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Monday, October 29, 2012 12:13:01 AM
http://www.sec.gov/Archives/edgar/data/1381105/000121390012003969/f8k072312ex99i_jbi.htm
The word "critical" was mentioned only one time in the AGM slides and it was in regards to the procurement of plastic feedstock. When I think "critical" i'm thinking life or death, I'm willing to bet that JBI might feel it's life or death for them as well.
I didn't say there was no plastic in Niagara Falls or anywhere near there, or no businesses that use plastic in the NY state.
What I did ask was "where are they going to get 150 tons per day of free sorted plastics in the right type and quantity that's critically needed to feed the beasts for the Niagara Falls facility?"
Not only does JBI feel this is a "critical" aspect of their success, so do I.
Now I admit I wasn't at the AGM, but others at the AGM admitted to hearing that they may pay for plastic. Some are now saying, and now want everyone to believe that JBI only meant that they would pay to have it shredded elsewhere - if it were cheaper to do so.
I personally, don't believe they have the supplier commitments already in place for 150 tons per day of "free" plastic for the Niagara Falls facility. I may be wrong, and I'd be happy to be wrong, but it's what I'll continue to believe until the company says and proves differently.
I'll say it again if the company announces 1 and 3 being completed, it will ring hollow with me - without any confirmation of the needed supplier agreements for "free" plastic to the tune of 150 tons per day.
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