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Yup, the credibility issue is all too easy to banish. Here's how:
Processor #1 is up and running as advertised 2 + years ago. Processor output is in XXXXX amount and was sold to XXXXX for XXXXXX dollars.
Either:
1. JB won't PR the above information
2. JB can't PR the above information
Based on my experience reading JBII's previous PRs, the answer is clearly #2. JB has been nothing if not a guy who loves to tell the world what a mover and shaker he is ($10 mil media credits included)
So IMO, talk of additional P2O machines being built and put into service is putting the cart wayyyyyyyyyy before the horse. You don't go into production of additional units until the prototype is proven and finished.
And with the form D: $2,795,000 sure sounded impressive when it was PR'ed, but when you're looking for 5 mil, it's not a very ringing endorsement of investor belief in either the product or the credibility of the company.
And based on JB's frenetic pattern of PR announcements, don't you think there would be PR announcing that the one machine is actually running 24/7 and selling product to one of the companies that JBII has PR'ed a fuel sales agreement with?
It's called "credibility".
1. You say you can achieve something within parameters you define
2. You achieve it
3. You have credibility and people believe your next claim
1. You say you can achieve something within parameters you define
2. You do not achieve it
3. You have seriously limited your capacity to move ahead with # 3 above
This is the JBII issue. Obviously as a long, you tend towards the first model of credibility.
As obviously, the discrepancy between JBII's claims and the current PPS shows that many people tend towards model # 2.
If model # 1 was as clear cut as many zealots here claim, the PPS would not be hovering around a buck and PIPES at .80 would not be necessary.
Either large investors don't believe in the process, or large investors don't believe in JB himself.
Time will tell, but as the months peel away, model # 2 gains more and more traction.
Simple question: Is there a P2O machine up and running 24/7 in Niagra generating revenue right now? If so, how much?
If not, see model # 2 above
Maybe a short term dip as it looks like the news was known but not the .80 amount.... not a bad floor to have installed this early in the year with feasibility study a little ways of....and an upside here: Dundee Securities Ltd., and including National Bank Financial Inc., Cormark Securities Inc., Macquarie Capital Markets Canada Ltd., and Fraser Mackenzie Limited must believe that AAA is going to be slurped up or they wouldn't be buying.
And not a bad poker play by Farhad: the big companies (BHP) just saw AAA get a bit more expensive. I'm sure they want to buy out the leanest AAA they can.
98% of my modest account (30k) is in MMT, AAA and MJX. Too far across the pond (Sydney) to watch closely...the market opens at 1:30 AM my time.....and who buys the close?
The account was 20k before taking profits on SPIN
I really do enjoy the stats. I'm curious if there's any connection between the stats you've posted and the results of the contests.
I'm also curious about the % of picks that each contestant actually holds in their real portfolio, which for me is 2 (AAA and MMT)
Thanks for the info!
Damn that SEC! LOLLLLLLLLLLLLLLLLLLLLL! It's laughable that the longs here see this as an SEC vendetta. The lawyers were licking their chops months ago. A permutation of the lawsuit was PR'ed by JBII for weeks on end......and you all stuck your choppers in the sand and hoped it would go away.
Congrats on yet another fantastic buying opportunity!
From the PR: The Company regrets that its attempts to negotiate settlement of this dispute failed, and, in consultation with its litigation counsel and Board of Directors, looks forward to vigorously defending itself in court, where the Company believes it will prevail on the merits.
Shareholders, look for a few more zeros in the next Q under the line item legal expenses
Let's be honest (John), the vast, vast majority of publicly traded companies whose CEO has authorized proceedings that have resulted in an SEC letter like the one JBII received today, are looking for new jobs. And I'm sure every one of them has crowed loudly about their innocence.
A truly independent BOD would have met without JB and come to the obvious conclusion: for the good of the company, this guy has to go. It's not a question of guilt and innocence, we all know that, but this is shaping up as a very expensive (and shareholder funded) legal battle about John Bordynuik's ego and pride.
JB's ego and inability to listen have already cost the company dearly; they may well be the company's complete undoing.
Just a few questions that might be making potential investors a tad shy on the "buy" button....
