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Jagman

09/26/12 3:35 PM

#198092 RE: ponzi_implosion #198080

Maybe the product is stuck in the PIPE???!!!!!

A consecutive series of run tickets might be useful to gauge actual production over a given period.

If a series of run tickets were to be produced that documented the quantity of fuel that was transferred over a given time period then revenue could be roughly extrapolated.







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loanranger

09/26/12 3:38 PM

#198093 RE: ponzi_implosion #198080

"A consecutive series of run tickets might be useful to gauge actual production over a given period."

The SAIC audit would seem to fit that description, but it would be very unwise to extrapolate even the roughest revenue estimate from it. The three day sample, taken from within the second quarter, would suggest revenue far in excess of the Q2 reported Revenues, even IF those revenues were all fuel.

Ideally management would be generating information reports that would tie opening fuel inventory, plus fuel produced, less run tickets ($ tying to reported revenues) equaling closing fuel inventory.
I wouldn't expect this company or any similarly sized company to provide those reports publicly, but obviously a company that acknowledges that "Our core business is converting waste plastics into end-user, ultra-clean, ultra-low sulfur, ASTM D396 fuels" should be segregating the revenues from that core business and providing some detail regarding the amounts of raw materials used, fuel produced and fuel available for sale at the end of the quarter in its quarterly reports to shareholders. In spite of managements contention that "JBI considers disclosure of stockholder information one of its fundamental principles", none of those details are being provided.
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monkeyfrog

09/26/12 6:21 PM

#198144 RE: ponzi_implosion #198080

" Honest John" apparently saw the need for run tickets and validation when he told some loyal investors that he "engaged" URS and would be releasing URS produced run tickets. Ofcourse that never happened. What's so hard about releasing actual verified production numbers? Is JBII changing the story about finding the "secret" catalyst while reading tapes? Is JBII filling tankers as we speak?





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