Friday, July 23, 2010 10:45:25 PM
Sorry, but I respectfully disagree. I think it's a combination of overexcitement that led to the stock getting way too far ahead of itself, based on missed deadlines, lack of transparency and new shares coming onto the market (i.e. Kidd's shares). The timing to fire Gately and replace him with Withum could not have come at a worse time. And the fact that perhaps reality is setting in based on the stack test not happening yet, coupled with the fact that, although JB says they have enough cash to get JBI to commercial production with P2O, I suspect that JBI will have to go back to the well in the next two quarters to raise additional money. I may be wrong, but that's just my opinion based on over 30 years of watching startups like JBI, thinking they have enough cash to complete the startup phase and enter the growth phase, but have usually miscalculated how much money it really takes to get it off the ground...
PROTECT YOUR ASS-ets!!
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