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the premelt allowing for more plastic to be processed? i can certainly understand how that is a good thing...
The stock doesnt have much to show but the company and the process seem to be doing just fine...
JB hasnt been convicted of fraud...
only bag investors will be holding is a bag of money from their ROI in JBII
I know for a fact JBI has access to the rail cars... another issue squashed...NEXT!
"IBM, Microsoft et al went from virtually no assets one day, to $10MM in assets the next"
who said this suit is going to take one day? there have been plenty of companies that have made a ton of profit in two years. how are you missing the point that these companies are big names, received wells notices and are doing fine? JB is being sued for accounting fraud... not a ponzi scheme... can you comment on your thoughts of converting plastic to oil?
you sure do use the word "scam" a lot... do you think that the conversion of plastic to oil is a scam? just want some clarification
This Wells Notice debate is really overkill at the moment... as speculated before this will probably take a couple of years giving JBII some time to show significant progress. This is obviously not good for the company however, two years down the road i believe the reins can be assumed by someone else if need be. I believe in John/P20 and would like for him to stay on board. The one thing that isnt topic of debate recently is the process itself. Which as an investor if the only reason people are calling this a scam is because of a known/unknown accounting mistake then my confidence remains strong. I believe JBI losing the suit in the next month or two would put a massive strain on the company. i do not know how companies are required to pay their fines. i wouldnt mind knowing that info if anyone has it. I certainly dont see this being the case. One thing is for certain... if JBI is going to succeed then progress needs to be made this year. With so little news over the past couple months i dont believe they are just sitting on their thumbs and spinning in NF. If i lived in the area id be hounding them to visit the facility weekly. The talk of JBI being a scam is laughable. If this was a scam John is smart enough to have run a ponzi scheme. At least he would have time to spend peoples money before he was caught.lol Running a P20 scam would have a short life and not worth the little cash he would have received. Mistakes have been made but P20 itself is for real. People have been to the facility and seen the process. Lets keep the "scam" bs to a minimum bc people saying it dont really believe it...
i figured when i want to talk to those guys ill just cut an paste a long ass comment from brig, raw, or z
that has been considered... bahahahahahha
i was banned indef... but requested reinstatement... trying to go 2 weeks without a delete... lol
i get that impression too... but info on specific individuals or firm?
you believe you know who filed the complaint against jbi with the sec?
i believe they were removed for being off topic... i dont think anyone disagrees the SEC isnt trying to protect current shareholders... but fraud occurs on different levels... all wells notices shouldnt be compared as such
when i get my 2 posts ban lifted ill be reposting that... lol
comparing enron to jbii? give me a break. what kind of moron even tries to make that comparison. enron cut power and victimized millions to make money. john made an accounting error. "IF" he knowingly misrepresented those media credits it still wouldnt be comparable. someone please let these clowns out of the car!!
http://www.google.com/imgres?um=1&hl=en&tbm=isch&tbnid=-spHrBymEXyxvM:&imgrefurl=http://wescribble.latestmobilephonesuk.com/content/clown-car&docid=eLQHpqOyYuS_RM&imgurl=http://wescribble.latestmobilephonesuk.com/sites/default/files/imagecache/big_catalog_image/circus-clowncar-coloring-page.jpg&w=438&h=400&ei=sGsTT8_lAYqsgwfE4uHAAw&zoom=1&iact=hc&vpx=717&vpy=135&dur=4892&hovh=215&hovw=235&tx=133&ty=107&sig=114410824482860962606&page=4&tbnh=121&tbnw=132&start=62&ndsp=21&ved=1t:429,r:4,s:62&biw=1280&bih=619
Tech- i read nearly all of your posts and i'd say i agree with you 90% of the time. You are one of the few that articulate your actual thoughts. You've been to the company and seen what most on this board have not and still present on the fence perspective. I highly respect your opinion.
