Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Hard to say. I'd read the filings or call this guy from the "Leadership Team" and ask why the website is so out of date.
Mr. Ray Spagnoli is a principal founder and past President and Chairman of CRS, Inc., Newburgh, NY, a manufacturer of proprietary inventory control and point of sale software and distributor of computer equipment. Mr. Spagnoli presently consults for CRS, Inc.
Website was last updated in 2009.
Most recent press release listed on the site is from 2007.
Marketplace/e-commerce site has been "under development" since at least 2009.
Careers could have been from 2 years ago as well. http://www.rmsmedicalproducts.com/Careers.htm
JMO
JBII LANDS FUEL BUYER -- up to 144,000 gallons (or 3,429 barrels) per week. I'm seeing this all over the place!!
"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
It's April. Any word on the buyer of the Naptha?
A letter of intent is generally an agreement to agree. It outlines the terms between parties who have not formalized an agreement into a contract. Letters of intent are generally not binding and unenforceable. Such letters indicate an intention to do something at a later date. They may also be called statements of purpose.
Hmm...Strange. All of the other officers are on the board.
Could have been that awesome Pac-it campaign last year.
True. But he's not on any board.
http://www.plastic2oil.com
Investor Relations
Audit Committee Charter
Recommend Auditor
The Audit Committee must recommend to the Board the external auditor to be nominated (subject to shareholder approval) for the purpose of preparing of the issuing of an auditor’s report or performing other audit, review or attest services for the Company and the compensation of the external auditor.
http://www.plastic2oil.com/media/40271
/audit%20committee%20charter.pdf
JBI has appointed John Bordynuik (CEO), Dr. Jacob Smith (COO), John Wesson (Independent), Dr. Robin Bagai (Independent), and James Fairbairn (independent) to the Board of Directors. The Board's Committee Chairs are listed below.
Audit Committee: James Fairbairn
Compensation Committee: John Wesson
Nominating Committee: Dr. Robin Bagai
Where is Ron Baldwin the CFO? Why isn't he part of this group?
Racketeering? What did he do? I looked up the definition. How does the new lawsuit differ? Fraudulent transfer?
Racketeering activity under federal law includes a number of criminal offenses, including: Bribery; sports bribery; counterfeiting; felony theft from interstate shipment; Embezzlement from Pension and Welfare funds; extortionate credit transactions; Fraud relating to identification documents; fraud relating to access devices; transmission of gambling information; Mail Fraud; wire fraud; financial institution fraud; citizenship or naturalization fraud; obscene matter; Obstruction of Justice; obstruction of criminal investigation; obstruction of state or local law enforcement; witness tampering; retaliation against witness; interference with commerce, bribery, or extortion; interstate transportation in aid of racketeering; interstate transportation of wagering paraphernalia; unlawful welfare fund payments; prohibition of illegal gambling business; Money Laundering; monetary transactions in property derived from unlawful activities; murder for hire; sexual exploitation of children; interstate transportation of stolen motor vehicles; interstate transportation of stolen property; sale of stolen goods; trafficking in motor vehicles and parts; trafficking in contraband cigarettes; white slave traffic; restrictions of payments and loans to labor organizations; embezzlement from union funds; Bankruptcy fraud; fraud in the sale of Securities; felonious manufacture, importation, receiving, concealment, buying, selling, or otherwise dealing in narcotic or other dangerous drugs; and any act that is indictable under the Currency and Foreign Transactions Reporting Act.
Steps taken? Fired the CFO?
CYIOS is listed on Kidd's website as a company he is currently advising. And another company WiFiciency. Wonder if they're aware of his past? http://www.armadacptl.com/news/archive/
http://www.armadacptl.com/management/armada/index.html?staff_id=96
Another lawsuit! Isn't his wife named Joan?
