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It's been a few years since my last post, and I obviously didn't miss much more than the entertainment factor.
"These processors were idle for all of 2015 and remained idle during the three months ended March 31, 2016."
You can't do trial runs with "idle processors," and it must be equally tough to sell processors without successful trial runs.
How long can this con go on?
"Spot the obvious"
Business Overview
For the three months ended March 31, 2016 and 2015 the company has no revenue. These processors were idle for all of 2015 and remained idle during the three months ended March 31, 2016.
Caught RED handed again!
So many lies, so little time.
Neither JB or JBI ever held a patent relating to data recovery, but that didn't stop them from saying that they did, in fact they filed that bullshit with the SEC:
"We also hold a patent relating to our Data Business for the recovery of tape information."
http://www.sec.gov/Archives/edgar/data/1381105/000121390012001206/f10k2011_jbi.htm
However, during his testimony (see below) JB finally admits to not having a Data Patent.
A. We were going through a sole source
process with NASA, which took a lot of time.
122 Q. Yes. Is it a patented technology?
A. Yes. We filed for patent protection.
It is not patented yet, but we filed for patent protection.
"Bordynuik admits the facts set out in Part III and the conclusion in Part IV"
Hmmm...Allegations agreed to as FACT!
http://www.osc.gov.on.ca/documents/en/Proceedings-SET/set_20140128_bordynuikjw.pdf
PART III – AGREED FACTS
15. Bordynuik adopted this practice, which violated the terms of the Childrens’ Trust, so as to put free trading and not restricted stock, in the hands of third parties
The following link shows where those Allegations were then Agreed to as Facts by Honest John himself!
"Bordynuik admits the facts set out in Part III and the conclusion in Part IV"
http://www.osc.gov.on.ca/documents/en/Proceedings-SET/set_20140128_bordynuikjw.pdf
PART III – AGREED FACTS
15. Bordynuik adopted this practice, which violated the terms of the Childrens’ Trust, so as to put free trading and not restricted stock, in the hands of third parties
Nothing to laugh about, some people have lost their life savings on his lies.
"Bordynuik admits the facts set out in Part III and the conclusion in Part IV"
http://www.osc.gov.on.ca/documents/en/Proceedings-SET/set_20140128_bordynuikjw.pdf
PART III – AGREED FACTS
15. Bordynuik adopted this practice, which violated the terms of the Childrens’ Trust, so as to put free trading and not restricted stock, in the hands of third parties
This is hot off the press and far from five year old news, as it's barely a month old. The truth about "Honest John" is finally coming to light.
2. Staff of the Commission (“Staff”) agree to recommend settlement of the proceeding commenced by Notice of Hearing dated April 3, 2014, (“the Proceedings”) against the Respondent, in accordance with the terms and conditions set out in Part V of this settlement agreement. Bordynuik agrees to the making of an order against him in the form attached as Schedule “A” on the basis of the facts set out below.
http://www.osc.gov.on.ca/documents/en/Proceedings-SET/set_20140128_bordynuikjw.pdf
"Justice, though moving slowly, seldom fails to overtake the wicked" ~ Horace, Odes, (23 BC)
PART III – AGREED FACTS (John W. Bordynuik)
AGREED FACTS: "purpose was conduct CONTRARY to the public interest."
15. Bordynuik adopted this practice, which violated the terms of the Childrens’ Trust, so as to put free trading and not restricted stock, in the hands of third parties.
Disciplined Persons - Bordynuik, John W.
http://www.securities-administrators.ca/disciplinedpersons.aspx
Name Date of Order
Bordynuik, John W. April 04, 2014
Details
Name: Bordynuik, John
Ontario - Ontario Securities Commission
Date of Order or Settlement April 04, 2014
Banned with or without exceptions until
Sanctions
Director, Officer and/or Supervisor Ban with or without exceptions
Administrative Penalty or Fine
Reprimand
Payment agreed and/or ordered Administrative Penalty or Fine/Pénalité ou amende administrative: $125,000; Costs/Frais: $45,000
Violations and/or conduct
Acting contrary to the public interest
Illegal or unregistered distributions
Making false or misleading statements
Settlement Agreement (English)
http://www.osc.gov.on.ca/documents/en/Proceedings-SET/set_20140128_bordynuikjw.pdf
Supporting Documents Order (English)
http://www.osc.gov.on.ca/documents/en/Proceedings-RAD/rad_20140404_bordynuikjw.pdf
Caught Red Handed!
46. The trust agreement and other trust documentation was filed with DS as part of the “Know Your Client” documents with respect to 1683091 Trust’s account at DS. The DS trust account initially held 6,000 shares of John Bordynuik Inc.. In or about October 2009 an additional share certificate representing 1 million shares was deposited to the trust account at DS.
