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I've only seen ref to 90/10's on John's FB account; he was discussing rev-share options for the JV's, and indeed he implied wanting to do 90/10 splits funded by JBI. But if I recall correctly, it was only when/if they could raise money at a much higher PPS.
Stu
10-Q is out: http://www.sec.gov/Archives/edgar/data/1324759/000095012310030982/c98214e10vk.htm
Positive Highlights:
Gross profit increased by 321%.
Gross profit margin increased by 10.5%.
Total Operating Expenses decreased by 57.0%
Net loss decreased by 52.4%.
We expect to see positive cash flows by the end of the third quarter of 2010 due to our restructuring efforts in 2009 and the start up of continuous production at our new bioplastic facility in Seymour, Indiana and subsequent consolidation of all core manufacturing to this location as of March 1, 2010.
Looks like they are making some great progress with their cost-cutting, and that we won't see the full benefits of those 2009 contracts until later this year. If they can keep their heads above water just 2 more Q's, it should emerge a lot stronger.
I like this company a lot, and its prospects for the next few years too!
Stu
Roll-out costs are entire borne by the JV partner -- remember JBI doesn't pay a nickel for establishing a site. That's the beauty of their model (as opposed to Envion and others).
Also, the cost of buying the processors more than likely covers their construction AND the "expensive" URS guys to install & built it.
So it won't cost JBI anything to roll-out, except for their own sites which they are planning for NY state.
Smart eh?
Manufacturing speed was 1 processor per day with 30 (or 40?) days lead-time (for the Chinese mauf. at least). Installation on-site is on top of that ... welding, assembling, testing, etc. I would guess 5-10 days more?
And yes, URS designs & builds some very impressive, complicated multi-million dollar industrial sites. I think a 600 sqft single-tank P2O processor would almost bore them
Stu
(Please don't ask me for links.. this is from my head which contains 9+ months of DD and reading this board. I remember the numbers, but I cannot tell you where they come from unfortunately)
They could do that, and/or may already be doing that. But what they've announced so far is 45 sites in Florida via a single JV, a handful of individual JVs in other states, and that they have 3 or 4 JV applicants from Europe already in-progress.
That said, I'd bet they're fast-tracking the applicants who either have existing facilities and connections to be able to rollout P2O fastest, and/or doing more ADAs (like Florida) which will allow them to divest themselves of all the work required per site.
As for keeping up with the orders -- what a great problem to have! But I recall that the Chinese manufacturer (as a reference, since I think they're not married to them) said they could produce 1 processor per day with a 30-day lead time. If that pace become the bottleneck, then it's a massive success.
As for the installation of the processors, URS is an extremely large organization with a presence in every country I could name. They seem to have this well thought out IMO.
Stu
It's not just the higher yeild that contributes to the profitability of P2O here.
. yield 10-15% higher = more oil revenue per ton
. speed of processing 20 tons is a couple of hours (lower staff costs / ton)
. footprint of 60m2 vs. 400m2 = lower warehouse rent/cost
. solid waste toxicity means landfillable, no expensive disposal
. net energy used is negative, some competitors require $500/day for power
. accepting PVC and PET means up to 20% more plastic is available
. fuel quality output should fetch a premium
All of these can add up to a single "site" netting over $1m / year more than a competitor's site. Do your own math and you should arrive at roughly the same number.
And the real kicker is the low up-front costs of the processors, vs. $3-5m from competitors. They pay for themselves within weeks.
And actually that's not even the kicker.. it's their entire JV approach which is made possible because the up-front costs are so low, and this will help JBI establish a huge footprint quickly -- something no other competitor can do!
This is going to be an exciting next few months folks. Hold onto your pants (and shares).
Stu
It surely must be a modified one
Here's our competition folks...
Now THAT's what I call doing your homework.
Too bad others here are nearly as thorough, and don't actually take the time to speak with anyone with answers.
Nice job Z!
Gosh, if so, they're in deep trouble. According to SteveF, P2O isn't even a profitable business. I wonder how it is these guys stay in business building p2o equipment!??
I didn't know anything about this company 2 weeks ago, so of course there is a chance I'm wrong. But all we see on this board are people saying "get in the know" -- nobody has offered hard proof any of this is real. I did my bit, and I uncovered ZERO proof about the validity of the Swiss VC. Others have offered their DD on the South African company too, and it doesn't look good.
Nobody has shown proof this is anything real. But I'm open to being proved wrong.
