says, "Companies that trade on the OTCBB will require Cash/Cheque. "
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So, you'd be happy if Postal got voting control
and pushed through a reverse split, and awarded insiders with liquidation preferences?
I wouldn't. To me, that spells doom for common shareholders.
I'd be curious to know who is actually buying today.
Since they are close to having absolute voting control, and their stated goal is to get absolute control, I have to believe it's Postal's group buying.
Once they get 50+%, look for major changes to be pushed through. Read the 13D to get a feel for where Postal wants to go.
Like Salve pointed out, don't forget what they tried to quietly pull two years ago.
They didn't have the votes then. They may soon have the votes.
New O/S : 661,760,532 shares as of October 11, 2013
Filing: http://www.sec.gov/Archives/edgar/data/814926/000093980213000163/schedule13d101113.htm
Mr. Postal and Ms. Postal also acquired the 64,000,000 shares from the Fisher’s to approve, with the votes of any members of Company management, any corporate actions that Mr. Postal, Ms. Postal and certain members of Company management who own shares of Common Stock. When and if Mr. Postal and Ms. Postal and the principal shareholders of the Company who are members of management decide to vote together on a corporate action proposal presented for shareholder vote or consent, they should have sufficient voting power to unilaterally or with the support of a few other shareholders of the Company to unilaterally approve or reject any corporate action presented for or requiring shareholder approval. Mr. Postal and Ms. Postal believe that the Company has too many shares of Common Stock issued and outstanding and that a reverse stock split, implemented at the appropriate time, would be potentially beneficial to achieving a more manageable and efficient public float for the Company’s Common Stock. The Reporting Persons lack sufficient voting power in the aggregate to approval any such corporate actions or recapitalization, absent the support of the other principal shareholders of the Company (being mostly senior officers and directors of the Company). Further, there is no assurance that a reverse stock split would prove to be beneficial to the Company or its shareholders in the short term or long term.
Mr. Postal and Ms. Postal believe that the Company has too many shares of Common Stock issued and outstanding and that a reverse stock split, implemented at the appropriate time, would be potentially beneficial to achieving a more manageable and efficient public float for the Company’s Common Stock. The Reporting Persons lack sufficient voting power in the aggregate to approval any such corporate actions or recapitalization, absent the support of the other principal shareholders of the Company (being mostly senior officers and directors of the Company). Further, there is no assurance that a reverse stock split would prove to be beneficial to the Company or its shareholders in the short term or long term.
The aggregate number of shares of Common Stock owned by the Reporting Persons after the acquisition under the SPA is 126,613,177 shares or approximately 19.1% of the issued and outstanding shares of Common Stock as of October 11, 2013 (based upon 661,760,531.99 shares of Common Stock issued and outstanding).
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That's a new O/S number.
If p3 is doing 15k$ a day
Then p3 is racking up ~ $15K a day in COGS.
Losin' money ain't much of a livin' /joseyP2Losses
Do you not believe the third half-kiln has solved the continuous pet-coke removal?
By their own documents, they can only off-load 70 lbs of petcoke per hour.
Not nearly enough to run continuously at claimed throughput rates.
perhaps you don't believe the SAI Corp audit?
If the SAIC audit pointed out the uptime problem and throughput problem, I'd like to see a link showing that.
Will 3Q show better than $2M (annualized) revenue?
That's only $500K. Your guess?
it's going to be an interesting 4th quarter
So, it's official: Pay no attention to 3rd quarter results. The real action is in 4Q (report due the end of March 2014).
Do I have that right?
And yet the company still keeps borrowing money to operate.
And laying off half its workforce.
And shutting down the Recycling Center (the only profitable line of business they've had so far).
And running Javaco and PakIt into the ground, leaving dozens of employees out in the cold.
And getting a lien slapped on them for $300K.
And getting sued by former partners. And former employees. And the SEC. And shareholders.
Yeah. Rosy situation.
Either JBII is bust in 5 years or wildly successful in 5 years.
Or they file for BK protection, and the loan becomes due via default.
About time for another Cost Reduction PR, right?
One in July, one in August, time for another. Maybe they'll announce they sold the old HQ in Thorold, and the blending plant.
Niagara is a research plant that can also do some prefabrication and testing of critical parts.
Where do they have space for that? Both buildings are fully occupied already. Not to mention, any construction seems to shut down all production, site-wide.
STEAL OUR EQUITY RIGHTS in the company
Already gone. JB has absolute voting control and the last PIPErs have $8.05M liquidation preference. Couple that with Heddle's $1M priority lien on ALL the assets (I'm lookin' at you, majic catalyst), and the $300K mechanic's lien, and you have no tangible equity rights here anymore.
The point is clear.
Keeping plastic as plastic keeps the carbon in plastic sequestered.
Pyrolyzing plastic to fuel and burning that fuel puts the carbon in the atmosphere.
