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Prove it
Only one truck of fuel sold ya think, huh? Is that your assumption? Are you expecting a PR for each and every tanker?
This agreement?
The referring party would be paid a fee based on Plastic2Oil(TM) fuel produced from plastic feedstock which JBI is provided at no cost from the client. At this time no definitive agreement has been executed and it is possible that the Company and the other party may not finalize a definitive agreement.
As to "landing" the SSCC they have a facility in the neighborhood.
[NY] North Tonawanda
51 Robinson Street,
North Tonawanda,NY
USA-14120
716/692-6510
They are paying for the leads - it's in the 8K. Good business for SSCC - they make money for their customer list. JBI has sold ONE truck of fuel. JBI hasn't put processors anywhere except NF. As to who gave JBI the SSCC lead? Who cares. Maybe SSCC saw it as a possible revenue stream - can't hurt. If someone came to me and said I'll pay you if your customers let me put a processor on their property....regardless...why not? it's free money for me.
Prove this statement:
"We are being inundated with requests to put processors at high volume plastic sites."
~~John Bordynuik on BNN
"Need" leads my foot! Here's the elephant in the room for you that escaped you....
If the ridiculous and laughable theory was correct that they "need" leads from NYSE: SSCC instead of WANT the additional massive success....
Then who gave JBII the SSCC "lead" in the first place? How on God's green Earth did they land the $3.5 billion NYSE company in the first place if they "needed" a lead?
That's a rhetorical question. What you fail to realize is that if they "needed" leads they wouldn't have landed the $3.5 billion NYSE SSCC in the first place.
"We are being inundated with requests to put processors at high volume plastic sites."
~~John Bordynuik on BNN
And that's why they need leads from Smurfit-Stone!
and when does this one go to trial?
Why wasn't the up-listing ever finalized with Amex?
Thanks for asking...
Ran a search in the search box above and it points to the time period that this post refers to. At that time period JB even went to the Nasdaq/Amex Floor and visited via invitation with executives of both exchanges. Photos were avail too. Mr. Parker was handling IR at the time.
Rick-UK
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Thursday, January 28, 2010 4:05:23 PM
Re: None Post # of 109049
Communication from James Parker on exchange listing application:
Dear James,
On John Bordynuik's blog is an article published today which states that "JBI is currently applying for AMEX".
Can you confirm that JBI has commenced the application process for AMEX, and tell me how long this process is likely to take and if there is any other information pertinent to JBI listing on AMEX that might be interesting for JBI investors like myself to know? Are you looking to issue a press release about this?
Many thanks in advance,
Rick
----------------------
Rick,
He has made application to AMEX and NASDAQ - not sure of which outcome yet as JBI must meet their individual listing requirements. JB is trying to expedite the process but it can realistically take up to two months. JB knows how to execute, so hopefully uplisting time will be sooner rather than later. As always, John will do his best to make it "sooner". Thank you kindly for your support.
No press release on this topic will be issued unless and until JBI uplisting has been accepted and confirmed. John does not like to generate speculative enthusiasm before a material event is actually confirmed. He is very compliance-oriented, which is a good thing!
Regards,
James
---------------------
James,
Many thanks for your time. May I post this on iHub please?
Regards,
Rick
----------------------
Yes and thanks for asking.
James
I agree.
Until there are more sales, permit, etc.
But only yesterday 4 wasn't warranted...
3 bucks is CRAP?
.this move to 3 bucks is CRAP imo....this is NOTHING
BRIG_88
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Wednesday, May 11, 2011 11:55:11 AM
Re: jimmenknee post# 107806
Post # of 108902
Oh please....JBII had a huge run....got overbought on Sykes bs....came back down and is settling down.....volume is way off....it will find a home and then blow up again when the company closes another deal....lather rinse repeat as it goes to the moon with a technology no other company has....2 cycle "fade" in a pigs eye....it's been "fading" up since it bottomed at .51 last year
BRIG_88
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Tuesday, May 17, 2011 10:49:04 AM
Re: jimmenknee post# 108761
Post # of 108902
Nope. If that were true it would never have gotten out of the 1.00 range.....it had steady heavy accumulation starting from the .83 range with runs and small pull backs.....all the way to above 2 and then it got piled on....board marks started going up here....then the run to 4 that wasn't warranted....that was Timmy Sykes and the momo players.....now the stock has settled down again
Tour of Recycling & Waste Recovery Facilities, Niagara Falls Region
The Canadian Plastics Industry Association (CPIA) is the voice of the Canadian Plastics Industry.
Looks like a regional event.
In response to:
Where's Agilyx?
They already had their tour.