I guess I should put the all-familiar "IMO" disclaimer, but that goes without saying as I'm not an insider.
S.
Agreed 110%. I actually don't like Facebook at all because of that. 90% of the stuff is clutter. Is a "fan page" clutter-free?
I'm on FB for 1 reason, and 1 reason alone: John Bordynuik's page. If I could have access without an account, I'd never login again.
The information the is posted there "as it happens" (Congo trip, China Pak-It launch, NYC trip, etc.) are important to investors who have a significant position in the company. If I weren't such an investor ... I might find the FB page a little off too I suppose.
Stu
Sure, you jest? Between Facebook fan-pages, Twitter, MySpace, blogs and the like, I'd argue that virtually every legit company does act this way -- i.e. has an Internet presence that is not their corporate website and yet provides insight into the company and/or members of the MT.
Welcome to the 21st century SteveF, you need to do some catching-up.
Legit companies don't act this way.
Folks, this one's about as shady as they get.
Put simply, there is no VC called Empres Voss in Switzlerland. And "Hindelberg" is not even a Swiss name (there are none in the Swiss phonebooks, not one), and "Josh" for that matter is not very German either (or French or Italian).
So clearly there is "nuttin" worth investing in here -- just smoke & mirrors.
If you're in, I'd sell before the lights go out if I were you.
S.
Agreed. But given the (lack of) volume of posts here, I don't expect there are many people able to do that DD. We have a South African resident and a Swiss one who've come up empty. Clearly these two people cannot visit the Beverly Hills office.
But Seth, if they were for real, why don't they answer the phone or reply to e-mails? I've tried both, AND cannot find any record of their Swiss VC.
If you have DD .. like I said.. share it! If you have spoken with the board members, then spill the beans. But if you just continue to say all this work is "pathetic" then you're only feeding the doubt.
Stu
Between 2005 and now, Mr. Goldberg was digging for gold, it would appear..
http://ih.advfn.com/p.php?pid=nmona&cb=1269621275&article=41707562&symbol=NB^AWDM
but with JBI he seemed to have struck oil instead!
You're doing a bang-up job Rev - keep up the superior investigative work!
anyone have L2 ask?
Seth - Fidelis has issued a series of press releases claiming they have:
. raised $30m from a Swiss VC
. signed a $18.4m contract in Greece
. signed a $275m contract in South Africa
And they've chosen to de-list the company from the stock exchange so they don't have to go on record with any details and file anything with the SEC such as shareholder details in light of the VC investment.
The Swiss VC doesn't have a phone number with the Swiss phone company, cannot be found in the Swiss yellow pages, and no reference is found to them anywhere on the internet except in the Fidelis PR. Surely they've invested in at least one other company and that was PR'd over the Internet?
A fellow iHubber who lives in South Africa already informed us that the company the deal was done with there appears to be closet company.
And Greece? Who wants to do business with Greece these days?
Of course I'm open to be proven wrong. Rather than just claiming this DD is "pathetic", why don't you share some of your own DD results?
S.
Kidd shares were from when TRTN purchased Javaco (November?), not when JB purchansed TRTN (April).
These are two separate events.
Stu.
Cereplast hires sales, marketing veteran
Cereplast Inc., a manufacturer of proprietary biobased, sustainable plastics, has appointed David J. Homyak as West Coast regional director, sales and marketing. He has been an executive level sales professional for more than 30 years. His numerous successes in the plastics industry include leading a 210 percent business growth over a four-year period while serving as western business region general manager for General Electric Plastics; the development of 20 million pounds of product growth in new market opportunities for PolyOne; and his efforts to put Spectra Color on a course to exceed its sales goals by $50 million by 2012.
http://www.biomassmagazine.com/article.jsp?article_id=3582
Good one Stocker!!
wE - If the tests come back negatively for the JBII processor would you believe Islechem's findings?.
I once took a driver's test with a driving instructor. He wasn't working for me, but I guess you can call it an affiliation. He gave me tips and told me where to drive.
Then he gave me a certificate stating I had passed.
Are you telling me I am not really licensed to drive?
I'm so disillusioned!!
The extraordinary evidence has been pouring in since November last year; I'm sorry you missed it.
Extraordinary revenue will be recognized in the coming months, and it represents an extraordinary opportunity to get in now.
Scientific tests are conducted blindly. Confirmation bias is all the rage these days
And how do you expect IsleChem to verify, measure, and help fine-tune the processing without "working closely" with JBI?