*CANT BELIEVE SOME FOLKS HAVE BEEN IGNORING THIS!!!!*
JBII Progress and Concise OverView
Recent Progress:
1-9-12: $2.8M Financing Secured
12-23-11: Transport Fuel (Regular, Premium, Diesel) supply agreement with XTR Energy
12-21-11: Long Term Fuel Supply Agreement with Indigo Energy
1. Shareholder Equity: $5M
2. P20 Revenues
Q2: $81K
Q3: $141K Revenue Gain: +73%
3. Net Loss:
Q2: $4.5M
Q3: $3.3M: Losses Down 27%
4. Cash On Hand: $2.4M
5. For the three and nine month period ending September 30, 2011, P2O gross margin performance was approximately 83.6% and 77.2% respectively (2010: N/A).
6. JBII is an alternative oil and gas company that converts waste plastic into fuel; primarily diesel, #2 fuel oil, and #6 fuel oil.
7. In March 2011 the Company completed the acquisition of the facility in Niagara Falls, New York where its 20 metric tonne (“MT”) P2O processor is located. On October 4, 2011, the Company paid out the outstanding mortgage for the facility.
8. In addition, on October 27, 2011 the Company was permitted by the city of Niagara Falls to erect a 7200 square foot building on the Niagara Falls, NY property. The foundation has been poured and a prefabricated building has been purchased. The Company anticipates construction to be complete at the end of Q4 2011. This building will house the Company’s fabrication operations.
9. The Company plans to move its fabrication unit from the existing facility to the new building shortly after construction is complete. The construction of a secondary location for fabrication was imperative as it will allow the Company to continue manufacturing processors without interrupting operations and fuel production going forward.
10. The Company focused resources in Q3 on finalizing and completing the construction of the premelt system, ordering components for and fabricating processors #2 and #3, and initializing site preparation for the rollout of processors at the first RockTenn site.
11. The Company expects to finalize fuel supply agreements as soon as anticipated fuel demand from prospective customers can reasonably be met.
12. Management’s highest priority continues to be bringing processor #2 and #3 online so the Company can become cash flow positive.
13. Patent: The Company has filed confidential patent applications with the USPTO to protect its intellectual property.
14. The Company continues to strategically build the foundation for its Plastic2Oil business that it expects will create long-term value and a profitable business.
15. The completion of the premelt was critical to the efficiency of commercial operations and expansion to third party locations.
16. The Company continues to be successful in securing free sources of feedstock supply for the processing plant, both independently and through its recycling facility that accepts, separates and processes paper, plastics and other materials.
17. The Company has also constructed tank containment in New York, which added 49,000 gallons of on-site fuel storage in addition to the 250,000 gallon fuel blending site in Canada. This extra storage will support growing operations and fuel transport flexibility in Niagara Falls, NY.
18. On July 29, 2011, the Company entered into a Revenue Sharing Agreement with RockTenn to convert mill and MRF waste plastic into fuel using JBI’s Plastic2Oil technology. Prior to executing the Revenue Sharing Agreement and Addendum for the first site, JBI visited numerous RockTenn sites to plan installation priorities. The Company has been meeting regularly with RockTenn representatives in order to prepare for the first installation of processors on their site. The Company met with environmental authorities in the state where the first processors are being placed. Due to the ultra-low emissions from the Company’s P2O processor, the Company sought a permit exemption. During September 2011, the Company proposed and submitted an application for exemption and met with several of the State’s environmental engineers. The Company also presented before the environmental committee composed of citizens, environmental engineers, and permit engineers. The Company has retained contractors to install services on site at the first RockTenn location. The site has an existing pad and small building already in place, which will be used for P2O operations. In preparation for the construction of the first processors, the Company has hired and trained new operators and fabricators in Niagara for future relocation to this initial RockTenn site.
19. The Company expects to have the kilns from fabrication shops for processor #2 and #3 in Niagara Falls, NY by the time the final stack test is conducted in December 2011. Catalyst towers, heavy fuel, naptha and natural gas towers for both of these new machines have already been constructed.
20. P2O Processor Enhancements:
Q1: The Company’s CEO designed further enhancements to the P2O processor in early 2011, including two columns supporting 4 catalyst trays. In addition, he added significant technology to guarantee fuel quality, along with installing an inline fuel additive injection system on both heavy and light fuel condensing systems. He has also engineered a hot-tap residue removal process. Quality control includes two columns for control and specificity of fuel fractions, a cyclone (particulate removal in vapor), fuel filters (particulate removal in liquid), and a centrifuge (additional redundant particulate trap), as well as column enhancements to guarantee particulate free fuel. Fuel additives are injected inline while fuel is being produced to increase their effectiveness. The new residue removal system works while the processor is running, so the reactor does not have to be cooled down or stopped to remove residue.