ASME Oregon Section Tour of Agilyx, Tigard, OR, Tuesday April 5, 2011
http://asmeoregon.wordpress.com/2011/03/30/asme-oregon-section-tour-of-agilyx-tigard-or-tuesday-april-5-2011/
Maybe they are bartering with Oxy. Fuel for Catalyst. Offsetting Purchase orders and invoices.
This was the JBI news/PR. Since OXY was listed in the JBI PR it it automatically shows up here:
http://www.otcmarkets.com/stock/OXY/news
It was not PR'd by OXY
OTC Disclosure & News Service
No news items have been posted for OXY...
THOROLD, Ontario, May 9, 2011 (GlobeNewswire via COMTEX) -- JBI, Inc. (the "Company" or "JBII") (OTCQX:JBII) announced today that Oxy Vinyl Canada, a wholly owned subsidiary of Occidental Petroleum (NYSE:OXY)....
SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright ? 2004-2011 Comtex News Network, Inc. All rights reserved.
-0-
INDUSTRY KEYWORD: Business Services
SUBJECT CODE: ENERGY
OIL
CONTRACTS
Business Contracts
Product Services Announcement
OxyVinyls makes catalysts. I wonder if this is the new catalyst supplier from the last 8K.
http://www.oxy.com/OurBusinesses/Chemicals/Products/Pages/OxyVinyls.aspx
Yes. 10Q due today.
Non-Accelerated Filers:
10-Q: for Quarterly Period Ended 03/31/11 due Monday, May 16, 2011
http://www.secfile.net/SEC_calendar.htm
Don't know if they are or aren't. Is SSCC client list posted anywhere?
Maybe a good company for processors. Does JBI have to pay Smurfit if they find their own locations?
PlastiCycle has offices in New York and Tennessee. We have warehouses in IL, OH, NY, TX and CA and are more than capable of offering service nationally with the same level of service. PlastiCycle's 50,000 square foot plant is located in Nashville, TN and serves the eastern and central U.S.
http://plasticycle.com/
How many of those processors are available to be set up? Where are the permitted locations for these easy-to-set-up processors? Just think of all of the plastic fringe from the Independence Day floats!
Do you think we might be setting up any of those easy-to-set-up processors by the time summer officially arrives in North America?
Listing requirement chart
http://www.venturelawcorp.com/listing_requirement_chart.htm
Multiple processors at the existing site? Or do you think they'll ship the 30T somewhere else? Can you clarify please.
I don't think you will see a second processor site in New York for a long time, it's nothing for companies to transport plastic to JBI now from outside New York and Ontario as it's still cheaper than paying tipping fees.
Summary of listing requirements for the different exchanges.
Real-Time OTC-BBO 3.06 x 3.08 (1000 x 3548)
Now AUTO has 10K at 3.25. 24K pulled?
The 10Q is due out Monday as well.
The 10K clearly lists the use of a catalyst. Not sure why both the yes and no were checked in the report.
http://www.sec.gov/Archives/edgar/data/1381105/000121390011002119/f10k2010_jbi.htm
Our P2O process converts plastic into fuel using a reusable, proprietary catalyst developed in part through our Data Recovery & Migration work. See “—Other Businesses—Data Recovery & Migration”. Our proprietary catalyst and automated P2O process enables the conversion of plastic to fuel with high efficiency. Approximately one litre of fuel is produced from every kilogram of plastic.
2. The P2O catalyst and process provide a highly efficient means of converting plastic into fuel.
Our proprietary P2O catalyst provides a highly efficient means of converting plastic into fuel. This is essential since the economic viability of the P2O process depends on it being both a cost-competitive means of disposing of waste plastic and an efficient and non-energy-intensive means of producing fuel. Approximately one litre of oil is produced from each kilogram of plastic waste. Our process involves minimal electricity to operate, and the energy balance of the P2O process is positive, meaning that more energy is produced than is consumed by the process.
There are various processes in existence for converting plastic and other hydrocarbon materials into products for use in the production of fuels, chemicals and recycled items. These processes include pyrolysis (conversion using dry materials at high pressure and temperature in the absence of oxygen), catalytic conversion (conversion using a catalyst for stimulating a chemical reaction), depolymerization (conversion using superheated water and high pressure and temperature) and gasification (conversion at high temperature using oxygen or steam). The Plastic2Oil conversion process is similar to pyrolysis, and involves the cracking of plastic hydrocarbon chains at ambient pressure and low temperature using a reusable catalyst.
The acquisition of Pak-It was driven by the Company’s desire to access Pak-It’s unique patents, and the fact that the Company could potentially utilize Pak-It’s chemical expertise to produce the proprietary P2O catalyst in-house. Additionally, the Company realized a considerable amount of business value was being lost due to inefficient internal controls and operating procedures due to Pak-It’s accounting system, various production processes, and an over extended product line.
