October,5th 2011: JBI, Inc. Shareholder Update
Based on these PR's and the losses that followed, I'm not sure I'd be hoping for any more new NEWS RELEASES from JOHNNY BOY GENIUS.
Some of my all time favorite Updates for shareholders:
June 25, 2009: 310 Holdings Inc. Enters Into Definitive Asset Purchase Agreement With John Bordynuik Inc. (only later to have this Armless transaction be restated - Decrease in the value of assets acquired from John Bordynuik, Inc. (572,102)!!
At the High of day, the Price per share the day of the news release was around $2.02 for a nice 45% loss at todays pps.
July 9, 2009: 310 Holdings Inc. Files Patent Application for Plastic2Oil Technology - (Hmmm...that one must be filed with the ever elusive and mythical/top secret data patent, that is now mysteriously absent from the latest 10Q) with a PPS and HOD of 1.49 would equal a 25% loss at todays pps - two years later.
October 1, 2009: 310 Holdings Inc. Acquires Chemical Company Pak-It...(then later boasts about 50,000,000 in sales in 5 years, then JOHNNY BOY GENIUS successfully runs this company straight into the ground. Pak-it otherwise known as bend over and "Pak-in" those losses.) PPS close to break even with todays price.
December 22, 2009: JBI, Inc. Executes JV LOI With Rick Heddle, Signs LOI for 45 Florida P2O Sites, and Will Apply for ASE Listing. (still working on it - "trust me" any day now...we're still super excited)price opened at around $3.50 per share and reached a high around 5.00 per - those were the days. Hopefully, you didn't buy and hold any from that release.
August 28, 2009: 310 Holdings, Inc. Completed the Acquisition of Javaco Inc. and then also successfully ran this company straight into the ground as well...wait a minute before you bash JOHNNY BOY GENIUS for his brilliant purchase of Javaco - it came with, wait for it, wait for it, wait for it....$10,000,000 worth of Media credits that were later restated to be worth less than fiddy cents.
February 12, 2010: JBI, Inc. Acquires Large Independent Fuel Blending and Distribution Site (Then On 2011-09-25, at 6:53 PM
in a private message/email) "The blending site has not purchased,sold, or blended any fuel to date. It will be blending and selling fuels after we get a few more processors operating."
Regards, John Bordynuik CEO JBI - implying processors number two and three are still not operating, after almost a year of getting the go-ahead to build them and start the COMMERCIAL PRODUCTION PHASE that was PUMPED by JBI as only being held up by the DEC!
February 12, 2010: JBI, Inc. Hires Experienced Ship Captain Michael Moneyhan to Oversee P2O Ship Expansion (When, what he really meant was "hurry up and back up the boat and BUY more shares") HOD PPS $6.30 any shares purchased could now be holding a 82% Loss. OUCH, I hope nobody bought on that day.
February 12, 2010: AS PTO, LLC Accepts Reservation Deposit With Tampa PTO, LLC for a Potential P2O Processing Site in Florida (this ones almost ready to ROCK...WEEEEEEEEEEEE)
February 12th was a busy day for IR - 18 PUMP I mean press releases. Unfortunately,even the JBI MASTER PUMP PLAN backfired and got screwed up when all PUMP releases were accidently released on the same day.
December 15, 2010: JBI, Inc. Plastic2Oil Process Commences Commercial Operation....Did someone forget to tell Johnny BOY Genius that he could actually start Commercial production...Hmmm?
Any Shares bought HOD only looking at around a 65% LOSS.
August 8, 2011: JBI, Inc. Announces a Ten-Year Agreement for Commercially Viable Conversion of Waste Plastic to Fuel.
Hmmm, on the very same day they signed the Letter Agreement with RockTenn dated July 14, 2011 JBI got served the SEC "ALL IS NOT WELL NOTICE".... I think the negotiation went something like this - yes sir, we'll pay for the building, yes sir, we'll pay for the pads, yes sir, we'll pay for the tanks,applications,fees,permits, plans,transportation,digging etc,etc,etc.... wait there's more for a limited time only(TODAY)if you sign.. we'll throw in a 20% discount and revenue sharing, and who knows what else they agreed to pay and give up in all the contract redactions. The very Contract that is contingent upon the new and elusive Agreement Addendum.
One can only wonder if there will be any profit for JBI at all ever. By looking at his track record and running Javaco/Pak-IN into the ground the answer leans towards never. Shares that were bought on the day of this news release (the 8th) are currently looking at around a FIDDY PERCENT LOSS.
