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Re: Artiztic1 post# 108147

Friday, 05/13/2011 8:20:43 AM

Friday, May 13, 2011 8:20:43 AM

Post# of 312019
The 10K clearly lists the use of a catalyst. Not sure why both the yes and no were checked in the report.

http://www.sec.gov/Archives/edgar/data/1381105/000121390011002119/f10k2010_jbi.htm

Our P2O process converts plastic into fuel using a reusable, proprietary catalyst developed in part through our Data Recovery & Migration work. See “—Other Businesses—Data Recovery & Migration”. Our proprietary catalyst and automated P2O process enables the conversion of plastic to fuel with high efficiency. Approximately one litre of fuel is produced from every kilogram of plastic.


2. The P2O catalyst and process provide a highly efficient means of converting plastic into fuel.

Our proprietary P2O catalyst provides a highly efficient means of converting plastic into fuel. This is essential since the economic viability of the P2O process depends on it being both a cost-competitive means of disposing of waste plastic and an efficient and non-energy-intensive means of producing fuel. Approximately one litre of oil is produced from each kilogram of plastic waste. Our process involves minimal electricity to operate, and the energy balance of the P2O process is positive, meaning that more energy is produced than is consumed by the process.

There are various processes in existence for converting plastic and other hydrocarbon materials into products for use in the production of fuels, chemicals and recycled items. These processes include pyrolysis (conversion using dry materials at high pressure and temperature in the absence of oxygen), catalytic conversion (conversion using a catalyst for stimulating a chemical reaction), depolymerization (conversion using superheated water and high pressure and temperature) and gasification (conversion at high temperature using oxygen or steam). The Plastic2Oil conversion process is similar to pyrolysis, and involves the cracking of plastic hydrocarbon chains at ambient pressure and low temperature using a reusable catalyst.

The acquisition of Pak-It was driven by the Company’s desire to access Pak-It’s unique patents, and the fact that the Company could potentially utilize Pak-It’s chemical expertise to produce the proprietary P2O catalyst in-house. Additionally, the Company realized a considerable amount of business value was being lost due to inefficient internal controls and operating procedures due to Pak-It’s accounting system, various production processes, and an over extended product line.

The Company performed this test during 2010 and recorded an impairment loss of $3,079,790. The impairment loss is due to the Company changing its strategic direction for its subsidiaries, Pak-It and Javaco. The Company acquired Javaco primarily to set up a back-up operation facility in Mexico for its Plactic2Oil business and acquired Pak-It to utilize its employees’ chemical expertise to produce certain chemicals required for its Plactic2Oil business. The Company has found an alternative operation facility for Plastic2Oil activities and a third party supplier for proprietary catalyst at favorable price. Therefore, the Company changed its strategic direction for Pak-It and Javaco