Q2: During the second quarter of 2011, the Company built a fully equipped fuel testing laboratory at the Niagara Falls, NY site to facilitate instant certification of fuel products. The P2O processor is capable of producing #6 fuel, #2 fuel, diesel, and light naphtha. The Plastic2Oil processor has been tuned to reduce naphtha production to less than 2% because the market price for naphtha is significantly less compared to #2 or #6 fuel and therefore the Company does not intend to make Naptha contracts a priority. The Company’s management has invested much time, testing, and production efforts towards large companies to execute significant contracts such as RockTenn. During the first quarter of 2011 the processor was primarily used to test feedstock from large sources of free waste plastic in order to pass "Cradle to Grave" audits from feedstock to end user fuel. During the second quarter of 2011 the Company designed and engineered a premelt loader for the Plastic2Oil processor to eliminate handling, shredding, and bagging of waste plastic. During the modularization of the processor, the CEO was able to eliminate the off gas compression system in favor of a simplified low-cost off gas handling rack (4’ x 4’ x 4’) for better control and at 1/5 of the cost. The cost savings through modularization has been used to offset the cost of the premelt loader.
Q3: The Company successfully designed, engineered and fabricated a plastic premelt system. The premelt system is now capable of accepting mixed, un-shredded plastics in addition to plastics that are comingled with various metals. The premelt system operates from the waste heat of the original P2O reactor system and has the ability to separate the comingled metals from the plastic. This capability became especially critical for processing RockTenn material such as raggertail, as well as other large bales of compacted plastic. The raggertail was demonstrated to be successfully processed during a visit by RockTenn representatives and will significantly increase process efficiency at RockTenn sites, as well as alleviating a great deal of sorting efforts from many of the Company’s current and future plastic feedstock suppliers. In addition to the completion of the premelt system, the Company further enhanced the New York processor by installing Low Nox (Nitrogen Oxide) burners. This addition will further reduce emissions and was important when seeking permit exemptions in other States. This improvement enabled the Company to seek an air permit exemption in another State, eliminating many months of extra work and cost.
The Company became able to dye its own fuel thereby eliminating the need to blend or have 3rd parties perform this service. These changes, in combination with a declining number of test runs required for base-lining emission and other fuel standards tests are expected to result in continuous performance and enhanced throughput.
21. B2B Agreements:
On June 10, 2011, JBI, Inc. entered into a Supply and Service Agreement with Coco Asphalt Engineering, a division of Coco Paving whereby the Company has agreed to supply Coco on a weekly per demand basis with petroleum distillate at a cost of $109.80 per barrel. The Company continues to ship tankers of petroleum distillate to Coco Paving in third quarter at $109.80 per barrel. Coco Paving has stated it is pleased with our Plastic2Oil fuel.
On July 29, 2011, the Company entered into a Revenue Sharing Agreement with Rock-Tenn Company (RockTenn) to convert mill by-product waste into fuel using JBI's Plastic2Oil technology. Under the agreement, JBI, Inc. has an exclusive ten-year license with a renewal option to build and operate P2O processors at RockTenn facilities to process RockTenn's waste plastic at paper mills and Material Recovery Facilities and to mine and process plastic from RockTenn's plastic-filled monofill sites.
22. Processor Production:
The Company has contracted two fabrication shops to manufacture the reactors and towers in racks. The Company has also ordered a prefab building for its P2O factory property for fabricating proprietary and trade secret components for the racks. The racks have been standardized to limit the number of parts and vendors in the supply chain that the Company must depend upon. Transient delays in Q3 were related to supplier companies being bought out, moving, or ceasing operations. The Plastic2Oil processor system is now 10’ wide by 120’ long. On November 15, 2011, the Company was granted Honeywell Maxon OEM (Original Equipment Manufacturer) status. This certification will allow the Company to order and receive key processor parts on a priority basis. It is anticipated that this will save the Company significant time and money moving forward.
