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Complete nonsense. Wow!
This company/stock is close to bankruptcy and the stock price will continue to show it.
Another side bet won by myself.
Apparently, this is no longer accurate?
JBI Contact:
Louis Pearce, Corporate Communications & Investor Relations Representative
Bespoke Growth Partners, Inc.
561-381-1829
lp@123bgp.com
Has Bespoke moved on from JBII?
What about his excellency?
Now back to this?
Email: ir@jbi.net
Telephone: 716.471.5995 [leave a message]
I'm surprised they didn't dump the news over the 4th's weekend. I can't wait to read how they suddenly fixed the "Flagship" after so many months of brokenness and company brokeness. You think the Soooooper CFO is hesitant to sign the over due Q's?
I think anything that would support a "Q" at the end of it.... Like SOONQ etc.
Somehow the rest of that paragraph was left off your post. Here it is for everyone.
At June 3, 2014, we had three fully-permitted operational P2O processors, one dedicated to
Research & Development, two dedicated to fuel production. All three processors are located at our Niagara Falls, NY facility, and our fourth and fifth
processors were in process of assembly offsite in Niagara Falls, NY for sale. For the reasons described in Item 7, Management’s Discussion and Analysis of
Financial Condition and Results of Operations, the three operational P2O processors have been idle since late December 2013.
For the reasons described in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, the three operational P2O processors have been idle since late December 2013.
Is this a false statement in the 10k?
Nope, completely false statement. Wow!
So, $250,000 is a lot of money for a 10k audit but a mere "parking ticket" for a nearly bankrupt company in regards to a rogue officer.
11 employees are still employed by the company . Are they all friends or family of "Honest John"? What can they all be doing.... running housekeeping services for "Honest John's" hotel?
What ever happened to the almost complete processors 4 and 5?
I was thinking the same thing. Why didn't "Honest John" or Capt. Rick pay for the "Flagship" processor repairs? Tells a lot about their confidence in the company.
Bleed it dry and then ....
I think the only way they can continue to try and sell shares is to be current in their filings.
All that documentation will certainly come in handy if/when you are asked to provide your actual trades on JBII. Under .30 cost basis is rather incredible if one believes all your previous buying posts.
Looks like a good/big day ahead.
$4/shr piced. very good imo.
Actually this offering is likely due to tremendous institutional buying pressure. Letting more institutions in before the results are released will eventually allow for more price stability . Last offering provided a nice base, we'll see what happens here, if/when they price it, and who the main subscribers are.
•GALE: MissionIR, an affiliate of DreamTeamGroup, received $50,000 from GALE for 240 days of advertising, branding, marketing, investor relations and social media services provided by MissionIR and affiliate DreamTeamGroup Business Brands.
BCRX may be setting up for another offering, which if priced right may takes us to the $18-$20 range. Not a big fan of Roth but Baker Brothers are the key here.
Barron's article [Paid Subscriber] gives $18/shr target. Personally I think that is low. http://online.barrons.com/article/SB50001424053111903704404579336782284125454.html?mod=yahoobarrons&ru=yahoo
Good possibility.. Or Hotel staff and valet parking attendants for "Honest John's" family [ shareholder sponsored] fleet of cars and trucks?
Explosion control and clean-up crew? Since the plant is now idle--no need for them?
Wow! That's prolly gonna make selling them a wee bit more difficult.
"Honest John" is now Chief of blowing things up real good?
So the processor blew up?
Blowed up real good I bet!
Schwab no longer wants GEVO shares to short/borrow. The share offering and tax loss selling apparently did the trick for them and many other short positions.
http://www.sec.gov/Archives/edgar/data/861838/000131924413000019/idra_13g.htm This is really good news!
5:06 PM
Idera closes +19.8%, Integrated Core Strategies discloses 5.1% stake
Integrated Core Strategies discloses a 5.1% (3.24M share) stake in Idera Pharmaceuticals (IDRA). (SC 13G)
Shares broke out in regular trading to close +19.8%.
No mention of Ford or Coke... seems like this may single a bottom... Friday will tell imo.
I bought a lot down here at the all U can eat GEVO trough.. we'll see if it pays off early next year.
BTW Looking at the SA author's credentials gives one pause.
This will be ok in the longer run. Piper Jaffray will handle it and seems like the market already kinda priced this in. Rest of the week may be dicey though.
I'm thinking shorts are banking on some kind of offering or other cash raise. If GEVO can obtain favorable financing [if they are even looking for it] shorts will propel this higher and fast.
