I view myself as an "objective long" on jbii. There were things I liked and disliked about the update call. I won't belabor the issues that have been covered at length by others on this board, but will mention a couple of items that have not been discussed all that much -- but which are important to me from the call.
One of the most important positives I took away from the call was that there are three ultra-high net worth individuals who have invested in the company. I do not know any of their identities, but I do know how they tend to think and act from my own experience working closely with that type of investor over a long period of time. You can choose to believe me or not -- that's up to you. Why their presence is significant to me is several fold. First, they tend to establish milestones and they demand that they be met. They force measured progress. They do not suffer fools lightly and if they do not have the time to be hands on, they delegate that task to people they have confidence in. They can be good counsel in decision making, which I think history shows that jbii dearly needs. They tend to be impatient with big egos and won't allow ego to interfere with solid decision making. They tend not be be shrinking violets and if they are unhappy with progress, they let management know about it in very clear terms. Decisions must be defended and a clear path to progress must be shown. BS, smoke and mirrors and illusions don't go very far.
The thing I was most disappointed with was the failure to deal with the financing issue. The comment was made that future financing needs would be dealt with by issuance of equity, debt or project financing. Well, duh. No kidding. Reference was made that further clarity may be forthcoming in the annual report. In other words, we don't know how we are going to finance the large rollout of processors that we hope for but we know its an issue. Again, thanks a lot. The success of jbii depends in large measure on the speed of growth, which in turn is highly dependent on obtaining the funds for that growth in a prudent, affordable fashion. That has to occur for shareholders to realize the potential of this technology. The question demands a clear answer and we have yet to receive it. I hope that we receive it very soon.
I am limited to one post per day so I will not be able to respond to your comments and reactions, if any.