23. Free Plastic
The Company receives free waste plastic for our Plastic2Oil processor(s) from Chrysler, General Motors, major food packagers, dairy companies, agricultural plastics, and many other sources. The company is recycling thousands of gas tanks, bales of plastic film and many other free plastics that are usually sent to landfill. The Company does not pay for any plastic. None of the plastic that the Company has received to date at the P2O factory has required sorting. The Company continues to receive large supplies of plastic feedstock at both its Niagara Falls, NY and Thorold, Ontario facilities, and retains a significant backlog of feedstock. The Company anticipates continuous processing of this supply upon completion of the second stack test and assembly of processors #2 and #3.
24. China Regulatory Implications:
In August 2011, China implemented regulations that greatly limit waste plastic importing. The regulation strictly limits waste import licenses and the waste plastic product must be used as a raw material in a new product. This regulation was implemented to curb pollution caused by burning waste plastics. As of November 2011, the regulation was tested and enforced in Guangzhou province and it successfully resulted in reducing waste plastic imports by 80%. China warns that strict enforcement of the new regulations will soon be extended to the entire country. The Company expects this regulation to be very beneficial in securing long term feedstock supply.
25. Tape Recovery Business:
In 2009, the Company purchased the Data business from John Bordynuik, Inc., thereby providing the Company with the ability to operate what was once John Bordynuik, Inc.’s data restoration and recovery business, a business originally developed by John Bordynuik in 2006.
The Data Business is not as financially intensive as the other businesses of JBI, but is time consuming with regards to the allocation of the time of John Bordynuik, the President and CEO. However, the Company continues to maintain operations of this business segment and has received several thousand tapes for reading and data preservation. The Company expects to be generating revenue from the Data Business segment in future periods.
26. PakIt:
Despite these measures actual and anticipated revenue and profitability performance at Pak-it failed to meet expectations and the Company determined that a selective divesture of Pak-it’s assets was warranted in order to focus on its P2O segment. During the second quarter, sale criteria in respect of certain assets of Pak-it was developed and active marketing commenced to sell these assets.
z
There sure are a lot of people that are in on this scam huh? LOL!!!
In the words of Rawnoc, "you'd have to be insane to call it a scam at this point."
JBI Fuel Buyers:
XTR Energy (largest and fastest growing independent retail gas chain in Canada) -- transport gasoline and diesel fuel
Indigo Energy Partners, LLC -- fuel oil #6
OxyChem (NYSE: OXY)
Coco Paving
Political Supporters:
Four New York State Senators
The Mayor of Niagara Falls
Key Partner:
Rock-Tenn/Smurit-Stone (NYSE: RKT)
Feedstock Suppliers Following Environmental Cradle to Grave Audits:
General Motors (NYSE: GM)
Waste Management (NYSE: WM)
Chrysler
Environmentally green and viability:
New York Department of Environmental Conservation
Islechem, the private R&D lab of NYSE: OXY (both formerly owned and currently hired as) Conestoga-Rovers and Associates
Fuel Labs:
Intertek
PetroLabs
Alberta Resource Council
Southwest Research Institute
*SCAM ARTICLE OBLITERATED* *PROVED WRONG AS EXPECTED* i believe Kurt has done enough falsifying for everyone here... funny how it takes some real investigating by a non-fraudulent writer to get to the truth. He should stick with the degree that he received because doing DD is out of his element...
NYSE: RKT EXEC SLAMS SEEKINGALPHA AUTHOR
I just talked with John Stakel from Rock TENN
lovethatgreen Share Friday, January 13, 2012 2:59:34 PM
Re: None Post # of 250825
I talked with John Stakel from ROCK TENN
I told him about the article yesterday and the fact he was quoted as not knowing who JB was
almost verbatim said to me, thats the problem with u fnnn people
You take something out of context and print it..he said his name is on the agreement with JBII but never met the man.
end of fckn story
It appears Kurt was 'fibbing' or 'twisting' in his seeking alpha hit piece.
id say Kurt and his followers are the scam artists...
People know about the author and know who he is... he is working i with others and as anyone with half a brain knows he will never write an unbias article... criminals tend to hang together... they just need a leader
why would anyone care what this criminal has to say? he has openly admitted to being a shorter of JBII and was handed a cease and desist letter for his comments on this board... he profits from JBIIs drop in price... talk about bias..