The Company performed this test during 2010 and recorded an impairment loss of $3,079,790. The impairment loss is due to the Company changing its strategic direction for its subsidiaries, Pak-It and Javaco. The Company acquired Javaco primarily to set up a back-up operation facility in Mexico for its Plactic2Oil business and acquired Pak-It to utilize its employees’ chemical expertise to produce certain chemicals required for its Plactic2Oil business. The Company has found an alternative operation facility for Plastic2Oil activities and a third party supplier for proprietary catalyst at favorable price. Therefore, the Company changed its strategic direction for Pak-It and Javaco
Good find. The report shows at least 23 companies working on PTF conversion including JBI. What do you think are the most important issues? The race to commercialization? Locking up feedstock agreements? Funding? Who is currently in the lead and why?
Good question. To meet the demands of the LOI they need 11 20T processors according to this post:
ichjw Member Profile ichjw Share Thursday, May 12, 2011 1:55:28 AM
Re: Sexual Healing post# 107920 Post # of 107952
Another way to look at the naphtha deal.
The process can be adjusted to put out 60% fuel oil
and 40% naphtha.
144000 gal = 3428/ 42gal barrels.
3428barrels = 40% of 8333 barrels of 60/40 output.
If the output of the 20t unit is 109 b/day.
Then 109/8333 = 76.45 days or 11 20t processors to
output the 144000 gal/7 day week.
But remember it stated up to that amount.
The question is are more processors being built and where are they putting them? Does JBI have a facility large enough for 20 processors to satisfy the Naptha LOI?
20T Processor
1 kg plastic = 1 liter of fuel - from the Plastic2Oil website
Feedstock Product
kg/hr lb/hr liter fuel gallons barrels
Per hour 816.47 1,800.00 816.47 215.69 5.14
Per day 19,595.18 43,200.00 19,595.18 5,176.49 123.25
Per week 137,166.29 302,400.00 137,166.29 36,235.42 862.75
Per month 587,855.52 1,296,000.00 587,855.52 155,294.64 3,697.49
Odd. It has a different permit ID. There are now three listed for JBI Re #1 Inc.
http://www.dec.ny.gov/cfmx/extapps/envapps/index.cfm?district_id=626391&county_swis_code=29&stimulus=0
Facility: Jbi Re #1 Inc Place Name: Niagara Falls
Applicant: Bioconvergence Inc App. Type: New
Permit Type: Air Facility Registration Receipt Date: 05/29/2002
Status: Expired Stimulus: No
Description:
Other Known IDs: None
Facility: Jbi Re #1 Inc Place Name: Niagara Falls
Applicant: Jbi Re #1 Inc App. Type: New
Permit Type: Air State Facility Receipt Date: 11/12/2010
Status: Suspended to a Date Stimulus: No
Description: new Solid Waste Permit
Other Known IDs: None
Facility: Jbi Re #1 Inc Place Name: Niagara Falls
Applicant: Jbi Re #1 Inc App. Type: New
Permit Type: Solid Waste Management Receipt Date: 11/12/2010
Status: Completeness Determination Due Stimulus: No
Description: new Solid Waste Permit
Other Known IDs: None
The PO called for 5/9. Shouldn't have been a problem since they filled the tanker during the BNN show per John.
http://www.sec.gov/Archives/edgar/data/1381105/000121390011002380/f8kjbi1.gif
Protective order?
I'm excited about the first sale of fuel but I don't find the delivery information on your link. This is what I could find from your link. Am I missing something?
http://plastic2oil.com/investor-relations/faq.aspx
Does JBI currently have customers?
Yes, JBI has many customers in its various divisions. Revenue is being generated from products and services from Pak-It, JAVACO and its Data Recovery & Management businesses. During 2010 the Company transitioned to an alternative oil and gas company. The Plastic2Oil division received a Consent Order from the NYSDEC in December 2010 to begin operating commercially, and in early May 2011 the Company made its first sale of fuel from our proprietary P2O process.
I hope so. Could the purchase order they received have been part of the Naptha LOI? They do mention similarity to #2 in the PR.
In addition, JBI is pleased to announce the signing of a letter of intent with a confidential party for the purchase of the naphtha produced from the Company's Plastic2Oil process. The term "naphtha" is used when fuel does not contain additives required for gasoline used as transportation fuel. This is very similar to the relationship between fuel oil #2 and diesel fuel. When road-use additives are not present, the petroleum product is referred to as fuel oil #2 and conversely, when road-use additives are present, the product is termed diesel. The confidential party named in the letter of intent has the capacity and interest to purchase up to approximately 144,000 gallons of naphtha per week, as it is available from JBI, Inc., at comparable market rates for such naphtha - rates that fluctuate similar to any other commodity. The Company and the confidential party expect to consummate their naphtha sale agreements in April 2011.
http://www.plastic2oil.com/news/2011-press-releases/20110316-jbi,-inc-shareholder-update-on-business-activities.aspx
Looking at the 144,000 gallons per week from the Naptha LOI PR. IMO they can't do that with one 20T processor and have additional sales. Even if they had permission to run and sell fuel from the 30T they would have a hard time meeting that demand.