47. Immediately thereafter, on or about October 23, 2009, Bordynuik caused the shares represented by these certificates to be transferred to fourteen different transferees, none of whom were beneficiaries of the trust.
48. Again on December 10, 2009 Bordynuik caused 300,000 shares to be transferred improperly from the Childrens’ Trust account to the benefit of Bespoke Growth Partners. Bespoke Growth Partners was not a beneficiary of the Childrens’ Trust.
http://www.osc.gov.on.ca/documents/en/Proceedings-SOA/soa_20140401_bordynuikjw.pdf
John Bordynuik December 1, 2009 at 12:45pm "You're witnessing something rare: a company's stock trading without a biased analyst BS'ing you and no stock promoters taking advantage of thousands of people. The company has no free trading shares to sell - its up to our shareholders to spread the word. Our trading pattern isn't odd.. it's what the market would look like without promoters, paid analysts or funds selling their stock to a song and dance."
John Bordynuik December 10, 2009 at 5:54p "I certainly want to clear the air about one question. We did not and DO NOT hire stock promoters. Our stock now has the interest and investment from institutional funds, not retail. That is where this activity is coming from. No stock promoters, just good old fashioned Funds. They couldn't get in before and now we control our business model unlike most other public companies."
PART III – AGREED FACTS (John W. Bordynuik)
AGREED FACTS: "purpose was conduct CONTRARY to the public interest."
15. Bordynuik adopted this practice, which violated the terms of the Childrens’ Trust, so as to put free trading and not restricted stock, in the hands of third parties.
So your saying that the following is nothing but total bullshit from JB, since he was caught red handed illegally transferring shares?
John Bordynuik "You're witnessing something rare: a company's stock trading without a biased analyst BS'ing you and no stock promoters taking advantage of thousands of people. The company has no free trading shares to sell - its up to our shareholders to spread the word. Our trading pattern isn't odd.. it's what the market would look like without promoters, paid analysts or funds selling their stock to a song and dance."
December 1, 2009 at 12:45pm
John Bordynuik "I certainly want to clear the air about one question. We did not and DO NOT hire stock promoters. Our stock now has the interest and investment from institutional funds, not retail. That is where this activity is coming from. No stock promoters, just good old fashioned Funds. They couldn't get in before and now we control our business model unlike most other public companies."
December 10, 2009 at 5:54p
PART III – AGREED FACTS (John W. Bordynuik)
AGREED FACTS: "purpose was conduct CONTRARY to the public interest."
15. Bordynuik adopted this practice, which violated the terms of the Childrens’ Trust, so as to put free trading and not restricted stock, in the hands of third parties.
Do you have any documentation to all the illegally transferred shares from JB to the 14 friendly's?
LMAO!
Why has JBI stopped taking Crayola products, and why are the Chemical engineers all gone?
Prior to JBI didn't Hans Brost the CEO of P20 Palm Springs also receive shares to promote SPNG, and didn't he also lie tirelessly and unceasingly about SPNG afterwards? It appears that JBI and SPNG and Hans seem incredibly similar.
Will JBI go down as another SPNG, will JB wind up in Jail via the efforts of the DOJ?
Wells, we'll find out soon enough.
Well it now appears that they have no throughput, evidenced by Crayola shipping their plastic elsewhere.
So how about plugging a big fat zero for throughput into your matrix?
Mid Quarter updates, was a bold faced lie, evidenced by the lack of him keeping his word.
"Heddle is a guy who built Heddle Marine over decades. He didn't do that by lying to people."
It's a real link, however it's to a Bullshit Mythical patent that was rejected for not being novel...LMAO!!
Only in JBI land could a patent application rejected for not being Novel be trumpeted as a patent.
Thanks to LR:
It's well documented that JB/JBI has a long history of bullshit when it comes to Patents.
Based on that Bullshit, any update on that mythical and laughable data patent?
Who said anything about criminal charges?
I answered the following bullshit claim of not a single criminal accusation:
Yes. I'm still laughing from the last time that I heard JBI had a process that accepted wet and dirty plastic.
Based on that bullshit..any update to the mythical and laughable bullshit claim that JBI can process wet plastic?
15. Bordynuik adopted this practice, which violated the terms of the Childrens’ Trust, so as to put free trading and not restricted stock, in the hands of third parties.
Hmm..this was also left out.
The allegations against JB Stand and the penalties for his actions against the public and shareholders will STAND for the next five years!
AGREED FACTS: "purpose was conduct CONTRARY to the public interest."
It has been "AGREED" by Bordynuick and the OSC that his actions were the exact OPPOSITE of working in the public/shareholder's best interest.
How perplexing!
...and yet, the allegations against JB Stand and the penalties for his actions against the public and shareholders will STAND for the next five years!
AGREED FACTS: "purpose was conduct CONTRARY to the public interest."