PROOF JBI IS FOR REAL!!!!
JBII Progress and Concise OverView
Recent Progress:
12-23-11: Transport Fuel (Regular, Premium, Diesel) supply agreement with XTR Energy
12-21-11: Long Term Fuel Supply Agreement with Indigo Energy
1. Shareholder Equity: $5M
2. P20 Revenues
Q2: $81K
Q3: $141K Revenue Gain: +73%
3. Net Loss:
Q2: $4.5M
Q3: $3.3M: Losses Down 27%
4. Cash On Hand: $2.4M
5. For the three and nine month period ending September 30, 2011, P2O gross margin performance was approximately 83.6% and 77.2% respectively (2010: N/A).
6. JBII is an alternative oil and gas company that converts waste plastic into fuel; primarily diesel, #2 fuel oil, and #6 fuel oil.
7. In March 2011 the Company completed the acquisition of the facility in Niagara Falls, New York where its 20 metric tonne (“MT”) P2O processor is located. On October 4, 2011, the Company paid out the outstanding mortgage for the facility.
8. In addition, on October 27, 2011 the Company was permitted by the city of Niagara Falls to erect a 7200 square foot building on the Niagara Falls, NY property. The foundation has been poured and a prefabricated building has been purchased. The Company anticipates construction to be complete at the end of Q4 2011. This building will house the Company’s fabrication operations.
9. The Company plans to move its fabrication unit from the existing facility to the new building shortly after construction is complete. The construction of a secondary location for fabrication was imperative as it will allow the Company to continue manufacturing processors without interrupting operations and fuel production going forward.
10. The Company focused resources in Q3 on finalizing and completing the construction of the premelt system, ordering components for and fabricating processors #2 and #3, and initializing site preparation for the rollout of processors at the first RockTenn site.
11. The Company expects to finalize fuel supply agreements as soon as anticipated fuel demand from prospective customers can reasonably be met.
12. Management’s highest priority continues to be bringing processor #2 and #3 online so the Company can become cash flow positive.
13. Patent: The Company has filed confidential patent applications with the USPTO to protect its intellectual property.
14. The Company continues to strategically build the foundation for its Plastic2Oil business that it expects will create long-term value and a profitable business.
15. The completion of the premelt was critical to the efficiency of commercial operations and expansion to third party locations.
16. The Company continues to be successful in securing free sources of feedstock supply for the processing plant, both independently and through its recycling facility that accepts, separates and processes paper, plastics and other materials.
17. The Company has also constructed tank containment in New York, which added 49,000 gallons of on-site fuel storage in addition to the 250,000 gallon fuel blending site in Canada. This extra storage will support growing operations and fuel transport flexibility in Niagara Falls, NY.
18. On July 29, 2011, the Company entered into a Revenue Sharing Agreement with RockTenn to convert mill and MRF waste plastic into fuel using JBI’s Plastic2Oil technology. Prior to executing the Revenue Sharing Agreement and Addendum for the first site, JBI visited numerous RockTenn sites to plan installation priorities. The Company has been meeting regularly with RockTenn representatives in order to prepare for the first installation of processors on their site. The Company met with environmental authorities in the state where the first processors are being placed. Due to the ultra-low emissions from the Company’s P2O processor, the Company sought a permit exemption. During September 2011, the Company proposed and submitted an application for exemption and met with several of the State’s environmental engineers. The Company also presented before the environmental committee composed of citizens, environmental engineers, and permit engineers. The Company has retained contractors to install services on site at the first RockTenn location. The site has an existing pad and small building already in place, which will be used for P2O operations. In preparation for the construction of the first processors, the Company has hired and trained new operators and fabricators in Niagara for future relocation to this initial RockTenn site.
19. The Company expects to have the kilns from fabrication shops for processor #2 and #3 in Niagara Falls, NY by the time the final stack test is conducted in December 2011. Catalyst towers, heavy fuel, naptha and natural gas towers for both of these new machines have already been constructed.