Nature[s] of Suit: 13
Recovery of money/property - 548 fraudulent transfer
Plaintiff
-----------------------
Emerson C Noble
Post Office Box 195008
Winter Springs, FL 32719-5008
represented by John H Meininger, III
John H Meininger III PA
Post Office Box 1946
Orlando, FL 32802
(407) 246-1585
Fax : (407) 246-7101
Email: john@meiningerlaw.com
John Henry Meininger, III
Meininger & Meininger, P.A.
Post Office Box 1946
Orlando, FL 32802-1946
407-246-1585
LEAD ATTORNEY
V.
Defendant
-----------------------
Roy Thomas Kidd
432 Valley Stream Dr
Geneva, FL 32732
SSN / ITIN: xxx-xx-2021
represented by Roy Thomas Kidd
PRO SE
Joan Lowder Kidd
432 Valley Stone Drive
Geneva, FL 32732
represented by Joan Lowder Kidd
PRO SE
https://ecf.flmb.uscourts.gov/cgi-bin/iquery.pl
Maybe I missed some? These are employees from the filings. Not sure if I missed anyone.
Mascot? How about one of these people?
Alan Barnett Head Research & Development Chemist
Amy Bradshaw Vice President Marketing & Communications
Bob Molodynia Vice President, Business Development
Brian Seburn Chief Technology Officer
Geoff Weber
Gregory Goldberg Director
Jacob Smith Chief Operating Officer
James Fairbairn Director, Audit Committee
John Bordynuik President and CEO
John Colin Robbins Senior Vice President
John Wesson Director, Compensation Committee
Katie Matkowski Profit Center Manager
Michael Kaplanis Vice-President, Mergers & Acquisitions and Strategy
Michael Moneyhan Ship Captain
Robin Bagai Director, Nominating Committee
Ronald Baldwin, Jr. Chief Financial Officer
Ronald Kurp Vice President Research & Development
Scott Kobryn Vice President - Systems - Processing
Theodore Henry Director
Reinventing is what makes every invention work. Post-it notes, super glue, the wheel. Nothing wrong with reinventing. Used to be on a party line with my phone. Hudson 8...... If things hadn't been reinvented, where would we be now?
PET will be very valuable as FUEL when there is none.
Pet is the type of plastic that is recycled the most and has more value as a recycled plastic than it would if it was converted into fuel.
Re-audit by any other name as stated in the filings.
"re-did" or a "go over" etc, etc. Still takes more than a day. Multiple entities, multiple locations, different countries, different practices, different operating software, etc. No way the 10 will be out on time. Not with another new outside auditor.
Justice
Not at the time but Withum did go over all the books from the period for JBI DE and JBI Canada, including this transaction, they even looked at the books for JBI Canada back to 2006, things are all good. If you feel otherwise please state it in a detailed and direct way.
Justice
Can you explain how this is a negative. JBI did replace Gately. Are you saying that because JBI hired them in the first place JBI must have been doing something wrong as well. Hmmmmmm!!!! Certainly that was corrected with the hiring of Withum when they re-did the books, don't you agree?
Rawnoc
Dead wrong again. No past statements have to be reaudited.
Nice DD before Gately was hired. Who hired them? Didn't check for a current license? Heck - I do that before a tree trimmer cuts a branch!
O'Donnell - haven't I seen that name somewhere?
I get it - dates again. June 2009 PCAOB REVOKED and in JBI's filing it says October 2010. When did JBI hire them again?
I had googled "cost of plastic mining" and this was one of the articles that came up. And I was researching for FREE!
Other costs: Solid waste facility, operating costs, employees of multiple locations (SWF, Processor, Refinery, Storage facility). Free isn't ever FREE.
IBM and MIT discover way to recycle plastic at low temperatures:
http://www.greenoptimistic.com/2010/03/10/chemical-recycle-pet/
Day? New Auditor. No way it's a short process. They have to re-audit the past auditors statements.
How do you know that? Domark owned JAVACO. Who's books did they audit and when? It's not about a Withum conspiracy. The question was why so many auditors and why did E&Y leave.
