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ergo sum

05/25/10 10:40 AM

#44607 RE: blind squirrel #44603

NIAGARA FALLS, Ontario, Jan. 4, 2010 (GLOBE NEWSWIRE) -- JBI, Inc. (the "Company") (OTCBB:JBII - News) announces that on January 1, 2010, Ronald Baldwin, Jr. was appointed as JBI's Chief Financial Officer and the Company has centralized all of its accounting operations and controls in Clearwater, Florida where Mr. Baldwin is located in order to manage rapid growth successfully and cost-effectively.

Mr. Baldwin will be responsible for implementing financial reporting software with the Company's engineers as well as financial and audit controls for the Company and all of its subsidiaries.

Ron Baldwin is a CPA with 15 years' experience in public accounting and holds a B.S. in Accounting magna cum laude from the University of South Florida and a J.D. and L.L.M in Taxation cum laude from the University of Florida. Mr. Baldwin was admitted to the Florida Bar in 2000. From 2007 to 2009 Mr. Baldwin was the Vice President of Finance at Hegemon Capital, a special opportunity hedge fund that was involved in over $100 million in loan placements and equity investments.

Commenting on Mr. Baldwin's CFO appointment, John Bordynuik, CEO and President of JBI, Inc., said, "We are extremely pleased to welcome Ron Baldwin as our new Chief Financial Officer. His extensive financial expertise, business savvy, industry connections, exemplary qualifications, and legal / managerial experience ensure that he is well-suited to assist us in advancing our growth strategies."
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dipinvester

05/25/10 10:43 AM

#44608 RE: blind squirrel #44603

I would assume it has to do with when and how (and how much) we can realize revenue from the 45 contracts with Sousa.
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buenokite

05/25/10 10:56 AM

#44611 RE: blind squirrel #44603

Just a guess but Fla. is where their CFO and accounting functions are located.
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stocker11

05/25/10 11:08 AM

#44618 RE: blind squirrel #44603

delagated to them/CFO