It has been "AGREED" by Bordynuick and the OSC that his actions were the exact OPPOSITE of working in the public/shareholder's best interest.
How perplexing!
...and yet, the allegations against JB Stand and the penalties for his actions against the public and shareholders will STAND for the next five years!
AGREED FACTS: "purpose was conduct CONTRARY to the public interest."
It has been "AGREED" by Bordynuick and the OSC that his actions were the exact OPPOSITE of working in the public/shareholder's best interest.
What happens if JBI misses the deadline to release the 10K, as it appears they have laid the groundwork and excuse to do so?
Previous NT Q August 9th 2013 :
The Company intends to file the report within the extension period provided under Rule 12b-25.
Previous NT Q May 10th 2012
The Company intends to file the report within the extension period provided under Rule 12b-25.
Previous NT 10K March 16th 2012
The Company will file the report within the extension period provided under Rule 12b-25.
Yesterday’s NT 10K:
The Company is seeking to file its Annual Report within the extension period provided under Rule 12b-25, however, due to the delay in the start of the audit, there can be no assurance that the Company will be successful in filing prior to the expiration of the extension period.
Sure they do, who said that they didn't?
That's a piss poor example, unless your trying to prove my point, as it only shows a double layer at the bottom, and figure 3.29 shows a single layer at the bottom, neither of which with a cover.
The point is moot anyways as JBI hasn't done diddly squat at RKT's facility since their Bullshit news release that goes back 2 or three years.
Great question!
However, I don't think we're going to get an honest answer from JBI anytime soon.
Can JBI still process wet plastic or were they lying when they said they couldn't earlier this year, and are they lying now when they say that they need cleaner plastic?
Does anyone else remember a certain Mechanics lien?
How about that laughable nonsense that we heard thousands of times that JBI could first excavate and then process RockTenn's dirty and wet plastic monofills?
Now we're hearing that they can't even process plastic that's never been buried, because it's not "CLEAN" enough.
I never implied anything of the such.
Let's be both clear and honest. The problem that Madison county would have is the same problem that JBI already has, and that's the unsorted Municipal waste stream that's available to Mr. Zecca.
Even if he was able to get the other counties in the region to truck in that 80 tons per week of waste that may be available to him, that shipping and delivery fee would carry a cost on top of the then still needed highly costing sorting, and shredding that's still needed to process.
There's a reason why JBI can't process this waste stream that's not of the right types and quality and not properly sorted to the processor's capabilities, otherwise he would already be doing it.
The reason certainly isn't because they have enough money and don't need any.
I wouldn't hold my breath waiting for Madison County to purchase a unit let alone two of them. Mr. Zecca told me yesterday that they couldn't afford even one of JBI's processors outside of receiving a grant, and that grant money was drying up.
Not that it would matter anyways, as JBI already told Madison County that they would only accept cleaner preprocessed material, so good luck processing plastic from any Municipal Solid waste stream with god knows what's mixed in with it.
For anyone wanting to read the whole document, instead of the previous cut pieces than see the following link.
https://www.madisoncounty.ny.gov/sites/default/files/march_2014.pdf
Mid Quarter update & more BS
The mid Quarter update is MIA along with the "recently completed" heat and mass balance report that was said to be released in the "coming days" 107 days ago.
Does anyone in this company ever tell the truth, or mean what they say?
A following quote from good ole Honest John Bullshitdynuik on the Nov 12th 2013 CC:
"In addition to that, we have recently completed a thorough heat and mass balance of our process, which
serves to continue to validate our viability from a scientific standpoint. We’ll be making that available on our
website within the coming days."
I believe I read here that the heat and mass balance report would have been complete BS anyways, seeing that Johnny IQ wasn't smart enough to put a simple outflow meter on the much heralded flagship Processor number 3.
Why don't they just sell 45 of them to Al Sousa...oh wait
Anyone remember this one:
February 2012 CC call John said:
"our infrastructure upgrades also includes the completion of our fabrication building - early in 2012 it was completed"
Only to learn from Kevin R. at the AGM that the cement floor didn't get poured until June 2012....LMAO!
How anyone can even believe one word out of JB's mouth is beyond me. How does that saying go, "he's only lying when his mouth is moving?"
"Stay tuned"
"All heaven breaking loose"
"Watch and learn"
"Neato Day"
"Get ready to have your socks knocked off"
"Stay tuned" reminds me of the musicians that continued playing music while the Titanic sunk.
The JBI story/boat has more holes in it than the current world supply of Swiss Cheese!
400 lbs per hour 24/7 isn't even close to 10 million per year in gross sales. It takes approximately 8.3 lbs of plastic to make one gallon of fuel.
The fact that this question has never been answered, and that they continually ignore it is IMO very telling.
I know for a fact that this question was asked three times during the AGM only to be ignored each and every time.
The question now is - how long can this charade last?