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Incorrect.
Signing off for now, but I'm sure others will have great rebuttals to your drivel.....et dip
Hard to believe that the same company that releases an 8k saying they have to restate financials would release a completely erroneous report about the capablities of their plastic-to-oil process.
Conveniently busy.
Nice catch bull. Gotta keep these guys honest!
If you don't believe the report, why did you go so silent when it was released April 13? You didn't post for a month after, conveniently when the stock price starting retracting some.
http://investorshub.advfn.com/boards/profile.asp?user=106400&PrevStart=50427292
What thermodynamics laws are you referring to?
Two posts ago, you said you were neutral...it sounds like you are not?!?!
However, this should answer your question. From the CEO:
A "positive net energy balance" does NOT mean we consume 1 barrel for every two we produce. I was going to explain what is scientifically meant by "the positive net energy balance" yesterday but I believed some fools would actually think either: "perpetual motion" or "2 at the high cost of 1 barrel" which would then give skeptics and ... See Moreinvestors an idea of who really knows what they are talking about and those that don't. The energy conversion of our process shocked islechem actually. If our net energy balance was highly negative then it would not be worth processing plastic (like our competitors). Our process consumes approx. 4000 BTU of heat (off gas) to convert 1kg of plastic into approx. (0.9046kg) 44,000 BTU of fuel. The positive net energy balance means we get twice the energy out of the fuel than we get in the combination of: (energy in the plastic feedstock plus energy used to convert to fuel). This is independent of the price/barrel because in most cases we get the source energy (that is feedstock) for nothing or paid to accept (tip fee).Therefore, we are not paying for that energy. The off-gas comes from the feedstock. We actually have a surplus of natural gas so we will pipe it to a generator.
This is all you need to know:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=50546726
So you think he gave the PIPE investors the bad news, but they still bought $4.0 shares when it was at $5?
I would assume it has to do with when and how (and how much) we can realize revenue from the 45 contracts with Sousa.
I agree...one PR and I guarantee we hit 5's. The thing will grow like a viagra-ed out beanstock.
Hmmm...I wonder what our CEO thinks our MINIMUM valuation is? And is a permit a done deal????
3. COMPENSATION.
(a) Base Salary. In consideration of the services to be rendered hereunder, the Company hereby agrees to pay the Executive an annual base salary of $180,000, commencing the date the Company receives full DEC approval, payable in equal semimonthly installments in accordance with the usual practice of the Company (the “Base Salary”). The Base Salary shall be subject to an annual review by the Board and may be renegotiated based on criteria to be determined by the Board. The Executive will be responsible for his own income tax payable to relevant federal and state authorities in the United States. The Executive's Base Salary shall be subject to annual review by the Board (or a committee thereof).
(b) Stock Options. Subject to the terms and conditions provided in this Agreement, the Company agrees to grant the Executive stock options to purchase a maximum of 250,000 shares of the common stock of the Company in the following manner.
1. The first tranche of 100,000 options at an exercisable at a price of $4.89 and become fully vested on the Effective Date.
2. The second tranche of 75,000 options carrying an exercise price of $4.89, and vesting upon the completion of 5 fully operational Plastic 2 Oil (“P2O”) processors.
3. The third tranche of 75,000 options carrying an exercise price of $4.89, and vesting when the Company’s market capitalization exceeds $500,000,000 as determined by the Company’s independent accounting firm.
If you're buying the JBII balance sheet as is, bash away....I won't be listening though as that is not why i've purchased.
3. COMPENSATION.
(a) Base Salary. In consideration of the services to be rendered hereunder, the Company hereby agrees to pay the Executive an annual base salary of $180,000, commencing the date the Company receives full DEC approval, payable in equal semimonthly installments in accordance with the usual practice of the Company (the “Base Salary”). The Base Salary shall be subject to an annual review by the Board and may be renegotiated based on criteria to be determined by the Board. The Executive will be responsible for his own income tax payable to relevant federal and state authorities in the United States. The Executive's Base Salary shall be subject to annual review by the Board (or a committee thereof).
(b) Stock Options. Subject to the terms and conditions provided in this Agreement, the Company agrees to grant the Executive stock options to purchase a maximum of 250,000 shares of the common stock of the Company in the following manner.
1. The first tranche of 100,000 options at an exercisable at a price of $4.89 and become fully vested on the Effective Date.
2. The second tranche of 75,000 options carrying an exercise price of $4.89, and vesting upon the completion of 5 fully operational Plastic 2 Oil (“P2O”) processors.
