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To be honest, I have little knowledge of what frequent posters on JBII are posting on other boards, and of their individual track records.
But how to you measure track record? The folks who introduced me to JBII are up 100% even at today's prices, does that mean they are right? And others have perhaps successfully unearthed scams in the past and see JBII following a "pattern", but does that mean they are right here?
I only trust my own research on any investments I make, not the past performance of people I've never met
Stuart
I wish it were about the company, but this board has become a boxing match between two very polarized camps, and the DD is all hype or all cry-scam.
You're right that nobody has to wait 3 years to voice their opinion about the stock or company, but when the "defenders" are looking out that far in the future, it's a one-sided fight.
In other words, I, being a "defender" will only have my proof .. when it comes, not before. And by the time I get it, there won't be any "other side" left!
Pretty strange situation actually when you think about it.
Stu
You're right, this is merely a "snag", and partly a result of being a "penny stock" on the OTC.
If this is the investment opportunity of the decade, then I think it takes a little more perspective than the past 2 months to judge the outcome.
I'm not a trader ... I don't flip stock as I'd likely lose my shirt doing that. But when you buy JBI shares these days (even pre December), you should hold them at least 2-3 years.
So if anyone would care to take pot shots at the longs, you'd have a little more credibility if you at least waited until it has played out. We are hardly at the end here, despite what many here claim.
Stu
Like you said Raw... this is lightning striking twice in the same place. That place is sub $2! And if it ever strikes there again, I'll be back hawking my valuables to pick some up.
Stu
I realize now why so many people here get bent out of shape regarding permitting and timelines. It's just a combination of poor mathematics and english skills.
For example, the phrase "the acquisition is anticipated to be officially consummated in the second quarter of 2010" contains the English verb anticipate, and the timeframe second quarter 2010.
A quarter of a year (which is 12 months) is 3 months. The second quarter is therefore month 4,5 and 6, and the 6th month of the Gregorian calendar is June, which has 30 days even in a leap year. That means that the the date referred to is the 30th day in June.
The verb "anticipate" means, according to the US English Thesaurus that comes with MS Word 2007, to expect, predict, or be hopeful of. That implies that the 30th day of June may indeed come to pass without any agreement.
I hope this information helps to reduce the number of times people ask when or if this acquisition has been made public and/or consummated.
I can confirm that the exhaust pipe had no scrubber or filter.
And for the record, when I saw the filter-less stack first hand, I literally fell over and passed out. I am still in shock actually, now 4 weeks later, but talking about it openly like this helps. That's what my shrink has encouraged me to do.
JBI has consistently stated 20 metric tons/day, so it's safer to use that as a benchmark. Admittedly, it's very conservative.
At $75/barrel, that works out to $280k (revenue) for one month if they run every day. Of course they may choose to "stretch her legs", in which case it could easily be 3-4 times that.
S.
Agreed... processing tires has a huge potential. From what we have been told though, the first generation processor (and catalyst?) will be optimised for plastics. Processing tires will include the recovery of carbon-black, wire, and even some rubber polymers that are worth more on the market as is. We were told this is not yet JBI's focus, though clearly with the incredibly accessible stockpiles and the environmental and health hazard they pose (health esp. in equatorial regions.. mosquitoes, disease, etc.) is some very low-hanging fruit for Plastic2Oil.
Stu
That's simple ... plastic is made from hydrocarbon chains.
Plastic2Oil cracks those chains at a specific length (see JBI quote that "up to 85% is selectable fuel").
Oil, diesel, methane, gasoline, wax, etc... these are all petroleum products. Diesel is the fuel with the highest energy density, which is my guess why JBI talks about it as the output of choice.
Stu
If so they're not exactly getting a good deal. From the article, it would appear that the author is completely clueless -- as much so as many who post here.
When I was instructed to look into this company I couldn’t wrap my head around the plastic to oil concept. But apparently it is possible, using an unnamed chemical catalyst.
Uh, well since P2O has been around 50 years, and since plastic is made from petroleum .. it's not exactly a stretch.
Should they receive revenue traction the Plastic2Oil initiative could be the company’s biggest contributor to top line growth.
Could be?
Thank you. Thank you very much.
My money is on the latter. Or should I say, my money is not on the former.
Stu
I won't tell any specifics about JBI staff, but all the shareholders I met at the AGM had some serious neck-hair standing straight up.
Must have been the excitement of the event!
S.
Yes, Scion... let me spell it out for you: I hereby declare that I have access to information conveyed to me via person-to-person contact with JBI staff and board members by means of facial expressions, voice intonation, eye movement, posture, hand gestures, and neck-hair, that has not, to the best of my knowledge, been made public.
By using this information, in addition to other factual information that has been made public, I was able to make educated decisions about the company and its prospects, and consequently I have bought JBI shares no fewer than 25 times at prices as high as $5.75.
