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This kind of incompetence has been a hallmark of JBI since inception
so it seems, just yesterday I was discussing checks and balances.....it's kind of amazing to me that such an important annual document was filed so haphazardly.....JBI's 2012 Annual Facility Report to the DEC....not exactly trivial!!!
so, if someone was the get a letter, contract, whatever, with the JBI name, logo, address, phone number, etc....how is one to KNOW which Co it is REALLY from???
PS: this letter also had the STOCK TICKER JBII on it.....at the bottom of the "letterhead".....
yeah, maybe it's time to get some new "letterhead" made.....
just letterheadin'.......
it was a bit more than 6 months ago!!!!!
Bordynuik stepped down from his officer and director positions with the company in May 2012 and currently serves as its chief of technology, a non-officer position, said JBI.
http://www.jaxdailyrecord.com/showstory.php?Story_id=538631
what????......"they" more than doubled the shares in a bit over 6 months???
Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.
As of September 13, 2012 we had 264,402,076 shares of common stock issued and outstanding.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8906505
What does JBII do with unwanted, unsorted and dirty plastic?
I give up.....give kids blow dryers????
John was likely out and Kevin not on the floor when tony decided to pull that unbelievable boner
I missed the part where all this was stated as fact by the Co.....is there any link or source, or is this another one of those MB things that are being assumed, and then take on a factual life of their own????
this is ALL I saw mentioned in the CC, no names were named for the responsibility of the "boner":
Subsequently, weather-related issues that caused high amounts of water to enter our plastic storage system made processing of this excess inventory difficult during the Q1 2013. Therefore, our feed rates and fuel production levels suffered in that period, resulting in revenues for the first quarter that will be lower than revenues for Q4 2012. We have fixed these issues and do not foresee a repeat of this situation in the future.
my opinion is mostly based on the simple fact that they didn't file the 10-Q......
anyone can make allegations in a lawsuit......maybe some of the rebuttals about Geo are true, who knows.....but for a public Co, it's the periodic filings that bring legitimacy......you don't just stop filing them because someone said bad stuff about you.....
would not filing the 10-Q be the best possible "rebuttal"????
give us a 10-Q to critique, with binding signatures, that the info given in it is true to the best of their knowledge, all that......not a he said - she said lawsuit......
PS: I surely have NOT been saying what you claim I have....I am absolutely sure of nothing.....but the market seems to not like things so far.....
please tell me what doesn't add up and why you're so absolutely sure this is a scam and have been asserting that continually since the report became public, tia.
of course there are ways to do it.......but up to this point it was never thought to be a possible issue????
water is pretty common on planet Earth, last I knew.....
bring on Generation 6......
I'll tell ya why stupid shit like the coo putting wet plastic in the processor.
so, nobody else noticed the feedstock was wet????.....it's up to one guy, who is not even there full time????
unbelievable......even in high school shop class we needed to use the "buddy system" to ensure nobody fired damp ceramics in the kiln!!!! (or they could "explode")....after they came out of the molds, sat a few days, several people (teenagers!!) had to put the stupid things to their cheek before they could be fired....and freaking sign they had done it!!!! anyone else here remember learning such basics????...holy shit, even in high school we had more accountability than the clowns tick-tocking the money away here!!!......you could fail shop class if the teacher found you had not been sure your crap was dry, since it was a danger....but a simple procedure of the same concept does not exist when millions of dollars are on the line????.....
great checks and balances.....
BTW, who had the bright idea to hire a CEO who has to commute from St Louis???
PS: so much for those Pacific Garbage Patch ships.....I think the plastic in the ocean might be a tad wet.......BS from page one, almost....
too bad it wasn't a video CC, we could have watched for facial twitches and such......
OK, I was wondering where that came from, since most boots to the Greys that I have seen happen from SEC suspensions, after the 10 day period is up....
still Grey:
http://www.otcmarkets.com/stock/LPIH/quote
Just looking at the facts , they will trade OTCBB after April 1st there is more visibility there than grey markets.
PS: where did the scuttlebutt come from that LPIH would be off the Greys???....what "facts" support this?????.....more than one poster said it, but I don't see how this was determined (???)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=86093794
.....after April 1st when it's listed on the OTCBB
ragger tail
Composition
shredded plastic trimmings, metal wire, staples
Properties
moist
fluffy and sludgy
knotty
http://virginiawoodflows.wordpress.com/products-and-by-products/by-products/ragger-tail/
Also, as Tony mentioned, we’ve have been working on a number of improvements to the business, including an organizational audit for the production staff of the plant, which will be the foundation for future growth. It’s been very exciting and we are confident in the plan that has evolved.
is this JB-speak for firing people????
yeah, no kidding.....that's why a contract should have HAD penalty clauses....WTF????......they put out orders for custom fabrications, with future Co viability heavenly depending on it, but DIDN'T have penalty clauses????....what a half-assed operation this is turning out to be......excuse after excuse, it's so old at this point....
what's the rush anymore, right?????.....another quarter, another paycheck.....but hey, they learned to do it right next time!!!!!.....maybe some raises are in order......
