Share structure and honeymoon effect ran it up. It seemed nothing could go wrong, and that validation of the P2O process was coming out any day. It only took 50k shares or so to push it 20-30% a day, because there were just no sellers at the time.
Realistically, the stock probably should have stayed around $1, so keeping it at $4+ was going to take perfect execution. We got far from perfect execution. The market put almost zero credibility to the IsleChem Report. Had to restate financials after trying to uplist. The failed uplist and restating $10 million in assets hit the stock hard. Plus, people were under the impression the processor was ready to go into action in April/May 2010. Complications with the processor delayed the ability to get the stack test done. Then, coordinating the stack test, getting the results, moving along in the permit process took many month longer than most imagined, coupled with MILLIONS of shares of stock that became unrestricted drove the stock down to these levels.
The CEO made some mistakes, and expectations were drastically under delivered, so here we stand.
I think the moment we all thought was here early 2010 was delayed to now. Time to see if JBI can deliver the goods. I think they will.
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