Is there any truth in any of the statements made by JBI?
So if I understand correctly based on this post,
a phone call was made to JBIs CEO on February 20, 2013
during that call it was stated-
“I just talked to CEO Kevin Rauber: I asked about how the company was doing and about improved communication with shareholders.
He reiterated cash flow positive in the 1st quarter of 2013.”
Yet the company filed their Operations Update on February 11, 2013
Which was 9 days earlier than the alleged phone call and must have been prepared with facts known about prior to February 11, 2013 and certainly prior to the phone conversation on February 20, 2013.
The Operations Update states-
“Revised positive cash flow timing”
“These delays will preclude the Company from achieving cash-flow positive results during the first quarter of 2013”
How is it possible that the CEO does not know that the company has filed statements 9 days earlier that say no CFP Q1 yet he say CFP Q1???
Is he that incompetent and out of touch with JBI the company he is CEO of?
Or
Did he lie in the filing?
Or
Did he lie in the phone conversation?
Or
Is there another explanation for the lie?????
This leads us to wonder what else the CEO of JBI is incompetent and out of touch about...
OR
What else is a LIE
Now, how can anyone believe anything that JBI states?
Is anything in the phone conversation true?
How can it be believed that JBI can make oil for $10 a barrel?
How can years of unproven statements that never come true be taken with any amount of credibility?
It has become clear that John, the former CEO had a long proven list of false claims and flat out lies, now the new CEO has picked up right where the old CEO left off and is beginning a list for himself.
Unless, of course there is another explanation for the source of the lies and false claims… hmmmm
Regardless, it would be good to get a documented explanation from the current CEO as to how he can possible make oil for a profit when the materials and overhead cost more than the output generated.
Better yet, it would be good to get a detailed expense report that breaks out the cost and overhead of the feedstock, and a detailed balance sheet on the specific sales and the associated revenues gained from just the oil that may or may not have been produced and may or may not have been sold.
If this specific data is not demonstrated in detail in the next filing it makes you seriously wonder about the competency of the company’s management. OR it makes you seriously wonder about the motives of all involved.
Anyone with a significant investment in JBI should seriously consider demanding a third party audit. Specifically targeting past expenses as well as current operations. I say this because it is conceivable that it could uncover some interesting facts.
I am not about to allege fraud without proof, however, if I were to be in demand of an audit it would be to uncover the true cost of producing oil from plastic.
Lets consider one possibility that could be uncovered (not saying that this is true, just a hypothetical ‘what if’)-
What if, For years the company makes payments to another company for good, sorted plastic to be delivered at a later date. What if, Those payments are buried away in obscure corners of the CTDB. What if, Perhaps a key player from another company that has plastic sales can act as an insider to help the situation along (Hmmm). What if, Then at a future date the payments stop but the deliveries begin. Now, What if, the current cost of plastic is lost in previous quarters but the current quarter numbers begin to show positive cash flow and the premise of the process appears to prove commercially viable, or at least for a time, until the previous paid for plastic supply runs out.
This demonstration of What if, is only made possible by the obvious lack of credibility demonstrated by the company and by the obvious flaw in the fundamental premise of commercial viability of P2O particularly when you are permitted to ONLY use specific types of plastic.
The problem remains that the value of the plastic is more than the value of the oil that can be made.
Furthermore, if plastic was free it is free for a reason, because it has no value to anyone including JBI. The cost to make the free plastic have value is more than the value of the plastic which again is more than the value of the oil that can be made.
Therefore, unless it can be demonstrated in black and white in detailed balance sheets prepared by an unbiased third party, the credibility of any of JBIs future statements and filings is in serious question.