That's a very high premium to pay imo. Someone is very sure of his short or very wrong and needs to cap any price appreciation . I like the fact that shares are hard to borrow and also quite expensive to short.
Minority of Hi (BOV: OIBR4) call attention to CVM
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The Securities and Exchange Commission today received a query from minority shareholders of Hi (OIBR4) contends that the body manifests itself on some points they considered questionable in recent operation between the Brazilian company and Portugal Telecom.
This agreement involves injection of capital by the Portuguese in the Hi group and at the end, comes a new company. For the minority, the transaction has the main purpose to end the debt controllers Hi, without the company listed on the stock exchange, has any benefit directly with some steps of the transaction.
The operation can be divided into three parts: the Portugal Telecom will be left with U.S. $ 4.5 billion in debentures issued by AG and LF, which will be convertible into shares of such vehicles and exchangeable for preferred roles of Oi
In a second step, there will be an increase in capital Hi, partly in cash, partly in assets that will be contributed by Portugal Telecom.
Finally, the third phase a new company, which will incorporate the actions of Hi and Portugal Telecom, after a series of corporate simplifications will be created.
At the end of the three cases, according to the agreement announced by the companies, Portugal Telecom will have a stake of at least 36.7% and at most 39.6% of the new company. If the slice stay out of this range, the operation is canceled.
The union operation between the companies will bring estimated at U.S. $ 5.5 billion synergy. The questioning is consistent, according to the minority, because the driver could not use shares of a public company controlled as an instrument of self-financing, which could be classified, say, as an abuse of power control.
Schwab bumped up their offer to 18% for borrowed GEVO shares today.[ Up from 15% ]
Despite your disparaging comments about the article's author, was the article inaccurate in any way?
Wow! So you're saying that you see JBII longs with multiple accounts wash trading this stock? That is a bold statement and explains a lot! Thanks and have a good one.
JBI And Plastic2Oil: A Colossal Wreck
http://seekingalpha.com/article/1866171-jbi-and-plastic2oil-a-colossal-wreck?source=yahoo
JBI, Inc. (OTC: JBII) is in the business of converting waste plastic into fuel, ever since its founder John Bordynuik "found the solution to a process involving breaking down plastic molecules" while mining through a research archive. The basic science behind pyrolysis is sound, and the concept of reducing waste plastic while recovering useful fuels is certainly appealing. However, I believe that this particular company has little prospect of turning a profit, and that investors should be wary of this ongoing meltdown.
(click to enlarge)JBII 1 Year Chart
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As of its latest quarterly report for the period ending 9/30/13, the company was down to $2,727,481 in total current assets, with total operating expenses of $3,121,045 in that quarter. SG&A had increased to $2,728,889, up from $2,202,504 in the previous quarter. This comes after reducing about 25% of its workforce back in July, which was followed by the closing of its recycling facility in August, both actions classified by the company as "cost reduction measures."
After relying on a steady stream of PIPEs for funding, JBI recently crafted a deal with its new CEO, Mr. Richard Heddle, who received a 12% Secured Promissory Note due in 2018 for his $3 million investment. These notes have security because the "Company's obligations under the Note are secured by a lien on substantially all of the assets of the Company and Plastic2Oil of NY#1, LLC and JBI RE #1, Inc., each a subsidiary of the Company." With little assets remaining to negotiate with, the company must immediately find more funds or begin to operate profitably. The former would most likely indicate incoming dilution, and the latter is unlikely for reasons I will explain.
History Keeps Repeating
JBI has a short history that is fraught with mistakes. Its discontinued operations include its 2009 acquisitions of Javaco, a distributor of electronic components, and Pak-It, a chemical delivery system, as well as the aforementioned recycling facility. JBI and Mr. Bordynuik were each fined by the SEC as part of a settlement over accounting fraud. And overall, the company had an accumulated deficit of $57,690,975 as of its latest filing, with little to show for it.
One positive event this year was a new partner, Crayola, who began to ship its markers to JBI to be recycled. Early last year, Crayola was facing a PR crisis when a class of students organized a popular petition on Change.org, which stated "We want Crayola to 'make their mark' by starting a 'take-back' recycling program for their markers." Crayola responded with the Colorcycle program, which gave JBI shareholders a glimmer of hope that free, abundant waste plastic was becoming a reality.
According to Mr. Bordynuik's comments during the latest conference call, in addition to Crayola plastic "the company has other significant plastic resources and does not foresee feedstock becoming a bottleneck moving through the end of 2013." Assuming that the company does indeed have a strong supply of plastic, the big question for JBI still looms: why are they producing so little fuel?