20. P2O Processor Enhancements:
Q1: The Company’s CEO designed further enhancements to the P2O processor in early 2011, including two columns supporting 4 catalyst trays. In addition, he added significant technology to guarantee fuel quality, along with installing an inline fuel additive injection system on both heavy and light fuel condensing systems. He has also engineered a hot-tap residue removal process. Quality control includes two columns for control and specificity of fuel fractions, a cyclone (particulate removal in vapor), fuel filters (particulate removal in liquid), and a centrifuge (additional redundant particulate trap), as well as column enhancements to guarantee particulate free fuel. Fuel additives are injected inline while fuel is being produced to increase their effectiveness. The new residue removal system works while the processor is running, so the reactor does not have to be cooled down or stopped to remove residue.
Q2: During the second quarter of 2011, the Company built a fully equipped fuel testing laboratory at the Niagara Falls, NY site to facilitate instant certification of fuel products. The P2O processor is capable of producing #6 fuel, #2 fuel, diesel, and light naphtha. The Plastic2Oil processor has been tuned to reduce naphtha production to less than 2% because the market price for naphtha is significantly less compared to #2 or #6 fuel and therefore the Company does not intend to make Naptha contracts a priority. The Company’s management has invested much time, testing, and production efforts towards large companies to execute significant contracts such as RockTenn. During the first quarter of 2011 the processor was primarily used to test feedstock from large sources of free waste plastic in order to pass "Cradle to Grave" audits from feedstock to end user fuel. During the second quarter of 2011 the Company designed and engineered a premelt loader for the Plastic2Oil processor to eliminate handling, shredding, and bagging of waste plastic. During the modularization of the processor, the CEO was able to eliminate the off gas compression system in favor of a simplified low-cost off gas handling rack (4’ x 4’ x 4’) for better control and at 1/5 of the cost. The cost savings through modularization has been used to offset the cost of the premelt loader.
Q3: The Company successfully designed, engineered and fabricated a plastic premelt system. The premelt system is now capable of accepting mixed, un-shredded plastics in addition to plastics that are comingled with various metals. The premelt system operates from the waste heat of the original P2O reactor system and has the ability to separate the comingled metals from the plastic. This capability became especially critical for processing RockTenn material such as raggertail, as well as other large bales of compacted plastic. The raggertail was demonstrated to be successfully processed during a visit by RockTenn representatives and will significantly increase process efficiency at RockTenn sites, as well as alleviating a great deal of sorting efforts from many of the Company’s current and future plastic feedstock suppliers. In addition to the completion of the premelt system, the Company further enhanced the New York processor by installing Low Nox (Nitrogen Oxide) burners. This addition will further reduce emissions and was important when seeking permit exemptions in other States. This improvement enabled the Company to seek an air permit exemption in another State, eliminating many months of extra work and cost.
The Company became able to dye its own fuel thereby eliminating the need to blend or have 3rd parties perform this service. These changes, in combination with a declining number of test runs required for base-lining emission and other fuel standards tests are expected to result in continuous performance and enhanced throughput.
21. B2B Agreements:
On June 10, 2011, JBI, Inc. entered into a Supply and Service Agreement with Coco Asphalt Engineering, a division of Coco Paving whereby the Company has agreed to supply Coco on a weekly per demand basis with petroleum distillate at a cost of $109.80 per barrel. The Company continues to ship tankers of petroleum distillate to Coco Paving in third quarter at $109.80 per barrel. Coco Paving has stated it is pleased with our Plastic2Oil fuel.
On July 29, 2011, the Company entered into a Revenue Sharing Agreement with Rock-Tenn Company (RockTenn) to convert mill by-product waste into fuel using JBI's Plastic2Oil technology. Under the agreement, JBI, Inc. has an exclusive ten-year license with a renewal option to build and operate P2O processors at RockTenn facilities to process RockTenn's waste plastic at paper mills and Material Recovery Facilities and to mine and process plastic from RockTenn's plastic-filled monofill sites.
22. Processor Production:
The Company has contracted two fabrication shops to manufacture the reactors and towers in racks. The Company has also ordered a prefab building for its P2O factory property for fabricating proprietary and trade secret components for the racks. The racks have been standardized to limit the number of parts and vendors in the supply chain that the Company must depend upon. Transient delays in Q3 were related to supplier companies being bought out, moving, or ceasing operations. The Plastic2Oil processor system is now 10’ wide by 120’ long. On November 15, 2011, the Company was granted Honeywell Maxon OEM (Original Equipment Manufacturer) status. This certification will allow the Company to order and receive key processor parts on a priority basis. It is anticipated that this will save the Company significant time and money moving forward.
