http://ih.advfn.com/p.php?pid=nmona&article=57981891
Schoolchildren are now Supporting JBI From the mouth of babes… Parents from around the world have something to learn from their children now that CRAYOLA has launched their new COLORCYCLE PROGRAM. This program converts waste markers into clean energy through JBI. Children are now actively involved in helping turn waste into fuel. The future of our world is looking better!
EASTON, PA – August 1, 2013 /PRNewswire/ — Crayola today launched its nationwide “COLORCYCLE” marker program, which transforms used markers directly into clean energy. The program is the latest innovation in the company’s continuing commitment to advance its sustainability efforts. The “COLORCYCLE” marker program will allow students to responsibly dispose of any type of used marker through an in-school collection process, keeping plastic out of landfills. Once the used markers are collected, a unique technology will convert the markers into usable fuel.
http://www.multivu.com/mnr/57862-colorcycle-marker-crayola-clean-energy-program-clean-energy
I agree. Tomorrow it should go higher! I just had a sweet thought. Imagine on neighborhood garbage day, in front each house sits a bin for waste, yard waste, recycle, and one for JBI. I dare to dream!
Processor #3 should be the game changer! I agree with you that the price by then will be way up and those who realize this now are fortunate. The fact is this technology works and is an asset for mother earth and investors. Investors need to educate themselves on the truth of this process and decipher between the wheat and the chaff. The potential exists for these processors to eventually be a global market.
Processor #3 is what I hope will turn JBI around. I have followed JBI and supportive posts for years and have watched as JBI longs have battled the oppositions hopeful demise of JBI. And it has been a hard fought battle, to remind the public of the validity of JBI technology, and the need for such an earth friendly company to succeed. The potential for great success is always met with opposition. The stakes are high and the cards may be stacked but fate always has a way of pulling an ACE out of the sleeve. This technology is truly wonderful and mother earth will be be blessed with JBI's success. Do not be afraid of those who can kill a company but do be afraid of those who can kill a dream.
What a great opportunity to buy in at such a low price to a petroleum company! Exxon is trading today at $88.89 The value of JBII is not only in petroleum but also as solution to the worlds plastic garbage problem. Hang in there longs, the rewards are coming! Don't be discouraged by those who oppose this awesum technology.
It will be great when other countries start using JBI as a fuel source for their countries and to clean up the plastic mess. I realize that not everyone understands yet how the processors work but give it time. Can you imagine how much the stock will be worth then? Exxon closed at 86.44
The list for this processor technology must be growing. Has anyone heard of any other countries inquiring about the technology from JBI?
DOUBLE PRODUCTION COULD DOUBLE THE PPS. I'm predicting that the news of double production will double the PPS. Go JBII!!
Millions and Millions will be made! IMO this is not your everyday mom and pop start up company. The competition from oil, waste companies, and investors with other interests are the large dynamics that JBI is up against. This technology is proven, and the opposition does not like it. This company will eventually be rewarded. Go JBI
There is a lot of money at stake here. Millions and millions of dollars. There are many that do not want this company to succeed. MANY. Right now it is a war. And the opposition will do what ever they think will work to destroy this company. You are right, it doesn't make sense, unless you see the whole picture. Don't underestimate the enemies of JBI. Time will disclose them. The technology is proven and it is an exciting breakthrough. On the economics side it is a supply shifter with a new source of fuel previously untapped. For that innovation this company will eventually be rewarded as was mentioned way back on the pitch. Don't be discouraged by the games that are being played. The technology works. Going Green, Go JBI
MONSTER NEWS!!! GO JBI!!!!!! Number 2 up and running. Going Green
MONSTER NEWS: JBI CONVERTS WASTE PLASTIC TO FUEL. That alone says it all. Go Green Go JBI
The day of small beginnings will soon be in the past! Thanks,Zardiw for all your hard work. You're going to have to steal BRIG_88's pic that shows two processors to add to you collection!
Nice Work!