(click to enlarge)JBI Fuel Production
The company produced 170,725 total gallons of fuel in the third quarter of 2013, which was its most productive quarter to date. However, that number pales in comparison to what the company should be capable of producing, assuming an ample supply of plastic and functioning machines. When SAIC analyzed JBI's technology back in 2012, JBI was limited to 2,000lbs of plastic per hour due to permitting constraints that no longer apply. SAIC's report indicated that JBI should have been able to run its first two machines at up to 4,000lbs/hour each; according to the latest conference call, JBI is looking to run machine #3 at roughly 3,000lbs/hour. If the company could run its first two machines at just 2,500lbs/hour each, that would give the company 8,000lbs/hour of total production, or 1,000 gallons an hour, which would be 168,000 gallons in just a week. Instead, the company produces about that much in an entire quarter; clearly something is wrong!
Although the company started its current fiscal quarter with $144,044 in finished goods inventory, it only had sales of $277,276 in the latest quarter for its P2O division, $13,686 of which was profit. Assume that fuel production increased by a factor of 13, a level I've argued the company should reach. Were its margins able to double to around 10%, the company would still only be profiting about $500,000 from these P2O machines quarterly, a best-case scenario, which would still leave the company deep in the red every quarter at its current rate of spending.
That might explain why CEO Heddle stated in the latest conference call that JBI's "business plan has shifted once again with a focus back on joint ventures and machine sales." However, JBI has had many years to demonstrate that it can keep a machine operational for significant periods, and the company has yet to come close to a fully productive quarter. Until JBI can prove that its technology works consistently, I cannot imagine that any other company will be finalizing deals for these P2O machines.
Conclusion
JBI seems to be continually enhancing its technology and increasing its partnerships, yet its bottom line keeps failing to improve. Management and plans keep changing, and a supposedly highly-profitable technology has been long under-utilized for reasons kept mysterious from shareholders. At best, JBI can be seen as an ongoing science experiment; at worst, it is an outright scam that is living on borrowed time. Either way, JBI is running out of excuses and money, and I believe that potential investors should wait for serious confirmation of this technology before moving forward.
That stood out to me also along with the loss of voting rights,
From the original Email:
Important considerations
Security Price. There is the potential for downward pressure on the price of a security you lend if the security is borrowed to facilitate a short sale.
Dividends. If you have a security on loan to Schwab when it's scheduled to pay a dividend, you will either receive the dividend or a substitute payment in lieu of dividend (PIL). You may have to pay a higher tax rate on a PIL, but Schwab currently issues a discretionary payment to help compensate for additional taxes.1
Voting Rights. Upon lending a security to Schwab, you will lose the right to vote on corporate actions by the issuer.
Loss of SIPC Protection. Because borrowed securities may not be covered under the programs of the Securities Investor Protection Corporation (SIPC), loans are secured by collateral provided by Schwab.
Makes me wonder what the ramifications of a buyout would be on my lent shares.
A little more info from Schwab about this from their SLP [share lending program] page.
Notice: The principal reason to borrow a security is to facilitate a short sale. Not all securities and account types are eligible for the SLFP program.
Any dividends and other distributions paid on securities that you have lent to Schwab will be paid to Schwab. Schwab will pass on to you any cash dividends and distributions to the full extent you would have been entitled had you not lent such securities to Schwab.
Schwab will deposit such cash dividends and distributions into your account on the same day as Schwab receives the cash payment. Such payment by Schwab may not be entitled to the same tax treatment as may have been applied to the receipt of a dividend. Schwab is not required to compensate you for any differential tax treatment between dividends and payments in lieu of dividends.
This information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.
Participation in the program is based on enrollment. Share price and interest rates may fluctuate based on market conditions, which will impact potential earnings. Interest rates used to calculate earnings are subject to change without prior notice.
Instructions to Invest Cash Collateral in Bank Sweep Feature
When the lending transaction takes place, your securities will be removed from your account and placed into your supplemental account. In return, you will receive cash as collateral to secure the amount of your loan. This cash is intended to protect you in the unlikely event that the borrower of the securities fails to return them. We will maintain cash in your supplemental account that is at least equal to 100 percent of the market value of the borrowed securities.
Schwab is likely asking for borrows for a large client or fund or even themselves I suppose. That last "Coke" fueled run over $2.00 surprised a short or two. I think shorts want some inventory to cap another run if one occurs. GEVO has been on the HTB [Hard to borrow] list for quite sometime and so inventory shares to short are likely scarce. A lot of times having a large short position on a stock can really fuel a run [squeeze] if a positive event occurs .