23. Free Plastic
The Company receives free waste plastic for our Plastic2Oil processor(s) from Chrysler, General Motors, major food packagers, dairy companies, agricultural plastics, and many other sources. The company is recycling thousands of gas tanks, bales of plastic film and many other free plastics that are usually sent to landfill. The Company does not pay for any plastic. None of the plastic that the Company has received to date at the P2O factory has required sorting. The Company continues to receive large supplies of plastic feedstock at both its Niagara Falls, NY and Thorold, Ontario facilities, and retains a significant backlog of feedstock. The Company anticipates continuous processing of this supply upon completion of the second stack test and assembly of processors #2 and #3.
24. China Regulatory Implications:
In August 2011, China implemented regulations that greatly limit waste plastic importing. The regulation strictly limits waste import licenses and the waste plastic product must be used as a raw material in a new product. This regulation was implemented to curb pollution caused by burning waste plastics. As of November 2011, the regulation was tested and enforced in Guangzhou province and it successfully resulted in reducing waste plastic imports by 80%. China warns that strict enforcement of the new regulations will soon be extended to the entire country. The Company expects this regulation to be very beneficial in securing long term feedstock supply.
25. Tape Recovery Business:
In 2009, the Company purchased the Data business from John Bordynuik, Inc., thereby providing the Company with the ability to operate what was once John Bordynuik, Inc.’s data restoration and recovery business, a business originally developed by John Bordynuik in 2006.
The Data Business is not as financially intensive as the other businesses of JBI, but is time consuming with regards to the allocation of the time of John Bordynuik, the President and CEO. However, the Company continues to maintain operations of this business segment and has received several thousand tapes for reading and data preservation. The Company expects to be generating revenue from the Data Business segment in future periods.
26. PakIt:
Despite these measures actual and anticipated revenue and profitability performance at Pak-it failed to meet expectations and the Company determined that a selective divesture of Pak-it’s assets was warranted in order to focus on its P2O segment. During the second quarter, sale criteria in respect of certain assets of Pak-it was developed and active marketing commenced to sell these assets.
I find it very telling that UNTIL Jan 6th investors were in on this KNOWING of the sec lawsuit on the 3rd...
its too bad our tax money is being wasted by the SEC... i believe they are going to have their hands full here...
ya 13 guys with a ton of cash just got scammed... im sure they had no clue what they invested in... lol
how much was jbii fined?
This suit may take years to settle... minimum of 3 processors running with premelt and buyers... even if a large fine there would be enough rev to cover that bill... what does 850 mil case have to do with jbii? keep it relevant please
ill tell you... WM hasnt made a dollar off algigoo!! very impressive...
Wells notice and competition are a non-issue... why do people keep want to make something out of nothing... i certainly dont get it...
JBII ON FACEBOOK!! http://www.facebook.com/#!/pages/JBI-Inc/118316981560050
CHECK OUT JBII ON FACEBOOK!! http://www.facebook.com/#!/pages/JBI-Inc/118316981560050
CHECK OUT JBII'S FACEBOOK PAGE!! http://www.facebook.com/#!/pages/JBI-Inc/118316981560050
if we are going to make up numbers then i guess it wouldnt be a problem to assume jbii has the other 5 processors completed and has already sold that fuel with a profit of 5 million this quarter?
CHECK OUT JBII'S FACEBOOK PAGE!! http://www.facebook.com/#!/pages/JBI-Inc/118316981560050
why would investors me scared of making money? that doesnt make any sense at all...
CHECKOUT JBII's FACEBOOK PAGE!!
http://www.facebook.com/#!/pages/JBI-Inc/118316981560050
ALSO...anyone been/going to the plant recently?
It was an awful PR... signing a long-term contract is so bad...there is nothing positive about selling fuel... i cant think of one at least...everything is so miserable... lol
ya... i dont possibly see how a long term contract could be a good thing... why would they even be trying to sell fuel? there is no demand for it... very confusing...