PS: here's an idea......their agreements to produce parts don't have tight clauses on both sides, such as certain monies due at certain stages of the contract being filled.....just a guess, but it would not suprise me with this loosely run entity......pay at will, get parts when needed (or not), blame the supplier as needed (since they are unknown).....excuses custom made, literally!!!!
think about THAT...... because the common denominator is always something else.....sure it is.....
wow, they came up with the concept of a penalty clause......how original......
some sharp management there.....too bad shareholders could not put penalty clauses on salaries of the clowns running the Co
TICK TOCK.......
nice to see them putting $$ penalties on the contractors in the future
watch the 2013 Candidates Tournament, on live NOW:
http://london2013.fide.com/index.php
nice try, but not yet:
http://bit.ly/17660e6
http://bit.ly/1766fWt
PS: sooner or later it will appear, though.........
Use Google much?, EXACTLY THE POINT....and key words would have never accidentally discovered the paper that quick, unless one was directed, IMO.....remember, Google takes TIME for something to accumulate links to it, or be crawled, which is how it gets found in a search!!!!!
http://bit.ly/1764lVY
http://bit.ly/1765jkX
Note that the above links as of now do not show the paper....maybe in a few more days, who knows...
so not only did the person have to find it via the search engine, the search engine had to "find" it FIRST.....
unless directed to it, which is why I say "what are the odds"???
lol, and it appears on THIS board the day after??......(actually, like 17 HOURS later....LESS than a day!!!).....
what are the odds????....this was a random find?????....sure, OK.....
Created: 3/27/2013 8:43:37PM
Author: Demetra Tsiamis
http://www.seas.columbia.edu/earth/wtert/sofos/ms_thesis/Demetra%20T_Thesis%20Final%20Rev%20for%20publication_March%2016.pdf
posted HERE:
March 28, 2013 2:01:25 PM
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=86226194
thank goodness the paper does not sound like an endorsement of one process over another!!!!!
JBI Inc. takes pride in being able to maintain a continuous feed rate to the pre-melt tank.
seriously, what is THAT doing in a thesis paper????
If there is hydrogen in the off gas that means that the hydrogen has has had long contact time with the gases that are condensed out to become the various fuels.
it has????.....how long is "long contact time" when "the beast" is running at full speed????
maybe we have stumbled upon another reason why the process seems to have difficulty running full bore....
PS: source of this information???...
OK, but from what I have read of other ULSD processes, they often add hydrogen.....but maybe what JBII does is a bit different, due to the coke "sacrifice".....
....whether the refinery can revamp an
existing hydrotreater or must build a new one; and the
cost for catalyst, hydrogen, and other requirements to
produce the ULSD.
ULSD production requires added hydrogen usage in the
distillate hydrotreater, thereby increasing hydrogen
consumption per unit of distillate feed
etc, etc.....
http://www.eia.gov/oiaf/servicerpt/ulsd/pdf/appendix_d.pdf
I thought the hydrogen ended up in the off-gas, but maybe it's some here, some there......
JBI Inc. employs in-situ hydrogenation in the pyrolysis reactor to assure that the final fuel products don’t contain any alkenes and are consequently in-spec.
so, as suspected, they do need to add hydrogen......
http://www.seas.columbia.edu/earth/wtert/sofos/ms_thesis/Demetra%20T_Thesis%20Final%20Rev%20for%20publication_March%2016.pdf
yeah, that, or adding an arrow showing water out from the oil/water coalescer might make one wonder about the claim of "no wastewater"....so it's poorly drawn for a thesis paper claiming no wastewater, and that's that....a thesis should back up its statements, not leave more questions open by omitting a key point....
BTW, where DOES that water end up?????....does it require further treatment???.....or is it clean enough to go down the drain as is???
amazingly, the paper ignores this water output, as far as I see it.....maybe it becomes somebody else's problem in the "further blending" phase????
(and maybe that's why they get so little for naphtha....)
that may be true, but common sense would also dictate that the fact an oil/water separator exists in the process means that there is indeed water in contact with the process that needs to be dealt with, sans cooling tower......
also, as the Co has mentioned, there is a water-seal, so it seems safe to assume there is some wastewater produced in the process.....
the author of the paper seems to cherry-pick the fact that since the water tower is a closed system, the process has no wastewater.....and also makes a poorly drawn process flow chart, up for interpretation, since it does NOT show where the coalescer water ends up.....
since the paper seems riddled with contradictions, it would not seem to be such a difficult task......
The cooling water runs in a closed loop and is never in contact with the chemicals in the process.
vs a process flow diagram that shows an oil/water coalescer output arrow flowing into the cooling tower!!!!
great job there.....and no mention of all about the water seal....
I also wonder why the "oil/water coalescer" is shown going into the cooling tower in the process flow chart????
PS: another link
http://www.seas.columbia.edu/earth/wtert/sofos/WTERT2012/proceedings/wtert2012/posters/Tsiamis%20Demetra.pdf
Although the P2O process uses cooling water for the equipment, no wastewater is generated. The
cooling water runs in a closed loop and is never in contact with the chemicals in the process.
what about the so-called water seal????....does that not come in contact with chemicals during the process???