3. The third tranche of 75,000 options carrying an exercise price of $4.89, and vesting when the Company’s market capitalization exceeds $500,000,000 as determined by the Company’s independent accounting firm.
Item 1.01 Entry Into a Material Definitive Agreement
On May 19, 2010, JBI, Inc. (the “Company”) announced that the Company has entered into an employment agreement (the Agreement”) with John Bordynuik the Company’s President and Chief Executive Officer. The Agreement was approved by the Company’s compensation committee.
The Agreement has a five year term and may be extended upon the mutual agreement of the Company and Mr. Bordynuik. Pursuant to the Agreement, Mr. Bordynuik will be paid an annual salary of $180,000, which shall commence upon issuance of a production permit for the Company’s first Plastic2Oil processor. In addition, Mr. Bordynuik has been granted option awards which vest and are contingent upon specific milestone achievements of the Company.
The foregoing description of the Agreement is not intended to be complete and is qualified in its entirety by the complete text of the Agreements attached as exhibits to this Current Report on Form 8-K.
Why and how would they?
John has mentioned this already.
Each processor will be equiped to technology to monitor all of that. Should the processor be stopped or tampered with, it will notify the company and proper precautions and measures will be taken with that JV.
I believe Javaco was able to help with this technology. Those that went to the AGM can better answer, however.
The company cannot manipulate the shareprice like that, it's illegal and works against the company in the long run. You have to determine if the value of the company is greater or less than $1.6/share. I know BOTH what I think AND what the answer actually is. It's pretty clear....
Feel free to find the bottom, but nobody can claim to know how to do that. If they could, they wouldn't be posting on this board...
Nothing has changed with the business plan and future since the $7.00. We are victims of a huge overreaction and shorting/bid whacking. Every exponential decline has an even more aggressive increase or else shorters lose their shirts.
And don't believe him about the catalyst. It is protected appropriately...the CEO has mentioned this several times. It is ours, has been validated, works, and so does p20 (patented).
But keep in mind, an uplist gets us right back to $5, easily. Amex is no problem, we are shooting for the moon however.
Rather than spouting off about PPS, poke holes in JB's plan. What issues do you see? OTHER THAN DELAYS which are out of his hands....what have we not executed on in the business plan?
I am long on p20, that is all.
Down 60% in 5 days on no news....
Overreaction much?
Buy another button if you sell.
There is no material change in the valuation of the media credits...that is per the 8k....the same 8k you are trying to use against JBII.
You can't have your cake and eat it too.
Media credits are an asset paid in full. There is no disputing that JBII bought those assets and have those credits.
A $4.00 PIPE tells me this thing is about to take off. Why would informed, private investors buy at a premium?
One thing is for sure, we can guarantee that this is not a pump and dump with all of these updates - new auditor and declaring their financials were incorrect and that they will update them appropriately.
So, we can dismiss that.
Get your cheap shares ASAP as I guarantee a rebound today - wearing my underwear inside-out for a rally! Last time I did that, I caught a 148 pound channel catfish.
John Bordynuik:
I wish I could comment specifically so I'll comment generically on the uplist process. A consultant would advise you to release as little news as possible and keep new material information to a minimum as every change generally causes more questions from an exchange. An exchange sends comments to the company to seek information about various filings or company data.
Have you not been listening to all the news lately? C-level salaries/incentives are a huge consideration of auditing financials...AND likely the uplisting procedure now.
Let's look at the positive: When we finally uplist, we're not at all time highs. If we uplisted at this price, it would be like jumping into a sea of barracudas having wrapped ourselves in bacon and blood.
What are you suggesting? A filing that says "we're close to the permit guys"?
Ludacris.
I'm adding, what's your point?
(b) Stock Options. Subject to the terms and conditions provided in this Agreement, the Company agrees to grant the Executive stock options to purchase a maximum of 250,000 shares of the common stock of the Company in the following manner.
1. The first tranche of 100,000 options at an exercisable at a price of $4.89 and become fully vested on the Effective Date.
2. The second tranche of 75,000 options carrying an exercise price of $4.89, and vesting upon the completion of 5 fully operational Plastic 2 Oil (“P2O”) processors.
3. The third tranche of 75,000 options carrying an exercise price of $4.89, and vesting when the Company’s market capitalization exceeds $500,000,000 as determined by the Company’s independent accounting firm.
Here comes the bounce...
The OTC is a joke....we can't get off it fast enough.
Whoops, that is what I meant.