Consulted with Withum prior to appointing? If they didn't make a statement about specific accounting practices related to the businesses does it matter if they were appointed later? or that it was announced later? Any CPA's on this message board that know the answer to that?
Date discrepancy? And they got rid of Vasquez and the accounting problems went away? Is this the key statement?
did not consult with WITHUM regarding (1) the application of accounting principles to a specified transactions, (2) the type of audit opinion that might be rendered on the Company’s financial statements, (3) written or oral advice was provided that would be an important factor considered by the Company in reaching a decision as to an accounting, auditing or financial reporting issues, or (4) any matter that was the subject of a disagreement between the Company and its predecessor auditor as described in Item 304(a)(1)(iv) or a reportable event as described in Item 304(a)(1)(v) of Regulation S-K.
Who's David Crowder? Who did he work for?
Zardiw Member Profile
Zardiw Member Level Grandfathered Member Share Wednesday, September 09, 2009 9:05:31 PM
Re: scion post# 7005 Post # of 97774
David Crowder...But they are going to hire one of the big 4 from what I understand....z
Ah - you said Moore Stephens wasn't an auditor. My bad. I don't remember Moore Stevens Lovelace. Who were they?
Any PR on if the 10K will be on time?
Moore Setphens was never an auditor
MSCM, LLP is an independent firm associated with Moore Stephens.
From their website: http://www.mscm.ca/about/our-firm
Bottom of the page:
An Independent Firm Associated With Moore Stephens
Like I said - who hires the auditors?
Have they said they have to file an extension?
As much as I can remember maybe 6? Moore, Seals & Beers, Gately, Withum, E&Y and Moore Stephens. I'd have to check filings to be sure.
Who's the compliance person at JBI? He'd be the one to ask. Maybe the CFO?
Scion probably has the most current info. They are colorful and still going on.
Children?
Oh she walks. She's already reproducing too. And her children are bigger, bader, and more profitable.
Sales? Permits?
And, no, LOL -- you most certainly cannot buy the machine cheap or even at all.
I saw them USD for 30K and less. Just Google "pyrolysis machine pictures" and click on the different units. There are more on other international trade sites.
What's the present value of the ONLY self-viable green process in history worth potentially billions? I don't know. Current market cap of $40 million seems awfully cheap to me. Especially since only in anybody's wet dream is this process for sale at any price.
As you said in your previous post, everything has a price.
(the donghe machine has a poor yield, huge waste, is highly pollutive, and is illegal in America to operate)
Here is a list from one website of companies that manufacture and sell the machines. There are machines that are not the Donghe listed here.
http://www.alibaba.com/trade/search?SearchText=waste+plastic+oil&Type=&CatId=0&IndexArea=product_en&Country=&sq=y
It's still an infant. Doesn't walk yet. (sales, permits, etc) What's the right price for this at this stage? And what part of it would they want? You can buy the machines pretty cheap. And you are right. Everyone has their price.
That was in the infant stage. Everything is for sale for the right price. Can never rule out a buyout.
Good post! And what would a waste management company do with a tape reading business, a chemical manufacturer and a cable distributor? There are also egos involved. Why sell something early in the game when you can bask in the glory for a few years first?
Not sure why Emas was listed as a director of JBI in his backround information on that link. Just said 2008 to present. Must have been a mistake. Emas appears to be the old atty for 310 and G & G mining - his name was on a filing doc for 310 that JB signed right after JB bought TRTN/310.
I'm not assuming. This is what it says in the link. Could be a mistake.
2008-Present
Former Director
JBI, Inc.