PS:
The final products of the P2O process are collected from the reactor towers, cooled, and sent for
storage. Prior to storage, naphtha is passed through an oil/water coalescer to knock out any additional water
still in the product.
is the water "knocked out" considered "wastewater"????
http://www.highlandtank.com/NewsData/106_File1.pdf
Fundamentally, water is a great solvent. Contrary to popular belief, oil and water do mix.
Low concentrations (1 ppb to 100 ppm) of crude oil components mix or emulsify very
well with water. In fact, benzene, toluene, ethylbenzene and xylene (BTEX) are slightly
soluble in water and show up in laboratory analysis as components of chemical oxygen
demand (COD), biological oxygen demand (BOD), total petroleum hydrocarbon (TPH),
polyaromatic hydrocarbon (PAH) and total organic carbon (TOC).
Totally removing oily hydrocarbons from water generally requires a slow, sophisticated
system with a large footprint. Furthermore, these and other petroleum-based compounds
are the chemical components notorious for contaminating, choking and clogging
conventional filtration, secondary treatment and polishing technologies. Clay, carbon and
other traditional absorbents are susceptible to clogging, channeling and desorption when
exposed to oily compounds and solvents. Channeling causes premature breakthrough and
cripples efficiency because only a fraction of the absorbent capacity is exposed to the
contaminants.
JBI Inc. takes pride in being able to maintain a continuous feed rate to the pre-melt tank.
http://www.seas.columbia.edu/earth/wtert/sofos/ms_thesis/Demetra%20T_Thesis%20Final%20Rev%20for%20publication_March%2016.pdf
probably fat finger trade that should have been .085, etc......welcome to the Greys!!!!!
There should be laws against trying to scam people by creating and sharing false information.
I thought there were!!!!!
BUMP!!!!
OK, so sometimes it's like a year!!!.....and I think at least one of those cases was eventually dismissed....
I still don't see why the Co allowed themselves to be delisted if all was well......they can bitch about Geo, but in the end it was the Co's job to stay compliant....that is what they get paid to do, not to crumple at allegations!!!!.....
also, why are they not suing the people who did that Chinese TV report??.....didn't they say similar things as Geo???
PS: to reapply for listing, they will also now need a much higher share price, no????
they should read this message board, we seemed to know it easily enough!!!!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=85957658
http://investorshub.advfn.com/boards/replies.aspx?msg=85967705
http://www.otcbb.com/asp/dailylist_detail.asp?d=3/21/2013&mkt_ctg=ALL
etc, etc, etc.....
If LPH were to successfully jump through the NYSE hoops in order to maintain their listing on the stock exchange would that help shareholders?
of course it would have.....but instead of filing a 10-Q, and responding to the exchange with immediate results and transparency, there is now a lawsuit that will probably drag out for years.....this is a GOOD CHOICE????
BTW, why could they not do BOTH if everything was fine????....I don't see many reputable Cos being delisted because of some mystery lawsuit strategy they keep to themselves, while also killing their PPS......Newsflash, instead, they would sue those who they think damaged them, and stay current on their filings, while satisfying the exchange concerns........ why was that so hard???
also, staying compliant would have taken some ammo out of any possible lawsuit against the Co.....instead, they fueled the fire against themselves....
PS: it's no longer LPH, the ticker is LPIH now......that's another consequence of the Co not adhering to the exchange requirements....
do you think this lawsuit is important to shareholders, whose share price is now crushed???
if it is, where is the 8-K for it, which should be due in 4 business days of the lawsuit being filed????
True they act on their own schedule in these matters
a listed Co does not get to file or respond at their convenience....thus the delisting....
seriously, if everything was kosher, why they they not file the 10-Q???....why the resignations???....why did they not supply the requested info to the exchange???
that simple *pattern* is clearly stated in the filing:
Additionally, during September and October 2012, we processed a significant amount of heat transfer fluid that we were able to secure in large volumes and allowed us to increase maximize our processor up-time during this period. We received the necessary approvals to perform a trial in which we processed plastic with heat transfer fluid to ensure that our testing and assumptions regarding this were accurate. These assumptions were confirmed during our stack test in December 2012.
.....
The negative gross profit related to our fuel sales of $62,397 is due primarily to the processing of a significant amount of heat transfer fluid that we were able to secure in large volumes and allowed us to maximize our processor up-time and revenues primarily in September and October 2012. Management believes this was an important and necessary step to provide us with key production data as we continue to enhance our production roll-out strategies. Our long term strategy regarding this material is to identify sources and channels at a significantly lower cost than we paid during this time period, in order to not only maximize revenues and processor up-time, but also to maximize our gross profit. Additionally, with the increase in plastic to be processed both at our recycling facility and at our Niagara Falls facility in late 2012, we experienced some challenges in logistics, processing times and storage while managing the increase in volumes of plastic to be processed.