"...the Company has been reviewing the feasibility of realizing P2O revenue in different jurisdictions with partners who have already obtained the necessary operating permits required for P2O. The Company is also reviewing the feasibility of installing a P2O machine in Ontario, where one of the Company's facilities recently obtained it’s air approval."
The Company received notice dated October 15, 2010 that the Ontario Ministry of Environment registered a “certificate of Approval for Air, Section 9, EPA” in the Company’s name. A “Certificate of Approval for Air” in Ontario is equivalent to a NYDEC Air Permit in the United States. The Company also received a Certificate of Approval for Industrial Sewage Works, Section 53, from the Ministry of the Environment. These approvals are for use at the Company’s fuel blending site. The Ministry of Environment allowed the transfer of existing approvals (permits) of the blending site to the Company.
(2) NYSDEC AIR PERMIT = "days away" (for real!)
JBII is days away from getting a New York Department of Environmental Conservation air permit which will allow immediate commercial operations to begin on P2O:
"...it is expected that the Company’s current cash balance will sustain operations until the DEC issues an air permit for our Niagara Falls, NY P2O machine. Upon receipt of this air permit, the Company expects to immediately commence P2O operations in order to generate revenue and earnings from the P2O machine" (AKA NO BUD NO WASTE PERMIT NEEDED IMO)
(3) JBII's P2O process now automatically separates the fuel it makes into diesel and gasoline:
"In speaking with various investment funds and high net worth individuals, the Company expects that once an air permit is obtained, raising significant amounts of capital for the purpose of building P2O sites will be a relatively straightforward process, however there can be no guarantee. In the event that cash is needed in the interim, JBI Inc. is positioned favorably for small debt and equity issuances."
(5) The non-P2O subsidiaries now break-even or profitable:
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