They are an independent firm with their own reputation at risk should they publish something untrue.
Seems like you're simply setting stage to claim that when it does hit the newswire you can say that "this isn't proof" and feel good about yourself.
But other than state-certification, what more do you honestly expect them to provide to the public, other than P2O revenue?
And will THAT even be enough for you, or will you claim they're cooking the books?
That link you show was about FDEI back in 2007, but wasn't it then acquired (as an empty shell) in late 2008 by the current shareholders, into which they merged this solar PV patent and tried to drum-up some business?
Either way, the prospects appear quite dim, and this appears to be just smoke & mirrors IMO.
If anyone feel differently (with data to back it up), please can you (re)share your findings?
Stu
I did some searching around on this stock over the weekend -- I cannot find any information on the South African company ($247m contract), the new appointees to the management team, or any information on the Swiss VC they raised money from a while back (and I live in Switzerland).
It just seems like a phantom company with phantom PR's to me. I haven't gone thru all the old posts, but if there are some good DD links there I'd like to see them.
S.
I agree!
JBII has truelly [sic] scored with a marketable and in demand green product
new business will start to come in and the SP will justifiably rise according to demand and execution of contracts
It's quite obvious that everyone who invested in the PIPE and agreed to the mandatory 6-month sale restriction was very bullish on this company and clearly believed in its long term prospects.
If not, to be locked into holding a significant stake in a "scam" OTC penny stock, seems like the stupidest thing you could do to make a quick buck. It could well have dropped below the PIPE offering price (if it were a scam) before the 6 months was up.
I think these guys will be holding on very tightly to their share certificates for at least 2-3 more quarters.
S.
Will you go on record predicting the number of people attending the AGM? I say less than 15 (excluding insiders).
Interesting article on voluntary de-listing (or "going dark"), such as Fidelis has requested on Feb 22.
http://www.dorsey.com/going_dark_voluntary_delisting_deregistration/
According to that article, some of the advantages of doing so include:
. The stock will continue to trade on the Pink Sheets.
. Less public scrutiny and disclosure, making it easier to keep confidential such matters as competitive business information
. The company will have greater freedom to explore possible extraordinary corporate transactions
And one of the disadvantages:
. Many companies which go dark are sold or cease doing business within a few years after going dark.
S.
Seems GE is also betting on cadmium-telluride thin solar cells.
http://news.cnet.com/8301-11128_3-20000695-54.html?part=rss&tag=feed&subj=GreenTech
Malaysia-based Pure Circle (www.purecircle.com) offers a NHIS (natural high-intensity sweetner) called Reb A derived from the Stevia plant.
It's a is zero calorie all-natural sweetner, 200x sweeter / kg than sugar, takes 1/3 of the land crop space to grow (and thus water, staff, etc.), and has a low glycemic index.
More info here: http://www.reb-a.com
The company has invested a lot of money in production, refining, and infrastructure, and have signed some great pilot-clients like Pepsi and a recent JV with Imperial Sugar.
Last FY shows net earnings of $11m on $60m of revenue. 2010 should be higher and with less capex. Next quarterly earnings due on on Monday March 22, 2010.
Current price is quoted on the AIM in London as GBX (GBP pence, or 1/100 of a pound sterling). Price as of this message is 235 GBX, and a P/E of 47.
I can confirm that the French company Tenesol does indeed exist and has been selling solar PV panels in Europe for some years. They are legit.
As far as I can tell, however, they have no operations in South Africa.
So Tenesol is not TinSol.
S.
Via skype it took me 12 attempts. Keep trying.
Jagman, do you care to cite an example of a contract between a public company and a private one, where the terms are published for all to see?
Seems like you're grabbing at straws my friend.
S.
You're right, LOI is "intent"
But an "Agreement" is another beast.
Follow the sequence, and tell me what you believe is the secret meaning behind these:
Dec 22: JBI signs LOI for an ADA for 45 P2O sites in Florida with Al Sousa
Feb 12: JBI Executes ADA With AS PTO for 45 Sites in Florida
Feb 12: AS PTO Enters Into JV/License Agreement With ES Resources for First P2O Processing Site in Florida
S.
Wow, here's a good definition of "consummate":
http://www.blurtit.com/q624220.html
I'm convinced!
No, this is funny: an interview and demo of the Blest (Japan) p2o machine.