Happy?
Stu
Of course we do -- naturally!
I, and all other shareholders who have had the distinct honour to meet John Bordynuik, Amy Bradshaw, Jacob Smith, Al Sousa, Steve Seneca, Judith Vazquez, John Wesson, Robin Bagai, and others, have an intimate knowledge of the genuineness in their facial expression and voices when they reply to question about P2O and the various businesses. This is not something the general public has access to as it comes across differently in a PR or a recorded conf call.
Ironically, we are the ones holding all our shares, and who believe in JBI. All of those who doubt, have (I would guess) never had access to this information.
Stu
The drop of the euro can only mean good things for Chinese consumption of Spanish and French wines (and/or GDHI's margin). But indeed if the EU has less of an apetite for Chinese-made toys, then they'll be fewer Chinese middle-management buying European wine.
One trend I don't see reversing is the consumption of foreign goods in China. The pace of growth may slow, but I cannot see the actual growth stop. In that case, GDHI still has plenty of leg room.
June's conf call will be very interesting, and sets the pace, IMO, for the rest of the year.
Stu
Although they've given clear (and I would hope conservative) guidance on 2010 revenue/earnings, they have never disclosed the details of the multiple contract they've recently closed.
If they are all on top of the guidance already given, we're in very very good shape.
Perhaps when they log a profitable quarter, this company will get some well-deserved spotlight time!
Stu
Cereplast just keeps the good news coming. I cannot understand why the share price wallows down here.
All I know is that patience is an investor's best friend. And with this company, I have plenty of it. The fundamentals are very good, and the market potential is excellent.
By early 2011 this company will be in full gear!
Stu
I forgot one: I believe I managed to pick up some more at $1.80, and I believe I already see a new "unrealized gains" line-item on my portfolio.
And I believe they will stay as such.
Huge opportunity. That's what I believe buying JBI shares at today's prices is. It's incredible... almost as good as last summer when only a small group of people were in the know.
And while I cannot (obviously) predict what the share price will do in the short-term, I believe it's a very good long-term investment.
Consider for a moment all the people who know JB, have spoken to him personally, or to the JBI board or employees. What percentage of these people believe that JBI will succeed? Now consider all the people who believe JBI's P2O is a hoax, or will never work as advertised. How many of them have ever met JB or spoken to people on the board?
I think the answer is clear. Now ask yourself who you'd rather believe.. those who are close to the company, or those who analyze JBI like any other penny-stock chart?
I choose to believe. I believe that re-stating financials is a good thing for the company, and I believe the auditors (and/or NASDAQ) insisted upon doing it. I don't believe it will unearth anything that is grounds for a lawsuit either. I believe that none of PIPE investors was influenced by the book-value of the media credits. I believe the CEO deserves a modest salary when DEC permits are issued, and I believe his options carry a strike-price that shows the level of trust he has that JBI will be very profitable.
In short, I believe. And if you do too, I believe you will be rewarded.
Stu
Whatever the cost to JBI and the shareholders, it's worth doing if it helps to undo some damage (if there was any) and/or build confidence with investors and exchange committees.
Again, it's a commendable step to have taken, but on iHub instead of being heralded it receives mainly condemnation. Not by shareholders, but by shorts or people who believe JBI has been lying about their technology all along.
This is not a good place to discuss this company anymore -- it is too emotional and polarized, and filled with people with agendas.
Intelligent debate is dead. Long live intelligent debate.
Stu
Some guesses are worth more than others, I guess.
No, I don't think the offering needed to disclose something as obvious as that in order to sell stock of an OTC listed company, that you'd need a brokerage account that trades OCT stocks.
We hold these truths to be self evident.
I think it's normal that this company need operating capital, and encouraging to see founders returning at least a many shares are were used to raise the capital -- it means shareholders don't dilute. To me, that is reasonably considered "adding shareholder value" as long as it doesn't continue forever.
From what I can tell by listening to the interviews, Frank is a straight shooter and appears to be a very honest and driven person.
s.
Sounds like a fellow European who has done his homework. Glad to hear from you Steve555.
Likewise, I've done a tremendous amount of research on competing technologies, and JBI's is a hands-down winner if it's everything they claim.
I was lucky enough to get out despite the ash cloud for the AGM and P2O tour -- well worth the trip. I'll PM you as I'd like to chat off-line.
Stu
it is a typing error
(Hey, and in only 5 words to boot!)
And you think that the DEC will issue a permit for a process that is an illusion, just so the CEO can take a salary? Maybe they are in on the scam like IsleChem, URS, and the new and old auditors.
you're wrong.
Sorry, bueno... but I don't know the address of the facility. I was there on the Sunday tour after the AGM, and we all got on the bus in Niagara Falls NY, and it drove for about 10-20 minutes, but I wasn't keeping track of where we went.
