Buenokite, see my comments below in blue.
I constructed my question precisely because of what you have done in your post. At times Bordynuik has claimed throughput as high as 2,700 lbs per hour. He has claimed on occasion extended runs of 30+ days. He has claimed periodically fuel can be produced for $10 per barrel. He has claimed he can produce 80% diesel and 20% naphtha. But if you examine when he makes those claims he tends to make them in isolation. Sometimes he emphasizes throughput leaving out up-time, sometimes he emphasizes up-time leaving out throughput. He does this I believe so that people come to the most optimistic but catastrophically wrong conclusions.I would agree he has made optimistic statements, but just because they haven't happened yet, doesn't mean they won't happen in the future. If the makers of the first hard drive said their device will be capable of storing 1GB of data, but their first design only stores 100MB, would you say that technology wasn't worth investing in because they haven't achieved their stated goal? If I believed in the technology, I would invest in it because I know it will improve. My take is he is taking a scientific approach to the process... testing different aspects of the process to see the maximum operating specs in ideal conditions. If he tries to push the whole thing full steam without testing the limits of individual aspects, it may be hard to tell how to improve the technology going forward. So all I did is put all of Bordynuik's claim's together in a single statement:
In your opinion, what is inhibiting JBI from processing unwashed, commingled plastic at an average rate of 1,500 lbs. per hour with an average up-time of 70% per quarter producing 80% diesel and 20% naphtha at a cost of $50 per barrel?" Time and money. I fully believe the technology is capable of achieving that based on how fast the tech has evolved in the last 4 years.
And then based on that statement do a little math and compare it to publicly available documents like filings and Annual Facility Reports. I have done a variation of this for a while now and oddly enough Bordynuik comes up massively short EVERY SINGLE TIME. Now the excuses compiled by and on hehalf of Bordynuik are quite creative and extensive. This is just a small partial list based on my memory:
1) All we need is an air permit. This one reigned supreme in 2010. It was claimed the machine was raining diesel but John just did not want to sell it because he did not have an air permit.
2) The machine needs tweaking!! It was claimed repeatedly that Bordynuik could run the machines at something approaching my statement above, but he had to make them "more modular", construct a new ram feeder, etc.
3) Bogolin put water in the machine.
4) They are testing plastic.
5) And now ironically enough the machine is too expensive to run.
It is always something. I would just say if Bordynuik could put together a quarter of "just running the machines" at something close to what my statement implies this company would be in a fundamentally different place. And when I say my statement that is really just a compilation of Bordynuik's claims.
Let's be realistic. This is a public company who had an undeveloped technology that requires a lot of money, time and energy to bring to market successfully. KIOR, A. Co. and others have spent many multiples JBI has on their P2O tech. I think JBI has an even better process than they after spending much less. (See Columbia's ECC report) Running a public company means the only way to raise money is by selling shares. Shares derive their value from hope and expectation. You can't convince greedy shareholders to buy shares if it doesn't look amazing, quick and easy. There are some investors who see the global need for the technology and are willing to invest without greed (See Meyer Luskin IMO.) But I would think there are many more greedy investors to angel investors. Do you think JBI would have raised even half the money they did by saying only their "safest" expectations. John did what he had to do to get us to this point. He's playing the game. If it's not exactly what you expected by now, sorry, but if you're patient and you truly believe in the sector, you may be handsomely rewarded. John has a vision to create a technology that cleans up the planet profitably and he's doing it the hard way (public co). I think he did this so that everyone who wants to invest at the ground floor, can, instead of waiting for some bullshit IPO where the banks get all the huge profits if it's a success.
News 
Market Data 
Discover 
AI