1. Who pays for the legal fees of the upcoming "trial of the century?" What are the estimated legal fees and how does that amount square with JB's personal wealth?
2. Who runs JBII during the appeal process?
3. Does JB take his secret catalyst and abandon the idea of a publicly traded company if he loses the appeal? In the rebuttal PR, I saw no commitment to JBII shareholders in the form of JB stating explicitly that he will do his all in the service of JBII regardless of the final appeal outcome.
4. Do you seriously believe that existing/potential partners will dismiss the SEC findings as easily as you and the other diehard, thanks-for-the-opportunity-to-buy-more-at-these-cheap-prices (again) crew?
5. Can you now admit that JB has been a CEO who has made numerous large blunders in his short stint on the job, and that under the guidance of a more experienced and less ego-maniacal CEO, the company would have more credibility (and all the benefits that come with it) than it is currently, uh,.... enjoying?
6. Does anyone else see a possible oneness in the , uh, accounting methods that valued the media credits at 10 million bucks and recently reported gross margins at 83%
I'll say one thing: never a dull moment with this company!
A well timed buy IMHO. AAA has executed seamlessly, both with their proving up of reserves and their financing.
I'm looking for a buy out in 2012, hopefully in time to lift my FED.WT a bit before it expires worthless.
Almost time for the Board to kick barney another 100k performance bonus for 2011.......
Fantastic win! Well done in a bizitch of a market. Can't wait to see your 2012 picks!
Well referenced. JBII has taught me nothing, if not to be flexible with my DD and recognize that things change.
With Pinkies especially, integrity of the CEO is paramount: does the company execute as predicted/ inferred/ promised?
If you're comfortable with your own answers to my questions linked back in this thread, more power to you.
If PIPE shares and failed investment decisions don't cause any change in your perception of the integrity of the CEO, more power to you.
GLTY
LOL, to each his own DD
ALL HEAVEN IS GOING TO BREAK LOOSE--WISE UP ALREADY
Enlighten me:
Who got the better than $1 million dollar finders fee for the PIPE offerings at .80?
What happened to the financing that JBII's CEO said was going to be a cakewalk once the air permit was received?
How do you see the company raising cash to fund P2O development until such time (if/when) the company is cash flow positive?
When, in your estimation, will the company be cash flow positive?
How do feel about the company's track record on the tape reading business, Pak-it and Javco?
TIA
Where was this processor supposed to come from? LOL, let's see. Ummmm...
1. Large amounts of cash rolling in from the tape reading business
2. Pak-it revenues
3. Cash flow from the processor in upstate NY that was gonna rain cash (and heaven) down upon us once the air permit was acquired
4. Cash from fat cats who, according to the CEO, were just waiting for the air permit to be approved before providing any necessary financing.
This last point merits extra consideration: What happened here???!!! Or do you think that John B was referring to .80 PIPES at exorbitant finders fees when he made that claim?
When a CEO makes claims like #4 and then starts sucking the PIPE, savvy investors best beware.
If you had a boatload of shares at .80, you might sell some too. .80- a buck is a damn decent return in this market.
Actually - lenders are quite eager to lend to disruptive start-ups despite their sometimes enormous beginning losses.... take a moment to watch Bloomberg's profile of Elon Musk in their "Risk Takers" series. Pay close attention to the giddy VCs as they describe their willingness to fund businesses that are nowhere near where JBII is, JV-wise or operationally.
So why has JBII been issuing PIPE shares at 70% discount to the market?
Where is all the money that John B said would rain down on JBII once the air permit was received?
Herein lies the rub: the very first processor that was allowed to operate by the State of NY when the air permit was pending was supposed to do exactly what you indicated: churn out fuel and help the company generate cash flow.
Clearly this has not happened.
Savvy investors were short JBII today and cleared 20%.
Savvy investors will wait until the PIPE price of .80 hits again before considering buying shares because savvy investors have seen the PPS dip into the high .50's earlier this year.
Savvy investors know that when shares become unrestricted, PIPE holders will become PIPE sellers and leave die hard longs looking at losses just like todays and dreaming about a JBII future that has taken longer, cost more and encountered more technical hurdles than they are willing to admit to.