20T Processor operating 7 days a week/24 hours a day.
gallons
Per hour 215.69
Per day 5,176.49
Per week 36,235.42
Per month 155,294.64
If my math is off, I've only had one cup of coffee.
http://www.plastic2oil.com/news/2011-press-releases/20110316-jbi,-inc-shareholder-update-on-business-activities.aspx
In addition, JBI is pleased to announce the signing of a letter of intent with a confidential party for the purchase of the naphtha produced from the Company's Plastic2Oil process. The term "naphtha" is used when fuel does not contain additives required for gasoline used as transportation fuel. This is very similar to the relationship between fuel oil #2 and diesel fuel. When road-use additives are not present, the petroleum product is referred to as fuel oil #2 and conversely, when road-use additives are present, the product is termed diesel. The confidential party named in the letter of intent has the capacity and interest to purchase up to approximately 144,000 gallons of naphtha per week, as it is available from JBI, Inc., at comparable market rates for such naphtha - rates that fluctuate similar to any other commodity. The Company and the confidential party expect to consummate their naphtha sale agreements in April 2011.
It's possible from the 20T processor. It's too early for math.. can they can fill the Naptha LOI with one operating unit and have other sales?
They can't operate or sell fuel from the 30T unit until sometime in June per the NY DEC consent order.
I'm not very good with math, but did that PR say 214 barrels? I thought so.
Now what is 109 X 2,...is it 218? Hmmm, thought so.
So that sale is not even 2 days of run time on the 20T processor? I thought we had a 30T machine as well,...thought so.
All those who think they have a bigger fuel sale announcement coming this month, please raise your hand.
[url]www.sec.gov/Archives/edgar/data/1381105/000121390010005243/f8k121510ex99ii_jbi.htm
[/url]
8. The Respondent desires to enter into the within Order with the Department for the purpose of obtaining temporary authority to operate a solid waste management facility and continuing temporary authority to commercially operate one pyrolysis unit at the Facility, to construct an additional pyrolysis unit at the Facility; to sell fuel generated by the first unit; to apply for a Part 360 Permit; and for the implementation of a Schedule of Compliance to facilitate the permitting process and to address operational and record keeping requirements that may affect the operations and activities at the Site. Respondent shall comply with all applicable solid waste laws, Article 27 of the ECL, and its implementing regulations found in 6 NYCRR Part 360, and comply with all applicable air pollution control laws, Article 19 of the ECL and its implementing regulations found in 6 NYCRR Part 200.
Heating Oil Prices(last week).
http://www.bloomberg.com/news/2011-05-04/crude-gasoline-heating-oil-slip-for-third-day-oil-products.html
Pesky verb tenses. Thank you for clearing that up.
JBI have a draft permit that allows them to operate the one processor. The newer air permit allows them to operate several processors at the same site.
They have a draft permit that allows them to operate one processor, the newer air permit will allow them to operate several processors. In the context of the post I thought it was clear, is this better?
Can you show me the link for the newer air permit allowing them to operate several processors at the same site? I can't find it anywhere.
The permits have been turned into something that they are not, they are minor. JBI have a draft permit that allows them to operate the one processor. The newer air permit allows them to operate several processors at the same site. The solid waste permit may allow them to use more plastic feedstock but that's all. It has no impact on current production. In my opinion the biggest reason for delays are accountants and lawyers.
First and Only Viable Process?
Even the 10K seems to dispute that.
Moreover, others may independently develop and obtain patents for technologies that are similar to, or superior to, our technologies or processes.
Page 28
http://www.sec.gov/Archives/edgar/data/1381105/000121390011002119/f10k2010_jbi.htm
Odd that the data patent isn't mentioned again when they are discussing protecting intellectual property in the 10K yet they talk about the Pak-It patents.
Our ability to compete may decline if we do not adequately protect our intellectual property or if we lose some of our intellectual property rights through costly litigation or administrative proceedings.
We hold two U.S. patents relating to the Pak-It delivery method. We are currently working on submitting several aspects of both our P2O processor and the P2O process itself for patent protection. However, all patents expire, and any patent will only provide us commercial advantage for a limited period of time, if at all. We intend to continue to apply for patents relating to our technologies, methods and products, as we deem appropriate.
We may fail to apply for patents on important technologies, methods or products in a timely fashion, or at all.
Page 27 and 28
http://www.sec.gov/Archives/edgar/data/1381105/000121390011002119/f10k2010_jbi.htm
Has the Naptha deal closed? Permits? Any fuel sales?