Regardless, JBI has said that the permits have not yet been issued to them yet, and that the DEC has allowed them to run tests provisionally based on the site's existing permits (held by the prior owner of the land). I don't know anything about the type of permits they had.
Permits are due soon, and you can be sure there will be a big hoopla about it. You can also be sure that the shady characters here will come out to claim that's its all lies. And then when P2O revenue shows up on the 10-Q's, they'll claim the books are being cooked. Scion him/herself yesterday made a direct claim that JBI was committing fraud and submitting false financial results to the SEC. Clearly some people lack perspective. It's really too bad because this is such a promising company and many people will fall for the b.s. posted here and miss out on the investment opportunity of a lifetime.
http://tinyurl.com/scion-blows-the-whistle
And good for you not reading all the posts here.. as you can see most of it is drivel anyway.
Stu
Yes, this has been covered before -- the permits are filed under a different name than JBI or Plastic2Oil, I believe in order to protect the location of the site.
This fact has drawn fire before from skeptics who claim that such actions smacks of a scam. But clearly none of the people who would claim that have visited the site and seen the processor in action.
Why do you believe the DEC permit is delayed? Was there a statement somewhere where the company has set your expectation that this would be done by now? I haven't seen one, so I'm quite content to wait. I cannot imagine such things happing in only a few weeks.
My opinion is irrelevant, and anyway nobody can truly link hype or fear to the rise or fall of a stock price. Emotion is not rational... it's about perception. If I were in the same situation (i.e. had worked my heart out for months on a break through technology) and people were bashing my claims saying they were exaggerated or untrue, I'd be pretty upset. If I were rational, it wouldn't bother me. But people are by our very nature, emotional creatures.
But then again, I was rational enough to pick up some more JBI shares at $2.95!! Lucky me.
S.
I'm guilty. I sent unsolicited e-mails to my friends & family in an effort to recruit new shareholders.
I think EP is guilty too.
And then there's Zardiw who sent me one last year and we'd never even met!! Funny thing is, I'll be thanking him for years to come.
And I agree with that. Except that I don't see it as JBI relying on anonymous posters to spread the word -- that's their own initiative.
But being completely legit is IMO the main reason why an emotional response is given when people cast doubt and spread fear about the legitimacy of the company or its technology. Especially when such misinformation huts the company (like their ability to uplist or raise funds because of a sell-off of the stock cause by this panic).
I'm certain this will soon be all behind us anyway, and the company can focus on the "normal" growing pains & challenges that every company faces as it transitions from start-up to growth and expansion.
Stu
Did you see his strike price? It's almost $5, so he only profits from shares worth more!
Again.. resounding endorsement of his confidence in P2O's success, and an excellent confidence-building measure toward his employees and shareholders!
My hat's off to John Bordynuik.
Ha, yeah. Also, the measly couple o' grand that I have in my RRSP now buys me more JBII. I sure hope the PPS wallows down at these levels until the uplisting so I can grab more on the cheap!
Nobody can deny, not even the bashers and non-believers, that the founder & CEO not getting paid anything (well, $1/year) until P2O is permitted is the best endorsement you could ask for.
There simply aren't many companies around whose management offer their shareholders that level of commitment and instil that much confidence in the technology and delivery.
Good for JB -- I'm sure he's gonna see his first paycheck pretty soon, or there would be no point even drafting the contract.
PPS can drop to $1 for all I care ... fundamentals here haven't budged, nor has the potential upside for holding long.
Stu
Agreed.. and my take on that comments was not that they will suppress releasing material information, but simply avoid creating any, if possible, that would require releasing. It seems logical to me that if they're close to being accepted to a senior exchange, they'd want to keep things stable until it's done.
Of course some people see only what they want to see, and have interpreted it altogether differently.
Just to use your example... and I don't know anything about the construction industry per-se... but if a permit is issued by city hall for a certain type of construction on a piece of land, does it matter which company undertakes the construction?
It's certainly not the case for building houses in France where I live.
Here, once the permit is issued (which specifies size, shape, technical specs, and location), any constructor can build it.
Either way, I'm quite sure JBI isn't running their processor illegally, so I'm really not sure what the argument is about. Clearly the DEC permits required the machine to be operational, so they're aware it's been running.
With production permits and a few more processors installed, the world will finally see how good or bad Plastic2Oil(TM) is.
Stu
No, but I think that "borrow" is perhaps the wrong word.
I don't really have to prove anything to anyone "without question". I'm happy with my DD, and having looked into permits for P2O in Europe, I can say with 100% certainty that you don't necessarily need a new permit to operate such a machine if a similar permit exist at the same site.
Does a rock band have to get permits to emit 120db of noise until 1am for every place they play, or does that permission come with the stadium they play at?
I think it's just about how you phrase it. That said, I personally don't have any knowledge of the "permission" JBI has to run anything anywhere. This is all theoretical.
Stu