Savvy investors remember $ 10 million media credits, tape reading $$, Pak-it (in) and Javco and rightfully question the judgment of a company that makes so many bad calls over such a short time.
And savvy investors want to know who got the tall cash for dealing PIPE shares at a 70% discount to the market.
84% gross margins issued in the same Q with JBII's dilution and losses calls to mind a famous quote by P T Barnum.
GLTY
Uh, you might want to check the turn around time between the first stack test and the results before drooling over early 2012 production.....
JBII is going to be cash flow positive by the end of the next Q!
Sounds familiar......
Lets have a pool: what does everyone think will be the correct amount of meaningful sales of P2O product announced in the q?
Answers in barrels please.
You tell me: how much cash has Rock-Tenn put in the JBII account?
And don't forget that JB said that potential big $$ investors were all lined up and waiting to throw $$ at JBII once the air permit was approved. LOLOL
While the actual terms of a transaction to which the Company may be a party cannot be predicted, it may be expected that the parties to a business transaction will find it desirable to avoid the creation of a taxable event and thereby structure the acquisition in a so called “tax-free” reorganization under Section 368(a)(1) of the Internal Revenue Code of 1986, as amended (the “Code”). In order to obtain tax-free treatment under the Code, it may be necessary for the owners of the acquired business to own 80% or more of the voting stock of the surviving entity. In such event, our shareholders would retain less than 20% of the issued and outstanding shares of the surviving entity, which could result in significant dilution in the equity of such shareholders.
Looks like the roll of the dice for a juicy RM came about 3 years too late here. Meuse shells had a nice run for a while, but that was before accounting scandals (RINO, CCME et al) rocked the china small caps into investment-world oblivion.
And of the 1499 cases that were collected, do we have any idea what the collection $$ breakdown is, both in dollar amounts and as a % of the original claim?
HDVY (.0895) DD Alert POST- Diagnostic, Medical, Biotech, & Intellectual Property Company
Major Partnerships w/ Pfizer (NYSE), Abbott (NYSE), Quest Diagnostics (NYSE), CLRT (NASD), IART (NASD), BRKR (NASD) . These FORTUNE 500 companies have to pay royalty fees forever to these HDVY since HDVY licenses their SVM-RFE Technology to them and this company is not even $1.00. VRLMQ went from .06 to almost $20/share on the approval of the OVA (Ovarian Test) using the technology licensed to them by HDVY. Demonstrates how undervalued HDVY is at .38.
HDC’s License Partners (From 10/19/09 PR)
Yup, the story here was much more compelling 2 years ago. About time for the board to cut Barney another 100k sweetener for all his amazing accomplishments in the past year...
So why do Abbott and Quest pay good coin for an exclusive look at HDVY's prostate cancer test and decide to walk away when their DD is complete?
Personally, I think we hear absolutely nothing about any meaningful sales in the next q. Testing? Sure, probably lots and lots of interested and eager players.
Sales? Well what do you mean by sales? How many barrels of fuel sold do you feel justifies the use of the word sales? Or is gallons the correct measure?
TIA
Time to turn your amazing DD to the next 04-2.27 runner!
You're assuming he still held the title of CFO and the time of the sale.
I have my $$ on Mart. There's worse problems a company could have besides a shiiteload of oil proven up and choked behind the pipe.
AAA drops below a buck. Added here and put in a stank for .87 in case it gets really nutty.
The story's the same- the options and PP s of last spring are 50% above this level.
I'm with ya! That's why I bought at .688
Lovin' the stats SSKILLZ1! Thanks for the work!
Didn't management also say that new financing would be a breeze once the air permits were received?
And if JBII is indeed currently generating revenue, what would be the point in not PRing it? Especially given how many LOIs, potential partnerships, etc, that JB has PRed in the past, which aren't, to the best of my knowledge, actually generating $$? ie, the Florida deal, the shipbuilding deal, etc
MJX.v is by far my largest position, followed by AQ.V and PVG.TO
I'm big on potash too, with AAA.V and FED.WT (currently underwater)
Well done KIK. What a streak! And what a fantastic return in this terrible market.
Looking forward to your next suite of pix.
And thanks again to 10 bagger for the inspiration and sskillz1 for all the hard yards.