BACKGROUND*
Mr. Joseph I. Emas, Esq serves as Secretary of Atlantic Energy Solutions, Inc. Mr. Emas serves as a Senior Partner of Joseph I Emas Esq. He serves as Counsel of DoMark International, Inc. He has been General Counsel of Coach Industries Group Inc. since July 2004. He serves as Legal Counsel of Ensurapet, Inc. (formerly, Vsurance Inc.), and Soltera Mining Corp. (formerly, Atlin Mineral Exploration Corp). He has knowledge and experience with both securities law and compliance. ... He serves as a Securities Counsel and Legal Counsel of First Corp. He serves as Securities Regulation Attorney and has practiced law since January 1994 in Florida, New Jersey and New York. He specializes in securities regulation, corporate finance, mergers and acquisitions and corporate law. He served as the Chief Compliance and Ethics Officer of Coach Industries Group Inc. from January 1, 2004 to December 31, 2005 and served as its Special Securities Counsel from July 2003 to July 2004. He served as Secretary of Latitude Industries Inc. He served as the Counsel of Spooz Inc. from January 2007 to September 2007. He served as Legal Counsel of Tora Technologies Inc. Mr. Emas served as Chief Executive Officer of Dynamic Response Group, Inc. He served as the Chairman of Dynamic Response Group, Inc. until October 2008. He serves as a Director of Hydrogenetics Inc. He has been a Director of AmeriChip International Inc. since April 2008. He serves as an Independent Director of Advanced Growing Systems, Inc. Mr. Emas serves as a Director of several public companies which trade on both the OTC.BB and Amex. He served as an Independent Non-Executive Director of HQ Sustainable Maritime Industries Inc. from May 18, 2007 to March 2010. He served as a Director of Brampton Crest International Inc. from December 2003 to March 4, 2010. He served as a Director of JBI, Inc. (also known as 310 Holdings Inc.) since August 18, 2008. He served as an Independent Director of BlueFire Renewables, Inc. (Alternative Name is Bluefire Ethanol Fuels Inc.) from July 2007 to December 22, 2009. He served as a Director of Coach Industries Group Inc. from November 2004 to March 29, 2007. Mr. Emas served as a Director at Blue Mountain Resources Inc. since March 31, 2008. He served as a Director of Patient Access Solutions, Inc. from March 31, 2008 to February 10, 2009. He served as a Director of G & G Mining Corp. until February 9, 2009. Mr. Emas served as a Director of SkyPeople Fruit Juice, Inc. from February 22, 2008 to April 7, 2008. He served as an Adjunct Professor of Law of Nova Southeastern Shepard Broad Law School. He is the author of ''Update of Juvenile Jurisdiction Florida Practice in Juvenile Law''. He received William Smith Award, Pro Bono Advocate for Children in 2000. He received a Honors BA at University of Toronto in 1977. Mr. Emas received Bachelor of Administrative Studies, with distinction, at York University in Toronto in 1984, his JD, cum laude from Nova Southeastern Shepard Broad Law School in 1994 and his LL.M. in Securities Regulation at Georgetown University Law Center in 1995.
Why is that your assumption? It said in his Bio - other affiliation.
Joe Emas? Was he on the JBI BOD?
http://investing.businessweek.com/research/stocks/people/person.asp?personId=11515083&ticker=FSTC:US&previousCapId=28511168&previousTitle=DOMARK%20INTERNATIONAL%20INC
Seriously? We know Kurp & Smith have 500K shares along with 5 other people (in the court filings)That's 3.5 million shares right there. And now your #2X might have some for the CFO? Could this explain the
difficulty reconciling shares? Why don't these shares show up on the insider list?
knickknack Share Saturday, March 26, 2011 5:15:46 PM
Re: tygrek post# 97511 Post # of 97538
Can't say for certain...but..
the possibility exists that all the shares are in the name of my #2 X..could be they might be havin' an affair...it's a strange world..and 'People Are Crazy'..
Awesome - anything else?
Trade shows are good for recognition and for making contacts. Look at all of these:
Waste Management Trade shows
http://www.biztradeshows.com/waste-management/
Plastic Trade shows
http://www.biztradeshows.com/plastic/
Chemicals & Dyes/Oil & Gas
http://www.biztradeshows.com/chemicals/
Oil & Gas
http://www.tsnn.com/search/events?title=&tid=495
These are just the trade shows & exhibitions. Imagine all of the other seminars & training opportunities there are associated with these groups!