Recycling plastic into new plastic products is greener than turning plastic into fuel.
Simple, Green.
http://www.terracycle.com/en-US/brigades/writing-instruments-brigade-r.html
Sharpie has been at this since 2010.
Plastic recycled to new plastic products; keeping that carbon sequestered.
Now, that's a Green program!
Seriously?
Yeah, seriously. A far greener move would be to recycle the plastic into something like plastic sidewalk pavers, like this program, funded by the NYS DEC:
http://videos.syracuse.com/post-standard/2012/07/ag_plastics_recycling_demonstr.html
Recycling plastics that could only be buried in landfills are now converted to useful fuel!
Taking sequestered carbon and re-releasing it into the air when the fuel is burned!
Wait til JBI gets hit with the coming Carbon Taxes! Yikes!
Sending Onondaga Ag Plastic to Indiana?!?
Say it ain't so! Program funded by NYS DEC???
http://videos.syracuse.com/post-standard/2012/07/ag_plastics_recycling_demonstr.html
Nah, I'm thinkin' this is about 300lbs worth
Now, they just have to get about 320 times that amount for one machine.
Each day.
Plus the low-paid yokels to unbox the ~10,000 FedEx boxes.
Each day. To feed one machine.
Too bad they got rid of the cardboard recycling center. There's Big Money in those 10,000 FedEx boxes per day!
Q3: $238,000 (thru 8-12). Total projected: $467,000
So, to recap, each machine does $10,000,000 per year in revenue.
But, 3 machines will do something less than $500,000 for one quarter.
What's wrong with this picture? Is JBI still profitable with 18 cents per share in earnings?
suggest that it was being filed anything but early.
I think Mr. Ingham could have filed that in the next Form 5 (gifts are subject to annual Form 5 disclosure, I believe).
So, in that view, it was 'early'.
§225-2.2 Definitions
(11) Waste Oil. Used and/or reprocessed engine lubricating oil and/or any other used oil, including but not limited to, fuel oil, engine oil, gear oil, cutting oil, transmission fluid, hydraulic fluid, dielectric fluid, oil storage tank residue, animal oil and vegetable oil, which has not subsequently been re-refined.
$479,000 in raw materials inventory at cost
A good question might be: Where are they keeping that much feedstock? Even at $600/ton, that's 800 tons. They don't have the permits anywhere for that much plastic.
40 Mills Street, you say
http://www.abbottwalsh.com/pages/aboutus.html
So remind me what's not working out?
COGS > Revenue in the latest report.
And that's before they started buying used oil to add to the mix.
Hasn't this Tired, 4 YEAR-OLD dead news been put to rest yet?
No, JBII still trades.
600,000 Gallons of Fuel since 2010!!!
That represents about 4 months of production of the original $80,000 machine, running at its claimed rates of 1 ton per hour.
Ahhh, Good Times!
Also, how about some updates re: Seneca v. JBI
I'd love to hear about which restricted holders couldn't get legal opinions versus those that could/did and were able to sell.
Should make for some verrrry interesting depositions!
Any updates on that JBI-Del v. JBI-NV law suit?
I can't wait for that one to get to depositions; I want to hear what happened to the 809K shares that JB gave to JB for the worthless data equipment.
Once we get the players on the record, it won't take a forensic investigator to find out where those shares ended up.
5 days of feedstock, if they manage to reach 70 Million used markers in a year.
Simple math.
And, they'd better stop storing the feedstock outside, like in that picture. The NYS DEC says that's a permit violation.
Now, how many drones will it take to empty 70,000 FedEx boxes so that they can realize 5 days of feedstock for the whole year?
70 million hopefully within a year!!!!!! That's a lot of feedstock
Yeah, a whole shirt-ton. Less than 5 days feed stock. Party Time!
So, they're back to storing feed stock outside again.
Does the DEC know?
And if that other document is correct, it was then assigned to Hyundai in Nov. 2008?!?
LEGAL EVENTS
Date Code Event Description
Nov 26, 2008 AS Assignment
Owner name: HYUNDAI MOTOR COMPANY, KOREA, REPUBLIC OF
Free format text: ASSIGNMENT OF ASSIGNORS INTEREST;ASSIGNOR:LEE, BYEONG JUN;REEL/FRAME:021899/0896
Effective date: 20080905
---
In any event, it is a Design patent, patenting the ornamental design.
They bought/paid for the molds for the STPTools products.
I think there was a write-off of the capitalized cost of those molds when STPTools was abandoned.
Did you see what was missing on that Form 4?
Any hint of the warrants he receives for providing the term sheet loan to JBI ($3 million in total).
He gets one warrant for each dollar he lends. The deadline is Aug. 31 for the first million to be lent.
It closed at .46 on 8/14/2013, the day the late 10Q was due.
Because of a glitch, the 10Q didn't get posted until the next day, when the stock opened at .46; it closed that day at .40, down 13% for the day.