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the accounting firm for the next month... who's in line?
JBII is a cash cow... without venture capital in the near future they will continue diluting...
the pastic-to-oil is a scam...
why do you think they change accountants like underwear?
cash now = 276,892
http://www.sec.gov/Archives/edgar/data/1381105/000121390010004886/f10q0910_jbi.htm
where did the millions go?
you said 2009?? what?
On January 14, 2010, JBI, Inc., (the “Company”) consummated a confidential private placement (the “Private Offering”) with certain accredited investors for the issuance and sale of 8,260,842 shares of the Company’s common stock, $0.001 par value per share (the “Common Stock”) at per share price of $0.80 for aggregate offering proceeds of $6,608,673.
http://www.sec.gov/Archives/edgar/data/1381105/000121390010000259/f8k011410_jbi.htm
ACTION: TO INCREASE THE NUMBER OF AUTHORIZED SHARES OF FROM 70,000,000 TO 150,000,000 (THE “SHARE INCREASE”)
On November 6, 2009, our Board of Directors approved, subject to receiving the approval of the holder of a majority of our outstanding capital stock, an amendment and restatement of our Articles of Incorporation (the “Restated Articles”), to increase the number of authorized shares of common stock we may issue from 70,000,000 to 150,000,000 (the “Share Increase”). The Majority Stockholder approved the Restated Articles pursuant to a written consent dated as of November 6, 2009. The Restated Articles effecting the share increase will become effective following filing with the Secretary of State of the State of Nevada, which will occur promptly following the 20th day after the mailing of this Information Statement to our stockholders as of the Record Date.
http://www.sec.gov/Archives/edgar/data/1381105/000121390009003338/def14c_jbi.htm
ok start with the cash... where did $1,945,594 come from? on 6/30/2010
http://www.sec.gov/Archives/edgar/data/1381105/000121390010003178/f10q0610_jbi.htm
$2,448,662 on 3/31/2010
http://www.sec.gov/Archives/edgar/data/1381105/000121390010002911/f10q0310_jbi.htm
$520,331 on 9/30/2009
http://www.sec.gov/Archives/edgar/data/1381105/000121390009003274/f10q0909_jbi.htm
OBVIOUS REASONS WHY JBII IS A SCAM
1. Accounting. The cash cannot be accounted for. The constant change in accounting firms suggest that there is an obvious problem.
2. Plastic is not free. Shipping and sorting cost are huge. Material would likely cube out a truck load.
3. CEO stumbles onto a "formula" which makes the process work. In reality, formulas are not stumbled upon. Formulas are developed to try an understand a process. No the opposite way around.
4. CEO portrayed as an uneducated prodigy who has all the answers. From cutting edge data recovery to cutting edge chemist. There are NO published journals that show John Bordynuik collaborated with MIT. This is common practice when publishing results from a collaboration in academia.
5. The "secret" catalyst. They also talk about it very mysteriously. It could be what truly is behind this scam.
6. The history of the waste-to-fuel industry. There is NOT 1 process that has been verified to be economically viable over the past decades. Not one! The technology that is used in this field is the same as many years ago.
Put it all together with some common sense. This is a SCAM.
Please stop responding me... It entices me to come back and write more!
the dude
ok guys, good luck... consider yourself warned... i don't want anyone to loose their money... i will check back with you all in some time...
if they announce that they've secured venture capital i might jump in myself...
take care...dude
common sense and decades of waste-to-energy SCAMS...
exactly...
actually it would drive the prices up given this process consumes energy...
Waste to Energy
New plants are usually not economically viable unless a high tipping fee can be secured.
Waste to energy (WTE) technologies can use a variety of refuse types and technologies to produce electrical power. The direct use of municipal solid waste (MSW) and refuse derived fuel (RDF) to generate power are addressed in this section.
http://ebrdrenewables.com/sites/renew/waste.aspx
did you see it make any money... probably not...
other scams.... i wonder why the oil prices haven't plummeted... all that supply of oil... lol
in the waste-to-energy field you CAN generalize....
not a single one has worked.... NEVER!
recycling is different my friend...
i can't post about the guts of the JBII plant because it secret... it always is...
what i can tell you is that in the last decades waste-to-energy has never materialized... NEVER...
and its been used as cash cows only...
look at molten metal technologies... decades ahead of JBII...
this is a link to a class action suit filled against them becasue of materially misrepresenting the capability of its technology.
http://securities.stanford.edu/1008/AxlervMoltenMeta/001.html
there is a long history of scams with waste-to-energy concept...
at least this one had people from MIT... and was a spin off from a PHD thesis...
The Motley Fuel article clearly states that the plastic to oil process is fishy... that is green investment scam...
http://www.fool.com/investing/general/2010/01/06/how-to-avoid-green-investment-scams.aspx
yet you guys still believe it works... amazing!
this is the truth...
JBI Inc., which is promoting a waste plastic-to-oil process that "produces oil at less than $10 per barrel." Now why didn't Chevron (NYSE: CVX) think of that?
http://www.fool.com/investing/general/2010/01/06/how-to-avoid-green-investment-scams.aspx
and you guys know all this how...
this company recycles... thats all...
nope... the amount was the same as last month.... only commodity prices went up...
if this process has a net positive enrgy output it means the following:
the mystery "catalyst" is likely a high energy content material... bought at a premium in the market of course...
grease from water???
the never show the catalyst because its propitiatory...
thanks.... please keep posting!
the "secret catalyst" is what makes this work right... i think its just fuel... lol
honestly... nobody is buying into this stock for a reason...
the trick to JBII is maintaining the "secret catalyst".... anyone here know what it is?
you don't understand... the process works... its true... its just NOT economically viable...
well i might not have access... but i can't believe any of the large hedge fund haven't bought the whole company... lol....
they got a permit to recycle plastic... but the business can't make money form this process... everyone knows this...
so tell us who is buying this more expensive...less refined fuel...
it goes something like this... they will look for "partners" to build hundred of these useless plants over the US...
they have the "proprietary process" and they got the cash...
the process of converting plastic into profit does NOT work...
and consuming lots of power....i wonder whos paying the bill...
the "mysterious" catalyst... lol... you know what it is...its fuel..
the "mysterious" catalyst... lol...
not true... look at the millions if not billions lost over the molten metal technologies over the past decades....
the company went bankrupt several times... they use it as a case study in business schools...lol